A court case has exposed a shadowy world where elite gamblers buy betting accounts from losing punters to bypass bookmaker restrictions. The case, brought against billionaire Tony Bloom by a former associate, alleges that George Cottrell, a close ally of Nigel Farage, lent his name to Bloom's gambling syndicate. The claim seeks a share of profits estimated at $250m (£187m).
Professional gamblers often face 'stake factoring', where bookmakers reduce maximum bets for winning customers. To circumvent this, they purchase accounts from 'whales'—heavy losers—via messaging apps like Telegram and WhatsApp. Prices range from £20 for basic details to tens of thousands for high-limit accounts at firms like Bet365.
This parallel gambling sector operates beyond the UK Gambling Commission's oversight, with VIPs directed to offshore sites that avoid tax and responsible gambling checks. Industry insiders describe it as a 'wild west', where accounts are traded with little regulation.
The case highlights the lengths to which professional punters go to maintain an edge, as bookmakers increasingly use affordability checks as a pretext to close winning accounts. One gambler recalled using student accounts, providing burner phones and laptops in exchange for a share of winnings.
