A clandestine marketplace where seasoned betting accounts are bought and sold for tens of thousands of pounds has been exposed, revealing a parallel gambling world operating in the shadows of the UK's regulated industry.
The High-Stakes Account Marketplace
According to professional gamblers, a Bet365 account with several years of betting history can command a five-figure price tag. This underground trade exists because successful punters, often labelled "sharp" by bookmakers, find themselves systematically restricted or banned from placing substantial bets.
Major betting firms employ a tactic known as "stake factoring". When a customer opens an account, they are assigned a factor that dictates their maximum stake. Consistent losers see their factor—and thus their betting limits—increase, while consistent winners find their limits slashed to zero, a practice insiders call being "chinned".
"If you offered me the account of a VIP who was a stake factor of 50 at Bet365, with a couple of years of history betting, that could be worth tens of thousands," one professional gambler revealed. They described the marketplace, often conducted on encrypted messaging apps like Telegram and WhatsApp, as a "wild west".
Beards, Mules and VIP Whales
To circumvent restrictions, professional gamblers and syndicates seek out accounts belonging to losing customers, known as "whales" or "beards". These individuals, sometimes called "mules", sell or rent access to their profiles, allowing the professionals to bet heavily under the radar.
One pro described elaborate schemes where students were given burner phones and funded accounts to operate on behalf of a betting mastermind. "Another guy would send people a laptop and instructions on what to bet on. They’d keep the computer and a share of the winnings," they said.
The practice was thrust into the public eye by a recent court filing involving Tony Bloom, the billionaire owner of Brighton & Hove Albion FC and a former professional poker player. The document alleges that George Cottrell, an associate of Nigel Farage, acted as a front for Bloom's gambling syndicate by handing over control of betting accounts in his name for a share of profits.
The Unregulated Offshore Alternative
Beyond the account-trading scene lies a booming illicit offshore market, estimated to be worth £1bn and growing. These unlicensed bookmakers and casinos, accessible via VPNs and often accepting cryptocurrency, target British "VIPs"—high rollers who lose significant sums.
They operate without paying UK gambling duties or conducting mandatory anti-money laundering and affordability checks. Industry experts warn that the recent budget decision by Chancellor Rachel Reeves to increase taxes on licensed online firms could drive more punters towards these dangerous, unregulated sites.
For those operating within the law, betting syndicates like Bloom's Starlizard offer a legitimate alternative. These syndicates use sophisticated statistical modelling to place wagers with specialist global bookmakers willing to take large bets, with members sharing the profits. However, even these syndicates are alleged to sometimes use third-party "beard" accounts to disguise their activity.
The core tension remains: bookmakers have no obligation to accept business from customers who win, while professional punters seek any edge to continue their trade. As one gambler summarised the sentiment of many towards the bookies: "In a world where the companies will shut you down for nothing … well, fuck ’em."
