Getting A £25,000 Loan To Gamble On Football?

[jools22]

I know enough about football to know that upsets do happen and nothing is certain.. but also enough to know that with patience I can find a sure cert.

Now when that match occurs what is there to stop me getting a £25,000 bank loan (in my name, not my Mrs') put bet on, it returns lets say £37,500. Pay loan off and thats £12,500 profit [enough to buy new car, take kids abroad]. Then obviously stop gambling. All sounds good yeah, why dont people do this?

Obviously now I have to think if that £25,000 bet loses... what can they do to me as I cant afford and have no intention to pay back loan... do I try go bankrupt? I live in a council house, dont have a car but wife does etc etc. If I moved out for a while, so they cant touch wifes and kids possesions?

If there are laws about gambling and bankruptcy could I not get round this by saying I took the loan out, mrs came home *** and whacked £25,000 on Man City to win. They couldnt put us both in prison, could they :S Would love to know more about this.

[Tilly2]

You want to put £25000 on a team that lost 4-2 yesterday?

[Quizmonster]

The words in your very first sentence, "I can find a sure cert", is where your entire scheme falls apart, Jools, and I suspect they show your naivete about gambling. The history of that activity is littered with such selections which turned out to be neither sure nor a cert!
Earlier answers reveal the possibilities as regards what might happen to you if yours turns out thus. A week or so ago, Bournemouth beat Liverpool 4 - 3 and a result the reverse of that would have been seen by any football fan as a so-called "cert".

[jools22]

Thanks for your answers, like I said I can find a match that is a cert with patience. Home team in top form who need to win vs a team in crisis with injuries/suspensions/players not getting paid/manager getting sacked in morning. If you look away from The Premier League this isn't too hard to find. Bournemouth are not in crisis, have a very talented team as well as being at home so I wouldn't have classed this as a cert!

Theres a website 888 that offers customers triple odds on first bet. When England played San Marino it was 1/10 England would be winning by half time. £25,000 on that would have got £32,500 back..(yeah, not the best example with low odds but still easy money)

[dannyk13]

No bank manager is going to give you a loan to gamble.

[jools22]

If you read the thread im not planning on telling the bank manager im using the money to gamble.

[hc4361]

I won't mention his name because he makes me spit but a 'wannabee' took out huge loans for cosmetic surgery - then declared himself bankrupt. He was living with his parents, had no assets and they couldn't repossess his (botched in my opinion) face so he got away with it.

[Buenchico]

>>> Im not going to tell the bank that im going to gamble it.

So you'll be lying on your loan application then (since I don't know of any bank which wouldn't ask what you intended to use the money for). That's what the Crown Prosecution Service would call "Fraud by false representation, contrary to Section 2 of the Fraud Act 2006". The maximum penalty for that offence is TEN YEARS imprisonment.

[ll_billym]

The 888.com 'triple odds' offer has a max bet of £10 but if you are so good at picking certs you should just find as many as you can in one week and put together a custom accumulator using as much money as you can afford now, the odds on accumulators get very big very quickly. When that accumulator wins just keep betting your winnings on more dead cert accumulators and you'll be a millionaire in no time.

[aelmpvw]

// When England played San Marino it was 1/10 England would be winning by half time. £25,000 on that would have got £32,500 back//
i think you need to redo your maths ...

[scorpiojo]

:)

[weecalf]

The bookie would have been wanting a word and his 5000 quid back

[CailinDeas]

The security for the loan would be?
Repayment capacity ?
Failure to repay would, likely, result in a court installment order on income.

[Gizmonster]

//// i think you need to redo your maths ... ////

Jools is assuming triple odds on your first bet with the website 888, but:
ll_billym points out:

//// The 888.com 'triple odds' offer has a max bet of £10 ////

[Quizmonster]

"I can find a match that is a cert."
No, you CAN'T...and that is the case whatever the apparent advantages the better team have and whatever difficulties the lesser team may be suffering!

[Gizmonster]

Gotta agree with most people on here and say that there's no such thing as a dead cert.
For you to get a game that pays £37 500 from a £25 000 bet, you'll be looking at odds of 1-2 .... the bookies will have it at them odds for a reason .... plus the odds will be slanted in their favour to allow for profit, etc.
In other words, the bookies will consider the odds of the team winning to be more .... if you placed a number of different bets at 1-2 - overall you'd end up losing.
The best analogy I can give is the flipping of a coin and betting on if it ends on heads or tails. It's a straight 50/50 bet, but if you could get odds for this at the bookies, you'd get slightly less .... I'm just guessing that they'd offer you 2-5 or 9-20 (just guessing, so don't quote me).
If you bet on this as a one-off, you may get lucky; but the more you keep betting, the greater the chance that you'll lose, as the odds are against you.
My advice - stay clear of "dead certs".

[-Talbot-]

No Comment

[tandh]

if you can get a loan for 25k, why don't you buy a van or a mini digger and put a add on gumtree and hire them out. I'm thinking of doing this with a digger as people will pay £100+ a day to hire them, or 200 for you to do the digging

[New Judge]

I'd give it a go if I were you. I can't imagine why more people don't do it.

[-Talbot-]

Full Result

1st No Comment B J Geraghty 4/6f




Did you lump on it?

[aelmpvw]

pity you didn't think of this when liverpool were a certainty to beat wimbledon in the 88 fa cup final ...