Baseball gambling debt...What balance transfer to use?

JEBJJA · Oct 3, 2011

I have an employee that lost ALOT ($3,500?) in the last couple months. He was gambling on baseball and football and was chasing his money and got it up pretty high. Now I can give him more hours, but that won't cut it because he wants to pay it off but wants to do it via credit card transfer because he did it via the online sports betting site. Now I suggested to him there is some fine print that he has to read. Do you guys have any advice on what is the best credit card/balance transfer going on or what suggestion I can do to assist him? My staff is good at talking to me because I help them with "life stuff". I think that the weekly football $5 office pool is good enough, he took it to the extreme. Thanks fellas.

Taikob · Oct 3, 2011

I am not an expert in this subject but I am pretty sure that no reputable online gambling site allows bets on credit. Is there more information that he is not sharing with you here? It sounds like he is reloading his account rather than paying off a debt since there is nothing an offshore book can do to him assuming he owes them money. Based on the no credit betting fact I would recommend you keep your distance from this since it doesn't sound right. If he is trying to reload his account and telling you he is paying off a debt it sounds like he may need a different kind of help(intervention). Good luck and I hope your employee gets the help he needs.

JEBJJA · Oct 3, 2011

Well since I will not mess with or go on a gambling site at work, he told me the site which is sportfanatik.com. I checked it out tonight and they actually do take credit cards. I'm not helping him reload his account as his wife is involved and I just want to help him because he is a great employee and I don't want to lose him and his work to suffer because of stress. My wife would KILL me. Like I said, a $5 football pool is good enough for me for gas to fill up my truck. LOL.

gt2590 · Oct 3, 2011

Hey jeb,

Something here just doesn't sound right. :?

Just like TAI said, I don't know of any site that lets you bet without the Money already being in your Account. If so, they would just take a beating, especially since they would have no recourse on a bad debtor.

I think he ALREADY lost the money by using his CC and is now trying to pay off that debt. It's pretty much the same, and he still needs $$$, but I don't think there are any Gambling sites that would let you bet on a credit line before they have the money.

I know he'll take a beating on fees, but paying off a CC is still easier than a corner bookie calling every day anyway...

IMO the bigger problem is taking steps to make sure it doesn't happen again.

rymflaherty · Oct 3, 2011

no reputable online gambling site allows bets on credit

That's a good point.
When that poster said "credit" they didn't mean credit card......simply that no online site I can think of is going to let you gamble without the funds to cover the bet in your account. I think that's why he said it sounded like a reload.

I do hope you can find a reasonable solution. With the gambling crackdowns it can be a bitch to use credit cards on such sites, and if there is a work around, it's often shady - like it being deducted as a cash advance from the card. (Have seen that happen). I'd imagine the best bet is to use a third party option on the site - most sites have things like e-wallet (I believe is one example) that you can use as the middle man in such transactions.

JEBJJA · Oct 3, 2011

He is using a credit card and putting the money in on the online betting site, then betting on games, but then the money goes away after he loses, but shows on on his billing statement. That is what happens. If he were that much of a scum, he should deny it on the statement...but he didn't say that to me and maybe he's scared to?

Taikob · Oct 3, 2011

JEBJJA said:
He is using a credit card and putting the money in on the online betting site, then betting on games, but then the money goes away after he loses, but shows on on his billing statement. That is what happens. If he were that much of a scum, he should deny it on the statement...but he didn't say that to me and maybe he's scared to?

Good luck helping your employee. I don't want to assist him in his gambling but the review site "Sportsbook Review" grades sportfanatik.com as a site to avoid. It is one of the most trusted review sites out there and he should use that if he continues to gamble. The situation you describe sounds like he is funding the account with his CC, losing the money via betting, then the amount shows up on his billing statement which is normal procedure. Of course he owes the money he lost to his CC company but he owes the site nothing. If it is true that he used a credit card to fund his account it appears he wants to gamble more to cover his losses since the money owed is to the CC company. As evidenced by his massive initial loss this will not end well. The reasonable solution is to min. pay the credit card to buy time, get a second job, then never gamble again especially with money you don't actually have.

lawhs89 · Oct 3, 2011

From my experience, if he says he lost $3,500, you can double or triple that.

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Baseball gambling debt...What balance transfer to use?

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