Casino Funds Protection
What Is It?
To put it simply – There are 3 levels of protection if a bookmaker/casino goes bust.
Bookmakers and casinos do go bust, and when they do, it isn't always a happy ending for Matched Bettors such as you and I!
The punter tends to be at the bottom of the food chain when it comes to who gets paid out first.
If a bookmaker goes bust and has no protection on their funds, they usually use any funds to pay their staff first. Then they will pay other creditors before finally paying out people's account balances.
What does this mean for you though?
It means that if you have any money in that particular bookmaker, don't expect to see it all. In fact, you might not expect to see any of it!
So How/When Are You Protected?
Bookmakers and casinos offer several levels of protection. Thanks to the Gambling Commission, they are obliged to state these on their sites.
Rather than going through each site yourself, we've made a nice table below that you can use as a reference.
The three types of protection are:
3) Basic (sometimes referred to as “no protection”)
This is the best of the three. If you see a bookmaker with this level of protection, you know your funds are safe if the website goes bust.
They hold every penny in account(s) controlled by an independent person or auditor. If they do end up becoming insolvent, you'll have no issues receiving your funds.
This is also a very good level of protection. Money is also kept in a separate account with a form of insurance/plan set up should the website go bust.
There is no guarantee that you'll receive all your money, but websites in this list are generally safe to use.
Now, I don't want to concern anyone with this one as websites closing and not paying out is of course rare. Saying that, having large bankrolls in sites in this list is a bad idea.
If the website goes bust, your money is not protected. So, there is a chance that you could lose everything and there's nothing you can do about it.
With this being said… a website closing does not generally mean they've gone bankrupt and cannot pay out.
Sites decide to close for various reasons, and the majority pay out with no issue. It's worth knowing that there is a risk.
For some of the lesser known sites, you should consider not keep large amounts of money in them just in case!
Below is a table showing each of the main bookmakers and casinos that we might use for low risk casino offers, and which category they fall in to.
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