Inactive Betting Accounts - Ladbrokes

Hello,

I wanted to know if the email I received was genuine earlier this morning.

The email stated that if you have an inactive account at Ladbrokes they will put a £2 charge onto your balance each day which is required to be paid.

[Posts: 317Joined: 01 Jan 1970, 01:00]

15.3 . If you do not use your account to carry out any betting activity for a period of 12 consecutive months, such account shall be deemed to be inactive (“Inactive Account”).

15.4. Any Inactive Account will be charged an administration fee (the "Inactive Account Fee") in an amount of £2 (or currency equivalent) or 5% of the balance of the account on the date the account becomes an Inactive Account (whichever amount is greater). Subject to clause 15.5, the Inactive Account Fee shall be deducted from the Inactive Account at the end of the day the account becomes an Inactive Account and on the first day of every following calendar month.

15.5. The Inactive Account Fee will be deducted until the earlier of: (1) the account balance being reduced to zero; or (2) the account being reactivated by you using the account to carry out betting activity. In each situation the Inactive Account Fee shall cease to be deducted.

15.6. We reserve the right to close any Inactive Account whose balance has been reduced to zero for a consecutive period of 6 months.

[Posts: 4667Joined: 12 Mar 2008, 23:07Location: Taunton Somerset]

Is that the same for any other firms?

[Posts: 364Joined: 27 Jun 2009, 21:56]

William Hill did that with my account.

[Posts: 2576Joined: 21 Feb 2007, 15:53]

How Strange.

I would have thought that given the cost to the Bookmaker on maintaining an inactive account with no funds in would be somewhere between approx £0.00 and £0.50 per account per year. And, those with funds in a net return from assumed interest earned.

This is tantamount to them saying either bet with us or will charge you for not doing so.

I wonder what the Gambling Commission's view on this would be?

[Posts: 2576Joined: 21 Feb 2007, 15:53]

Oh, just a thought does this only apply to 'Credit Accounts'?

[Posts: 364Joined: 27 Jun 2009, 21:56]

Oh, just a thought does this only apply to 'Credit Accounts'?

Well mine were deposit accounts.

I closed the WH account as soon as I got the notification from them and I've just checked my Ladbrokes account and I haven't used it since October last year. So I've emailed them and told them I want to close the account because of the inactive account payment (although they haven't emailed me about it yet).

[Posts: 2576Joined: 21 Feb 2007, 15:53]

Thanks RB, as I say seems very strange to me.

I've just looked at Corals Online Rules and they do not appear to follow Ladbrokes or Willian Hill;

7. Dormant accounts

7.1 If you have not logged into your account or otherwise not accessed or used it for a continuous period of one hundred and sixty-eight (168) day your account shall deemed to be dormant. Similarly if we have frozen your account for the reasons given in the preceding section for such a period it shall be considered dormant. If your account becomes a dormant account and there is a credit balance on the account, then we will use all reasonable endeavours to contact you to determine your wishes in respect of those unutilised funds.

[Posts: 364Joined: 27 Jun 2009, 21:56]

Took Ladbrokes less than 20 mins to email back and say the account was closed!

[Posts: 4148Joined: 20 Jan 2006, 11:28Location: The Ainsty of York]

Presumably the £2 is to be deducted daily from money left on deposit for a year or more; therefore the simple answer would seem to be: don't leave any money on deposit with any bookmaker if you're not going to use it in the immediate future

They can't deduct £2 from a zero balance on a Deposit or Debit/Credit Card Account, after all, can they?

I'd rather have all my money in my bank account working for me, not left languishing in a bookmaker's account

If they decide to close a zero balance account after six months' dormancy, fair enough; you obviously have no need of the account, do you?

Regarding (Phone) Credit Accounts: haven't used most of mine for several years, but they all remain open and I haven't been sent any requests for an "administration fee"

[Posts: 2032Joined: 06 Jun 2011, 14:34Location: Bury St Edmunds]

Banks and Building Societies have been doing it for some years on inactive accounts. I suppose they need something to pay their obscene bonuses with.

[Posts: 949Joined: 20 Apr 2001, 22:35Location: LONDON]

Punter dies,wife doesn't know precise details about betting accounts.Bookmaker slowly claws back anything in account.

[Posts: 750Joined: 27 Jul 2010, 01:42]

Betfair also sent an email a year or so ago saying that they would be doing this.