Won and done? Sportsbooks banning the smart money

Already a hot-button issue in the United Kingdom, a controversial bookmaking practice is starting to spread in the U.S.'s growing legal sports betting market, too. Bookmakers from London to Las Vegas are refusing to take bets from a growing number of customers whose only offense might be trying to win. The full scope of the issue in the U.K. is difficult to determine, but it's believed only a small fraction of the roughly 8.5 million "punters" (the European term for bettors) are impacted. Gaming experts say sportsbooks might have closed as many as 50,000 betting accounts in recent years, and just as many punters have had their betting limits restricted to mere pittance. As one U.K. bettor put it, "If you try to win, they don't let you play anymore." "Yes, bookmakers are severely restricting or closing accounts for what appears to be the fact that these people are winning," said U.K. gambling consultant Steve...

from ABC News: Sports https://ift.tt/2xlyVyD