Arbusers

Was there at any point any denial from Sportmarket to send your funds, or is it just denial of service?

Are you willing to make a formal complaint to their regulator as they advised you to do? And if the answer is no, why is that so?

No, at no point did Sportmarket explicitly deny returning my funds However, if I hadn’t played and lost the funds through normal betting activity, I still don’t know if they would have eventually denied me access to them or allowed a withdrawal.. All of their emails were intentionally vague and generic. Even in their final message, instead of giving a straight answer, they just reiterated:
"These obligations are not negotiable and apply uniformly to all clients, regardless of account size or tenure."

To be honest, I’m not interested in filing a complaint with their regulator. If anyone should be filing complaints, it’s Sportmarket themselves – they are the ones losing valuable customers. I’ll find my way. There are plenty of solid alternatives out there – thankfully.

My purpose here isn’t to get into a debate with them, but rather to inform other users, so that you can be more cautious.

One last note:
Neteller asked me for a Source of Wealth (SOW) check about 2 years ago, during a period when I had far more transactions. I provided everything they requested and the matter was resolved swiftly and professionally.

I find it absurd for a betting company to take on the role of a financial regulator, especially when the payment provider (like Neteller or Skrill) is fully licensed and has already performed due diligence. If every bookmaker started doing this, it would undermine the trust in legitimate financial institutions.

Also, if they want to run a SOW check, they should be crystal clear about:

What amount the check refers to

What timeframe is being examined

Which documents are acceptable

When those documents should have been issued

Instead, their approach was vague, unprofessional, and lacking transparency.
As far as I’m concerned, I won’t be working with them again.

In the end, did you provide any document not older than 3 months that was rejected from them?

his has already been covered above.
Yes — I provided:

A bank statement from the last month showing a balance 5x higher than my total deposits.

A full Neteller transaction history covering the last 6 months, clearly showing all incoming funds came either from my personal bank account or debit card.

Still, they rejected the documentation as “not sufficient to support affordability.”

Not much else to add here — no need to repeat the same details. Let’s keep this thread clean and useful for everyone.

Yorgos1 wrote: ↑

Mon Jun 09, 2025 8:37 pm

his has already been covered above.
Yes — I provided:

A bank statement from the last month showing a balance 5x higher than my total deposits.

A full Neteller transaction history covering the last 6 months, clearly showing all incoming funds came either from my personal bank account or debit card.

Still, they rejected the documentation as “not sufficient to support affordability.”

Not much else to add here — no need to repeat the same details. Let’s keep this thread clean and useful for everyone.

I don't get how these documents that you provided are NOT adequate for Sportmarket or their regulator as far as proving the "source of funds" is concerned.
If I were you (and had used Neteller or Skrill to make my deposit)I would had provided the same documents and probably would be in a similar tricky and ugly situation as you are/were.
And the fact that they are not even open about your case here on the most famous betting forum on the web , is highly concerning to me and I have been (and still am) a client of their services.

Please clarify something:

-You first wrote that ''They rejected a document I sent showing five-figure winnings from 2022, issued in 2023, claiming it was too old — as they only accept documents from the past 3 months.''

-You then wrote that you sent ''A bank statement from the last month showing a balance 5x higher than my total deposits.''

After you send the one month bank statement, what document they requested that you haven't already sent?

Any chance you or a member of your family are politically exposed persons?

This is exactly why it gets tiring repeating myself — all this has already been explained above, but here we go one more time:

Yes, I first sent a 5-figure profit statement from a regulated bookmaker (2022 winnings, issued 2023). They rejected it as “too old.”

Then I sent a bank statement from the last month with a ~50k balance — clearly showing that I own far more than what I deposited (~10k total in 3 months).

After that, they explicitly requested a Neteller transaction history of the past 6 months, which I sent.

That document showed that my deposits into Sportmarket came from my own bank account or my debit card.

After all that, they asked for a card statement (the one linked to the Neteller funding), supposedly to further establish "affordability." They claimed everything so far was “not sufficient.”

So yes, I provided recent documentation — more than once — and no, there’s zero chance I or any family member is politically exposed. Let's please avoid wild speculation unless we’re genuinely trying to understand the bigger picture.

I believe you show only one-off sources of wealth and that is why they insisted. Any SoW-SoF check is harder when you show one-off sources like heritage or loans. They always come back for more, You show no constant source of income, like a salary, a rent, a dividend or anything like that. Did you show to Neteller a balance, or did you show anything generating income?

Neteller had a complete overview of my earnings because they could see that the inflows from betting companies were greater than the outflows. However, since there was a period when the opposite happened, I still provided proof of winnings from two companies. I also sent fixed-term deposit statements from two different banks — no inheritances, salaries, or loans. These documents satisfied them. It’s reasonable that the deposits themselves are your own assets and shouldn’t be questioned. Only the bank itself could request proof of source of funds if the deposits came from cash or transfers from third parties, which was not the case for me.

nice to know, I was about to open an account with them

This kind of "problem" could hit all full time traders (except those already having enough extra betting financial incomes to provide). That said I can't believe SM won't pay even if the customer doesn't pass the SOW.

@Yorgos: any news about your case? Thanks

There’s been no development — they haven’t contacted me again, and I haven’t followed up either.

Ok, hoping you can solve everything soon please let us know, thanks

years ago smarkets did suspend my account and i had to pass SOW. For various reasons it was lenghty process, 30+ emails ca 3 months later i decided to give up. I did e-mail them my wish to withdraw all funds and it was processed quickly without any problems.

I did pass SOW in other exchange after 4 or so e-mails so process can be a bit different between providers. I do belive smarkets back then overtuned themselves after they got fined by gambling comission.

Sow shouldent affect your withdrawals tho for me it would be crossing red line.