When using a betting app you may be wondering if this will effect your credit rating or mortgage application. Here we take a deep dive into the subject and try and answer any questions you may have. We have over 12 years of experience in the gambling sector and have looked into this in good depth.
Do betting apps affect your credit rating?
The simple answer here is no, betting apps do not affect your credit rating. There is no credit being provided by the app so no credit check or mark on your credit file is required.
The only way it could affect your credit rating is if you were to use finance to gamble. This is not advised at all and should not be done. Again this would not be the betting app that had the credit but where ever you got the credit from would affect your rating. As you cannot make a deposit with a credit card this has no impact on your rating either.
Do betting apps affect a mortgage application?
There is more to consider here than just having a betting app. Your mortgage application is not affected by simply having a betting app or multiple apps. With mortgage applications taking into account affordability if you have transactions from betting companies on your bank account then this can be looked at as a monthly outgoing.
If you deposited £10 a week into your betting account then this would be looked at as a £40 a month outgoing. You cannot simply say you won’t gamble once you have a new house as this is not how they look at affordability.
If you are planning to buy a house or mortgage you may want to think about how much you spend on betting as this can affect how much you can borrow.