Thanks for the advice guys.

Beton, where would I find out about the other ways to get around the restrictions?

An issue for me is that I believe it's only a matter of time before the ATO goes after pro gamblers (which I'm not, it's just a full-time hobby for me). If that happens, anyone who operates their gambling like a business will be hit with a tax bill for the last 7 years. Maybe it will never happen but I would never risk it. So that would exclude getting an ABN or setting myself up as a sole trader.

I have other ways of raising finance, but a bank loan is the cheapest. But as you say CP I would hate to apply only to discover that the mere mention of gambling makes me a two-headed monster and destroys my credit rating.