It's a good personal rule, I never use credit for anything at all myself.

Every week I see some people putting groceries on credit, and the very next week those same people have their card is declined, so they aren't paying it off.

I just don't think "gamblers" or "gambling" should be given the same predjudices here as in the general public perception.

I've never owned a credit card myself, because it's too much of a temptation, not gambling - just generally.

While my mates went out and got car finance for the latest VB Commodore, I saved my pennies and bought an EK Holden and got far more fun out of it, because I worked for it AND waited a long time for it
When I sold it, it was worth more than I paid for it (wish I hadn't sold it now), when they sold their cars, they got just over half the showroom price and still owed money.

But that's off topic, sorry.

__________________
RaceCensus - powerful system testing software.
Now with over 426,000 Metropolitan, Provincial and Country races!
http://www.propun.com.au/horse_raci...ng_systems.html
*RaceCensus now updated to 31/10/2025
Video overview of RaceCensus here:
http://www.youtube.com/watch?v=W821YP_b0Pg

Credit Cards are fine if used correctly, i pay for almost everything with the card, unless i can transfer the cash directly from my bank account as i do for paying all the bills.

Where i live we have 1 eftpos cash teller and a lot of times it is empty and i don't like getting cash from the Caltex over the counter unless i buy somthing (we live in a town of 900 people)

When i get the chance to go to our major town about 50km away it is not always pay week and i don't like to get large sums of cash out to do shopping and stuff so it all goes on the card.

The card gets paid off when the balance reaches about $1000 or before the interest kicks in, using the card in my situation makes life so much easier.

aw, my appologies, i didn't realise the ignorance out there, even you Chrome, I'm amazed, but please all keep on as you are PLEASE, that is all I ask!

My 2 cents.

When I first opened my betfair a/c, many years ago, I tried to transfer money directly from my bank a/c (NAB) to Betfair. The transaction was blocked and after several attempts I rang the bank. I was told that the bank does not allow transfers to THAT kind of business. What kind of business I asked?, "you know, THAT kind of business". After a few minutes of useless argument and a few choice words on my behalf I realised I was not getting anywhere. So I purchased a bank cheque from the same bank with the same money and sent that to Betfair. see the difference??? As soon as the BF a/c was funded I closed my a/c with THAT bank. So in this case I was not permitted to spend my own money how I saw fit.

2 cents on my own Credit Card use.

Have been using them for years and put everything I can on them. Have always paid the full amount on time, so have never paid interest. Now I know they are not free, but with the points earned we have have had 2 return flights to New York, 1 to Europe, and will have enough to have another 2 to Europe next year.

Look at me I said I wasn't going to contribute any more

Poop, please resist the temptation to correct our ignorance in this thread. Unknown ignoramuses who don't need any more problems are here too.

__________________
Pixie

"It's worth remembering that profit isn't profit until it's spent off the racecourse." -- Crash

A couple of misconceptions mentioned in this thread about CC:

Party:
'(3) I deposit $1000 to my Sportsbet account, they credit my account with $1000, (they receive $1000 cash from my bank less a % commission) but I may decide not to use it, and maybe withdraw the amount later, but if I do use it I may receive no cash whatsoever??'

Any money going into ANY betting account is a purchase of 'credit'. Why? Because if you deposit say $100 into an empty TAB account, Sportingbet, Betfair etc. with on-line deposit facilities, you have purchased $100 worth of betting credit and you cannot withdraw it as cash from that betting account.

That $100 is credited into the account of the provider, not as believed, into your gambling account. You betting account will now show $100 credit [not $100 cash]. The $100 cash you have borrow from your CC is now in the provider's Bank account [earning interest] and a $100 betting 'credit' is in your betting account [the 'product' you purchased].

You MUST turn over $100 in bets before ANY withdrawal is possible. Even if you have a big win with a one-off 1st bet of $12 that snagged a $2000 trifecta. I found that out the hard way by experiencing that scenario first hand. I couldn't withdraw any money from the account. After some inquiries I found out I had to turn over another $88 worth of bets before I could withdraw any money at all!

The reasoning is quit simple: You would be able to avoid 'cash out' Bank fees, simply by using your CC to deposit into say a TAB account and then nip down to the local Pub tab and withdraw it in cash! :-))

Misconception no. 2 motioned by a couple of posters so far:

It is illegal to sell or purchase over-the-counter gambling products from Newsagents by CC. That's why you will often have to pay for your newspapers etc. at one counter, and you scratchies and Tattslotto tickets at another counter. You also cannot use a CC at a Pub tab or a Club or Pub pokies venue to get a CC cash advance out of their ATM. It's illegal in all states [as far as I know].

My local 'big town', Bainsdale [15ks away] has a large tobacconist/variety store that also sells lotto and scratchies etc. but obviously no separate payment facilities. I tried to pay for some purchases there last week [not their gambling products] with a CC and was told: 'Sorry, because we sell gambling products it's illegal for us to accept credit cards'.

Please note this thread will be closed shortly.

It's not like giving some tips on the horses and we cannot justify the time involved for a moderator to check every few minutes to see for example that nothing potentially defamatory about a bank has been posted.

Crash

You are wrong about the turnover amounts, yes you need to turn some of that money over but this is to show that you are not using the account for laundering.

I to had this problem when i put money in to my old NSW account and then was asked by friends to go to the pub for a few bets so i got the money out there, got a letter saying my account would be closed if i did that again.

Shaun,
I was pointing out what's legal and what isn't. If you managed to get the deposit out, whoever gave it to you was doing an illegal act [as the letter you got pretty much pointed out].

Moderator,
Hopefully, pointing out CC myths regarding CC deposits into Betting accounts is surly valuable punting information, certainly horse racing specific and nothing to do with slander of [any] Banks fees or charges[?] It's mainly just letting punters know the actual legalize of betting account deposits that many punters obviously are unaware off.

CP, you could have a Free Visa CC for the convenience but NOT the credit
(No Fees) - I would far prefer to pay anything via the superb little Aussie invention called Bpay, but there are places who have not caught up with this century yet. (Actually it's because they make a goddamn fortune via CC's).

For those places that require CC payment - I find out the total cost, of the item plus any sending costs, Bpay that amount to my CC account first -
Only then do I use the CC - result is, No fees whatsoever on any transactions - financial institutions make Billions, in many cases because
people don't quite realize what the possibles are.

Education dept. should dump the 'History' lessons for all bar the one in a million who intends to be a Historian, and instead introduce a lesson called
'Money' - Who the hell ever got asked in 'REAL' life what happened in 1066 -
More to the point, who cares ! - It's 2066 we want to know things about - such as, 'Will it be any easier to find winners ?"

Regards.