Will betting on horse racing affect my credit score? 

horses racing for Betting credit score advice

Will betting on horse racing affect my credit score? 

We are all concerned about our credit scores more than ever today. Everyone needs to keep a close eye on their financial activities, and credit scores are one way we can do this. For those of us who enjoy a bet on racing, it can be an ever-present question in the back of our minds: does betting affect my credit score? There are several ways of looking at this question, and the answer is a bit more complex than you might think. Today, we’re going to do our best to answer it and provide you with the information you need. 

Let’s not waste any more time. 

Does gambling affect my credit directly 

There is a simple answer here: no, it doesn’t. There are several major credit bureaus such as Experian, TransUnion and Equifax, to which a deal of your financial information is reported in order to build your credit score. Any gambling gains or losses made at racing bookmakers are not directly reported to these agencies, and thus do not have any bearing on your credit score. 

There is also nothing of your bank balance or your income reported to these agencies, so they have no way of determining that you are gambling, directly. Things reported to them are things such as payments and direct debits, whether they are kept up to date and if bills are paid on time. 


So, gambling in principle does not directly affect your credit score. However, as you can probably expect, there are many ways that your gambling could affect your credit score if it gets out of hand. Let’s look at some ways this could happen. 

Why gambling can indirectly affect your credit score

Problem gambling is a big issue in the UK. Around 45% of gamblers amass debts of around £5,000. So, as you can imagine, this can have a big indirect, knock-on effect on credit scores. Thankfully, the direct use of credit cards in gambling has been banned in the UK. Nonetheless, gambling more than you can afford to spend could lead to you being late on payments for your bills. 

Many with gambling addictions have a tough time managing their money, and get emotional when they lose. While help is in place for such people, the fact is that it is often difficult to initially come forward. Some figures suggest the average problem gambler is £10,000 in debt before they seek help. 

Unpaid debts, in and of themselves, will contribute to your credit score. If they sit without being paid for long periods of time, then your credit score will be impacted. Equally, if your debts make it harder for you to keep up with your other payments on time, these late payments will be reported to the credit bureaus. This, too, will mean that your gambling is having an indirect effect on your credit score. 

There are other ways that betting on horse racing can impact your credit score. Many betting sites like Betfree are willing to offer lines of credit, but they will often only do so after a hard check on your record. Hard checks have an impact on your credit score, and if you fail the check, then this will lower your credit score. 

If you are worried about your credit score and your gambling, then it’s important to take a step back and take stock. Be sure to strictly budget yourself, and never bet more than you can afford to lose. Avoid taking lines of credit from casinos or attempting to use credit to transfer cash to betting accounts. Help and support is available for you if you struggle with addiction—the hardest part is coming forward. Do so before things go from bad to worse. 

So, while the simple answer is that gambling does not directly affect your credit score, you’ve got to consider how it can have an indirect impact. If you get yourself into debt, or if you struggle to pay bills because of gambling habits, then this shows how gambling can affect your credit score. However, if you are a casual gambler who just likes a bet here and there, you’ve really nothing to fear about your credit score as this is not reported to the credit agencies.


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