Can I get a loan if I gamble?

Mortgage lenders are known to decline applications where the borrower has a history of gambling. This is usually because they believe the transactions are too frequent, the losses too heavy or the amount that's being spent on gambling is too high.

onlinemortgageadvisor.co.uk - How much does Gambling affect a Mortgage Application?

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How to get a mortgage if you’re a professional gambler

It’s possible to get a mortgage based on gambling income, but you’ll need a broker since most mortgage lenders would treat an application under these circumstances as high risk. Gambling income is often volatile, so it’s easy to see where lender concerns stem from. Those with a successful track record of earning money regularly and an upward trend of betting income are much more likely to be deemed a safe bet (pardon the pun) by mortgage lenders and have this income considered for mortgage purposes.

Here is the criteria lenders use to assess professional gamble mortgages…

Income stability / betting behaviour / habits

Consistent income, basically. Most lenders like to see a steady profit from gambling if it’s your main source of income.

Track record

Having a long-term track record of making a full-time wage from gambling will boost your chance of getting a mortgage based on your winnings.

Type of gambling

Types of gambling where there is some form of skill involved – such as Blackjack, Baccarat or horse racing (if you’re an owner/trainer or regular backer) – are often looked on more favourably than luck-based gambling.

Gambling income ratio

This refers to the size of your typical betting stake relative to the amount of money you have. For example, if you regularly place £1,000 bets but have hundreds of thousands in your bank account, this is unlikely to cause concern. In addition to the criteria lenders have for your gambling income, you will also need to meet their general criteria for creditworthiness. The stronger your application, the mortgage likely the lender is to overlook any potential risk posed by the way you make your money. For example, having a large deposit and clean credit will increase your chances of approval. You can read about the general eligibility criteria in our mortgage applications guide.

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Should you go all in on a flush draw?

Raw Flush and Straight draws without added outs will only have around 30%-35% equity, so unless you are getting very good odds on your call (opponent didnt have that much too shove) this should almost always be a fold imo. If your estimated equity is above 50% you should always consider the call.

cardschat.com - Calling all in with a flush draw or open ended straight , right or wrong

There is a huge difference between a raw Flush Draw or OESD and one with added equity in the form of a combo draw. A combo draw could be something like a flush draw + 2 overcards to the flop, or a OESD + overcards, or Combo Flush + Gutshot etc. If you are facing an All-in on the flop, you will likely always be up against 1 pair or better. So you want your draw to have at least 50% equity against a single pair, which many combo draws will have. Raw Flush and Straight draws without added outs will only have around 30%-35% equity, so unless you are getting very good odds on your call (opponent didnt have that much too shove) this should almost always be a fold imo. If your estimated equity is above 50% you should always consider the call. Your no-pair hand is statistically ahead in these situations, and you should be even more inclined to do so if your drawing to the nuts. Keep in mind, its always better to do the pushing, then doing the calling with draws. When you do call, just remember, even the best combo draws are pretty much coin flips against made hands. Weak flush draws and OESD are around 35%.

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