The Secret World of High-Rolling Professional Gambling and Syndicates
A recent court filing alleges that George Cottrell acted as a front for Tony Bloom's gambling syndicate by managing control over betting accounts, with profits estimated around $250 million. Tony Bloom, known as a former professional poker player and owner of several football clubs including Brighton & Hove Albion FC, Royale Union Saint-Gilloise in Belgium, Heart of Midlothian in Scotland, and Melbourne Victory in Australia, is the defendant in this case and has not filed a defense at the time of reporting.
The case sheds light on a parallel, shadow gambling sector where VIP betting accounts are bought and sold through messaging apps for thousands of pounds, with greater value attributed to top-tier or high-rolling accounts. Within the betting industry, bookmakers use stake factoring to regulate high-stakes bettors: losses increase the factor and wins can lead to reduced or zero maximum stakes, sometimes resulting in accounts being shut down, a practice known as "chinned."
Some punters resort to buying or renting accounts owned by losing customers, known as "beards" or "mules," to bypass these restrictions. These accounts are operated by others who share in the winnings. Additionally, an offshore, unregulated market estimated at about £1 billion exists, accessible via VPN and often accepting cryptocurrencies. These offshore operators do not pay UK taxes or conduct anti-money laundering or responsible gambling checks, targeting high-rolling VIP customers. Recent tax changes may push more punters towards these offshore sites.
Legitimate betting syndicates such as Starlizard, associated with Tony Bloom, offer access to advanced modeling for large bets and may use third-party beard accounts to hide involvement. In 2023, Matthew Benham was linked to a UK-based syndicate named MSPP Admin; however, he asserts adherence to betting rules. This complex network highlights the challenges and nuances within high-stakes professional gambling.
