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Does Gambling Affect My Credit Score – Think about this before you play SportsBet Nigeria

What is a credit score?

Credit score is usually defined as your perceived ability to pay back a loan. Perception is the key word, as no-one can be entirely sure that you will or can pay back a loan in any case. 

A credit bureau, which will be the one determining your credit score, will work hard to find out if you have previously mismanaged a loan, what your income is, and how much debt you currently have. What you spend your income on will not directly affect your credit score, but neither can you count on betting income to increase your credit score.


Gambling does not directly affect your credit score

As credit bureaus do not look at where you spend your money, but rather on what your source of income is and how much debt you currently have (combined of course with your debt history), gambling will not affect your credit score. 


Banks will look at your gambling history

The bad news is, banks will normally look at your bank statement before they grant you a loan. If they see that you have significant inflows and outflows form betting or gambling institutions, this might be bad news for your potential loan. 

Inflows from gambling venues will not count as income, and outflows will affect your affordability calculation (this is what banks call your ability to pay back a loan). In addition to this, banks who identify your places of play on your bank statement may see this as a reason not to give a loan. 


Make sure your gambling is not the majority of your bank transactions

If a bank sees that you have many, or by value important, transactions from gambling companies, they will see this as an added risk to your profile. This will in many cases lead to not giving you a loan. 


Does gambling affect my credit score? The short answer.

No, but not directly. Your gambling inflows and outflows will have to be a small part of your income in order not to affe

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