Irish Lenders Reject Online Casino Players for Mortgages

Online gambling is considered a sign of a high-risk lifestyle by the Independent Mortgage Advisers Federation, and may lead to rejection.

Irish banks and other lending institutions may refuse mortgages to applicants who are regular players at online casinos. Online gambling is considered a sign of a high-risk lifestyle by the Independent Mortgage Advisers Federation, and may lead to rejection.

Michael Dowling, a spokesman for the Federation, told the BBC, "...banks are cherry-picking the type of customers they want to lend money to. If you are gambling online on a regular basis, the bank will take that amount of money from your gross income and it does reduce the amount of money you can borrow."

Credit experts claim the practice creates unfair conditions for Internet casino patrons. One anonymous mortgage industry insider said that reducing the amount an applicant spends on entertainment from gross income should be applied to all entertainment, including restaurant dining, leisure activity, and socializing, or none. Otherwise, a drunk who spends every penny on liquor has a better chance of getting a mortgage than an honest citizen who gambles responsibly.

Harvey Paulding, an expert on mortgage markets, said, "Discriminating against Internet gamblers seems a most random choice, and the beginning of a slippery slope. Certainly banks want this information, but they also want drinking habits, sexual preferences, and such, and won't get those."

Lawyers in Ireland are expected to challenge any attempts to collect personal lifestyle information, including preferences as to online gambling. One attorney said," This type of arbitrary discrimination is unacceptable."