Opening a Telephone Account

Betting over the phone is quick and easy. All the major bookies have freephone numbers, and friendly staff to take your call and help you place your bet. They will be able to look up the latest odds for any bet you request.

Setting up a telephone account is simple; just choose one of the three different types that suits you best:

Switch/Debit Card accounts:

* The easiest account to open and use

* All transactions are conducted through your bank, via your Switch or Debit Card for your bank account

* Call your chosen bookmaker and ask to open a Switch or Debit Card account. They will be happy to help and you set up your account there and then

* You will be asked to provide your name, address and Switch or Debit Card number and confirmation that you are over 18 years of age

* You will be provided with an account number straight away you will be asked for this whenever you call to place a bet

* Stakes for the bets you place will be taken from your bank account just as if you had purchased something in a shop with your Switch or Debit Card

* Winnings will be paid directly into your account by the bookmaker transactions may take three of four working days to clear.

Deposit accounts:

* Offer great flexibility and there is no need to prove your identity or creditworthiness

* Call the bookmaker you wish to open an account with and ask to open a deposit account

* State how much money you wish to deposit in to your account, and provide this money up front for example by debit card

* Your deposit is used to place your bets. You can deposit more money whenever you wish. Losing bets stakes are taken from this amount and winnings are paid on top of it, to be withdrawn at your request (or paid to you in full upon closing the account).

Note: Many serious investors may start off with a deposit account, and then ask for it to be changed to a credit account at a later date, once the bookmaker has got to know and trust them as a reliable customer. In this case, your initial deposit will be returned.

Credit accounts:

* Useful for betting on longterm (or 'antepost') bets, when you don't want to tie up any of your money while waiting for an event to take place

* Apply for a credit account by phone or by writing to the bookmaker you wish to open an account with. They will send you an application form to fill in with your bank account details and send back to them

* An agreed credit limit will be set depending on the details you give, and you will be able to place bets within this limit

* Your winnings will be paid in to your bank account upon your request

* You will be sent a bill for any losing weeks you may have and you then pay the outstanding amount. Failure to pay is likely to get you a bad rating in the industry and you may find placing any future sports bets very difficult with a 'black mark' against your name.