Source of Wealth Checks in UK Online Casinos & What Triggers Them

Common SoW Check Triggers in Online Gambling

Often referred to as Source of Funds (SoF) or Source of Wealth (SoW) checks, licensed gambling operators may request more information about your finances for numerous and valid reasons. We have listed some of the most common triggers below:

• Large Deposits or High Spending – Unusually large single deposits or frequent high-value spending can prompt casinos to investigate whether your funds come from legitimate sources.
• Cumulative Gambling Activity – If your total gambling over time exceeds affordability limits or patterns typical for average players, the casino site may initiate a Source of Wealth check.
• Withdrawals Exceeding Thresholds – Large or repeated withdrawal requests can trigger checks to ensure winnings correlate with legitimate, traceable deposits and gaming activity.
• Unusual Account Behaviour – Abrupt changes in spending habits, deposit amounts, or gambling frequency can raise suspicions and prompt operators to seek additional information.
• Use of Third-Party Accounts – Deposits made from banks, debit cards or e-wallets, which are not in the player’s name or involving shared payment methods, may lead to SoW verification.
• Risky or Unusual Payment Methods – Using methods associated with high risk, such as prepaid cards, e-wallets from obscure providers, or large cash transactions, can attract scrutiny.
• Flags from External Financial Institutions – Casinos may receive alerts from banks or payment processors regarding unusual or high-value transactions linked to your account.
• Funding Gambling with Debt – Evidence or suspicion that a player is using borrowed funds to gamble, such as credit cards, loans, or overdrafts, may trigger checks to ensure that gambling activity is sustainable.
• Random Compliance Audits – As part of their commitment to responsible gambling and anti-money laundering, casinos periodically perform random checks on players, regardless of spending patterns.
• Regulatory Compliance Requirements – Gambling operators must follow the UK Gambling Commission’s guidance for preventing money laundering and combating financial terrorism, which requires investigation when customers cross certain financial thresholds.*

*At most online casinos, this threshold applies to deposits or withdrawals amounting to €2,000 or more. However, this figure can also vary between different casino sites. New regulations are being introduced in 2024 and 2025, aimed at improving standards and consistency throughout the gambling industry. We will cover these changes in the Forthcoming Gambling Reforms in the UK section below.

Documents that May Be Required During a SoW Check

During a Source of Wealth check, online casinos licensed in the UK may request specific documents to verify the legitimacy of your funds. Commonly requested documents include:

• Employer-issued pay slips, director’s pay, or pension
• Investment statements with proof of dividends, shares, other generated income
• Bank or savings account statement with regular payments from a known source
• Financial records showing earnings from self-employment or business ownership
• Trust deed showing entitlement to funds, proof of a recent award or payment
• Sale contracts or solicitor letters confirming proceeds from property sales
• Inheritance documentation such as probate or a will
• Statement of recent winnings from another gambling company

Are SoW Checks Excessive?

Although required by law, SoW checks may feel excessive (especially for smaller deposits), and this has been addressed by the Gambling Commission in their ‘Emerging money laundering and terrorist financing risks’ report. In the ‘Common operator failing section’, it is mentioned that:

…operators have been identified as failing to critically review SOF documentation and relying on electronic checks (including relying solely on open-source information such as Companies House information for example, to verify SOF information). Other issues include operators failing to provide sufficient guidance to staff on how to review and verify SOF information and what supporting documents should be requested in this regard. – UKGC, Emerging money laundering and terrorist financing risks report

Different Terms – Same Financial Check

When gambling online in the UK, you might come across various terms referring to similar financial checks. However, these terms can often overlap in practice and essentially mean the same thing. These are some of the most common phrases used by gambling companies:

• SoW (Source of Wealth)
• SoF (Source of Funds)
• Proof of Funds
• Proof of Income
• Financial Verification

SoW vs. AML vs. CDD Checks

To avoid any confusion surrounding different kinds of checks, you may encounter terms like Anti-Money Laundering (AML) and Customer Due Diligence (CDD). These procedures involve identity and financial verification, but differ in purpose.

• AML Checks focus on preventing criminal activity, such as money laundering, by verifying that your gambling funds are legitimate and legally sourced.
• CDD Checks ensure that operators know their customers, assessing risks like fraud or irresponsible gambling.

Source of Wealth checks can be part of both AML and CDD processes, often requiring detailed financial information. They may also be triggered after you have participated in a standard KYC (Know Your Customer) check, which primarily focuses on verifying your identity. Understanding these checks will help you appreciate what’s required and to avoid unnecessary delays.

Forthcoming Gambling Reforms in the UK

The UK government’s High stakes: gambling reform for the digital age policy paper introduces new measures to enhance player safety in online gambling. These include frictionless financial risk assessments and light touch financial vulnerability checks, designed to identify financial risks without unnecessary disruption.

These reforms are currently in a pilot phase administered by the UKGC, introducing new rules that boost safety and consumer choice, testing deposit thresholds via light touch financial risk checks in two stages:

• From 30 August 2024, players depositing £500 or more per month will undergo financial risk assessments.
• From 28 February 2025, this threshold will reduce to £150 per month, increasing the scope of these checks.

In summary, and as explained by the UKGC, this is a pilot phase testing how financial risk assessments can be implemented, practically and without friction. For now, they do not directly affect customers. We will keep you informed of any changes, if or when these reforms are fully implemented in the future.

Common Concerns & Answers

Source of Wealth checks are a hot topic of discussion amongst gamblers, often leading to confusion and misunderstanding about what they actually involve, and how to respond. The intention of our guide is to clarify many aspects of these checks, although we appreciate that you may have further questions.

We have explored some of the most common questions and concerns, raised by casino players at various online communities and forums. Below, you will find answers to those questions.

Can I refuse to comply with a Source of Wealth request?

Yes, you can refuse to go through a financial verification if you think it is unreasonable or if you do not wish to disclose highly sensitive personal information.

What happens if I refuse SoW?

Your account will be closed, as per AML requirements, but your deposit should be returned to you. However, any subsequent winnings after the SoW was initiated will not be paid out.

What happens if I fail SoW?

Your casino account will be closed. If the casino suspects money laundering, they are requested to submit a Suspicious Activity Report, and you may be further investigated.

Can a casino request a third-person bank statement?

Yes, a casino may request a third-party bank statement if it is relevant to the Source of Wealth check, such as when significant payments or funds are transferred into your account from another person.

Is GDPR breached when a casino asks for a third person's bank statement?

No, GDPR is not breached if the request is necessary for the purpose of fulfilling anti-money laundering obligations.

Can I deposit money and play once a SoW is initiated?

While the casinos are required to pause withdrawals until the SoW process is completed or terminated, as per UKGC rules, the deposits and gameplay are at the casino's discretion, but the rules aren't in your favour. Even if allowed, it's wise to avoid depositing or playing during this time because your winnings might be forfeited.