It can happened on sports competition especially local competition. Like here in our place, there are lots of good billiard players here but lack of funds to compete. There are guys called "manager" and the one doing the whole finance on that player. The agreement will now be between them and won't be disclosed to anyone.

There are also cases in gambling where players combined their money for a larger bankroll.

In that case to your story, you should also look at the other side of the story. What if both parties agreed?

I'm sure that person who take that service is not that dumb to just allow its money to be put on risk. Right?