PayPal Restricted if March Madness suspected
March 15th, 2012 at 10:18:35 AM
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From Bloomberg
EBay Inc. (EBAY)’s PayPal has begun restricting accounts of people it suspects of using the payment service to place bets on National Collegiate Athletic Association basketball championship tournament.
PayPal has sent alerts to some users who have used the service in connection with March Madness wagers, saying that their account use has been “limited.”
“After a recent review of your account activity, it has been determined that you are in violation of PayPal’s Acceptable Use Policy regarding your sales / offers of March Madness sports pool,” a representative of PayPal’s brand risk management division wrote in an e-mail obtained by Bloomberg News.
The user agreement for PayPal, EBay’s fastest growing business, prohibits U.S. account use for sending or receiving payments for “activities that involve gaming and/or any other activity with an entry fee and a prize.” The widely followed men’s college basketball championship kicks off this week.
The e-mail asks the user to sign an online “Acceptable Use Policy affidavit” to regain full use of the account.
Bergen Kay, a spokeswoman for San Jose, California-based PayPal, declined to comment on how the company’s system identifies alleged gamblers.
“PayPal follows all the legal and regulatory rules in the U.S. as it relates to gambling,” she said.
To contact the reporter on this story: Mark Milian in San Francisco at mmilian@bloomberg.net
To contact the editor responsible for this story: Tom Giles at tgiles5@bloomberg.net
EBay Inc. (EBAY)’s PayPal has begun restricting accounts of people it suspects of using the payment service to place bets on National Collegiate Athletic Association basketball championship tournament.
PayPal has sent alerts to some users who have used the service in connection with March Madness wagers, saying that their account use has been “limited.”
“After a recent review of your account activity, it has been determined that you are in violation of PayPal’s Acceptable Use Policy regarding your sales / offers of March Madness sports pool,” a representative of PayPal’s brand risk management division wrote in an e-mail obtained by Bloomberg News.
The user agreement for PayPal, EBay’s fastest growing business, prohibits U.S. account use for sending or receiving payments for “activities that involve gaming and/or any other activity with an entry fee and a prize.” The widely followed men’s college basketball championship kicks off this week.
The e-mail asks the user to sign an online “Acceptable Use Policy affidavit” to regain full use of the account.
Bergen Kay, a spokeswoman for San Jose, California-based PayPal, declined to comment on how the company’s system identifies alleged gamblers.
“PayPal follows all the legal and regulatory rules in the U.S. as it relates to gambling,” she said.
To contact the reporter on this story: Mark Milian in San Francisco at mmilian@bloomberg.net
To contact the editor responsible for this story: Tom Giles at tgiles5@bloomberg.net
when man determined to destroy himself he picked the was of shall and finding only why smashed it into because."
— E.E. Cummings
March 15th, 2012 at 10:21:57 AM
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Just more ridiculous nonsense from the powers that be.
Garbage.
Garbage.
March 15th, 2012 at 10:55:00 AM
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Only those private entities that have paid their lobbyists on K street
or lined the pockets of their congressmen can profit from gambling.
Typical American hypocrisy
or lined the pockets of their congressmen can profit from gambling.
Typical American hypocrisy
In a bet, there is a fool and a thief.
- Proverb.
March 15th, 2012 at 3:28:26 PM
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deleted
DUHHIIIIIIIII HEARD THAT!
March 16th, 2012 at 12:08:44 AM
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The problem is advertising such a pool or receiving payment online. Most pools have code words of "points", "credits", etc. to use as euphemisms. And people can transfer money all the time for splitting a restaurant or bar bill, for instance. I find it hard to believe that, without advertising it on the Internet, that Paypal would know the purpose of the transaction. Discretion is always better - most offshore bookies have some semi-plausible cover story to use when you WU or MG the money over.
