For many years now, PayPal has been one of the leading online banking services which allows individuals and companies to send and receives money online across geographical boundaries and irrespective of the currency being used. It’s gained a position of high trust and reliability among users over time.
One of the reasons is because they go over and above the norms to ensure that they’re maintaining the highest levels of safety and security; not just in making money transactions online but in securing the users as well. And in another bid to protect their users online, they’ve launched a new program that restricts gambling transactions of PayPal users on the internet.
Paypal launches gambling restrictions
No, we don’t mean that users can no longer transact with gambling websites through PayPal. We actually mean that users can set their own restrictions for online gambling, in case they don’t have the will to control their spends on gambling. Gamban is a software that individual users can implement on their PayPal account to prohibit making gambling purchases when their willpower fails them.
Easily said, it’s a mechanism that will help people that are struggling from gambling addictions. The Gamban official website put out a statement regarding PayPal’s want to reduce problem gambling, saying, “PayPal expressed “extreme concern” after learning that its service was being abused to fund “excessive online gambling”. It also stated that it had reviewed controls and was tightening payment rules.”
SEE ALSO: List of top online sports betting websites
The Gamban software has the ability to block or ban all transactions to gaming website that require a deposit in order to play games of skill or chance online, and it available to use for users from the United States and the UK as of now. The software can also block craps, faro, baccarat, blackjack, pachinko pai gow, roulette, horse/dog racing and virtually any other casino game available online, if activated.
Gamban has the ability to block:
- Simple betting between individuals.
- Sweepstakes betting, where large entry fees, or stakes are pooled before being awarded to winners.
- Bookmaking betting, where speculators offer odds against each horse or dog and accept bets for their predictions.
- Pari-mutuel betting, where betting odds on a given horse or dog are derived from a comparison between the total amount wagered on the animal and the total wagered on all the animals in the race.
- Off-track betting (OTB), where players bet on a race taking place in a location outside of where the bettor is situated.
- Purchase of online lottery tickets.
- Person to person betting.
- Gaming machines.
Online gambling continues to rise in USA, UK and the rest of the world. Being a leader in online payment systems, PayPal is doing their duty to curb problem gambling, or at least regulate it online. For similar updates and news stories from the world of online gaming, stay tuned to ReadScoops.com…
Register on Betway and get massive FREE Bets every week
