Topic: Betting Features on any Banking or Financial apps should be Removed (Read 793 times)

What do you expect when everyone is after they own pocket,  banks are operated to generate revenue and that is why their can under go any activities that will generate more income,  what most banks in my countries are currently doing is to always offer your discount if you deposit into your bet accounts using their banks apps,  this have become a trends and most times,  on any match day,  this banks will send an email informing you of how much you can earn as a promo if you credit your bet accounts using a special code.

Some of them even go as far as putting up a ground prize for those who make the highest deposits using the bank app,  but I haven't seen any bank that offers a direct prediction and satking feature  before.

Mate, I really thought it was only happening on our country but it's great that someone shares their experience here about those apps. I think the only difference on the app that I use from yours is that the casinos seen there is like an advertisement only and when you click on them you will be redirected to their main websites. It's only crazy that even these formal apps/companies are now joining the gambling trend.

I thought it was only the desperate influencers who are are promoting them. This can backfire them badly because the customer can use their money or savings to the gambling site that they are promoting and they will soon decide to delete the app because each time they see a money there they will only gamble it.

Well with all these statements it is Clear that Things can happen in any way when you have Several money , the truth is I don't have that Many money in my country , in fact I have About 3-4 money and I don't really use them, since year 2020 that I did not use again, because in my country the local currency is so bad that at any time these things from a casino Would even be profitable for a bank, but I think this has not Occurred to them Under any Circumstances , and I don't know, but it could work for them because with That it would Give the banks more liquidity and they could do something very good, of course in this Country where Inflation is no longer even calculated due to the fact that it is not always It's worth it, it Happened after a large Percentage that no longer makes any Sense.

In this Order of ideas I think that a Bank if it Adds a casino or Mini-Casino where its Users can Make use of it is not alright, 'because it is not a bad idea, they also have somewhere to Complain, which Seems good to me, in another It makes sense if things go Wrong, I think that the Same Bank would have as a basis that since it is a Bank it does not Make Sense to steal its clients, then it would not need to do or comply with KYC, because in a bank all that is already there and more, what if I would have a doubt that if it were done, how would those who want to bet on the big players and win big, how would they make the withdrawals? Would the bank then grant the large withdrawal? because one Thing is True , while the bank knows that Everything Was Below a Normal level and if there were cheating, then it has to Comply, because I don't think it asks for the origin of Funds , that's the only thing, besides what I can imagine is that the bank would charge a very large tax for playing in the same bank, I would not See it as something that can be Considered good , but they Set their rules, imagine that if a player wins a lot, then he has the Right to make the transfer of the Amount he wins , if Such a thing is implemented in a Bank.

I also think like you because if banks don't partner with betting platforms, those betting features won't be on those apps. People also won't notice any betting features when they use the app. The bank will get a commission, even though the commission is small, but if many people are interested in trying the features, the bank will get a lot of commission.

The bank should be able to think about the consequences of having a betting feature in the application. After all, not everyone who uses the application can protect themselves by not pressing the betting feature. Some people will be curious about the betting features and in the end, they will try betting through the betting features in the application. The bank should remove the betting feature before many people complain about it.

Gambling addiction is nowhere near as prevalent as alcohol or drug addiction, I would even venture to say that social media addiction is way more prevalent than gambling addiction too, however gambling due to the different movies which have been made and the story of modern casinos it has been associated with criminals and other people like that, so some people still have a very negative image of gambling, even if right now online gambling is the most popular way to gamble and there are no additional risk associated with it.

Kind of weird, this is the first time I have heard about financial applications featuring gambling or getting features...

Those apps are supposed to benefit from people saving money and they positing their wealth there in the long term. The only logical explanation I can think of is that the owners or those behind the app got a deal with a bookie, the bookie gets indirect advertisement to people (who have money) and the app for financial services get a cut off it.

I have encounter feeling kn this one, I am not sure how moral this is...
People seeking for save investments are not supposed to be suggested to gamble.

Standard banks I believe are not those who are in the subject here.

E-mobile payment services are now acting as a bank and that's where the most feature like betting is present in most cases.

Regardless, if the betting feature is really present in the online application of a "standard bank", it's like a form of partnership as part of promoting the said bank to be used as a payment method and definitely, there should be no extra charge here as why the hell they will do that. Since digital banks and e-mobile payment services are rising, especially here in our country, one way to attract more users at them is to reach those users at the most crowded industry and that is online gambling.

I don't understand why people see gambling so badly, I don't know for others though but I haven't seen a person in person that gambling has rubbish or destroyed life as they put. I have seen people take stupid risk though like using their school fees thinking they could double it and for that, I understood their frustration if been a student and looking for alternatives to make money for feeding or getting some swag up clothes but then, even if they lost their games, they do find a way to pay that money before they close the portal and after that, they are fine with their studies, gambling isn't really the way they hype the downside of it, it can be addicted but sometimes, we need to calm down with the addiction discussions.

Can we even deny that Bank Apps are not useful for making deposit for Casinos that accept fiat? It's a choice, if you like the feature use it and if u don't, terminate it and if you must quit the bank, register another bank that doesn't have such features, it's as simple as that. I love the Banks features because they don't support only betting, they also allow you pay TV cables like Netflix, electricity bill, water bills and others which is cool for me instead of doing it in the web with debit card.

I believe the bank has partnered with a betting platform and the bets will be made on that platform and the bank will most probably redirect the users to that platform. Or, maybe users can use their bank accounts to top up their sports betting account on that particular platform. They probably get some commission from the total bets made by the users that the bank has redirected toward the platform because banks would probably not just do it for nothing.

I also keep wondering if the bank also charges the users some commission for using them for placing bets because if they do, why wouldn't users use the platform directly instead of using it through the banking app to avoid paying extra money? They would use it if they weren't charged anything extra, for sure.

That's very true because people will see that the banking application already has a betting feature so that those who are used to gambling don't need to visit the casino but can use it immediately. But I'm curious what it looks like. Will the bets be directed to a particular site that collaborates with the bank or will the bank have bets on interesting things? Maybe @OP can explain what kind of betting feature a bet so we can know it more clearly. But if you look at the picture included by @OP, it looks like it's a bet using chips. Is it a card game? Hm, this makes me curious hahaha.

I think it should have a bad effect on everyone. I think it's ridiculous that banking and gambling betting are in the same application.
Yes, for people who are not involved in gambling, there is a chance that they can get involved in gambling in an easier and safer way and maybe become addicted to it.Either they will not use the app or they will not continue on the same path with the bank anymore.
I don't agree about being easily seduced, I'm confident and I can take care of myself, but if there is betting on a bank app, I find something strange about that.

Which it isn't actually making users to directly bet. But somehow they allow users to send funds for the betting account. Seem so different but still the same effect.

And like you said, anyone with that Opay app will eventually find out of that option when they navigate around the app. I think this is really part of the freedom we want which we wanted to do just about anything without funds including the betting platforms.

I can boldly say that the image on your post is a screenshot from Opay homepage. In as far as the image you posted is accurate and has the betting icon on it just like the rest of the banks, the content of your thread is very misleading. Opay as a fin tech institution is operating just like other established commercial banks in the country and it's among the best mobile banking app when we talk about fast transaction and less fee. It's important to note that the betting icon on the mobile app will never allow you to place bet directly on any match as you said in your post. It only allows you to fund your bet account and to make your wallet funding easier without card. There's also a limit as to which betting platforms you can be able to fund using the app.

Majority of bank apps have this feature so as to aid bet wallet funding as the number of gamblers keep increasing on a daily basis. Banks are out there for business and they can do whatever to keep the business running. You can ignore if you're not interested in using the feature to fund your wallet. Unless every features that allows us to pay online bills is removed, betting feature can not be removed. If everything is now removed, then we can use the app for just sending and receiving of money only.

We must always remember this so we don't get too good at anything because it's not good for us. And if it is gambling, we must always be able to manage funds for gambling so that we don't experience bad losses. And if a betting feature exists in his banking application, he can be even more wasteful in using his money. He couldn't save like before because he now had other places to use his money through betting.

It's normal for people to think that gambling is bad or illegal because they have seen what happens to people who gamble. Brands see the bad impacts experienced by these people, so they think gambling can have bad consequences for their lives. And that's true if people don't have good self-control when gambling. But especially for people who can control themselves, gambling is not bad but rather entertainment for them in their spare time.

So, it is clear that a banking application with a betting feature can have a bad impact on someone who, even if he doesn't know about gambling, can start gambling. He can directly deposit his money to a bookie or online site via his banking application without considering what will happen to him and his money. The impact of gambling will be even worse if he does not have good self-control because he can deposit his money again when he loses and do this immediately in just a short time.

It's not easy to go to the bank to ask to remove this feature, but at least we've tried it and we'll see how the bank responds. And if the bank has not removed this feature within a month or two, maybe we can look for another bank and start moving all the money from that bank to another bank. We don't want to experience bad events because of this betting feature; therefore, we must anticipate it. Many other banks still don't have such a feature unless we are too lazy to move to another bank.

IMO, that curiosity after ticking in and being filled and the result is losing is that's going to make that person stop for a while.

If it's added, there has to be some meeting before putting features into their app since they're a customer-facing business and an app like that should be approved by the boards first or whoever are the people that are tasked to design it.

Have to realize that if the government allows that, whether people like it or not, they have the control to their own app if that doesn't violate any law.

 Apparently, it's an ad and any platform behind the links are paying heavily for that... they'll always do anything to keep the maintenance and secure additional funds to themselves... It's not proper as other international banks don't operate like that but what have you to say to them to change their mode of function?? Nix!
It's just safe for everyone out there to avoid such options... I notice them too, buh I don't even dare click on them - if it happens, then that's inadvertent.

Sandra 🧑‍🦰

They'll just say they are not responsible in it if the person would get addicted to it. Well, partly they are responsible in it as they likely urge the person see it and it will really sparks curiosity in the first place if it will be seen like that. I really agree on your perspective, even in my country they don't reveal such thing but it's there, maybe just hide it in plain view.

Obviously this is not possible in countries where gambling is not legal, so I confirm the accuracy of your information.
So far, Indonesia is not a country that legalizes gambling of any kind, although several big bookies have succeeded in building covert businesses. Bank Indonesia, whether government owned or private, will not support gambling due to regulations, but banks still have a role in processing the proceeds from gambling winnings.

In countries where gambling is legal, perhaps banks can develop their business products by supporting gambling. But I don't think gamblers need to gamble openly like that because so far crypto gambling should allow them to gamble anonymously. KYC is a different story, but crypto gambling is much better than fiat-based gambling, especially if it is controlled by the government.

I have not seen this kind of direct betting option on my mobile app before. What I have seen is the option of using your mobile app to fund your betting account directly, which I see as a good option considering the fact that they will save you the fee of other third-party charges for that payment. 

I also don't see anything wrong with them integrating such an option on their banking mobile app, although this kind of option can only be seen on this new online banking system, which is not like the regular bank of a country, as most of these new banks are looking for means to meet up with their competitors, and as such, looking at the rate at which members are gambling these days, they really need to look for a medium to attract them to their app. Maybe they could apply some sort of promo code for anyone who is going to use their app to play directly.
 
I don't see any problem with what the bank is doing because I believe it must undergo some kind of licencing and legal proceeding before it can implement it. If the financial body of that country doesn't see anything wrong with it, then everything should be in the customers hands; they should be the ones to decide if they are to play with their money on their account or if they should respect themselves and know their gambling limits. With or without that option, those who know their limit will have to respect it; if not, when they want to gamble, they will still fund their account using whatever means they choose.

The main impact of this problem is that someone who has an account on the banking application will never be able to save and that is certain, even if he is a beginner who is not yet familiar with gambling, in the end he will also be tempted to try even though novice gamblers are more susceptible to addiction because they are more curious. to keep trying to want big wins from gambling.
Furthermore, the impact of the gambling feature in the banking application will certainly mislead someone into continuing to gamble even though everyone must have self-control and responsibility, but out of 1000 people, only 1 person has very strong self-control and that is a fact.
It won't be that easy for us to go to the bank to ask to remove this feature because banks usually add this feature with approval from the state so if they have to remove this feature the bank cannot do so unless it has approval from the state.