Topic: Betting Features on any Banking or Financial apps should be Removed - page 2. (Read 637 times)

I tried to check several of my banking applications or money transfer applications that are legally valid, it seems I didn't find a feature like "Betting" It seems like it is only displayed and made in certain countries such as Nigeria or other neighboring countries.

Maybe for illegal gambling countries, I think the betting feature is not allowed or prohibited by banking authorities, I think the authorities in Nigeria are collaborating with gambling, The proof is that they put a gambling betting feature in the banking application. Of course, if you don't want that feature to appear in the banking application, You and the people there must make a proposal to the relevant parties regarding this issue so that it can be removed from the application, even though it is difficult to do, Maybe you should try first, to complain to the banking authority responsible in your area, if it bothers you.

That is actually the challenge because many see gambling as something that reasonable people are not suppose to indulge in since they are seeing those gambling not being successful in it and wasting their money. If gambling were an aspect of life where those who are in it are doing well, of course people will want to go further in it by searching for ads themselves. In the past, you are regarded as in responsible if you are a gambler, you are not regarded in the community just like those who are drunk. However things have changed and so long you are able to make profit from whatever endeavor you are now regarded. Gambling ads will keep flashing in our faces since job opportunities have reduced and people have gone towards trying their luck in other endeavors.

Anything in excess is not good. Not only is gambling bad, but even those who love to shop online can be negatively affected if a banking application includes shopping features. They might lose control of managing their funds.

The problem is that some people immediately view gambling as a bad or illegal thing when, in fact, its purpose is only to entertain people, similar to the concept of shopping online where you spend and enjoy.

I have never seen any gambling promotion in my banking application maybe this is because it is not an online or digital bank. I have observed that this ads are popular with these new generation digital platforms that want to also raise revenues from these advertisement. Digital bank users can easily become gamblers that is why these casinos pay heavily to advertise on these bank platforms..

In my country, you will have to be an adult to own and run a bank account. So most of these bank users have reached the age of gambling,  hence I don't think they are exposing these adverts to underaged citizens. But I also agree that showcasing these adverts on a bank platform can lead to gambling addiction or unplanned gaming. Nonetheless you don't have to rely on the government or regulatory agencies to help you control your gambling activity. If what triggers your urge to gamble is advert you might become a gambling addict because these adverts are almost everywhere. Just in my street of 20 houses, you can find close to 10 bold banners advertising a casino.

But this innovation can have a bad impact on customers, especially those who gamble frequently or have never gambled at all. This will arouse curiosity for those who have never gambled, especially if the customer already has money in their bank account. Yes, I will also immediately look for another bank that doesn't have a betting feature like that so I won't be tempted to try it. Those who see the betting feature on their banking app should visit the bank and ask them to delete the app as it could disturb them when they want to make transactions. We are just being on guard against all the possibilities that could happen because we are human beings who are easily tempted.

I agree with this.

It doesn't really make much of a difference in a person's gambling activity if he could access betting directly from a banking app. A gambling app is most likely downloaded separately on his phone anyway. My only concern here is the security involved in connecting your funds to third party apps like e-gaming. Their security guys are probably top tier but still.

I have opened more than 10 bank accounts in the past including the use of their apps and I assume that there are no betting features in our banking apps. I also have lots of financial apps and I also found zero features that allow its users to bet. But this is not a surprise since some years ago I found out that our bank debit cards are also restricted from making deposits in online gambling casinos.

I believe that gambling should only be introduced to mature people who are at least not down financially. Gambling is fun but there are just a lot of people who do not understand how it works.

If I see that there is such a betting system in the bank application, I will cut off my relationship with my bank and start working with another bank. I think that this is actually an innovation made to put it in my eyes and attract my mind, and I think that they have tried every way to make money and that they have brought such an innovation for this. If I can't have myself, that is, if I succumb to my emotions, I easily have the chance to bet here and this would be an event that would make me bet continuously. The purpose of this is not to deal with loading money to sites and giving commissions, they must have done it to get that money and commission directly themselves.

I fully agree with you, there should be laws against banking apps offering gambling and betting opportunities. In my opinion there should be a clear boundary between institutions that look after your money and offer financial services to send and receive money, and casino and bookmakers that offer entertainment and the chance to become rich. Offering everything in the same app is not fair for all the gamblers who are struggling to control their bankroll. For me it was one of the hardest things to learn in gambling to remain in control of my bankroll and not chase my losses. In case now all our money is in one app and with one click we can transfer money from our savings account to the casino it would be a big problem. Already the feature to see all your balances with one click can lead to people starting to bet with much larger amounts and might lead to losing all your savings. Hopefully this was only one bank doing such a new service and the other big banks won't follow. In case my bank would change and start mixing banking and gambling I would probably switch to a different bank. For me the risk is too great that one night after some drinks I might start gambling with my savings and lose it all.

Yea, in my country.... some Banks allow you to buy National Lottery tickets from their Banking Apps.... making it very easy for people to gamble directly from their Bank accounts.

I am one of those people who would totally forget to buy those tickets on a regular basis, but thanks to that App... I now buy tickets on a weekly basis. (it is pure evil)

Banks should keep you money safe, not encourage you to use it on gambling. I know some Banks allow you to switch off that option for religious reasons. 

I think this is the first time I have seen a bank offering gambling services as well which does not inspire me any kind of confidence, banks should be prohibited from offering such services as it goes against the express purpose for the existence of banks, however we should not stop there, now many video games allow their players to use features that are nothing else but a form of gambling, and I really think that kids and young people should not be exposed to gambling at such an early age.

They obviously do it for money because they will charge a commission for that from the service provider as well as the user. If gambling is legal in a country, a bank is also allowed to provide such services where they partner up with a betting platform to provide users with the option to make bets directly with their bank accounts or maybe deposit money in their betting accounts using the bank app, both the betting platform and the bank benefit from this partnership.

However, if gambling is not legal in a country, a bank cannot provide such services to its users because that would be going against the law and financial institutions never do things that are against the law as law is what protects them in the first place even if they are private or government controlled.

Integrating financial data with gambling poses concerns. One would think, "Ah, convenience!" However, digging further reveals the issues. Combining these two reveals someone's gambling habits unintentionally. Concerns include privacy and impact on others. Your concern that the bank app will advertise gambling is valid. Banks handle it; casinos gamble with it. If lines are blurred, many people, including non-gamblers, may find gambling appealing. Why lump apples and oranges together when they're different? It's one thing for banks to profit from gambling. neglecting social effects? A separate game altogether.

Well for some people this may be convenient that they can now bet directly using the mobile banking app and sending/receiving money from betting would go directly to and from the bank account. So, If you do not want to use this feature, you may ignore it but there may be many people who are willing to bet from the app.

Yes, sometimes it is tempting to bet, if you see the betting button on your mobile app, whenever you open your app. But then people need to be emotionally strong. If they do not want to bet, only the betting button should not be an excuse for them to bet.

Yes, it's the same as in my country, when cigarette packs say that the dangers of smoking can cause heart disease, they even add pictures of people sick from smoking on cigarette packs, still people will continue to smoke, the same is true with this banking app, actually that's all. Returning to each customer, perhaps they should already know about the big risks because gambling can cause addiction.

So all of that is the decision of their customers and it may also be illegal in that country so for banks to add it to their app it won't bother the customers either, but maybe the gambling addicts won't be able to stand seeing it there because they will try the game for a while to seek luck, but non-gamblers will think it's normal and think it's the same as the cigarette advertisements they usually see on TV. business

If it's just a business deal, whether a gambler complains about what he sees on their app, there is nothing he can do. From the perspective of many who are very much worried about other gamblers it will make them want to gamble more, but they don't like it. Opinions are also cut into half where this seems to be fine for some and there are also the folks that disagree with this matter.

IMHO, this is a good point. There are banks that have young depositors and they just have to restrict that visibility to the minors if ever there are kids like them that are registered on that app. Like an automatic blockage for this feature or being hidden for certain demographics of users.

His curiosity will grow even bigger when he hears that someone has succeeded in winning a bet through his banking application, and he will try to prove it. But if he loses the bet, he will still try because he will become more curious. This can make someone who has never gambled start gambling using the betting features in their banking application.

Of course, the bank will avoid this mistake on the pretext that they don't know anything because a third party made the application. That is the easiest answer from the banking sector because they don't want to be blamed for making people gamble through the betting feature in the banking application. This needs to be conveyed to the banking sector so they can remove the betting feature and avoid any victims.

Consumers can also report it to the authorities, in this case, the police because this violates the regulations in their country if the country prohibits gambling. The authorities will investigate the case and ask the bank to remove this feature from its banking application. If this feature really bothers consumers and can later cause new problems, namely gambling addiction or reduced balance in their accounts, the bank must delete it. Usually, this story will be responded to by the authorities if it goes viral on the internet because it seems like the power of this virality can move the authorities to investigate it.

So it is like they are passing your banking personal information to a gambling platform once you sign up. This may be good for a gambler as it is less hassle and there is no KYC once it is done as you've already submitted the requirements to the bank, making it less of a scam, but the problem is that they are showing publicly that you can bet or that the menu is outstanding in the app, which can attract other people, even non-gamblers. I know it is a marketing strategy, but when it comes to gambling, the risks are huge because it can ruin people's lives.

No matter what, it is better to kind of separate it from the bank app to another app just to be safe, as there are tons of people that are using the bank app, which can trigger them. They are only thinking of the possibility that they can gain more profit from it and not that they are concerned about the people.

Putting gaming into a bank app is a bit of an odd combination. Banks have always been seen as signs of safety and savings. Adding gaming to this area does make things more complicated. You brought up how easy it is to get to online gaming sites now. An in-app gambling tool in a bank can make things even more confusing for users. It's like selling candy in a store that sells vegetables. Even if the veggies are the main thing on offer, having candy around can make people forget about them

If people who gamble can see what could go wrong with this kind of blending, it raises red flags about the bigger picture. Even though innovation is a good thing, it's important to know where to stop, especially when the financial health of users is at stake

It's not bs, the area where it's been placed is inappropriate. It's like when you're trying to leave for a while and stop but suddenly, it's not even that long until you see that feature is even on your banking app. But I guess, just as you've said, to each their own.

You've got the point. Yeah, they can put that and it's all just for our opinion and it's like telling the smokers that probably have trying to quit and smoke again. Anyway, it's just like a typical ad but on this one, it's on a banking and it's a feature. It's both on fault, gamblers that can't help themselves mainly.