Topic: Betting Features on any Banking or Financial apps should be Removed - page 3. (Read 645 times)

I don't find it negative, to be honest. Banks want more transactions to increase their income, so that is alright in my opinion. I think what should be promoted is how to be a responsible gambler. Instead of just viewing gambling as a negative thing that could lead to gambling addiction, we should focus on educating people about the risks and promoting responsible gambling.

Business is business; it should not be influenced by religious beliefs or personal beliefs. As long as it's not illegal, it should stay.

Partnering is okay but it's different in this case, they are the ones who are doing the gambling business inside the bank application so I think there should be something to worry about.
It encourages a bank client to gamble which I think should not happen especially if one of the bank's goals is for their customers to save their money. Sure, it will depend on each customer but like I said, because the feature is there, it encourages someone or it could be the start of another gambler being an addict in the long run.
Online gambling sites are already easy to access in todays era, might as well make services like banks and other financial industries clean of it to avoid people wasting their money in a flash. For gamblers, this will be okay, but I doubt those who don't. I am a gambler and yet I am against it.

Wait, is that really a banking app or digital fintech service? Can they easily offer something that is not relevant to the business orientation?, because the banking that I know is tied more strictly to policy. If that really happened there, I totally agree with your opinion, OP.

Anyway, my focus shifted to the bottom 2 rows of bars in the screenshot. Is it advertising? It seems like your local bank only cares about their income, as long as it's big money.

I think these type of features are already banned in my country because whole betting is done by monopoly company. But I am not against it. Banks could partner with some legit gambling companies like stake to give, for example, bonus to their customers. This is good for both businesses. To open a bank account you already give your whole information so it would be far easy to start gambling that way. I think its nothing to worry as kids won't involve at all.

Its no surpise anymore that payment apps in different countries are allowing users to send money to a casino and not get locked. Paypal used to make it a violation of their policy but if they allow BTC to be withdrawn, that policy is irrelevant anymore.

Banking apps is not so different to CBDC wallets, I would be looking forward to also see these financial apps having a link to crypto investments not just gambling.

well, my country doesn't have that, but I believe it doesn't have that for the following reason: gambling is regulated in my country, that is, the gambling company must have a license and headquarters if it wants to operate within my country and my banks parents would charge a lot of money if a company wanted to pay the bank for advertising, probably just for the company name to appear in the bank application, the bank would charge thousands of dollars, and many casinos and gambling sites would not spend that much money paying for advertising in some bank when they can pay for advertising on tv, on social networks and in soccer, basketball and other sports leagues in my country

Now talking about this case that the op posted, there is nothing wrong with gambling, in the same way that cars that can kill people when they drive badly, there is nothing wrong with it, the problem lies with people who have no sense, if The country's laws allow casinos to pay for advertising anywhere, including in banks, so there is nothing wrong with the bank's app having options to finance a gambling account, it is up to each person to have judgment, to know how to manage their own money, be aware that gambling is not something to make a profit, but rather is a form of fun.

In cities we see advertising for wines and beers. but wondered how many people are dying every day due to alcohol addiction? Have you ever wondered how many people are involved in car accidents because they consumed too much beer? We are talking about very large and frightening numbers, but wine and beer advertising does not stop in cities, on TV and in many corners. this is because it is up to each person to be responsible and know that they should drink in moderation, in the same way that each person must play in moderation.

It's bullsh*t to point out that this betting feature on the banking apps will give gamblers more eagerness to gamble.

Prior to this betting feature at some banking applications, just looked at how online gambling evolves and attracts more users as years progress and it will grow even more. There's no stopping it but only a total gambling ban globally which is far from reality. Even if these banking apps will remove that feature, will it really minimize gambling activity? It's a clear no.

The bank can put their desired feature on their app as long as it is allowed by the law. They won't adjust just to the problem of a growing number of gamblers. Why should they? People are the problem, not the bank feature, and not the "gambling" itself.

If the gamblers doesn’t like the way of banking system which market the gambling because for the money.The best way to do correction will be report the same to the bank using the online support,if you are not ready to manage the terms in the bank.Not only the banking applications,most of the application in the internet will use the gambling and other spots bet for their advertisement.So the bank will remove that feature only to your account based on the request.If your friends also suffering the same problem,you can also help your friend by sharing to contact the banks for the solution and ask to manage the support  of the bank.

It is for sure that there will be customers of theirs that will be curious what that feature is all about. Despite of able to read the actuality of that feature, the curiosity of many will still be clicked. Since there is a customer support section for all of the banks, yes, a demand to remove that feature can be done.

Well, they know what they're doing and they can blame the bank itself but this is just on their mind that's trying to find a fault in their banks. Because that will become a reason for them to continue to gamble since the app has got that feature whether it redirects them or allows to bet directly.

You may be correct on the part of saving for the future as one of the main features of operating a bank account,  but then also banks make their money from other fees accrued to each transaction and knowing how frequently local gamblers credit their casino accounts the bank will be making a lot of money on daily basis coming from those numerous transactions.

And having those casinos listed on their mobile apps makes it easy for usage and also serves as a promotion for the casino,  so to me I believe that banks as commercial entity will definitely will continue to have those payment features for casinos as well as other bill payments.

Having betting features in any banking or financial app carries a lot of risk as gambling features are not safe in the banking sector and banks are better off saving for the future. Using banking applications you can easily access your banking account check balances transfer funds and overall you can access almost all the products and services offered by your banking institution. But in gambling the chances of being cheated are high the banking system is under the control of the central government and gambling is illegal, so these apps have no features. In the case of gambling banking applications are less heard they will scam the sites. Therefore, betting on regular games may require learning the betting rules and features carefully while casino sites are different for gambling.

I'm all in for banks optimizing their revenue streams. After all, a successful bank can provide its clients with better services and prices. But this raises the question of when a for-profit endeavor crosses the line into unethical behavior

For many people, gambling is an enjoyable, risk-free past time that they indulge in sometimes. However, for some people, it might turn into an addiction. Banks may assert that they are only facilitating a demand, but there is no denying the power of their support. Think about the implicit faith we have in our banks to protect our hard-earned money! Therefore, even the most self-controlled gambler may feel pressured to go further than intended when they push gaming offers

As you correctly pointed out, it's a common practice. However, something isn't necessarily right just because it's popular, does it

You remind me of Skrill the online virtual bank which was a good alternative for Paypal back in time and one thing I also noticed from using it is his promotions of Casinos and betting features once you login into your account or even their mobile application. I don’t say that’s not right for them to promote anything they want but at least taking responsibility of protecting users and customers of their bank. I had an issue with one of their casinos they were promoting on the upfront of my main Skrill account so I signed up and started playing with that casino (Leonbet), few weeks later I was surprised that the casino decided to freeze withdrawals for my region and I still had some balance with them. Unfortunately even with their promises that they will unlock it again it’s been years and everything is the same.
I would say that even if such bank applications and companies promote any kind of casino or gambling, everyone is responsible for his decision and shouldn’t be influenced by their partnership. Your money should kept safe in a better place than such banking apps.

I actually agree with your statement.

In the Philippines, we have a money application where our local currency is used as a digital currency in an online platform where you can pay various things online (e.g. bills, bank transfers, etc.). Lately, the mobile application included an in-app function of gambling on various game. I tried it and lost $2 in the process. Sure, I lost a small amount of money but the danger it brings to everyone that gambling can be accessible in money applications is just dangerous.

If they aim for convenience, then they could have made a new platform instead of integrating it within their banking application.

Banking applications with features like that will only make things difficult for people who don't have strong self-control because they will get curious and try the features. They can start depositing money directly from the application to gamble. And if this is not controlled, they can use all the money in their savings until nothing is left. For some reason, the banking sector seems to provide a way for people to get to know gambling more closely. With this application, people can directly deposit their money and gamble without anyone knowing.

Should we really be holding the bank responsible for customers possible behaviours towards offers their receive via their apps,  banks are service providers and are revenue oriented business so whatever that will generate higher income is what will attract the banks,  any ways gambling may be seen as a bad promotion from a financial institutions.

But the also business have it intakes and such is why those banks offer such services,  is quite a common practice with so many local banks getting involved in casino payment gateways service provisions.

If we can't find a way to earn it passively, we unfortunately succumb to such gambling initiatives.I have fallen a lot in my time, but this is the first time I have seen such an initiative of a banking application.This may actually be due to the fact that people want to play more with their money and have more money circulation.Exactly this is strange and ridiculous for a banking application.There are already enough gambling sites for this and it seems more logical to play there.

Personally, for me this is new, what bank or what name has that function? From what I can imagine, they must be very reliable banks, they must be banks that must have a very good reputation, if here in my aps they release an app that can be played and make a direct connection to a casino, I think I wouldn't get involved, because they Usually do it to be able to see who are the ones who enter the bank, how much they spend, and obviously to later do a study and they can generate a good tax for them, I don't know if that's how it works in other countries, but where I am the banks are In agreement with the government, and as I have said in many hill s, the Government of my country is not trustworthy, they are the most corrupt in the world and I believe that they cannot do anything good for the people, so if the sheets are in line with them to be able to survive because it is something that I would not do again, it is something that is not on my radar , what I think is because these things are not about Making money and more so in a bank, the idea is not a bad one, I would like to see what banks they are, and if there is a way to make a Virtual Account , as long as it is from Europe, if it is from Portugal, much better because I know that there they don't bother About using cyrpto or something like that, then it would be the best thing to do. ideal, and I think that many people in Europe think the same as me.

For me , the less it takes the Hands of governments , the Better , because there is no way that Anything can be done outside of the best betting and casino sites, we could do other things, you can see that for some what is best done is That a casino is as anonymous as possible without Anyone entering and seeing its data , that is, I mean governments and banks.

So it may be that for many People who like it , it's safe to play there, but the Security of those things in the games is not Adequate , well , how can you Criticize? How do you know if the advantage you have is not superior to that of the other casino house?

Not the safest place but yeah its protected by the law, so having that kind of option will just increase the fraud transactions and your account might also be affected by the hacker. Most probably that bank allowed by the regulations to have that option, because if not then for sure Bank will follow the regulation at the highest option. There’s no bank like this in my country what we have is the financial app that have this kind of feature.

Banks should not add this betting feature to their banking applications because it will trigger curiosity in their customers, so they will try to deposit money in their accounts. Indeed, customers cannot blame what the bank did, but at least they can complain to the bank so that the bank can remove the betting feature from their application.

If there are customers who cannot control themselves from their curiosity, they will continue gambling because they already have the betting feature in their banking application. Indeed, this depends on the responsibilities of each customer.