Paypal is one of the most popular and commonly used payment methods around the world; it is easy, safe and straightforward. One of the most common uses of Paypal is to make deposits and request withdrawals at internet casinos. Paypal is currently facing accusations in the United Kingdom for providing players with gambling problems the ability to spend what can amount up to £150,000 every day. Such practice has raised a lot of concern regarding the usage of this international internet payment option to avoid the limits of banks.
UK Legislators and Experts Urge Paypal to be More Responsible
The legislators in the United Kingdom, as well as the gambling experts, are urging the company to be more socially responsible so it can prevent problem gambling from racking up massive gambling losses, which can result in them going completely bankrupt. That is not all, as the DCMS (Department for Digital, Culture, Media, and Sport) of the United Kingdom stated that the UKGC, the gambling watchdog of the United Kingdom could start considering internet payment options a part of its review of the usage of Credit Cards to gamble.
Paypal- What Makes It a Popular Service?
Paypal, as an internet payment system, allows its users to transfer money to anyone who has an email address and a Paypal account. A Paypal account connects to a bank account or a credit card, but the users can also use the Paypal Debit Card to withdraw money and make purchases. If the user empties their Paypal account, or they do not have enough money to cover the costs, Paypal will pay for the expenses through the bank account, a debit or a credit card. The Labor’s Party Deputy Leader, Tom Watson, stated that Paypal and other companies that provide online payment services should be more responsible, and they have to be able to detect the symptoms of problem gamblers. They should then work according to these signs and prevent the problem players from accumulating a tremendous amount of debt.
After the media reports of this concerning practice involving Paypal, the payment operator stated that it has found that there is a possibility that people are misusing their service to fund problem gambling. The company also indicated that it is reviewing its controls, and will make sure that there are stricter payment rules.
A Case Study by Psychiatrist Henrieta Bowden-Jones
Henrieta Bowden-Jones, a psychiatrist that established the only NHS clinic that specializes in the treatment of problem gamblers, confirmed the rumors that users are utilizing Paypal to go around the bank limits. According to the Guardian, Ms. Bowden-Jones shared that she encountered a player who used Paypal to make online payments to gambling websites, and that patient was only 20 years old and had no savings.
She added that the young man had reached his bank card limit, but he was able to withdraw two-thousand pounds every couple of minutes through the debit card and used that money to keep gambling, and he ended up with 150,000 in losses.