Betting Features on any Banking or Financial apps should be Removed

[Rruchi man]

~

It makes betting seem like a normal thing to do to the non gambler, like the normal money people spend on bills like electricity and subscription bills, that it is normal to also spend money on betting since it is featured in bank app designs. Some people may be convinced to start gambling from it.

For another person trying to fight addiction, it makes it easier for the person to fund their betting account when they see that they have a lot of money, the amount from which they know they can gamble with, thus making things difficult for them.

But for people who are responsible gamblers, and have their gambling habit under control, it makes funding their account easier, which is also an advantage.

[alastantiger]

Fintechs do not care about gambling addiction or a user recklessly betting on a game from their app. For them, it about profit. It is purely business. So if you are addicted to gambling and seriously trying to quit, guess what, it will be difficult because with just a few taps, you are hooked and have placed your bets.

There's nothing gambling regulators can do about this because the banks and Fintech guys would consider this a threat to their profitablity and fight it with the last of their power.

If you are a person who can't stand it. You can delete the bank or financial app and register on the ones without this feature.

[Docnaster]

The above image is the UX for a mobile baking app in my country.

I checked at the internet and the ux of the site you sent  belongs to opay. Open is not a bank. It is a company that deals on many things in your country.
They are into food and delivery.
They are also into transportation.
They are also into some kind of banking and microfinance.
They are into lending.
They are into many other things.
So that is the reason they have it in their application. Just like a way that you subscribe for your television channels and network. That very icon can only help you to subscribe your betting account, and you cannot bet from there.

[Stable090]

there a betting feature where the user can place a bet on any match directly from the app.

I've been using the app and I didn’t notice things like this, I just went to the app and I noticed it also, but what I saw is just for you to top up your account, and you can’t place a bet directly from it, you will have to visit the gambling site before you will be able to place your bet. The future is really bad because it can encourage gambling addiction. I am from your country, and I notice that the app you just mentioned is not a bank.

Honestly, I hate it and I think that this feature should be removed so as to protect consumers from potential harm promote responsible financial practices and maintain the integrity of financial institutions.

I think if multiple people complain about it, maybe they are going to take down the future from the app, but the future is not really making sense to me, they are making gambling so easy that even underage people can make use of it because they are going to find it very easy for them to deposit money into their gambling website.

[Davidvictorson]

What's the name of the bank? There's also an advertisement below about gambling.

Want to become a client?

I don't think banks in the EU have that. There are rules restricting gambling that limit the access to such services.

If there are banks that offer people easy access to gambling through their banking apps I'd say it's taking things a bit too far, but then there's a problem of local laws. It's possible in some Asian countries this is completely acceptable and in accordance with the law, in which case we can't do anything but maybe stop using the bank and boycott its services.

This is my point exactly. It shouldn't be. Banks or Fintech apps and gambling shouldn't be together. It is dangerous to their large user base. Perhaps the regulatory bodies in my country have yet to see this as  a serious problem so no one is saying anything. There should be laws against this. Seriously.

[buwaytress]

You do know that even investment and trading options banks have on their apps are just different forms of gambling right? In fact, many financial activities involve you betting on an outcome. Even insurance is a bet against outcomes, if you think about it!

That said, agreed. I love a bet, but those have no place on a banking app. You're using what they call a superapp (app that does everything). Popularised in Southeast and East Asia, extremely slow in coming to Europe. I'm a fan of those apps, very convenient. Use them to death in Asia for everything. No betting though, but African superapps pushing the limits

[Oshosondy]

This is my point exactly. It shouldn't be. Banks or Fintech apps and gambling shouldn't be together. It is dangerous to their large user base. Perhaps the regulatory bodies in my country have yet to see this as  a serious problem so no one is saying anything. There should be laws against this. Seriously.

Like I said before, that is OPAY, which can be seen in countries in Asia, Africa and Latin America, especially in countries that do not have stringent regulations for gambling. That is why you are seeing it like that. If it is in North America or Europe where gambling are regulated, you can not see such an app having betting site clearly written on the home page for people to click on to fund their local betting account. I have used the app before and the payment into my local betting site was almost instantly. That was before I started to prefer crypto gambling sites.

[goaldigger]

Is that even a legit apps?
Because in my place banks have no place for any gambling site as they are restricting their client to use banks for gambling purposes. If you are going to do this make sure that your banks really allows it or else you might face problem later on as your account will be tagged for investigation, better to be more safe when dealing with the banks.

[Casdinyard]

Though obscure, a banking app in the Philippines also follow the same thing. They pretty much promote an otherwise licensed casino on their site through ads and vouchers you gain from purchasing or transacting with the app. And while it's not my cup of tea, I don't think it's that debilitating that they have to remove it entirely. For the most part, you already have a clear agenda in mind when you open your banking app, either through paying bills, withdrawal, whatever is the case for you, so it's not like these tabs, ads, or voucher's that effective at diverting your attention from your goals. it's a little something they leave out if you just wish to gamble or whatever, I don't think they should remove it or whatever since after all it would only cater to those who gamble anyway.

[tusandii]

Yes, I agree with your perspective on the one hand in the long term the betting feature in banking applications like that will be very bad increasing the number of gambling addicts and bad things will happen because serious addicts will commit crimes to get money and keep gambling and this is what I say about the consequences of betting.

Another problem, in my personal opinion, such a feature only exists in countries where gambling is allowed to operate and for countries where gambling is prohibited, this feature will never exist because gambling activities are considered to be against regulations.

I thought a little about how can a banking application have a betting feature whereas it is really very dangerous for banking consumers which indirectly will be a bad thing when someone tries to bet and the number of gamblers is increasing and the worst is the increase in gambling addicts and my question is how If one day the number of gambling addicts increases, will the bank or the state provide rehabilitation guarantees for these addicts?
I mean if this feature has been around for a long time I'm sure your country allows gambling to operate and get taxes from gambling and when you add this feature it indirectly encourages someone who is not a gambler to want to try betting and get addicted after that will the bank have the effort if something bad like that happens?
I'm worried that if a feature like that is not removed it will have a very bad impact.

[maydna]

Yes, I agree with you about removing the betting feature in banking applications because it could put someone at risk of using their savings for gambling. Perhaps that's okay if the person has good self-control. But we know that not many people can have such good self-control that it can make them place bets even secretly without their husband/wife knowing. Indeed, consumers are responsible for everything that happens in the application. But the bank must also be responsible for the application because such features can encourage someone to try it, especially for highly curious people. The bank must immediately remove the betting feature in the application. Perhaps you must go to your bank office to complain about this because your complaint will usually be responded to quickly offline. Just my guess.

[Wexnident]

I noticed something lately. Although it has been there for a long while but the time I have spent on this board is making me see things. I do not know if this is how it is in other parts of the world but I noticed that in my banking app, there a betting feature where the user can place a bet on any match directly from the app.

Honestly, I hate it and I think that this feature should be removed so as to protect consumers from potential harm promote responsible financial practices and maintain the integrity of financial institutions. Bodies in charge of betting regulations should start here by establishing guidelines or restrictions prohibiting betting features within banking and financial apps. My submission is that betting features on any banking or financial apps should be removed to discourage compulsive gambling and irresponsible gambling. Do you agree with this perspective?
~

I looked into mine (not the same as OP, just a general fintech app), and it doesn't have one. i think it might be specific to your app only OP? What app is it even? If it was an official app by a bank, then maybe it should be removed. If it was, however, just a general finance app made by a private company, then I don't think they have any "responsibility" to remove gambling-related stuff. They can add it as they wish if they receive a sort of promotion pay for it.

A reverse Google image shows the image is from Opay, and they aren't really a "bank" app, they're a fintech app, an overall kind of payment thingy (man I have to work on my describing skills) for general finance use. I'd say it's fine, it's the same logic anyway as having said apps at your reach when you want to buy something online. I know quite a few people who are addicted to that kind of thing. It's just a matter of controlling your finance imo.

[dothebeats]

I think I know where OP is from. General financial and banking apps do have these features and to me, it should be removed and the apps fined a hefty amount. It's as if they are affiliated with these apps and are subtly advertising them. I know most people are not gambling degenerates and would really be ignoring these features, but to those who are already challenged when it comes to stopping their gambling habit, this is very dangerous.

[Peanutswar]

This is my first time seeing a bank offering a gambling but of course before they release this kind of feature they will makes letter and approval to the government itself all of these process are regulated but if you are not a gambler I guess you don't need to get bothered because surely you will ignore this feature.

.
A reverse Google image shows the image is from Opay, and they aren't really a "bank" app, they're a fintech app, an overall kind of payment thingy (man I have to work on my describing skills) for general finance use. I'd say it's fine, it's the same logic anyway as having said apps at your reach when you want to buy something online. I know quite a few people who are addicted to that kind of thing. It's just a matter of controlling your finance imo.

Most of the finance I know are offering loans services but as a betting, I guess this possibly include their entertainment. Right at the end it's all about users if will adopt it or not.

[Darker45]

I completely agree.

I'm not sure about mobile banking apps but I'm a user of a financial app that also offered quick access to a gambling activity. And this was one big reason why my wallet on that app had oftentimes no balance in it. It made everything very accessible. It only needed a few taps on my mobile phone and my wallet has already transferred an amount to my gambling wallet. Gambling runs 24/7. The result is that every time there's an amount in my wallet, I am urged to gamble. And this experience is shared by all of my gambling friends who also use that app.

In a way, I'm a living proof that such feature is risky as it is unnecessary.

[alegotardo]

I noticed something lately. Although it has been there for a long while but the time I have spent on this board is making me see things. I do not know if this is how it is in other parts of the world but I noticed that in my banking app, there a betting feature where the user can place a bet on any match directly from the app.

Honestly, I hate it and I think that this feature should be removed so as to protect consumers from potential harm promote responsible financial practices and maintain the integrity of financial institutions. Bodies in charge of betting regulations should start here by establishing guidelines or restrictions prohibiting betting features within banking and financial apps. My submission is that betting features on any banking or financial apps should be removed to discourage compulsive gambling and irresponsible gambling. Do you agree with this perspective?

This depends a lot on the entity that supervises the banks in each country.
In Brazil, the regulatory body is called "BACEN" and I'm sure it would never allow a financial institution to allow this type of "functionality" within an application.

Financial institutions should appreciate and encourage the conscious use of money by people, offer savings and profitability services, financial education... never something that can lead the user to create an addiction that makes him lose all his money and possibly until you get into debt with it.

Unfortunately, the unbridled advertising of online betting is getting out of control and common sense, my fear is that someday this will be so poorly seen in society that governments will need to create strict rules that can "drown" this business model.

[danherbias07]

Directly? Damn! They should remove that.
I know there are banking institutions that allows deposit in different gambling sites but this is just too much if they are the bank itself is doing the gambling business.

Can you please name the bank? It's private, right?
Correct, this service should be removed by them. There are groups who are battling gambling addiction and here goes the bank itself with a direct gambling feature at where is our money at. Just looking at it feels so wrong. Then, there's the security that makes you worry. What if they will be attacked due to this service that they provide? I mean, those who specialized in online gambling only are being attacked, what more with them?
If I see that in my banking service, I am gone with all my money and move it in a different bank.

[Strongkored]

For those who don't like gambling, of course this feature will be annoying, but for those who like or who regularly gamble, they will consider it as a convenience that makes it easier to continue funding gambling accounts, but whether it can cause someone to become a compulsive gambler, of course, you can, but everything will really depend on each other.
I mean is there any way we can fight that if it turns out the law allows it? Of course the answer is no other than accepting it.
The presence of these features in a financial application that is available in your country is of course based on applicable law, meaning that gambling is legal, so there is nothing you can do other than accept the feature if you don't like it, the choice is to use another financial application with an equally good rating, but if you are a person who can always control yourself well, meaning gambling with good limits, then it will be fine.

[CODE200]

Honestly, I hate it and I think that this feature should be removed so as to protect consumers from potential harm promote responsible financial practices and maintain the integrity of financial institutions. Bodies in charge of betting regulations should start here by establishing guidelines or restrictions prohibiting betting features within banking and financial apps. My submission is that betting features on any banking or financial apps should be removed to discourage compulsive gambling and irresponsible gambling. Do you agree with this perspective?

This is my first time seeing a feature like that and I haven't encountered anything like this. Supposedly, banks are expected to be the one who should foster financial literacy and promote responsible and wise spending. But it seems like it turns out to be the other way, because again, BUSINESS IS BUSINESS. It is still about how they can generate profit from people, and that's part of business. But this does not apply to all, because there are still banks out there that do not have that kind of features.

[Wapfika]

I think I know where OP is from. General financial and banking apps do have these features and to me, it should be removed and the apps fined a hefty amount. It's as if they are affiliated with these apps and are subtly advertising them. I know most people are not gambling degenerates and would really be ignoring these features, but to those who are already challenged when it comes to stopping their gambling habit, this is very dangerous.

At the end of the day, They are still business and maybe they knew that most of there customers send money on a casino that’s why they implement this feature for convenience of their player. I’m not agree too on attachment of gambling feature on a banking app due to the tendency of addiction but we have no choice than to accept their service or don’t use the app.

The only way this feature will be removed if there’s a petition from their customer to remove it. This is same issue on my country financial app but it stays there since no one complains directly to the company offering the service.