Betting Features on any Banking or Financial apps should be Removed

[Slow death]

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.

[bittraffic]

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 Paypal used to make it a violation of their policy but if they allow BTC to be withdrawn, that policy is irrelevant anymore.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.

[Pierre 2]

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.

[noorman0]

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.

[danherbias07]

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.

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.

[stadus]

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.

[passwordnow]

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.

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.

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

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.

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.

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.

[slapper]

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.

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.

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

[xSkylarx]

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.

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.

[maydna]

~snip~

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.

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.

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.

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.

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.

~snip~

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.

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.

[blockman]

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.

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.

I think its nothing to worry as kids won't involve at all.

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.

[piebeyb]

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.

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

[noormcs5]

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.

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.

[Blitzboy]

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.

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.

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.

[wiss19]

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.

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.

[Silberman]

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 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.

[Kakmakr]

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. 

[Mauser]

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 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.

[Jossque]

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.

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.

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.

[inthelongrun]

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.