Should banks be promoting gambling on their bank app and website?

[KiaKia]

How would you feel if your favourite bank is now offering users the easy access to gambling platforms straight from their bank app?

I actually don't like it because it feels somehow, that bank is supporting gambling, is this even a good way to advertise gambling because I am sure that they are getting paid doing so....



There are millions of people using this same bank as I am and I feel this is a bad way to go about it, people who don't want to get involved with gambling will feel tempted to do so now.

[Oshosondy]

This is where the world is advancing to but luckily for me I prefer noncustodial wallet. I only have the money that I want to spend in fiat while my main money is in coins.

But that does not mean it is a good thing. Why do you people not report such a bank?

It is also common in my country but it is done by fintechs which people can argue that they are online banks.

[danherbias07]

I don't like it either.

Here in our country, the government has already taken out the gambling platform links from one of the biggest digital cash applications. Why? Because of the easy access, I believe even an underage person can access it.
It's not a good combination because it's like urging people to gamble their money that is in their banks. Then, next to it will be a pile of loans that will bury a person financially.

[btc_angela]

How would you feel if your favourite bank is now offering users the easy access to gambling platforms straight from their bank app?

I actually don't like it because it feels somehow, that bank is supporting gambling, is this even a good way to advertise gambling because I am sure that they are getting paid doing so....

There are millions of people using this same bank as I am and I feel this is a bad way to go about it, people who don't want to get involved with gambling will feel tempted to do so now.

Here in our country, no banks are allowing that kind of promotion directly in gambling. But there are gambling apps that you can play by depositing thru this banks. So somewhat there is still this connection to 3rd party banks although it's not really them promoting it.

So as much as we don't want that to happen, I don't think it's inevitable. We are in the age of internet, everything is on our mobile phone, including banking and gambling apps and so with that, just a simply touch, everyone can gamble and make deposits thru our banks.

[mindrust]

I don’t see a problem unless there is a strict rule or regulation against it. Bank apps have deposit options to the gambling platforms (only to the official ones which the government owns) in my country so it looks like it is not anything uncommon.

Gambling is a huge business that makes lots of money. Even the governments support it. If it is that bad, why don’t they ban all the casinos? I don’t think it makes sense to hold banks responsible for doing something which is not illegal, especially when you are carrying a casino signature yourself in your own forum signature space. Is it ethical? It depends on the lens you are using to look at this.

[DubemIfedigbo001]

In my country, banks allow it directly from their app and its not a new thing, fintechs too do it readily and here fintechs is what most people use easily since our bank networks disappoints is steadily. So its obtainable and since our government isn't against gambling, is permitted and it creates an accessible channel to easy finding through such apps to local platforms.

There are millions of people using this same bank as I am and I feel this is a bad way to go about it, people who don't want to get involved with gambling will feel tempted to do so now.

I don't agree with you. Before someone gets involved with gambling online he first visites the site, create an account, most times does KYC and copy their user ID down to the apps for funding. You don't just get involved in gambling by clicking the button from the app and if the person goes through the process outlined above, then its their decision and not an influence from the icon on the app.

[Gozie51]

There is nothing we can do about that anymore because that is the world we are living at the moment. In the world today, you are left to guide yourself on which part to follow, choices are presented to you on a daily. We are living in the free world just like bitcoin and cryptocurrency also creates that financial freedom that government don't like because it is antithetical to their own operation and "monitoring" (through fiat).

So this is why you have to also guide your children until certain age. If you go online, you see different things including nudity.

Banking is not the only culprit, I saw gift cards on that same app on display. And you know advisement is now a big business on the internet space, so many businesses affiliate themselves into each other, running adverts online for one another. But I won't be surprised with fintech, traditional banks are more reserved in this advertisement forage.

[ryzaadit]

Their risk.

But one things, If you loaning someone to a someone who having bad credibility one of them is like gambling. Don't expect him to honour the loans agrements, meaning the loans are mostly or could be defaulted by the user.

So, IMO up to them but don't expect they have higher rate to pay you back.

[Hewlet]

How would you feel if your favourite bank is now offering users the easy access to gambling platforms straight from their bank app?

Is that a new thing now? It's now a common thing to see  most banking apps running ads that's gambling related and some of them even giving our gambling voucher every weekend to her customers. Ethically speaking, it's not the best thing to do from the angle of the banks but then, most of them are not too concerned about the welfare of Thier customers but rather are concerned about the profit they stand to gain from those ads and promotions.

As a customer, you just have to learn how to differentiate between what's necessary and what's not and ensure that those ads doesn't push you to engaging in an act of irresponsible gambling. There's already an issue with the fact that you can directly gamble from where you're storing your money and that's one bad thing about banks being directly link to any kind of gambling platforms.

[freedomgo]

It actually makes things easier for us gamblers, and I don’t see a problem with that as long as the government allows it. The fact that it’s connected to banking means their target audience is people who have bank accounts and can actually afford to gamble.

That’s way better than promoting it on social media where minors can easily see it.

[Dr.Bitcoin_Strange]

In a country where gambling is legalized, what do you expect? Definitely this kind of promotion you will see on trusted platforms where it is known that millions or thousands of people are using the platform. This bank is a well known bank and have a lot of customers, if you check other banks too or Fintech companies you will realize that they all are promoting betting platforms. In my opinion, it's bad but people should learn to control their self towards betting.

[Zigabel]

How would you feel if your favourite bank is now offering users the easy access to gambling platforms straight from their bank app?

I actually don't like it because it feels somehow, that bank is supporting gambling, is this even a good way to advertise gambling because I am sure that they are getting paid doing so....



There are millions of people using this same bank as I am and I feel this is a bad way to go about it, people who don't want to get involved with gambling will feel tempted to do so now.

The gambling option you saw there is just a payment gateway and almost has no direct form of advertisement, that is why you get to see that a variety of gambling platforms comes up when you toggle on that button, so you can pick the platform for which you want to fund, for the bank, they are not advertising or promoting gambling but only try to make it easier for their users who are interested and also generate some sort of traffic to their platform while they make some money from that gateway.

Ideally it will not make sense if a bank is out there advertising a casino or betting generally but think about it, if the banks aren't collaborating with these platforms, how then would you be able to fund and withdraw? obviously you need a bank account to get all of that done and even the casinos too does needs an account wherein they have their funds so it is a symbiotic existence and you cannot completely rule out the bank from the casino in a bid not to look like they are advertising the casinos.

[swogerino]

The bank usually like to control everything and honestly I should not be talking like that as I work in a bank myself but yeah I see what a bank does, in any venture they don't have control they always withdraw from the deal so based on that I would never prefer such a bank app or anything like that, the bank app is created only for one purpose, to have your bank with you anywhere and make transactions that you like anywhere through e-banking. I always prefer wallets or apps that I have complete control like for example in my phone I always love Metamask or Electrum which I have full power over them and no one knows where the crypto goes after I have bought it through my bank app. Still though there are fin-tech small financial institutes that lean toward credit and they don't care what they promote as long as they are giving credit with a huge interest rate, usually these guys have  18-21% interest charged.

[Obim34]

Banks are service providers, if they render service of funding fiat casinos or betting platform i don't think they are wrong doing so, when i heard banks promoting gambling as title, i thought you meant banks doing marketing for gambling like promoting a particular casino through ads in their apps or channels, I see nothing wrong, and i use them to fund my betting platform whenever i choose to gamble using fiat.

Banks are not paid, it is not marketing just an option for funding.

[Shinpako09]

It doesn’t have much difference from e-wallets that have a direct link to casinos within their apps. But most of your e-wallets usually have lesser funds compared to your bank. For me, that’s quite dangerous. Just imagine, the majority, if not all, of your savings are in the bank, and you’re just one click away. That’s very dangerous, for real. You could get ruined anytime if you’re not careful. But if you’re not a gambler or just gamble occasionally with a few bucks, then you don’t have to worry.

[aioc]

There are millions of people using this same bank as I am and I feel this is a bad way to go about it, people who don't want to get involved with gambling will feel tempted to do so now.

It's legal if the regulators allow it, and these links from betting sites are likely partners or affiliates with the banks, or they will not allow it to be posted on their platform.

For me, it's not good and ethically questionable. Bank clients are so varied, and many will find it insensitive to promote gambling platforms in their accounts.

They should have asked their clients if it's in their preferences to show betting platforms on their accounts. OP did not mention the bank, but here in our country, there is none like that.

[davis196]

It depends on the regulations in the country where you live. Some countries wouldn't allow such promotion.
Sports betting is pretty much widely accepted, despite being considered as one of the most popular forms of gambling. I have never seen a bank promoting sports betting platforms in my country. It feels sketchy and I do believe that many people might find it weird. Is your bank allowing third party advertisements on that banking app? I've never seen a bank having ads on it's banking app. This bank is probably desperate for more revenue. Maybe the bank and the sports betting platform have the same owner.

[Lanatsa]

There are millions of people using this same bank as I am and I feel this is a bad way to go about it, people who don't want to get involved with gambling will feel tempted to do so now.

It's legal if the regulators allow it, and these links from betting sites are likely partners or affiliates with the banks, or they will not allow it to be posted on their platform.

For me, it's not good and ethically questionable. Bank clients are so varied, and many will find it insensitive to promote gambling platforms in their accounts.

They should have asked their clients if it's in their preferences to show betting platforms on their accounts. OP did not mention the bank, but here in our country, there is none like that.

It feels wrong when a bank starts showing links or ads for gambling sites cause a bank should be about saving and stability not about pushing people toward risky stuff even if it’s legal it doesn’t mean it’s right they probably do it cause of partnerships or affiliate money but that makes it worse cause it shows profit is more important to them than customer trust. A lot of people use that same bank and not everyone wants to see betting links some are trying to avoid gambling maybe they lost money before or just don’t believe in it so it’s really insensitive to throw it in their face inside their account space a bank should ask people first if they even want to see that kind of promotion or just keep those things completely separate.

Where i am we don’t have banks doing that and i think that’s better it keeps a clean line between finance and gambling once those lines blur it becomes hard to tell if the bank is still protecting customers or just chasing commissions it’s legal sure but still not ethical banks should help people manage money not tempt them to lose it.

[Ronsbit]

For bank to have such on their app then it means they too have something benefiting from it. Possibly it could be their affiliate or referral link they have put up there for their users to register through. As we all know, it is business and gambling business is very lucrative so the banks taking their own cut from affiliate marketing isn't a bad idea though but I was thinking that banks as an institution  would be a neutral body in warning or advising on the the gamble responsibly movement rather than taking sides with gambling company to promote their presence on their app.

Even if it is just there for easy funding, they still have benefits because they would also deduct for their charges so I believe making it available on their pp Wii also reduce the stress of their customers to go through a long process of funding their online casino account. So what they had done is not a bad idea though as the feel their customers should have the comfort within the app usage.

[qwertyup23]

This is potentially a dangerous outcome for both the bank and the user if the former promotes a gambling casino on their end.

Imagine this situation: a bank promotes a gambling casino where they offer tons of withdrawal/deposit bonuses and loan applications. On the other hand, the user will avail of that loan application which can snowball into a bigger problem especially if the situation gets out of hand.

Ask yourself, what would be the remedy of the bank in the event their user fails to pay their loan obligations to the former? If the user cannot satisfy the obligations using their cash, then the bank will go after their properties. But what if the user has no properties left? Also, how much will the bank spend on legal fees in executing each and every obligation?

I see no world where a bank will promote a gambling website because it will spell a potential disaster on both parties.