PayPal has introduced Gamban as part of its online payment settlement service. As a result, online casino players and sports bettors will have the option to self-exclude gambling services. The Gamban software is used to enable vulnerable and at-risk players to take control over their spending habits and ensure that they keep themselves in check when it comes to their hobbies.
Consumers are now able to block payments towards games of chances and games of skill, casino games that run the full spectrum of table and card titles, such as sic bo, pai gow poker, pachinko, keno, blackjack, craps, and more.
Sports betting and race betting are also part of the Gamban solution which will allow players to suspend anything from off-track betting to pari-mutuel betting, sweepstakes, or simple betting. Peer-to-peer offers through dedicated exchanges are also part of the available exclusion and so are lottery ticket sales.
PayPal also can introduce further control on spending habits to help consumers avoid loopholes such as using third parties to facilitate betting or sending money to services that process the funds to send to offshore gambling companies.
Addressing the Quickly Expanding Gambling Industry
As the United States and United Kingdom’s gambling industries continue to expand rapidly, PayPal’s decision to step up and introduce new exclusion and gambling recovery tool is refreshing. The solution comes on top of existing options such as GAMSTOP and GamCare, which allow consumers to exclude themselves further.
Gamban emphasized the importance of payment processors being more involved with gambling-related transactions. One case cited by the company involves a young man in the United Kingdom who had been able to wager $202,000 (£150,000) overnight. He used PayPal to deposit, Gamban said detailing the case.
The company reminds us that there are no available statistics that indicate how much money people spend on gambling using PayPal. In the meantime, Revolut, another payment method, introduced changes last week that guarantees that players in Ireland would not be able to use credit cards to fund their accounts and then subsequently deposit into gambling sites.