Customers who have used the payment processor are coming forward with stories of PayPal freezing gambling accounts, and even confiscating their cash. Should players be worried that they are next? And speaking of gambling and money, Las Vegas has taken a huge step toward cashless gambling.
Some PayPal customers are coming forward with horror stories of their funds being frozen or even confiscated without explanation. One customer had almost $27,000 frozen in her account which she had used to exchange money for a poker league. And poker player Chris Moneymaker had $12,000 frozen in his account that was eventually seized by the payment provider!
Payment processors have never really been fans of gambling transactions. And in complete disclosure, PayPal has also frozen some accounts that have nothing to do with gambling. Customers say the company has offered a wide variety of excuses excuses for doing so, but none of them are making much sense.
Now, some customers are going on the offensive over the PayPal freezing gambling accounts issue, filing a Federal lawsuit against them over their actions. That suit seeks restitution and damages, among other things. Plus, there’s been some discussion of a class action lawsuit as more people come forward with these stories.
PayPal has returned some of the monies that they confiscated, but it may be too little, too late. While we wait to see how PayPal reacts to the lawsuit, Las Vegas was making some major news of their own about cashless gaming.
ATM’s and cash cages may soon be a memory, as the Nevada Gaming Commission just approved cashless payments for the casino floors or gaming establishments in the state. Calling the transactions safer and more secure, cashless gaming may be in place in some Las Vegas casinos as early as March!
