posted on June 20, 2002 01:49:29 PM new
Ever since the question of Paypal accepting illegal online gambling and all credit cards not allowing online gambling came up so prominently here he has not made a response to this topic. Or any other here. Does he pretend he never saw the thread so Paypal can pretend it does not know? I once again ask Paypal why it does not search for Paypal and gambling in Google.
[ edited by Flaoisland on Jun 20, 2002 01:56 PM ]
posted on June 20, 2002 02:54:38 PM new
Actually I could care less if someone will spend money to guess a coin toss over a phone with a stranger doing the coin toss, but something has my curiosity.
You seem to be saying that you can circumvent your credit card's ban of usage on online casinos by going through PayPal. Have you ever tried this?
The reason I ask is this, one casino ad I looked at stated this: Please note that if your credit card purchases at online casinos are being rejected, you will not be able to fund your casino purchases with the credit card option on PayPal, you will therefore have to fund with your bank account. Grand Aces Payment options
Have you tried using your VISA or MasterCard at any of these online casinos and been denied to use the card directly and been able to use the card through PayPal? I'm curious if you even can. I'm not going to try it for the simple reason I don't want to download the casino software on my computer, but if you would I'd be interested in the results.
If this issue is that important to you I'd imagine you've sent emails to VISA and MasterCard, have they given you any sort of reply?
posted on June 20, 2002 03:59:35 PM new
You'll see that the casino which happens to be in nassau is not involved in the banking. That is done through another company that deals with many casinos. Don't you think it's easy for the money to be deposited with them and then be diverted elsewhere, no one says you have to gamble with it.
Registrant:Cyber Finance Investments (CF-INVESTMENTS-DOM)4th Floor 21 Cork StreetLondon, UK W1X 1HBUKDomain Name: CF-INVESTMENTS.COMAdministrative Contact:Capone, Angelo (ACA324) [email protected] Online (Int.) Ltd.Unit 21 Spectrum House 32-34 GordonHouse RoadLondon, England NW5 1LPUK+44 (0)171 4857223 (FAX) +44 (0)171 4857290Technical Contact:
Maybe BIG AL didn't die.
We accept payments and deposits made through Paypal, which is the webs largest alternative payment mechanism, as well as one of the fastest, safest and most convenient ways to deposit your money.
Once you are in the Casino Software, in order to make a purchase click on the "Cashier" button and then click on the PayPal option.
If you already have an existing PayPal account, simply fill in the purchase amount and click submit. If you are not a member, click on the "Go to PayPal" button and sign-up at Paypal
It's easy to win! Every time you pay with your checking account, you'll be automatically entered in the sweepstakes. If you're selected as a winner, $1,000 will be deposited directly into your PayPal account!
posted on June 21, 2002 04:17:39 AM new
So, PayPal will not allow you to use Visa or MasterCard, but will allow you to use your checking account, isn't that point that people are making?
posted on June 21, 2002 08:22:05 AM new
No in the other thread the user from California said Paypal was how people got around the credit card blocking by Visa Mastercard etc...
posted on June 21, 2002 11:31:35 AM new
From payponzi's 6-12-2002 SEC filing.
In addition, we classify merchants who historically have experienced significant chargeback rates, such as online gaming-related service providers and online gaming merchants as "higher risk". The legal status of many of these higher risk accounts is uncertain, and if these merchants are prohibited or restricted from operating in the future, our revenue from fees generated from these accounts would decline. If these merchants are operating illegally, we could be subject to civil and criminal lawsuits, administrative action, and prosecution for, among other things, money laundering or for aiding and abetting violations of law, including laws related to gambling. We would lose the revenues associated with these accounts and could be subject to material penalties and fines, both of which would seriously harm our business.
posted on June 21, 2002 12:27:03 PM new
SO PAYPAL ARE ADMITING THEY COULD BE OPEN TO LAWSUITS..... MAN THIS IS A F*&^ED UP COMPANY I WOULD CEASE DOING BUSINESS WITH CASINOS IF I WERE MAKING STATEMENTS LIKE THIS ON MY SEC FILING.
posted on June 21, 2002 12:44:22 PM new
Are they admitting to it.
"among other things, money laundering".
"aiding and abetting violations of law"
[ edited by club1man on Jun 21, 2002 12:46 PM ]
posted on June 21, 2002 12:49:49 PM new
i just realized soon as this topic of "gambling" has arisen all the defendants of paypal have disappeared?
[ edited by mrfoxy76 on Jun 21, 2002 01:13 PM ]
posted on June 22, 2002 10:07:38 AM new
I was doing some research today and found some White Power sites that only accept PayPal. These sites call for hate and violence so is this another case of supporting a questionable business.
posted on June 22, 2002 12:50:00 PM new
Let's play "can you top this"
We are a verified business member of PayPal Pay Services. PayPal allows you to send money to us safely over the internet.
http://www.kukluxklan.org/checkout.htm
more
http://www.startadultsite.com/freebonus.htm
PayPal is the authorized payment processor for [email protected] . This credit card transaction will appear on your bill as "PayPal".
posted on June 24, 2002 10:33:21 PM new
The reason he won't talk about it is simple.
New York State Attorney General recently stated that even under current law, the processing of known gambling transactions may lead to liability for facilitating or aiding and abetting the underlying activity. If the online gaming merchants that accept PayPal are operating illegally, we could be subject to civil and criminal lawsuits, administrative action and prosecution for, among other things, money laundering or for aiding and abetting violations of law. We would lose the revenues associated with these accounts and could be subject to material penalties and fines, both of which would seriously harm our business.
posted on June 25, 2002 06:56:35 AM new
Personally, I think payponzi will go out of business before that happens. My reason for saying this, is that I have checked other state law and found that they are in direct violation of all that I checked. The fines from these states could be enough to bring them down. Also stated in the SEC filing was their own admission that they might (and they are) be funneling drug money as well as other illegal funds. That is evident if you look at http://suepaypal.org . I'm not saying everything listed there is illegal, but with some digging more will be found. Payponzi states I believe that 60-70% app of their business comes from auctions. That could be exagerrated. Where does the other 40% come from ?
[ edited by club1man on Jun 25, 2002 07:03 AM ]
posted on June 25, 2002 07:14:11 AM new
I think what we are seeing is that there is a pattern on who this company will let use them. I think that anyone can use this as a payment service and they do not look at anything until customers complain or they change the TOS to get more accounts restricted.
posted on June 29, 2002 03:59:37 PM new
wait til the next stories come out about the drugs and the weapons. thier stock will probably go to -$30 a share
posted on July 9, 2002 04:24:30 AM new
While Paypal's Damon has always avoided questions about Paypal's involvement with illegal online gambling, eBay a reputable company has put its foot down. See my other post.
posted on July 11, 2002 12:58:43 PM new
Just got this today. Ya sure there stopping it.
Subj: Hi stoney , Do you Paypal@RomanCasino?
Date: 7/11/02 1:03:32 PM Central Daylight Time
From: [email protected]
To: l.com
Sent from the Internet (Details)
You could WIN up to
$25,000 in CASH!!!
Next time you purchase chips at ROMAN CASINO through PayPal, you will be entered in our weekly Paypal Prize Giveaway of $5,000!!
J. Flanigan from the U.S.A. took this weeks prize. We asked Joel what he plans to do with the money:
"I'll be paying off my car!"
Will you be our next winner? The odds are on your side,
just remember to make your next purchase at
ROMAN CASINO through PayPal!
Not yet a Roman Casino member?
Join the fun and you could win cool prizes, earn up to $250 cash back and up to $1000 in bonus tokens!
posted on July 12, 2002 09:14:07 AM new
Want to send this story to another AOL member? Click on the heart at the top of this window.
PayPal gets subpoena from NY Attorney General -WSJ
NEW YORK, July 12 (Reuters) - Internet payment provider PayPal Inc.<PYPL.O>. said it received a subpoena from the New York state attorney general's office related to its activities in the Internet gambling market, the Wall Street Journal reported on Friday.
The company said the attorney general's office had asked for information about online gambling payments that occur through the company's network, and it would co-operate.
PayPal on Monday accepted a $1.5 billion buyout offer from eBay <EBAY.O>, which supplies more than 60 percent of PayPal's clients.
At the time of the announcement eBay Inc. said it would cease the business PayPal does with Internet gambling firms when the online auctioneer completes its proposed acquisition.
EBay said it decided to close the gambling business, which accounts for 8% of payments on the PayPal network, because of uncertainty surrounding regulation of that market.
posted on July 19, 2002 09:49:08 PM new
Had to share:
I was just checking out this current issue Aug 2002 of MaxiXXXXXXX (no free advertising for this non-porn mag for "men"
And after checking out some very nice pictures of Beyonnce for the new Austin Powers movie....I put the mag down and saw an ad for online gambling ? It was like one page from the back.
It was a full two pages ad and it was from www.betonspXXXXXXXXXXXXXXXX (no free advertising for you) and at the bottom of it had a small Paypal logo next to all the credit card logos. Also something about "void where prohibited by law".
The ad also said [Licensed in the United Kingdom, Ireland, Antigua and Costa Rica.]
I did not see the united states ? Is that illegal gambling or they just are "waiting" for a license for the US ?
I don't follow online gambling ( I prefer Reno or Vegas) and do not follow the "laws" on it, but is this what you are talking about online gambling and Paypal?
I though they were not going to be used for online gambling ?
posted on July 22, 2002 10:08:10 AM new
I wonder how much it will cost payponzi this week when they meet with the New York AG. I just got off the phone with the deputy AG who will be talking with them. This is what citi bank agreed to.
25 . The Bank agrees to pay, within fifteen (15) business days after the Execution
Date, one hundred thousand dollars ($100,000) to the New York State Department of Law, as
and for costs of this investigation .
26. The Bank agrees to pay, no later than December 31, 2002, an aggregate amount of
four hundred thousand dollars ($400,000) into an escrow account held and administered by the
Attorney General to be distributed to one or more not-for-profit organizations, each ofwhich
shall have been proposed by the Bank and approved by the Attorney General, that provide
counseling to and/or improve the well-being of New York and other individuals and/or families
who have been harmed by compulsive or problem gambling and/or that serve related or similar
purposes and that do not have as- a board member, an officer, director or employee of the Bank.
The Bank will not base any claim for a tax deduction on any payment made pursuant to this
Paragraph 26. The Bank may, at its option, make four separate equal payments to the Attorney
General's escrow account for this purpose at any time prior to December 31, 2002.
posted on August 8, 2002 04:57:16 PM new
I was wondering.....
If a person uses a fraudulent credit card through PayPal to run up a large gambling debt, does PayPal go after the Casino to get the money back????
I can almost bet they don't. Casinos have lawyers, lawyers who will stomp any arbitraition agreement into the ground......and make PayPal SQUEAL!!!
.
Reality is a serious condition brought on by a lack of alcohol in the system
posted on August 8, 2002 05:23:32 PM new
In a case that went to court this past year a woman used her Master Card to run up 70k in gambling debts. The court ruled the woman was not responsible for paying it. Personally I think it was wrong to make Master Card eat the debt. But it prompted Master Card to stop allowing it use for on-line gaming. That's when PAYPONZI stepped in and circumvented their rules. It would seem to me that because PAYPONZI is violating the rules they deserve to lost the funds.
