By Pius-Aghadiuno Published 03/15/2012 19:15:00 | Views: 478
EBay’s PayPal Restricts Accounts Used in March Madness Betting

If your NCAA pool has a bigger prize than bragging rights or a round of beers, make sure you don't use PayPal for those basketball-based transactions. Bloomberg Business Week says that the eBay-owned online payment company will restrict the accounts of any users they think are sending or receiving March Madness-related money. PayPal's user agreement (the one you totally read through line-by-line before clicking "Agree," right?) prohibits anyone from using the service for "activities that involve gaming and/or any other activity with an entry fee or a prize."

PayPal wouldn't say how they plan to ID any "alleged gamblers" but we're guessing it involves reading things like "TOLD YOU NOT TO PICK NORFOLK STATE" in the payment description.

By Pius-Aghadiuno 03/15/2012 19:15:00

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