PayPal Is No Friend To NCAA Pools, Restricts Accounts Used To Bet On March Madness

The fact that gambling is illegal does little to stop NCAA basketball fans from betting online or engaging in office pools. But PayPal is doing what it can to block users from getting in on the action. The service is restricting accounts it believes have been used for gambling.

Bloomberg Businessweek relays the message PayPal sent to accused poolmongers:

After a recent review of your account activity, it has been determined that you are in violation of PayPal’s Acceptable Use Policy regarding your sales / offers of March Madness sports pool.

As Bloomberg notes, PayPal’s user agreement forbids members from using their accounts for sending or receiving money for contests with entry fees and prizes. It seems as though office pool maestros who hoped to use PayPal this year will have to resort to the old-fashioned money jar.

PayPal Restricts Accounts Used for March Madness Bets [Bloomberg Businessweek]

Previously: PayPal Changes Its Mind, Decides You Can Use It To Buy Erotic E-Books