Paytm Gambling
Google on Friday posted a blog titled “Understanding our Play gambling policies in India” where it highlighted the issues related to such apps that endorse or promote gambling in India. Paytm has posted a tweet where it claims that the Android app is 'temporarily unavailable' on Google Play. For new downloads or updates. Google reiterated its Play Store gambling policies Paytm was briefly removed last week from Google Play Store for violating the platform's content rules. While the financial services app was. Payments majors PhonePe and Paytm are tapping online gaming to grow user engagement and increase total transactions made on their platforms. But their strategies differ significantly. Paytm, one of India’s largest mobile payment apps, was temporarily removed from the Google Play Store on Friday over allegations that it had breached rules against the facilitation of gambling in the run-up to the start of Indian Premier League T20 tournament.
Gamblers in India have begun to see the value of using Bitcoin in recent months. This has especially been the case over recent weeks, due to the Paytm scandal involving Google.
This has led to even more gamblers losing faith in traditional payment methods and looking for Bitcoin casinos in India that give them a different option. In order to fully understand the situation let’s take a closer look at what happened with Paytm and why the move towards Bitcoin is happening.
What was the Paytm scandal about?
In September, people looking for the Paytm app in India were shocked to discover that it had disappeared from Google Play. The app was returned to Google Play within a matter of hours but the scandal over its removal continues.
Google has since stated that the Paytm app was temporarily suspended because the company offered stickers to users who made payments or transferred money using the account. These stickers could then be used to get cashback. Google said that this violated the Play Stores’ policies on gambling. However, it has to be said that Google Pay is in direct competition with Paytm in the Indian payment market and some critics have hinted that this was a factor in what happened.
Why events like the Paytm scandal are leading to gamblers using Bitcoin
Even though the Paytm app is now available in the Play Store, the event has increased gamblers’ frustration with traditional payment methods. They are looking to Bitcoin as a viable alternative.
Recently, Bitcoin has become more widely accepted in many online casinos. This has happened as casino brands have seen retailers increase their use of cryptocurrencies and have seen the value of becoming involved.
From a gambler’s point of view, there are several advantages to be had from using Bitcoin.
Speed of transactions
Anyone who is depositing or withdrawing funds at an online casino wants the process to be fast. This is not a problem with Bitcoin transactions which can normally be completed in a day or two. Often the process is even faster than this.
Security of transactions
Speed is not the only concern when it comes to banking options at an online casino. Security also needs to be taken into account. Bitcoin transactions make use of blockchain technology which has become well-known for its high level of security. This means that people who want to gamble online can do so without fear of compromising their personal or financial data.
Anonymity
In the case of most payment methods, personal identifiers are used. This includes details such as account details, name, address, and email address. This is not the case with Bitcoin payments; a wallet id is used and nothing else.
It’s clear that gamblers can get several benefits from using Bitcoin at an online casino. They are also being tempted to opt for different payment options, such as Bitcoin, following events like the Paytm scandal. This means that the future of Bitcoin in online gambling in India, and globally, seems to be bright.
India’s online payment processor Paytm was out of the Google Play marketplace briefly for Google’s gambling policy. The app is back now, but the issue is far from over.
Google has a strict no-gambling policy for Google Play Apps. Google issued a blog post regarding the same on Friday. It said that if an app leads consumers to an external website that allows the users to play or participate in paid tournaments to offer real cash or prize, then it is a violation.
Paytm violated the rule. The app was promoting the app in which the users received stickers for each of the transactions.
Paytm Gambling Company
The users were told that collecting five stickers can be used to redeem Paytm cashback. This was called Paytm Cricket League and coincide with the Indian Premier League that started on Sunday.
The expulsion created panic among customers. Paytm is used by millions of people in India. Paytm which is also an online bank reassured the customer that the money is safe. The offending promotion was removed from the app, following which Google restored it.
This has started a new debate on unfair practices. It said that Google is using its muscle against a local rival of its Google Pay services. The CEO of Paytm said that Google has acted as judge, jury, and executioner in this case. He also said that how can the cashback offer be considered as gambling.
However, it is said that Paytm promoted links to Paytm First Games division which offers fantasy sports, rummy, and other online games. Some others pointed out that it was a warning for all those who wanted to put coveted betting apps to Google Play ahead of IPL 2020.
The strict no-gambling policy of Google is only in India. It has relaxed its norms in selective markets. In the UK, selected EU market and in the US, the policy has changed a lot towards online betting and gambling.
Paytm Gambling Issue
Source: https://calvinayre.com/2020/09/18/business/google-play-gambling-dustup-india-paytm/