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Thread: Venmo now shutting down accounts receiving big $ / used for gambling

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    Owner Dan Druff's Avatar
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    Venmo now shutting down accounts receiving big $ / used for gambling

    Ari Engel lost his Venmo account due to receiving many thousands of dollars for pieces of his $111k One Drop package.

    Venmo shut him down for being "high risk", meaning that they didn't want to be responsible for handling so many large payments. But it's also possible the fact that his gambling transactions had something to do with it, as some people wrote "WSOP" or "One Drop" in the description.

    If using Venmo for making gambling payments (even legal ones), leave the description field BLANK (or instruct those paying you to do so).

    Also, do not receive lots of money on Venmo within a short time, as tempting as it may be. Try encouraging people to do bank transfers (it's getting easier to do this nowadays, and it's free), or to pay you by bitcoin or putting cash in your bank account.

    You can also take personal checks, provided that you either highly trust the person OR there's at least 30 days between the check deposit and the WSOP event.

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    Diamond chinamaniac's Avatar
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    Quote Originally Posted by Dan Druff View Post
    Ari Engel lost his Venmo account due to receiving many thousands of dollars for pieces of his $111k One Drop package.

    Venmo shut him down for being "high risk", meaning that they didn't want to be responsible for handling so many large payments. But it's also possible the fact that his gambling transactions had something to do with it, as some people wrote "WSOP" or "One Drop" in the description.

    If using Venmo for making gambling payments (even legal ones), leave the description field BLANK (or instruct those paying you to do so).

    Also, do not receive lots of money on Venmo within a short time, as tempting as it may be. Try encouraging people to do bank transfers (it's getting easier to do this nowadays, and it's free), or to pay you by bitcoin or putting cash in your bank account.

    You can also take personal checks, provided that you either highly trust the person OR there's at least 30 days between the check deposit and the WSOP event.
    Another moronic thing I see poker players do is post " I CAN TAKE VENMO OR PAYPAL " and sometimes posting their wallets

  3. #3
    You knew this shit was eventually going to happen (especially with Venmo being owned by Paypal). I even see dudes who run home stakes cash games use it for deposits and cashouts. And of course I bet they've seen big volume of transactions during the first 2 weeks of March thru the beginning of April for March Madness.

    But it's also possible the fact that his gambling transactions had something to do with it, as some people wrote "WSOP" or "One Drop" in the description.
    Fucking amateurs.
    http://www.miraclecovers.com

    "Donk down, thatís what you say to someone after they have lost 28K straight?" - Phil Hellmuth, online

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    Owner Dan Druff's Avatar
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    Another person reported that they were getting $2500 per week for about 4 weeks via Venmo, and also got shut down.

    They said that nothing was listed in the description as poker or gambling.

    So it looks like Venmo is just taking the position of, "If you transfer a lot of money through us, we don't want you."

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    Cubic Zirconia
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    Quote Originally Posted by Dan Druff View Post
    Another person reported that they were getting $2500 per week for about 4 weeks via Venmo, and also got shut down.

    They said that nothing was listed in the description as poker or gambling.

    So it looks like Venmo is just taking the position of, "If you transfer a lot of money through us, we don't want you."
    some of the underground game operators in Houston when i was there (most accept venmo or cash app if u go broke) was having to stop taking so much because they claimed their bank wont let them cash it out all at once and had too much in there, so they wanted to pay u the money back that way too if u won and had used it to buy chips). i seen about 3-4 operators during this, so its common.



    that being said, as far as hacking venmo goes, withdrawing the money dont protect u. someone would just overdraw your bank accounts everywhere and send to others on venmo and u would have to wait forever for your entire balance back. it would be real easy to wipe out someones bank account.

    and if u delete your venmo and cash app to avoid this, it sure becomes difficult to function sending others funds back and forth. u might never regain that right

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