Whether a bank will refund gambling losses depends on several factors¹²³⁴⁵:
- **Gambling Sites**: Gambling sites operate using clearly stated terms and conditions, which all players agree to upon registration. These terms usually state that once money is wagered, it's considered spent, and refunds are generally not issued unless in cases of fraudulent activity or technical errors on the part of the gambling site¹.
- **PayPal**: As a third-party payment processor, PayPal operates under its own terms and conditions. According to PayPal’s user agreement, certain types of transactions, including those related to gambling, are not eligible for PayPal’s Purchase Protection Program. However, if you can prove that your PayPal account was used without your knowledge or consent, you could potentially file a dispute with PayPal and get a refund¹.
- **Irresponsible Gambling**: If a player can prove that they’re a problem gambler and that the gambling site failed to provide adequate protective measures, they might have a case for a refund¹.
- **Fraudulent Activity**: If money has been taken from your account without your knowledge or consent, or if you’ve been tricked into placing bets, you might have a legitimate case for a refund. This might involve filing a dispute with your bank or the payment provider, or lodging a complaint with the gambling site or a relevant authority¹.
- **Deposits**: If you’ve deposited money into a gambling account and then changed your mind, you should be able to withdraw your deposit as long as you haven’t placed any bets¹.
However, it's important to remember that gambling involves risk, and part of that risk is the potential loss of money. When you choose to gamble, you’re accepting that risk, and regret or disappointment at losing money doesn’t warrant a refund³. Banks can refund gambling transactions under specific circumstances⁴, but in the UK, banks do not typically refund losses incurred through gambling⁵. The responsibility for managing gambling-related transactions lies primarily with the account holder⁵.
Source:
(1) Will The Bank Refund Gambling Losses? PayPal & Bank Refunds.
https://www.casinobeasts.com/blog/will-the-bank-refund-gambling-losses/.
(2) TSB is ignoring the fraudsters gambling with £4,150 of my money.
https://www.theguardian.com/money/2021/nov/22/tsb-is-ignoring-the-fraudsters-gambling-with-4150-of-my-money.
(3) Will Bank Refund Gambling Losses? Online Casino Chargebacks.
https://www.bestcasinohq.com/blog/will-bank-refund-gambling-losses/.
(4) Online Casino Chargebacks – Can You Dispute Casino Charges? - Red Casino.
https://www.redcasino.com/blog/dispute-casino-charges/.
(5) Bad Bet? How To Get Your Money Back - BettingGods.com.
https://bettinggods.com/faqs/bad-bet-how-to-get-your-money-back/.
