- Chris Moneymaker is bringing a lawsuit against PayPal for confiscating $12,000 from his account
- The player has described the payment provider’s practices as “bullying,” and he is now urging other gamblers to join in
- Moneymaker obtained the money through serving as a care-taker for a fantasy sports league during the 2021 NFL Season
Chris Moneymaker is now calling on fellow gamblers to join him in his lawsuit against PayPal, which confiscated $12,000 of the player’s fantasy proceedings.
Moneymaker Sues PayPal over His Fantasy League Funds
Famed for his skills at the green felt, Chris Moneymaker is taking on an ambitious opponent with the poker legend challenging payment processing company PayPal in court over the seizure of $12,000 from the player’s account. Moneymaker doesn’t intend to go it alone, and he’s looking for fellow players who may be interested in bringing a class-action lawsuit against the payment company and what he describes are its anti-gambling policies.
Moneymaker announced his intentions through a press release prepared by Eric Benzamochan, who represents Americas Cardroom’s famed ambassador. Moneymaker is bringing the legal action to a law of court after PayPal had frozen his account for over six months and failed to communicate, the player argues.
In fact, it all has to do with the company’s “anti-gambling” rules, Moneymaker says, and he acknowledges that PayPal’s action may have been prompted by his participation in a 2021 NFL Fantasy League, which is how he obtained the money.
“I’ll leave to my lawyers to determine what the law says, but I think this is straight-up theft, and PayPal is a payments bully,” commented Moneymaker in a public statement. Moneymaker is a well-salaried player with a very high profile in the poker community, so his desire to bring an action against a multi-billion company is not because he needs the $12,000 but rather because PayPal has acted unjustly in his opinion.
“This is less about the money – though $12,000 is a lot of money – it’s about the principle of stealing other people’s money and hiding behind thousands of words of legal mumbo jumbo that no one reads,” the pro added.
PayPal’s Fears of Gambling Are Not New
While it’s easy to take Moneymaker’s side right off the bat, it’s important to understand the backstory. After UIGEA was enacted in 2006, the US government came down hard on anyone who might be facilitating gambling payments.
Banks and e-wallets such as PayPal had to be very careful not to allow any gambling transaction to take place through their networks or face criminal charges. PayPal dodged a bullet there, but other payment processors such as Neteller and Firepay weren’t so lucky, underestimating the risk.
While PayPal has become milder towards gambling, and the service is now available in regulated markets such as Delaware, Nevada, New Jersey, and Pennsylvania, there was a period during which PayPal outright prohibited transactions for gambling activities by merchants and account holders in the United States. In fact, the terms of service still include this text.
What’s Moneymaker Challenging Here?
The text of the terms and services seem very clear. Moneymaker is effectively in breach of the T&Cs, at least at first glance. As the player says, it will be for lawyers and the judges to decide whether his claim stands in court.
However, it’s important to note that Moneymaker isn’t challenging the terms and services but whether PayPal had a right to confiscate the funds. According to Moneymaker and his lawyer, the payment giant is in the wrong.