March Madness: Venmo payments spike surely not (cough) illegal betting

Surely a spike in payments via money-transfer app Venmo was purely coincidental with the start of the NCAA basketball tournament this week and had nothing to do with illegal wagering.

All right, fine, more than a third of Venmo transactions right before the start of the first game used the terms NCAA or basketball or madness or a little basketball symbol, Quartz reported.

But Venmo was quick to say it follows all applicable laws: “If there is ever a situation where evidence of gambling activity is brought to our attention, Venmo works quickly to take appropriate action.”

See? Nothing to worry about here. The chances of illegal activity are about as low as lower-seeded Middle Tennessee State winning its first-round game. Oh, MTSU did win? Bad example. Mind your own bracket, please.




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