Can I use Pay it Square to collect money for a March Madness Pool or Fantasy Leagues?
Short Answer: No, unfortunely.
Long Answer:
Pay It Square is a great tool for collecting money from friends, a task that typically takes place when NCAA basketball teams lace up their sneakers mid-march. However, Pay it Square cannot be used for collecting money for a March Madness pool. Technically, Pools are conisdered gambling, and our Payment Providers do not allow gambling money to be collected via their payment tools. To see what each Payment Processor has to say about it, we've gathered their legalese below.
"We are unable to process payments for gambling or betting, including lottery tickets, casino gaming chips, off-track betting, memberships on gambling-related internet sites and wagers at races."
" ...involve gambling, gaming and/or any other activity with an entry fee and a prize, including, but not limited to casino games, sports betting, horse or greyhound racing, lottery tickets, other ventures that facilitate gambling, games of skill (whether or not it is legally defined as a lottery) and sweepstakes unless the operator has obtained prior approval from PayPal and the operator and customers are located exclusively in jurisdictions where such activities are permitted by law."
"...(30) sports forecasting or odds making..."