There is a snitch amongst us!
A recent study by student loan marketplace, LendEDU, surveyed 1,217 millennials and found that 32.6 percent (nearly a third) claimed to have used Venmo for some type of drug.
Wait there’s more snitching. According to the survey, another 1,269 participants were asked: “Have you ever used Venmo for betting or gambling (ex, sports betting, fantasy football, poker, etc.)?”
Out of that 1,269, 21 percent of millennials surveyed actually use the money transfer app for gambling. I guess that’s good to know – we have more drug users and dealers than gamblers and loan sharks.
So, what’s really good with this information? Are you good to still flip that? Can you still place an illegal bet? Sort of.
According to Paypal CEO Dan Schulman in an interview with Fortune last October, Venmo is on track to process $20 billion in payments per year.
It’s nearly impossible for engineers at Venmo to monitor $50 million worth of transactions daily just for suspicious activity. Paypal would have to invest into some serious snitching.
On the other side of the fence, Venmo users who do hotboy shit on the app run the risk of leaving a paper trail.
Hotboy shit might include adding a snowflake, leaf, a gust of the wind, needle, or racehorse emoji to the description of your transactions.
If you’re putting a needle in your description you have joined the ranks of the most hotboy people on the planet.
Be wise OG and keep your ear to the streets. According to a Fortune article in relation to the snitch study, Venmo emailed:
“As clearly outlined in the Venmo User Agreement, people are prohibited from using Venmo for gambling or payments that involve drugs. If there is ever a situation where evidence of gambling or other illegal activity is brought to our attention, Venmo works quickly to take appropriate action.”
Can you imagine getting bagged because you were dropping $100 on snowflakes every week? There isn’t any snow in July dawg.