Gambling customers will no longer be able to use their credit cards to place bets online in a major shake-up of industry regulations.
Online Gamblers Will No Longer Be Able To Use Credit Cards For Betting
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Last updated on March 22nd, 2024 at 02:35 pm
Gamblers in the UK can no longer use a credit card to play online. Gambling Commission has announced that anyone who wants to bet online from 14 April will have to use either a debit card or cash deposited into an account.
The ban on credit cards will affect all gambling, with the exception of the National Lottery, following efforts by the government to tackle problem gambling and protect vulnerable customers.
“Credit card gambling can lead to significant financial harm,
Neil McArthur
“The ban that we have announced today should minimize the risks of harm to consumers from gambling with money they do not have.”
Mr McArthur added that research shows 22 per cent of online gamblers who use credit cards are problem gamblers who suffer harmful consequences from their betting.
However, he acknowledged that the ban would need to be backed by further action to prevent gambling companies from letting customers spend money they do not have.
The decision follows pressure from charity groups, such as Gamble Aware and Citizens Advice. They have called on the government to introduce bans on the use of credit cards over the past two years.
In 2018, the Responsible Gambling Strategy Board (RGSB) called on the Gambling Commission to consider restrictions on the use of “borrowed money” for online gambling.
An estimated 24 million adults gamble in the UK, with 10.5 million of those placing bets online.
It is thought that around 800,000 people use credit cards for betting. According to the regulator’s own data more than 165,000 customers made £46m-worth of credit card deposits in February 2019.
“Whilst millions gamble responsibly, I have also met people whose lives have been turned upside down by gambling addiction,” Ms Whately said in a statement on the credit card ban.
“There is clear evidence of harm from consumers betting with money they do not have, so it is absolutely right that we act decisively to protect them. “
Brigid Simmonds, chairwoman of the Betting and Gaming Council which represents the industry, said the council would implement the ban and its members will work to improve “early identification of those at risk” from problem gambling.
Marc Etches, chief executive of GambleAware, also welcomed this decision. He said it was “essential that every effort is made to protect” vulnerable customers.
The Gambling Commission is also reportedly considering a clampdown on VIP schemes which can reward gamblers who habitually lose money with perks, such as free bets, cashback on losing wagers or football tickets.
Credits to https://www.independent.co.uk/
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