Credit Card Gambling Ban
Gambling on Credit Cards Banned
The UK Gambling Commission announced a ban for gamblers using credit cards earlier this year, and that ban has come into effect today (14th April 2020). From today, gamblers will not be able to use a credit card as payment directly or through e-wallets. Operators can only accept customer payments through e-wallets if those e-wallets prevent credit card use for gambling.
The ban applies to all online and offline gambling products except lotteries that are run for good causes. But, these lotteries will have to provide a significant layer of additional protection to vulnerable people.
UKGC statistics show that 800,000 individuals in the UK used credit cards to gamble, and research also highlights that 22% of online gamblers using credit cards are problem gamblers, with even more suffering some form of gambling harm.
Neil McArthur, Gambling Commission chief executive, said: “This credit card ban will further protect consumers from financial harm and from today, nobody in Great Britain can use a credit card to gamble. It is a ban which ultimately reduces the risks of harm to consumers from gambling with money they do not have.
The ban also comes at a vital time as we are seeing an increase in the use of some online products, such as online slots and virtual sports, and our online search analysis shows an increase in UK consumer interest in gambling products since the lockdown began. This highlights just how important it is for gambling operators to keep people safe and the credit card ban will help that.
Steven is the product manager on BettingLounge and enjoys enhancing sporting events through betting for long-term, sustainable profit.
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