Credit Cards Soon to be Unavailable as Banking Method for Gambling in the UK

With stricter compliances and regulations being established in the UK and elsewhere, accessing web-based venues and depositing money is becoming more and more challenging. At the same time, operators are looking to alleviate the process. Still, this absolutely makes sense, having in mind the hot button issues regarding gambling. The latest measure to take place is…

…banning the usage of credit cards for wagering purposes in Great Britain! As the UK Gambling Commission (UKGC) points out, this should prevent consumers from spending the funds they actually don’t have. For that reason, the minister provided the first hints of banning credit and debit cards as a banking option to prevent further escalation of issues.

Gambling with Non-Existing Money

Shadow Culture Secretary, Tom Watson, quoted the case of a woman who got in more than £100,000 debt for using nine credit cards to place bets online, in just two days. Pointing out that people shouldn’t spend money they don’t really have, he listed this tragic example as one of the main reasons why…

…credit cards should no longer be among the available payment methods for online gambling. However, he also added that operators are partially responsible as well for accepting wagers from an obviously problematic gambler. Watson remarks:

“The operators which took her bets should be held responsible for their disgraceful conduct. No one should go into debt to place a bet.”

Taking More Serious Precaution Measures

Though the number of problems increases simultaneously with more and more venues and markets established, still there are equally many efforts to prevent any potential issues. Sweden seems to be among the loudest and the most determined fighters. According to their survey…

…about two-thirds of addicts on their market are women. This somehow backs the example of the mentioned women who spend £100,000 on online betting. This newly-regulated market also puts a special accent on self-exclusion rules, as an important part of the strategy which promotes responsible behavior. With that being said, they penalized two licensees…

..which allowed self-excluded consumers to access their parlors and play games. In addition to this, Swedish regulatory bodies also pay close attention to content distributors advertising moderately without encouraging people to gamble.

Putting Mutual Efforts

Both UKGC and the British Government itself should forces and deal with the issue together, each with their own plans and powers. The Commission raised the question and it’s up to the Government to take necessary measures and back them accordingly.

Watson added:

“I have a good deal of sympathy with those who find themselves in the position of the individual he has described. It is important that not just gambling companies but all of us take an interest in the way this kind of problem gambling is developing.”

Source:

“UK to Halt Credit Card Gambling”, Niji Narayan, europeangaming.eu, April 17, 2019.