UK Enforces Credit Card Gambling Ban on April 14

UK Enforces Credit Card Gambling Ban on April 14

The United Kingdom Gambling Commission (UKGC) recently enforced a ban on the use of credit cards for gambling. The ban came into effect on April 14 to protect customers from taking loans for gambling.

Consumer safety a priority

The move is aimed at “protecting the safety of consumers is at the heart of today’s credit card gambling ban.” It will be effective in both online and offline gambling offerings. Gamblers can only use their credit cards for buying tickets to non-remote lotteries. The government has also banned the use of credit cards for funding e-wallets that are then used to gamble on different sources. All licensed operators have to ensure that they do not allow the use of e-wallet payment options that permit the use of credit card funds for gambling.

UK Enforces Credit Card Gambling Ban on April 14

The ban was originally announced in January this year by the Department of Culture, Media and Sport and the UKGC. The commission said at the time that it is an essential measure to help protect consumers in the industry. According to research, about 800,000 people of the 10.5 million gamblers in Britain use credit cards for gambling. Out of these, 22% are categorized as problem gamblers.

How will the move affect the industry?

Neil McArthur, the chief executive of UKGC, noted that the use of credit cards could result in serious financial harms. People who gamble using the money they don’t already have will find themselves in debts with credit cards, which usually carry high interest rate. He believes that a ban on the use of credit cards is now more important than ever.

He also informed about a finding by researchers that the number of people using virtual sports and online slots has increased considerably since the UK announced a lockdown due to the COVID-19 outbreak. These are some of the most addictive types of gambling. McArthur said that the Commission will continue to make some changes that will help in making the gambling space safer for everyone.

Ireland, Spain and Australia have also followed the UK’s lead to make gambling safer for users. They have also taken steps to ban credit card gambling.

About sherlock

Sherlock Gomes loves to write and express his views on anything related to Gaming, Gambling, & Casino. He has been covering Gaming for more than two years now.