UK bans credit card gambling
Starting from April 14, the UKGC has decided to ban the use of credit cards for gambling activities.
UK.- The UK Gambling Commission (UKGC) has announced a ban on credit cards for gambling purposes. Thus, from April 14, 2020, consumers won’t be able to use their credit cards to gamble.
This ban follows a public consultation that the commission carried out between August and November 2019. It also follows an internal review of online gambling and the Government’s Review of Gaming Machines and Social Responsibility Measures.
The ban applies to all online and offline gambling products, with the exception of non-remote lotteries. The UKGC says that it provides a significant layer of additional protection to vulnerable players.
Neil McArthur, Gambling Commission chief executive, said: “Credit card gambling can lead to significant financial harm. The ban that we have announced today should minimise the risks of harm to consumers from gambling with money they do not have.
“Research shows that 22% of online gamblers using credit cards are problem gamblers, with even more suffering some form of gambling harm. We also know that there are examples of consumers who have accumulated tens of thousands of pounds of debt through gambling because of credit card availability. There is also evidence that the fees charged by credit cards can exacerbate the situation because the consumer can try to chase losses to a greater extent.”
The UKGC recognises that this isn’t convenient for everyone
McArthur said that the UKGC knows that the change will inconvenience those consumers who use credit cards responsibly. However, he says that they know that to reduce the risk of harm to other consumers, they need to take action. “But we will evaluate the ban and watch closely for any unintended circumstances for consumers,” he added.
“The ban is part of our ongoing work to reduce gambling harm. We also need to continue the work we have been doing with gambling operators and the finance industry to ensure consumers only gamble with money they can afford to spend,” McArthur said.
The Culture Minister says there is more work to do
Helen Whately, Culture Minister, said that n the past year a wave of tougher measures have been introduced, in reference to the FOBTs change and identity checks for online gambling, but that there is more to do.
“We will be carrying out a review of the Gambling Act to ensure it is fit for the digital age and we will be launching a new nationwide addiction strategy in 2020. We will not hesitate to take any further action necessary to protect people from gambling harm.” she added.
