Ban on Use of Credit Cards in Gambling Now in Effect

Gambling with credit cards has long been referred to by anti-gambling groups as an accident waiting to happen. A study carried out by the Gambling Commission (UKGC) revealed a staggering 10.5 million people gamble online and of those, 800,000 individuals do so via credit cards.

If you’re wondering what the problem is, credit cards effectively allow the user to spend more than they can afford and this in turn leads to mounting debt. Research also highlighted that of those who use credit cards to fund online gambling, some 22% are problem gamblers and a figure higher than this (undisclosed) showed many are suffering from some form of gambling related harm.

January 2020 saw an announcement being made by the UK Gambling Commission and the Department for Culture, Media and Sport (DCMS) which would change the way the online gambling industry operates – a ban on credit cards in gambling was scheduled to take effect on April 14^th. And, this ban also extends to credit card gambling through e-wallets such as PayPal.

Paying Attention:

A reminder was ‘sent’ to operators in the last day or two…

…stating that they could only accept customer payments via e-wallets, if those e-wallets prevent credit cards from being used in gambling. In the reminder, there was also information on what consumers can do if they suspect they have a gambling problem – or know of someone at risk.

The National Gambling Helpline provides confidential information, advice and support for anyone affected by gambling problems in England, Scotland and Wales. For more information visit gamcare.org.uk or call 0808 8020 133.

The ban is now in effect and is predicted to add another vital layer of protection for consumers. From playing online bingo to sports betting, spinning the reels of casino games to sitting at a virtual, you now only have the option of funding your account via e-wallets, bank transfers (if offered) and e-wallets.

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. This is another milestone and we will continue to look for ways to make gambling safer.”

Responsible gambling measures are in place at all online gambling establishments to ensure you only spend what you can afford. We urge you to make use of these tools.

Source: “UK Credit Card Gambling Ban Comes Into Effect”. iGaming Business. April 14, 2020.