UK to put a ban on all Gambling Products allowing credit cards
Plans by the UK Gambling commission (UKGC) have been unveiled to place a ban on the use of credit cards for gambling. The decision has been made to protect those who are becoming victims of gambling addictions. The use of credit cards had already been made stricter two years ago after the likes of GambleAware had been calling for care to be taken. The ban is due to start on the 14th April in a attempt to aid those who are vulnerable to problem gambling and make gambling safe.
Where was this used?
Some of the biggest online operators have been providing their players the ability to deposit and play with money from their credit cards. Brands as big as Paddy Power, Bet365 & Betfair to name a few all, allow the use of credit cards to deposit. With the enforcement of this new rule players will be limited to using only a debit card to deposit. There is a total of 24 million people in Britain actively gambling, 10 million of those do so online. We don’t have the exact figure as to how many play with credit cards. What research from the UKGC does show is that 22% of these are problem gamblers.
Why the ban?
Gambling for some is an addictive habit which see’s players gambling money that they often can’t afford to play with. Once this happens it is common for these players to then continue to gamble. In the hope they will win back the money they just lost, this is often called “Chasing”. Now imagine doing exactly this but with a credit card, money that isn’t even yours. It can lead to significant financial harm and debt. Banning the use of credit cards on gambling sites shows the UKGC is taking a step to minimise the risk and chance of debt amongst players.
Is the lottery including in this ban?
No, the national lottery will remain exempt from this ban. This has sprung up some concerns around the industry as lottery players can also be problem gamblers. The worry of missing your numbers one week is just as bad as not having that one last spin.
What else has the UKGC done to tackle problem gamblers?
New regulations state that all UK gambling operations must participate in the Gamstop self-exclusion scheme from 31st March. Gamers which sign up to Gamstop are prevented from playing at UK operators which are part of the scheme. These players can also choose the time in which they remain on Gamstop. Some players also use it as a cool off period.
Any operator that is seen accepting players who are on Gamstop will face prosecution from the regulatory bodies including hefty fines. After the 31st March members who are not part of the Gamstop scheme risk having their license revoked. We urge anyone who thinks they may have a gambling issue to look at the advice on both Gamcare and Gamstop.