The United Kingdom Gambling Commission (UKGC) have remained committed to a total ban on the use of credit cards to gamble, either online or offline. In January 2020, the UKGC announced a blanket-ban on credit card gambling was essential and adds a ‘extra layer of protection’ for vulnerable gamblers. The ban commences today, 14th April 2020.
Reduce Gambling Related Harm
The GC believes removing credit cards as a source of funds will drastically reduce the amount of financial harm to vulnerable gamblers. Gamblers will no longer be able to gamble with money they can ill afford and without the availability of credit card usage, it will massively reduce huge debts which have been accrued in the past through gambling.
Online Gambling Has Risen
Gambling online is more popular today than ever before, according to research, 10.5million people now gamble online with 800.000 people using credit cards to fund their accounts. The UKGC research has shown 22% of the UK’s online gamblers could be considered gambling addicts. Although the new ban will reduce the risk to vulnerable players, the UKGC also recognise it will cause inconvenient to players who do use credit cards responsibly but their priority is to protect the most vulnerable of society.The ban will also include gambling with credit cards through e-wallets, operators are reminded they are to only accept e-wallet payments if they prevent the use of credit cards.UKGC Neil McArthur said, “ This credit card ban will further protect consumers from financial harm and from today, nobody in Great Britain can use credit cards 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 see 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.”