Credit Card Gambling to be Banned from April

Less than a year after the UK slashed the maximum stake that can be placed on popular fixed-odds betting terminals it plans to ban gamblers from using credit cards to bet online or offline to rack up debt

Less than a year after the UK slashed the maximum stake that can be placed on popular fixed-odds betting terminals it plans to ban gamblers from using credit cards to bet online or offline to rack up debt

The gambling regulatory body of the United Kingdom has officially confirmed that credit cards would no longer be allowed to be used for gambling transactions as of April 2020.

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.

From April 14, people wanting to place bets online will have to do so by using either a debit card or through cash deposited into an account.

It's a small proportion of payments and, yes, those gambling on credit could well have a problem.

The ban, which starts on 14 April, comes after reviews of the industry by the commission and the United Kingdom government.

It is thought that around 800,000 people use credit cards to gamble, with the regulator's own data showing that more than 165,000 customers made £46m worth of credit card deposits in February previous year.

Gambling minister Helen Whately has said: "We have been clear to all businesses that have connections to gambling, such as operators, social media platforms and banks, that they must be socially responsible and use the power of technology and data to help consumers manage their spending and protect them from harm".

But the government has sought to tighten rules in recent years by capping the maximum stake on terminals, bringing in tighter age and identity checks for online gambling and expanding support for those who become addicted.

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The research reveals that most members of the public involved were in favour of a ban on credit card gambling, including people who have been negatively affected by credit card gambling and those who have not.

United Kingdom gaming operators were told to participate in the Gamstop multi-operator self-exclusion scheme by the end of March or risk losing their licence.

"We have also secured a series of commitments from five leading gambling operators that will include £100m funding towards treatment for problem gamblers".

However, they must be accompanied with other items.

Following the UKGC's regulatory announcement, Brigid Simmonds OBE, Chairman of the new Betting and Gaming Council, said: "The BGC is committed to raising standards, safer gambling and change, we therefore strongly welcome the requirement for all companies to join GamStop as part of our continued determination to raise standards in the industry".

Whilst he didn't have access to credit cards with his experience but believes "using a credit card could lead to more severe case with more severe consequences".

"It's another success on the list that will see football shirt sponsorship banned, limits for online slots, complete bans on TV advertising and all children being taught that if they say the word gambling three times, their Instagram likes will disappear".

Last year GVC Holdings, the parent company of Ladbrokes and Coral among others, said credit cards represented only six per cent of deposit value across their United Kingdom brands, adding: "Any potential restriction on their use is expected to have a minimal impact on revenue".

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