Monday, 13 January 2020

UK Gambling Commission Plans To Ban Online Credit Card Gambling

Credit Card Gambling Ban

The UK Gambling Commission has plans to ban online credit card gambling, according to a new report from The Guardian.

The UK’s gambling regulator will reportedly announce a ban on credit card bets on Tuesday (January 14th) as confirmed by multiple sources close to the tabloid. If true, the move comes several weeks after the Commission completed its 12-week consultation on the payment method.

Currently, most online gambling websites allow customers to place bets with credit cards, sparking concern from campaigners who believe that the payment method allows customers to rack up large debts they struggle to pay back.

With the ban, the Commission will reportedly prevent customers from using the payment method at online gambling websites, forcing customers to use debit cards instead to prevent them from using borrowed money.

The Guardian’s report also states that PayPal may be included as part of the ban. The Commission is also gearing up to announce that membership with GamStop will be a condition of its online gambling licenses, requiring all gambling sites who have or want a license to sign up with the charity.

GamStop allows customers to exclude themselves from gambling websites by giving their personal details which are shared with other casino operators via the charity to prevent the customer from opening new accounts elsewhere. The charity and its service have been an important part of tackling probably gambling in the UK.

It’s been reported that the Commission had held off announcing the GamStop membership requirement until now as it had worried that it could not guarantee that customers who were registered with it would not be sent marketing material encouraging them to bet.

Tightening Regulation In The UK

News of the alleged ban comes just weeks after the Commission revealed it is considering a ban on casino VIP schemes after The Guardian revealed that bookmakers and casinos in the UK rely heavily on VIP customers who play frequently and deposit large amounts.

According to a report from the Guardian which includes data from the Commission collected from nine casino operators, found that VIP customers made up a large percentage of each casino operators’ total deposits.

The news also comes months after HSBC announced that it now allows customers to block transactions made on gambling websites, joining other banks including Barclays, Monzo and Starling. According to the report, the block lasts a minimum of 24 hours and once ended, gives users a choice of continuing the block or reversing the restriction.

Meanwhile, NatWest last year announced that it had partnered with charity GamCare to offer support to gambling addicts at high-street branches across the United Kingdom. Branches will offer discreet support with the help of trained GamCare professionals and people who are not customers of the bank can also sign up for the service.