UK bans credit cards for online gambling

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Posted on: April 15, 2020 10:20 pm EDT

Bettors in the UK will no longer be able to use credit cards for poker or other forms of online gaming

The online gambling industry in the United Kingdom has just taken a step back due to a recent decision to place a ban on credit cards to be used for gambling purposes. This new legislation took effect yesterday, while the UK Gambling Commission (UKGC) issued statements to current license holders to remind them about the government’s new ban. This restriction extends to using credit cards to fund any kind of wallet that does not prevent using funds for online gambling.

According to UKGC CEO Neil McArthur, this ban “ultimately reduces the risks of harm to consumers from gambling with money they do not have.” McArthur also added that this ban was placed in response to “an increase in the use of some online products, such as online slots and virtual sports.” He also stated that there has been “an increase in UK consumer interest in gambling products” due to the current pandemic measures issued to people to stay home.

This ban was no surprise, as it was announced in January by the Gambling Commission and the government’s Department for Culture, Media and Sport. This measure applies to both online and offline betting. The UKGB mentioned research that shows that nearly 10.5 million people in the UK are gambling online; 800,000 out of those users use credit cards to fund their gambling accounts. So, it is estimated by the commission that at least 175,000 gamblers are in financial distress due to a gambling problem, restricting the use of credit cards will stop at least those cases from betting funds that later will own to other entities.