The UK Gambling Commission has officially announced that it will be banning all methods of gambling which utilize credit cards. The ban will be taking effect immediately on the 14 April 2020. This includes all other business which primarily allows consumers to use credit card to gamble as well.
The ban comes from a series of reports and reviews which took place last year. Between August and November, several reports from the UK Gambling Commission were committed, including a review on online gambling and a review on gaming machines and measures on social responsibility.
In the report, it is stated that over 24 million adults in Great Britain gamble, with less than half of that number who gamble online (estimated 10.5 million to be precise). The research performed by the UK Finance department estimated that over 800,000 of those numbers use credit card when they gamble. From the separate reports which investigated the matter in parallel, it is stated that 22% of those who gamble with credit cards suffer from various degrees of gambling-related disorders.
The main hope that is to come from this ban is that it will help prevent the risk of problem gamblers by adding a layer of protection against such a risky and reckless usage of payment. The reports have even found examples of customers who put themselves in tens of thousands of pounds worth of debt because they gambled through their credit card without limitations.
The Gambling Commission Chief Executive, Neil McArthur, released his statement on the matter and further explained the justification for the ban.
“We realise that this change will inconvenience those consumers who use credit cards responsibly but we are satisfied that reducing the risk of harm to other consumers means that action must be taken.”
The work on self-exclusion by GAMSTOP will further help in creating better limits for players in order to reduce further risks in problem gambling.