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People who love an online flutter will not be allowed to utilise a credit card to put down money on a bet following a significant regulation that was recently declared by the UK’s betting regulator, the Gambling Commission.
The ban, which will be in force from the middle of April 2020, will still allow debit cards or online cash accounts (PayPal, for example) to be used.
However, it was also announced that people over the age of 18 will still be allowed to play the National Lottery with a credit card.
Credit Card Use
Estimates previously published by UK Finance revealed that around 800,000 people in the UK have, at some point, used a credit card to gamble online.
The announcement by the Gambling Commission, as well as subsequent comments by senior political figures, made clear that gambling itself was in no way under threat. Rather, the focus was – and remains – stopping people from gambling with money that they do not have.
Neil McArthur, the CEO of the Gambling Commission, said:
“Credit card gambling can lead to significant financial harm. The ban that we have announced today should minimise the risks of harm to consumers from gambling with money they do not have.”
Practical Step
Speaking in the wake of the historic decision, Helen Whately, Parliamentary Under-Secretary of State for Arts, Heritage and Tourism, said:
“This is a very specific, practical step that we’ve got on with. We’ve done the research, we’ve seen the evidence, and the evidence tells us this is something we should act on.
“There are a whole load of bigger questions about advertising, sponsorship, and online gambling. The world of gambling has changed since the Gambling Act so we are going to be launching a review of the Gambling Act that was committed to in our manifesto.
“In the past year we have introduced a wave of tougher measures, including cutting the maximum stake on fixed odds betting terminals, bringing in tighter age and identity checks for online gambling and expanding national specialist support through the NHS Long Term Plan.”
All other non-credit based methods of payment will remain open.