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The UK to ban credit card gambling

Credit and debit cards are routinely used by people from all over the world to make deposits at new online casinos and then use the money for quality online entertainment. This also applies to those who gamble in the United Kingdom, but things could take a turn for the worse, if the UK Gambling Commission follows through with its plan. For the time being, this is just a thing that the Commission considers, but in a not so distant future it could become a reality. Naturally, all those who are potentially affected by this thread are anxiously waiting to learn more about this topic and the proposed implementation day.

Why would the UKGC ban credit cards for gambling?

In order to properly understand the chances of such a measure to be implemented, it’s important to take a closer look at the reasons why it is considered in the first place. The UK Gambling Commission said that credit cards are likely to increase the risk of consumers gambling money they can’t afford to lose. This is justified by the fact that when people have immediate access to a significant amount of money, they are more likely to bet even slightly more than what they intended initially. For those who’re tempted to chase losses, as well as players trying to maximize the return on investment, these are serious risks.

Apparently, the goal is merely to keep consumers safe, by all means and sometimes even against their will. The fact that some players have a raked up significant amounts in debt was given as an example of how credit cards can backfire when used for gambling. Since the online gambling industry has recorded major profits, it looks that the commission simply tries to balance the scales and keep things fair.

What do players think about it?

As always, when major legislation is proposed or even considered, there are many people who wonder whether this is something that would actually benefit the public. On one hand, we have the campaigners for this policy, who have claimed that players should be protected through restrictions applying on their credit cards. Even in this case, there is no consensus, with some people claiming that restrictions on the amount that can be used for gambling would suffice, while others promote the outright ban.

Detractors of this policy consider that the risks of imposing restrictions on credit cards are significant and diverse. For instance, players might choose riskier payment methods, which would obviously defeat the purpose of this initiative. The UK GC has announced that measures will be discussed and analyzed before any decision will be made. There are already controls in place aimed at safeguarding players in general and the most vulnerable ones in particular. The Commission’s representatives argue that these provisions can be improved and adapted to the new challenges to better serve the gambling audience.

The industry regulator, the United Kingdom Gambling Commission, launched a call for evidence on the matter in February, adding that regulation could follow. It is seeking meaningful input to help determine if restrictions, potentially including an outright ban, are necessary to limit risks to consumers.
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