Protecting consumer safety
The United Kingdom Gambling Commission (UKGC) is enforcing the ban on the use of credit cards for gambling from April 14 onwards. In a statement, the commission held that “protecting the safety of consumers is at the heart of today’s credit card gambling ban.”
The measure will apply to both offline and online gambling offerings. The sole exception is for buying tickets to non-remote lotteries. Customers will also not be able to fund e-wallets through a credit card in order to gamble. Licensed operators can now only offer e-wallet payment options that do not allow the use of credit card funds for gambling purposes.
Relevance to the current situation
The UKGC’s chief executive officer, Neil McArthur, reinforced that using credit cards for gambling can often cause serious financial harm. People gamble with money they do not have, quickly racking up significant debts with credit cards.
credit card ban is now more important than ever
He believes the credit card ban is now more important than ever due to the current nationwide coronavirus lockdown.
McArthur concluded his statement by vowing to continue making changes that will make the gambling space safer in Great Britain.
Announcement of the ban
The ban on the use of credit cards by gamblers was announced in January 2020 by the UKGC along with the Department for Culture, Media, and Sport. The country’s leading gambling regulatory body said it was an essential measure that gave further levels of protection to problem gamblers.
A number of other nations have followed the example of the UKGC and attempted to introduce a similar ban in their own jurisdictions. These include authorities in Ireland, Spain, and Australia.