Tuesday, January 14, 2020

UK to ban use of credit cards for gambling

The UK government is banning the use of credit cards to place bets in an attempt to control problem gambling and curb “gambling harm.”

The Gambling Commission has announced the ban, which comes into effect on 14 April, after separate reviews of the industry by the commission and the government.

In the UK, 24 million adults gamble, including 10.5 million who gamble on betting sites online, according to figures from the Gambling Commission.

UK Finance, a banking and financial services industry body, estimate that 800,000 consumers use credit cards to gamble.

The Gambling Commission research also shows that 22% of online gamblers who use credit cards to gamble are classed as problem gamblers. The commission hopes that the ban will “will provide a significant layer of additional protection to vulnerable people.”