Credit cards have been officially banned for the use of gambling. The UK Gambling Commission announced the proposal for the banning of the payment method, to commence from 14th April 2020. Yet many casinos and customers today, still question the need for the ban and want to know the reasoning behind it. Why was it needed in the first place and under such short notice?
It all began within the past few months, where the UK government had been pushing to commence with further research and consult the idea that credit cards do more harm than good when it comes to facilitating gambling habits. The Gambling Commission had no choice but to yield to the requests and look into what extent credit cards inflict harm on gambling consumers. The idea came to seek answers and find out if the ban would appease gambling harm in the near future.
The research revealed what the UK government expected and in fact many people were affected by the negative effects of using credit cards to fund their gambling activities as a whole. Also it became apparent that those affected and the general public overall did find the ban of using credit cards very appealing and many were in favour. There are many negative stories that circle the press today of gambling victims that did not know when the right time was to say no. Therefore for the greater good, this would prevent further harm down the line.
Many gambling providers however did not appeal to the idea, responding to the credit card assessments with opposition, yet none were responded to prior to the ban. It would seem the decisions were made for them without any addressal of the ideas within from the industry’s leaders.
There were many gambling initiatives promoted last year, in aid of supporting gamblers at major operators, and it was the credit card use that popped out with alarming contributions to gambling harm, making it an indicator that could not be neglected at all.
Many do suggest that this will only cause greater harm than good, and problem gamblers will only seek to borrow funds from other alternatives-that will cause greater harm along the lines of the future than credit cards ever actually did. However, from studies conducted by the Government, 50% of gamblers responded to the idea of prohibiting credit cards positively, saying they would now only consider their own funds as a way of payment, rather than borrowing services at all.
Knowing your limits
Credit cards and card payments as a whole lose their monetary value when used to deposit in casinos. Limitations of spending and barriers to perceptions are sometimes easily lost, when players are swept up in the momentum of gambling. Therefore the ban is a great way to reinstate those barriers and allow players to really know their limits when it comes to gambling.
Statistics today show that 22% of gamblers that use credit cards had or ended up with problem gambling down the line, making it a huge issue that should not be neglected. The ban appears to outweigh the inconveniences caused and as a result push players to other payment methods like that of PayPal and other money transfer systems.
PayPal now has promised to ban the use of credit cards to fund gambling sites, meaning there are no loopholes to evade this massive change that has been introduced into the gambling world.
Players that have never used credit cards to deposit funds within a casino have nothing to worry about when it comes to this change. Debit cards still remain an acceptable use and should you wish to review other payment options, refer to our casino payment methods page.