UK Gambling Commission considers banning credit cards
The UK Gambling Commission this week began a 3-month consultation with financial experts on the potential banning of credit cards from licensed gambling. Currently, there exists the option for players to deposit using a credit card, but this functionality is being heavily scrutinised and examined as an enabler of irresponsible gambling.
The stigma around the facilitation of credit card usage on betting sites has reached a climax. There are a number of reasons why the landscape in gambling disagrees with this functionality, but it primarily focuses on the enablement of gambling addiction. The exploitation of addicted bettors is something the UK Gambling Commission is constantly analysing, in an effort to curb this culture, the removal of credit cards appears to be the newest and most prominent issue.
When it comes to evidence and data, the UK Gambling Commission is said to be taking recommendations and opinions from various industry stakeholders before drawing their conclusion. But the general consensus of the negative impact comes from charities and third-sector organisations. The UK Labour party has also made passionate calls for this to be implemented across the industry. The issue is not just contained within the UK either, in Australia a major bank decided to ban the use of its credit cards at betting companies. This could set a major precedent for the things to come.