Online gambling has become one of the most popular adult entertainment activities in recent years. You can enter these platforms and enjoy your favorite games while earning cash prizes from time to time. We are looking for reliable platforms where you can safely bet on games and enjoy your time. It has both positive and negative consequences. To prevent those negative consequences, local governments and authorities are seeking ways to eliminate them. Recent Gambling news broke the internet. The United Kingdom’s Gambling Commission stated that the use of credit cards as a payment method in online casinos would be banned. In this article, we will cover that story and share our take on the issue.
Since April 2020, the UK’s Gambling Commission has banned credit card use on online gambling platforms. They stated that the accepted payment methods would be limited to cash deposits, e-wallets, and debit cards. The news broke the internet. It is an issue that concerns many people and gambling audiences in the United Kingdom. The argument was to protect vulnerable customers.
This ban on credit card use will not only affect the slot machine players. But also, it will be applied to every major category. The only exception to the rule is the National Lottery. That cannot be fully considered part of the online gambling business. In significant gambling news articles about the case, we learned that this decision would be enforced nationwide. Those who do not comply with it will be punished strictly.
Reasons for Banning Credit Card Use in Gambling Platforms
We can observe that not many customers are happy with this decision in online gambling news stories. The main reason is that using credit cards to access their favorite games was easier than using other payment methods. The rules are strict, and customers should obey them. A gambling newsletter on this case lists several reasons the UK Gambling Commission decided that banning credit cards can protect vulnerable players.
Neil McArthur, the chief executive of the UKGC, stated that using credit cards in the virtual casino platforms could lead to serious issues. Players can face financial risks during this process. Their main intention is to minimize the risk. And prevent online casino players from playing casino games with money they do not possess. Besides that, McArthur added some statistics to the mix. That showed us that around 22 percent of gamblers in the United Kingdom frequently use credit cards for playing online slots.
By looking at that sample size, it is very high considering the number of people enjoying gambling in this country.
Of those 22 percent of players, most have a history of financial issues. Negative consequences are rooted in gambling online. It is not a rule that is strictly applied to the customer base. The UK Gambling Commission is also urging online casino software providers and gambling platform operators about the case. It asks them to prevent their customers from using credit cards while playing.
Which Factors Pushed UK Gambling Commission to Take this Action?
Government and local authorities controlling the gambling business should step up efforts on this issue due to the pressure. Several charity groups have been insisting on these bans for years. Some of the prime examples can be Citizens Advice and Gamble Aware. Since 2018, these groups have been trying to achieve this ban on credit card use. Now they get what they wanted. They are stating that using so-called borrowed money from a bank account in gambling games is not right. It can create severe issues for customers in the long run.
For instance, if you are a slot game player who cannot resist playing but has lost all your account funds. If you can access your credit card, you would wager on the reels without actually having money. As a result, it can backfire on you because you would lose your bankroll and calculations while using credit cards for gambling. Not only will you lose the game, but you will also have to pay for the credit cards for the foreseeable future in that case.
Gambling News and Statistics about the Current State of The Issue
There are many estimations about the exact number. Still, with current statistics on hand, it is possible to say that there are more than 24 million online gambling players who are playing in United Kingdom casinos. Ten million of those players tend to gamble online and use card transfers as the primary payment method. Credit card deposits are among the most favorable options for this. Until the ban on credit cards appeared in the gambling news, an estimated 800 thousand players actively used credit cards as a primary payment method. It is stated that from the start of 2019 up to this point, there were 45 million dollars worth of bank transfers between customers and online casinos through credit cards.
So, the UK Gambling Commission raised this issue, and rightfully so, because at this pace, it is fair to say that the use of credit cards in online casinos is getting out of control. Many online casino platforms have been practicing and preaching responsible gambling for the past few years. However, it is undeniable that the addictive nature of gambling has destroyed many lives. Add credit card debts and all those issues to the mix, and now you can see that this issue can get very dangerous, especially when authorities do not intervene at the right time.
Gambling News about Preventive Actions
Not only will the local authorities investigate the case, but they will also work closely on the issue and try to identify people at risk due to the financial crisis that resulted from playing casino games with credit cards. Gambling news about the case is optimistic about the results. They believe the problem can be solved if vulnerable players can be identified sooner. For now, one thing is for sure: players would not be able to use credit cards while playing casino games for sale on any UK-based gambling websites.
Final Thoughts
Using credit cards for playing casino games is one of the popular methods we have in the casino business. Millions of people worldwide use this banking method without even thinking about the negative consequences that it can lead to. These types of gambling news and updates from different countries might create various opinions from the general public. However, the players and casino operators should understand local authorities’ take on these issues and see the risks while aiming at the rewards.
