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“Credit card gambling can lead to significant financial harm,” Neil McArthur, the commission's chief executive, said. “The ban that we have.
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Business Matters. Most betting websites in the UK will continue as normal, with gambling firms still able to offer many other popular payment methods to their customers. For the people who sadly struggle with addiction, the new rules will clearly put much-needed barriers in their way with regards to placing bets online.
The ban, which will come into force on April 14, is see more implemented to provide an additional level of protection to vulnerable people.
Realistically speaking, the new legislation should certainly go a long way to addressing the issue of problem gambling. Studies have shown thatconsumers in the UK used a credit card for gambling duringwith almost a quarter of those classed online gambling without credit card problem gamblers, highlighting why the UKGC has introduced the new rule.
Read on as we take a closer look at the newly-introduced ban on credit card payments and assess how it will affect betting websites in the UK over the next few years. Top services for students. Okay, thank you.
Research by the Royal College of Psychiatrists says that gambling is a problem for approximately one percent of the population in the UK. Charity groups such as Citizens Advice, GamCare and GambleAware have all called for the gambling industry to do much more to tackle betting addiction. With all online gambling operators also needing to sign-up to the GamStop self-exclusion scheme by the end of March , the industry appears to be well on its way to tackling problem gambling. It is the latest in a series of legislative changes to be introduced that are designed to ensure that the UK gambling industry is seen to operate in a fair manner. Businesses fail if the owner has too much self-belief. Punters can still bet with payment methods like Boku and many others that are easy-to-access, providing the funds do not come from a credit card. While this is a relatively small amount in the grand scheme of things, it is a figure that many organisations have expressed a desire to see reduced even further.