Gambling Watchdog Reviews Credit Card Gambling
In a bid to minimize online betting addiction, the UK Gambling Commission has launched a consultation on the use of credit cards in gambling. The probe was launched on Thursday and it also includes other gaming machine limits. The gambling watchdog is requesting information from both financial institutions and gaming operators as part of its investigation. Read on.
About the Credit Card Gambling Probe
Great Britain’s gambling industry regulator has called on not only gambling operators and financial institutions but individual customers and debt relief charities. They have been called on to provide evidence about the use of credit cards in gambling. This includes the usage and risks associated with gambling with credit cards. The watchdog is looking into options to protect players such as “tracking play. They will use time and monetary limits and alerts, and communicating messages about gambling safely”. Added to that are prevention measures that could help in restricting or prohibiting the trend.
The commission’s Executive director, Paul Hope said: “We are exploring measures that could help reduce the risk of harm to consumers who use their credit cards to gamble online. To those who play on all category B machines. We want consumers, gambling firms and other interested parties to have their say. They must also provide evidence that will help us make gambling safer.”
The commission which already backs credit card gambling restrictions has mentioned a couple of options which include a full rollout of card-blocking activities for the customer and also imposing limits until gambling operators have fully verified player information.
Financial Operators Keen to Assist
According to reliable sources, UK Finance will be making submissions of their evidence before the May 16 deadline. The company spokesperson said: “The banking industry wants to help customers avoid the risk of gambling-related harm.
The industry continues to liaise closely with the government, the Gambling Commission and consumer groups. The aim is to build on existing initiatives by a number of credit card issuers, including schemes that allow customers to block the use of their card for online gambling.”
“Consumers should not gamble with money they do not have,” weighed the gambling watchdog. “We said we would consider restricting or prohibiting the use of credit cards for gambling, but that we would explore the consequences of doing so. We, therefore, committed to conduct further work in this area.”
