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Gambling Watchdog Reviews Credit Card Gambling

February 21, 2019
credit-card-gambling

In a bid to minimise online betting addiction, the UK Gambling Commission has on Thursday, launched a consultation on the use of credit cards in gambling. The probe 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 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, using time and monetary limits and alerts, and communicating messages about gambling safely". Added to that are prevention measures which 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, and to those who play on all category B machines. We want consumers, gambling firms and other interested parties to have their say and 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, a body which represents more than 250 finance and banking firms in the UK, 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 government, the Gambling Commission and consumer groups 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.”