iGaming News

Credit Cards to be banned for Online Gambling

The UK’s Gambling Commission have as was widely expected, announced the ban on the use of credit cards as a method to fund online gambling accounts at UK licensed online gambling operations.

As from the 14th April 2020, all iGaming operators who hold a licence to operate within the UK will no longer be allowed to accept credit cards as a method to fund players’ accounts.

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The move taken by the UKGC is part of their measures to promote responsible gambling, with all UK licensees now also having to sign up to GamStop, the self exclusion service.

Commenting on the decision, the Gambling Commission’s Chief Executive Officer, Neil McArthur, said that the ban on credit cards should: “Minimise the risks of harm to consumers from gambling with money they do not have.”

McArthur went on to add: “Research shows that 22% of online gamblers using credit cards are problem gamblers, with even more suffering some form of gambling harm.”

“We also know that there are examples of consumers who have accumulated tens of thousands of pounds of debt through gambling because of credit card availability.”

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Simon Wright

Simon has been working within the iGaming Industry for some 20 years now. Whereby he has built up a wealth of knowledge in this area during this time. As well as being a main contributor for Casino Gazette, Simon also writes and reports for Casinomeister.com.

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