Gambling and Sports Betting News - January 14, 2020: Gambling Watchdog Bans Credit Cards for Online Gambling
Here are today's headlines in the world of gambling and sports betting as they happen - Tuesday January 14, 2020.
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Gambling Watchdog Bans Credit Cards for Online Gambling
April 14, 2020 is the final day in which individuals can use credit cards to deposit with online gambling sites based in or licensed by the United Kingdom. PayPal and other e-wallet services are also expected to be banned as part of this referendum.
The Gambling Commission announced its new policy following concerns issued by charity groups GambleAware and Citizens Advice.
The move is seen as somewhat shocking considering that the United Kingdom has long been among the most liberal nations when it comes to all forms of gambling. Over the past year, Great Britain has also cracked down on fixed odds betting terminals as well.
From the Guardian:
Estimates from UK Finance, the trade body for banks and the finance industry, suggest that 800,000 consumers use credit cards to gamble. According to the commission, 22% of people paying for online bets with credit cards are classed as problem gamblers.
Neil McArthur, the Gambling Commission’s chief executive, said: “Credit card gambling can lead to significant financial harm. The ban that we have announced today should minimise the risks of harm to consumers from gambling with money they do not have.”
The culture minister, Helen Whately, said: “There is clear evidence of harm from consumers betting with money they do not have, so it is absolutely right that we act decisively to protect them.
“In the past year we have introduced a wave of tougher measures, including cutting the maximum stake on fixed odds betting terminals, bringing in tighter age and identity checks for online gambling and expanding national specialist support through the NHS Long Term Plan.
“We have also secured a series of commitments from five leading gambling operators that will include £100m funding towards treatment for problem gamblers.
“But there is more to do. We will be carrying out a review of the Gambling Act to ensure it is fit for the digital age and we will be launching a new nationwide addiction strategy in 2020.”
- Chris Costigan, Gambling911.com Publisher
