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British gambling regulator aims to ban online credit card bets

Wednesday 15 January 2020 10:23 CET | News

The Gambling Commission has announced plans to ban bookmakers from taking credit card deposits for betting online, aiming to prevent the exploitation of vulnerable customers.

Currently, betting websites like PokerStars, Betfair, 888 and Bet365 allow their customers to make deposits online using credit cards, which has led to warnings from campaigners that gamblers risk racking up large debts.

Thus, the announcement by the regulator was imminent, according to industry watchers. It comes two years after charity groups such as GambleAware and Citizens Advice urged the government to implement the policy to protect people from sliding into gambling addiction, according to the Guardian.

The regulator is expected to unveil a full ban on credit cards being used for online gambling accounts. Customers will be limited to using their debit cards to prevent them from overextending themselves. The consultation that led to the commission’s decision included e-wallets, indicating that payment services such as PayPal will probably be included in the ban.

A ban on gambling on credit has been Labour policy since September 2018, after mounting support from MPs across the political divide to prevent gambling companies from exploiting vulnerable customers.
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Keywords: gambling, betting, payments , credit cards, debit cards, e wallets, UK, betting online
Categories: Payments & Commerce
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Countries: United Kingdom
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