UK Considering a Ban on Credit Cards for Online Gambling
The United Kingdom has been implementing some new laws toward its online gambling industry. Last week, they announced an advertising ban for anyone under the age of 25. This week, the UK’s gambling commission has stated that they are considering a ban on credit cards for online gambling.
At this point, the credit card ban is still being reviewed. The Gambling Commission is now asking for the public’s opinion over whether this ban would help players.
Recent Changes to Online Gambling Laws in the UK
The UK is still the online gambling hub of Europe. Millions of people here place bets online every month. Gambling companies such as Bet365 and Betway Sports are based here. In recent months, the United Kingdom has worked to prevent problem gambling.
Back in early February, the UK began demanding foreign gambling websites operating in the country to perform early identity checks. In the past, these sites had a 48-hour period before verifying their player’s identity. Some of these websites were accused of withholding players’ winnings after discovering they were underage or gambling under a false name.
Last week, the Gambling Commission took another step to protect its online gambling industry. This group called on gambling operators to cease all marketing activities toward anyone under the age of 25. This includes any marketing activities on websites with a predominately young user base.
This country is now considering a complete ban on credit cards for online gambling. If this law is passed, it would be one of the biggest restrictions to the gambling market to date. Fortunately, the public is able to weigh in on this potential restriction.
UK’s Ban on Credit Cards for Online Gambling
On February 21st, the UK’s Gambling Commission called on the public, gambling operators, and shareholders for their opinion over new regulations for gaming machines and a ban on credit cards for online gambling. This move comes in an attempt to prevent gambling addiction throughout the country.
The fact that they’re asking for differing opinions is a good sign. Not long ago, the Commission here asked for public advice on increasing the age limit for online gambling. This group has proven that at the end of the day, they are going to implement the laws that they feel are best.
Gaming machines have been a subject of debate for many years. Category B machines, which offer a top prize of £500 and a maximum bet limit of £2, are said to be one of the most popular forms of gambling in the country. The UK is considering adding new protection measures for these machines. These measures could including tracking players’ time gambling and limiting the amount of money that can be spent.
They are also looking at the possibility of a ban on credit cards for online gambling. Nearly all of the most popular online gambling sites in the UK accept credit cards as both a deposit and withdrawal payment method. A ban on these cards could seriously hurt these companies from generating revenue.
What Can We Expect to Happen Next?
The Gambling Commission wants feedback. They’ve implemented several recent restrictions on both players and companies. A ban on credit cards for online gambling would take things to a whole new level.
It’s likely that both the public and gaming operators will voice their concerns over a credit card ban. It’s the simplest way to make deposits and withdrawals currently available. The proposed credit card ban would likely be ineffective.
All this would do is increase the use of e-wallets and cryptocurrency. This could make the UK’s attempts to regulate gambling activities even more difficult. Hopefully, the Gambling Commission recognizes this fact.
It’s possible that this country begins working to completely ban gaming machines. Millions of people throughout the UK use these machines annually. It’s clear that the government here is fed up with this form of gambling.
Do you think the UK will order a ban on credit cards for online gambling? How would this affect the online gambling industry here? Let us know what you think in the comment section below!
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