Gambling on Credit Cards Set To Be Banned
In a welcome move by the Gambling Commission, people are to be banned from gambling using credit cards as of 14th April 2019.
Neil McArthur, Gambling Commission 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.
“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.
“There is also evidence that the fees charged by credit cards can exacerbate the situation because the consumer can try to chase losses to a greater extent.”
Credit Card Gambling Ban
The ban will cover all on and offline gambling products excluding lotteries that are run for good causes. Lotteries, including the National Lottery, can still be purchased with a credit as long as they are purchased with other products.
All online gambling operators will now have to also participate in the GamWatch scheme and offer it to all customers from March 31.