Starting April 14, gamblers in the United Kingdom will have one less form of payment option for their bets. The UK bans credit cards for online gambling. The Gambling Commission made the new rule because of the increasing number of people engaging in online betting during the coronavirus pandemic.
The UKGC announced the ban last January. However, the new regulation expands credit card gambling via e-wallets. Also, it applies to both offline and online betting. The UKGC supervises and licenses gambling in the nation.
According to research, around 10.5 million people gamble online in the UK. Also, the study showed 800,000 individuals use credit cards to process their bets. Out of that number, around 175,000 are problematic gamblers.
UK Bans Credit Cards to Protect Consumers
Neil McArthur, Gambling Commission’s chief executive, told the best sportsbook pay per head providers that the credit card ban will protect consumers. It lowers the risks of harm from gambling with money they can’t afford to lose.
Also, the ban came at the right time when there’s an increase in online gambling usage. More people are playing online slots and digital sports during the lockdown, according to sports betting software solution reports.
Consumers can still use their credit cards to purchase lottery tickets if they do so with other items in a newsstand or supermarket. Also, players can only use e-wallets for gambling if they don’t allow credit card use for gaming.
The UKGC has taken several steps to improve consumer protection during the lockdown. For instance, gambling sites must allow players to set a limit on how much they can spend on the website.
Also, the commission partnered with Twitter to allow users to control the number of gambling-related items seen in their feeds. If you want to be an online bookie in the UK, make sure you follow the UKGC’s guidelines.