The UK Gambling Commission has confirmed that the use of credit cards for betting online will be prohibited from April 14th.
It is estimated that 24 million adults in the UK are betting, while almost a million of them are using their credit cards to make deposits.
The Commission conducted its research and found that 22% of online credit card players have been identified as problematic players with signs of addiction.
Players will still be able to deposit with debit cards normally.
We all know that Credit card betting can lead to significant monetary losses. The ban is expected to reduce the risk for customers who bet with cash they don't have.
We also know of examples of players who have thousands of pounds in debt through credit cards. There is evidence that extra credit card charges can make matters worse as players try to accumulate their losses by betting even more.
Τhe Commission hopes that players who bet responsibly through credit cards will understand the measure and the purposes it serves.
Τhis change will cause discomfort for players who use their cards frequently. UKGC stated that they would evaluate the ban and study any unintended circumstances.
I fully support the ban on credit cards. We've seen people gambling with money that they do not physically own. It should have happened a long time ago.
Source:betshoot.com