UK Bans Gambling With Credit Cards – Will Canada Follow?
" The UK gambling watchdog has announced the news"
The UK’s gambling watchdog, the Gambling Commission has announced that gambling businesses will not be able to accept payments via credit card from April 14th onwards. The law will apply to both online and in-person businesses.
The ban will also apply to credit card payments made via e-wallet services such as the popular PayPal. However, it is believed that e-wallet companies will take steps to prevent the use of credit cards for online casinos.
There are some exceptions to the ruling. Lotteries that are run for good causes are exempt but these services will have to provide additional protection for vulnerable gamblers.
That is part of a wider move to curb problem gambling. The law also requires all online companies to adhere to the Gamstop self-exclusion scheme. This applies to gamblers who have signed up for the programme and it means that they will be unable to use any of the sites which are a part of the scheme.
Credit card fees can “exacerbate the situation”
The issue with credit card payments is that users aren’t playing with their own money.
“Credit card gambling can lead to significant financial harm,” said Neil McArthur, chief executive of the Gambling Commission.
“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.”
It’s a major ruling in the UK but will Canada follow? Canadian players are free to use credit cards to make payments to online companies right now and there is little to suggest that will change.
However, laws are constantly changing and being reviewed and perhaps this will make Canada reconsider its decision. Online-Casinos-Canada news will keep you updated if anything does change.
Published date: 2020-01-15 14:53
Modified date: 2020-01-15 14:53