UKGC Has Officially Initiated Consultations Regarding the Use of Credit Cards in Gambling

UKGC Has Officially Initiated Consultations Regarding the Use of Credit Cards in Gambling

United Kingdom’s Gambling Commission (UKGC) has officially started a consultation regarding the use and possible…

…restrictions on credit cards in gambling. This news comes as no surprise seeing that the Commission announced the consultations earlier this year.

New Measures to Protect Players:

The use of credit cards in gambling has been recognized as an issue by the UKGC earlier this year, prompting this regulatory body to look deeper into this matter. The public outcry…

…against the use of credit cards in gambling is fueled by the uncertainty of using borrowed funds and the lack of safety measures put in place to protect gamblers from going too far.

UKGC’s answer was to hold a 12-week long consultation on this matter, held between now and November 6th of this year, and will gather opinions from various sources. Expectations on the eventual ruling vary…

…between complete ban on credit cards to various less intense restrictions.

Slot vendors and online casino operators are optimistic. The general sense is that a full ban is simply not a realistic option, while some sort of restrictions would be a welcomed change. This solution would…

…address the main issue the public has with the use of credit cards in general.

They go on to argue that a full ban would simply shift the issue elsewhere, forcing gamblers to borrow money in other ways. On top of that, there is a chance that gamblers would also use various means to…

…circumvent wealth checks and siphon money from credit cards that way.

With the call for evidence, the UKGC has received a number of opposing arguments that show a clear dichotomy of public opinion.

Following the New National Gambling Policy:

The Commission has taken a much stricter stance regarding casino operators and online gambling in general. The change of pace is attributed to the…

…new national gambling policy that was put together with the aim of offering more protection to players and reducing the risk of problem gambling and exposure to gambling addiction.

The whole idea of limiting the use of credit cards is only a small part of a massive national effort. The regulator has contracted several private institutions…

…specialized in research and data handling. Hiring specialized consulting agencies has proven to be imperative in regards to understanding the issue and reaching viable solutions.

The new plan of action consists of several different campaigns, all aimed at reducing the number of affected players. In addition to that, the new plan should relieve some pressure off of…

…addiction clinics who are currently servicing a large number of affected individuals. However, the new measures ran into some criticism as well. There is a strong opposition stemming from the industry leaders, who claim that…

…the Commission is going too far in its effort to curb problem gambling. Furthermore, they are wondering where it will stop and that is a legitimate question. Many see these consultations as something that will…

…frame the narrative of the discussion going forward.

Source: “GC launches consultation on credit card restrictions” https://www.igamingbusiness.com/news/gc-launches-consultation-credit-card-restrictionsiGamingBusiness. August 16, 2019.

 

Author: Dusan Trifunovic

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