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The UK to ban credit card gambling |
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Credit and debit cards are routinely
used by people from all over the world to make deposits at
new online casinos
and then use the money for quality online entertainment. This also applies to
those who gamble in the United Kingdom, but things could take a turn for the
worse, if the UK Gambling Commission follows through with its plan. For the
time being, this is just a thing that the Commission considers, but in a not so
distant future it could become a reality. Naturally, all those who are
potentially affected by this thread are anxiously waiting to learn more about
this topic and the proposed implementation day.
Why would the UKGC
ban credit cards for gambling?
In order to properly understand the
chances of such a measure to be implemented, its important to take a
closer look at the reasons why it is considered in the first place. The UK
Gambling Commission said that credit cards are likely to increase the risk of
consumers gambling money they cant afford to lose. This is justified by
the fact that when people have immediate access to a significant amount of
money, they are more likely to bet even slightly more than what they intended
initially. For those whore tempted to chase losses, as well as players
trying to maximize the return on investment, these are serious
risks.
Apparently, the goal is merely to keep consumers safe, by all
means and sometimes even against their will. The fact that some players have a
raked up significant amounts in debt was given as an example of how credit
cards can backfire when used for gambling. Since the online gambling industry
has recorded major profits, it looks that the commission simply tries to
balance the scales and keep things fair.
What do players think about
it?
As always, when major legislation is proposed or even
considered, there are many people who wonder whether this is something that
would actually benefit the public. On one hand, we have the campaigners for
this policy, who have claimed that players should be protected through
restrictions applying on their credit cards. Even in this case, there is no
consensus, with some people claiming that restrictions on the amount that can
be used for gambling would suffice, while others promote the outright
ban.
Detractors of this policy consider that the risks of imposing
restrictions on credit cards are significant and diverse. For instance, players
might choose riskier payment methods, which would obviously defeat the purpose
of this initiative. The UK GC has announced that measures will be discussed and
analyzed before any decision will be made. There are already controls in place
aimed at safeguarding players in general and the most vulnerable ones in
particular. The Commissions representatives argue that these provisions
can be improved and adapted to the new challenges to better serve the gambling
audience.
The industry regulator, the
United Kingdom Gambling Commission, launched a call for
evidence on the matter in February, adding that regulation could follow. It is
seeking meaningful input to help determine if restrictions, potentially
including an outright ban, are necessary to limit risks to consumers.
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