Banning Credit Cards. How will it affect the gaming landscape? - partycasino

Banning Credit Cards. How will it affect the gaming landscape?

Credit Card - partycasino

The Gambling Commission is responsible for ensuring the gambling industry in the UK is fair, ethical and protects vulnerable players. They have implemented many changes over the last decade that have helped prevent more gambling problems from arising.

Their latest rule change is set to be announced imminently, and it has to do with credit cards. The Gambling Commission is set to roll out a new rule that states all online betting websites cannot accept deposits from credit cards.

So, Why the New Rule?

By blocking payment methods such as credit cards, it helps players from slipping into a gambling problem and losing significant sums of money. By only gambling with money the player already owns through deposits with debit cards and alike, it is a step to protecting that player from entering severe financial trouble.

It does not entirely eradicate the issue though, because players could also spend all their savings or money from their everyday bank account on gambling and also enter financial instability. Nevertheless, the move is a positive one in helping players avoid gambling addiction and the tangent problems it brings.

Other forms of depositing may also be included in the ban, including e-wallets. The ban is including these wallets because they are sometimes being used to circumvent set banking limits.

Will There Be Any More Rules Announced?

The crackdown on credit cards is not the only new rule expected to be announced. It is also rumoured that the Gambling Commission is to make betting companies become members of GamStop, an organisation also fighting gambling addiction by helping players. At GamStop, players can register their details and receive a blanket ban at online betting sites within their jurisdiction. This means players are automatically denied gambling accounts at websites they have never visited before to help them quit gambling.

How Will the Change Affect the Industry?

These rule changes are undoubtedly going to frustrate some gamblers who do not have a gambling problem and enjoy their online experiences using credit cards and e-wallets without issue. They will have to switch to using debit cards.

It is unlikely to change the market share of gambling in the UK between online casinos because the rules are there for everyone, and nobody can offer a solution. However, it could force some gamblers to look at sites outside of the UK not under the control of the Gambling Commission and still offering credit card deposits. Many of the best casino sites in the UK also offer the same games in other countries with different domains – and are accessible through a VPN.

The ban is thought to only apply to online gambling as well, which may encourage those wanting to gamble with credit cards to spend a night at the casino rather than a night at home on their betting account.