UK gambling policy stakeholders are considering banning or severely restricting betting transactions undertaken through credit verticals, in a move to protect national gambling consumers.
The UK Gambling Commission (UKGC) is reported to be considering drastic actions on limiting credit cards with a view to reducing ‘the risk that consumers will gamble more than they can afford’.
“We will consider prohibiting or restricting the use of credit cards and the offering of credit but will explore the consequences of doing so”
The review of credit betting was outlined in yesterday’s UKGC industry update on ‘How to make online gambling safer’.
The Commission is currently assessing player safety with regards to; provisions available for consumers to protect themselves, gambling product characteristics, protection of consumer funds and industry consumer terms and conditions.
So far, 2018 has been a year of realignment for all UK licensed betting operators, who have been forced to readjust their operations to adhere to new policies on sign-up bonuses, promotions and marketing terminology.
In yesterday’s industry update, Tracey Crouch UK Minister for Sport and Civil Society stated that the government was committed to developing a sustainable industry in which consumer controls were available to protect minors and vulnerable players.
In its update the commission acknowledges that for licensed operators credit cards fund between 10 to 20% of the total that their customer wagers.
Source: SBC News
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