Credit Cards to be banned for online gambling

[Playford7]

Hmm i think its ok i guess. Sure people can get around it if they really want but it will stop some tilt deposits and give the person time to chill out while they drive to do cash advance to buy a prepaid card or paysafe. Sucks for people who are responsible though. Casinos have always found a way around blocks and i am sure they will find a way to offer deposits to a 3rd party to transfer it through them

Can we in the uk even buy paysafe or prepaid things for the use on casinos?

 

[Mr_Slot5]

Can we in the uk even buy paysafe or prepaid things for the use on casinos?

I believe so

 

[Playford7]

I believe so

Never knew that. What are they even called?
Also to be able to pay via phone bills should be banned. That’s absurd it’s aloud in the first place.

 

[Mr_Slot5]

Never knew that. What are they even called?
Also to be able to pay via phone bills should be banned. That’s absurd it’s aloud in the first place.

No idea mate I only ever deposit via debit card and PayPal.

Yeah BGT Games used to allow a phone deposit method.

 

[Guntis]

From the point of responsible gambling, why would anybody use a credit card for gambling online, to build a credit history playing Bonanza?

I would say, it's clear that a person hasn't got money! And a person is going to risk losing money which isn't his/her own money.

 

[Mr_Slot5]

I would say, it's clear that a person hasn't got money! And a person is going to risk losing money which isn't his/her own money.

For the umpteenth time, as soon as you commit to a transaction it is your money. As soon as you signed the credit agreement, it is your money.

If we're going to get pedantic, any money that you have in the bank is not your money either by that token. And if we're going to get really deep into economics, money isn't money...it's merely transferred debt. Whether it be a debt the bank owns in relation to yourself or debt you own in regards to the bank/other creditors.

Look at a UK bank note- it's a promisory note and nothing more. 'I promise to pay the bearer the sum of...'

Why do you think gold becomes more valuable during times of economic turmoil?

 

[goatwack]

I can vouch for being one of those credit card chumps, although Bonanza hadn't even been invented!

Ah, the good ol' days of care-free deposits via credit card to splurge on the likes of Avalon II & co (remember when that was a 'thing')

I recall one time getting a good hit on DOA and withdrawing back to my credit card. The company nearly had kittens because I'd managed to slightly be in credit, you'd have thought I'd killed someone the way they were bleating on. Think of it as an 'Anti-SoW' if you will

But still, in time I maxed-out ye olde credit card limit and it sure enough felt good paying it off. Now they gather dust as I won't even entertain the notion of gambling on credit!

Thanks for listening, you've been a great audience

 

[colinsunderland]

For the umpteenth time, as soon as you commit to a transaction it is your money. As soon as you signed the credit agreement, it is your money.

If we're going to get pedantic, any money that you have in the bank is not your money either by that token. And if we're going to get really deep into economics, money isn't money...it's merely transferred debt. Whether it be a debt the bank owns in relation to yourself or debt you own in regards to the bank/other creditors.

Look at a UK bank note- it's a promisory note and nothing more. 'I promise to pay the bearer the sum of...'

Why do you think gold becomes more valuable during times of economic turmoil?

But it still comes back to affordability. This isn't the only industry it applies to, most payday loan companies have closed due to not doing affordability checks. Northern Rock collapsed due to not doing affordability checks (and doing 125% mortgages).

 

[paul7388]

Can we in the uk even buy paysafe or prepaid things for the use on casinos?

Yeah just go to any shop that does paypoint for paying bills etc. and you can buy paysafe vouchers.

I use them mainly for Coral as that is the one bookies i do not use a debit card on. Deposit by paysafe or Neteller there and always withdraw to Neteller .

They are basically just the same as walking into WH and buying a Cash Direct or going into ladbrokes and putting cash in account.

Handy as it means not as many transactions on bank statement for gambling. Also use them at times on WH rather than depositing from bank tho always withdraw from there to Debit card.

 

[sufferinsilence]

One more step before being able to deposit money they can't afford to lose might stop some people. When you're chasing it's all about the impulse and how easy it is to redeposit until you hit the card limit.

Ofcourse there's those that will go to extraordinary lengths to feed their addiction and know all the tricks in the book.

 

[goatwack]

Yes, credit cards enable that impulse as such, as it's to all intents and purposes 'free money'. No one thinks 6 months ahead in the moment.

So really what this boils to is the validity of credit cards themselves....but as has been mentioned, without credit the economy would tank overnight (as it would with 'too much' credit a la 2008 crash)

 

[Guntis]

For the umpteenth time, as soon as you commit to a transaction it is your money. As soon as you signed the credit agreement, it is your money.

No. A credit amount on your MasterCard is legally yours but it belongs to the bank or a credit company that issued the credit. You can treat it similarly as you would treat the one that is on your debit card but at some point, you will be asked to pay it back.

And if anyone's gambling by using MasterCard — means he hasn't got money and he is risking to get into (even) bigger debt!

I don't have credit cards and never need one but I know that in real casinos in London Mastercards never been accepted. Maybe in some super high-class casinos like Crockfords, they do accept but in others where I used to play — never.

And the rule regarding credit cards and SOW directly comes from UK's land-based gambling establishments so nothing's new here.

 

[TheSchwad]

I almost solely use credit cards to deposit as its convenient (and they would fight for me in the same way as they would if a purchase went wrong, or I was scammed), I pay it off each month from my bank account and it keeps my bank account clean of gambling transactions. Over Christmas, after a few big hits it went £3k in credit which was nice and meant I didn't need to use my debit card at all for a while.

I understand some people don't have self-control but I'm sick of the 'nanny state', where is the accountability of one's actions these days. I got myself in financial trouble in my younger days, only I was responsible for that and worked myself out of it, it seems all too easy to lay the blame at someone else's door these days.

Don't get me wrong it may save quite a few people from quickfire frivolous decisions and loss of funds, but in the long run, if you want to gamble you'll find a way to waste the money anyway. Now this has been set in place how long before the max stake is implemented? I rarely spin over £1.20 but would still like the option too, when I feel like it. And where is the parity, I once bought 5 packs of National Lottery scratch cards (at a cost of £600, £120 per pack) bet I will still be allowed to do this if a max stake is implemented! (it wasn't worth it, I won about half back on each pack, took ages to scratch and the shop I cashed them in at was least impressed.)

In the short term, I'll continue to deposit till mid-march using credit cards then probably open a bank account purely for gambling transactions.

Last thought, what happens to someone whose main source of deposits have been with a credit card once the ban comes in and want to withdraw funds, (ala Videoslots, regardless of deposit method, withdrawal is always to card with most deposits) will they still be allowed to withdraw to the CC?

 

[Playford7]

For the umpteenth time, as soon as you commit to a transaction it is your money. As soon as you signed the credit agreement, it is your money.

If we're going to get pedantic, any money that you have in the bank is not your money either by that token. And if we're going to get really deep into economics, money isn't money...it's merely transferred debt. Whether it be a debt the bank owns in relation to yourself or debt you own in regards to the bank/other creditors.

Look at a UK bank note- it's a promisory note and nothing more. 'I promise to pay the bearer the sum of...'

Why do you think gold becomes more valuable during times of economic turmoil?

Only your money once you spent it and paid it back plus the cc charges.
How many compulsive degenerate gamblers you think do that?

 

[interlog]

One of the few good things the UKGC has implemented