Credit Cards to be banned for online gambling

[Nicola]

Finally the long-awaited ban on using credit cards for online gambling has been finalised:

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[ESCJAMIE]

GOOD!, If you do not have the funds to gamble you shouldn't be borrowing money to gamble.

 

[dionysus]

GOOD!, If you do not have the funds to gamble you shouldn't be borrowing money to gamble.

Not everyone uses CCs because they dont have $ - if a casino doesnt have etransfer, I'm limited in e-wallets and dont much like them anyway
My bank for example, doesnt allow me to to direct deposit as well

 

[ESCJAMIE]

Not everyone uses CCs because they dont have $ - if a casino doesnt have etransfer, I'm limited in e-wallets and dont much like them anyway
My bank for example, doesnt allow me to to direct deposit as well

Can you just not get a debit card? or move to another bank? Also ive used paypal for 6 years never had an issue with it most e wallets are 100% safe

 

[dionysus]

I have a debit card; TD doesnt allow you to use them except for the govt casino website

 

[misstrouble]

GOOD!, If you do not have the funds to gamble you shouldn't be borrowing money to gamble.

I have a credit card as it helps me build credit. I never have a negative balance their as I send money straight back.

 

[EkJR]

Of course it's a good thing. Allowing people to gamble without their own money essentially.

 

[shadow123]

Still be able to buy lottery tickets using them, gits

 

[dionysus]

so, it's now, what, like one extra step, to cash advance off your CC

 

[LordSilver]

I do understand the reasoning and the intent is good, but the issue is that I don't think this prevents problem gamblers. There is a balance between regulating enough and over-regulating and once you start to over-regulate the problem gamblers will move to the grey market, out of control and help.

 

[ESCJAMIE]

I have a credit card as it helps me build credit. I never have a negative balance their as I send money straight back.

To clarify I mean people who take out CC To be able to use funds they do not have to gamble

 

[L&L-Jan]

I think this is an ok move, don't have much against it. However, limit the max stake for regulated casinos will cause a huge problem, I hope that won't go through.

 

[colinsunderland]

Not everyone uses CCs because they dont have $ - if a casino doesnt have etransfer, I'm limited in e-wallets and dont much like them anyway
My bank for example, doesnt allow me to to direct deposit as well

But you don't play under UK Licenses do you? We have a multitude of options to deposit with here. I'm all for this.

The £2 max stake Jan mentions, I think will be a disaster for the industry and will 100% have people moving to unlicensed casinos outside the UK. I really hope that doesn't come in.

 

[shadow123]

Must admit I ran up big debts on cc,s gambling many years ago,should never have been allowed but nobodies
fault but my own.The repayments grew to horrendous levels.Somehow I managed to get it sorted and never
used them again,My credit score is flying high now and I only bet with my own funds and within sensible
limits.This is a good move from the UKGC for a change but the report mentions a lot changes coming up
in 2020 which sounds ominous.

 

[Mark_32Red (retired acct)]

It will be interesting to see if e-wallet providers can implement a block for credit cards in the short timescale that we’ve been given. Unless they do, expect Skrill, Neteller, PayPal etc to all be blocked with this change.

 

[colinsunderland]

It will be interesting to see if e-wallet providers can implement a block for credit cards in the short timescale that we’ve been given. Unless they do, expect Skrill, Neteller, PayPal etc to all be blocked with this change.

It could be done on a card provider level surely? I have bank accounts (Monzo for example) where I can block gambling transactions. All it takes is all card companies to block any transaction with a gambling code, as I believe the transaction type for gambling has it own doesn't it?

 

[Mark_32Red (retired acct)]

It could be done on a card provider level surely? I have bank accounts (Monzo for example) where I can block gambling transactions. All it takes is all card companies to block any transaction with a gambling code, as I believe the transaction type for gambling has it own doesn't it?

Fair point - I expect we’ll be responsible for making sure they are blocked though and not leaving it to the card providers.

How does the bank know where your cash is going if you top up PayPal? You may want to buy something off eBay?

 

[colinsunderland]

Fair point - I expect we’ll be responsible for making sure they are blocked though and not leaving it to the card providers.

How does the bank know where your cash is going if you top up PayPal? You may want to buy something off eBay?

Presumably the same way Skrill does, it asks if its for gambling or not and if you say no, it refuses any transactions for gambling using those funds. If yes, and you are using a credit card, block it. The easy way is make the card providers responsible, a bit unfair if its on the casino, considering bank already has the technology in place.

 

[thr0b]

Fair point - I expect we’ll be responsible for making sure they are blocked though and not leaving it to the card providers.

How does the bank know where your cash is going if you top up PayPal? You may want to buy something off eBay?

You can’t top up PayPal with a credit card, you can only pay with one.

 

[bianchini82]

very good news, hope it will happen soon in Italy also

 

[steveh35]

Using a credit card to purchase a National Lottery product in store will not be banned as it is called a "non remote lottery" and lotteries which are for charitable purposes.

 

[thr0b]

Presumably the same way Skrill does, it asks if its for gambling or not and if you say no, it refuses any transactions for gambling using those funds. If yes, and you are using a credit card, block it. The easy way is make the card providers responsible, a bit unfair if its on the casino, considering bank already has the technology in place.

Yeah, I have a card which blocks Gambling purchases at the provider end - it won’t take much effort for the FCA to enforce that. Not fair to put the onus on the casino groups to check which card has been used on an e-wallet, though I don’t doubt some unscrupulous sites will use that to delay payouts.

 

[steveh35]

Presumably this is why Videoslots partnered up with PayPal yesterday to offset the predicted Credit Card ban.

 

[Balthazar]

so, it's now, what, like one extra step, to cash advance off your CC

Look at the bright side: the interests on your loan now start on day one.

I don't know if it will affect us Canadians as well. While it looks fairly simple to gamble without a CC overseas, here it would be more of a PITA since we basically have no access to e-wallets for gambling. I know about Interact but it's..well...not ideal.

 

[EkJR]

I think this is an ok move, don't have much against it. However, limit the max stake for regulated casinos will cause a huge problem, I hope that won't go through.

If the max stake restriction goes through it certainly wont be in April! Is there not a consultation running on this?