UKGC to consider ban on Credit Card betting

Steven Dawson

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The regulator said on Monday gambling on credit cards “increases the risk that consumers will gamble more than they can afford” and it would “consider prohibiting or restricting the use of credit cards” in order to protect gamblers from racking up huge debts that they cannot pay.

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dunover

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Yeah, this has been mooted for a while.

Pointless.

You can fund webwallets with credit cards.
You can get cash advances on them and transfer them to your bank account.
Or cash from ATM and pay it in through the wall.

All this does it prevent in reality direct deposits unless there's more detail to it (I haven't the time to check it all out).
 

Steven Dawson

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You can fund webwallets with credit cards.
You can get cash advances on them and transfer them to your bank account.
Or cash from ATM and pay it in through the wall.
This was my first initial thought as well. Although it wouldn't surprise me if they then requested that players had to prove where funds came from if paying by web wallets etc.

I can imagine the next port of call will be for operators to carry out strict Credit Checks on players similar to when applying for a loan etc.
 

geordiecolin

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This was my first initial thought as well. Although it wouldn't surprise me if they then requested that players had to prove where funds came from if paying by web wallets etc.

I can imagine the next port of call will be for operators to carry out strict Credit Checks on players similar to when applying for a loan etc.
I can see it making a big difference on impulsive gambling which must make up a fair amount of the total income of most casinos.If so then we may see a large amount of casinos turn their backs on the UK market- IF it was ever implimented
 
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Steven Dawson

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I can see it making a big difference on impulsive gambling which must make up a fair amount of the total income of most casinos.If so then we may see a large amount of casinos turn their backs on the UK market
Anyone would think that was their plan all along! :rolleyes:;)
 

nutnut

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I think what is happening is the gravy train from profiting from addicts is going to be over soon.

KYC checks
Income checks
Banning credit cards
Banning adverts

All this means is less profit for casinos and affiliates who are the ones who directly profit off players. No non addicts would ever use a credit card to fund gambling anyway. As long as we can still gamble freely I've no issues with these strict rules, but when it starts affecting the general peoples ability to gamble because of addicts then I have a issue.
 

colinsunderland

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Yeah, this has been mooted for a while.

Pointless.

You can fund webwallets with credit cards.
You can get cash advances on them and transfer them to your bank account.
Or cash from ATM and pay it in through the wall.

All this does it prevent in reality direct deposits unless there's more detail to it (I haven't the time to check it all out).
Skrill ask if it is for gambling or not, not sure about the other wallets.
Not that many do cash advances
Cash from an ATM then pay it back in stops impulsive deposits.

So not that pointless. It's a good thing, people shouldn't gamble on credit cards.
 

bowki

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No non addicts would ever use a credit card to fund gambling anyway.
I disagree with you on that. I started using my Visa when it became more and more common to ban skrill and NETELLER for a bonus.

Its easy, fast and I have to pay zero fees for deposits or withdrawals. Money is available the next day and I can spend it or cash it out at every ATM in the world for free.

So it’s very comfortable for me to use it.
 

brianmon

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I disagree with you on that. I started using my Visa when it became more and more common to ban skrill and NETELLER for a bonus.

Its easy, fast and I have to pay zero fees for deposits or withdrawals. Money is available the next day and I can spend it or cash it out at every ATM in the world for free.

So it’s very comfortable for me to use it.
Is that a Visa Debit or Visa Credit card though?
Payments back to a credit card, aren't usually available until the next accounting period, although they do show on the balance
 

bowki

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Credit. Usually when I withdraw the money is available at midnight the next day.

Maybe it’s different in every country?
 

lockinlove

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It will stop alot of impulse deposits that's for sure. It's not as easy as some are stating to just go and deposit in an ewallet with a credit card. A lot of them block it and block some entire countries. It will not stop a problem gambler who is persistent and has time to waste, like cash advances and buy prepaid vouchers with them.

Sometimes we get caught up playing and having fun, or trying claim bonuses when they are available and when all is said and done and you lost more than you wanted, it sucks. It can happen.

Credit card companies do prey on people too. Increasing your credit limit til suddenly you have a 20k limit..bad news for a problem gambler.

A lot of people gamble with the intention of winning so when they convince themselves hey I can make a few more deposits I have room on my credit card..well thats how things go bad and suddenly you are sitting there wondering what happened.

Sure its not fair to people who use them responsibly but it's one of those things that someone else is ruining the party for others.

It takes a moment of weakness to blow everything up.

I know a person who took out a line of credit worth $40,000 who has a wife, kids and mortgage all because he believed $20 spins on bonanza would be a good payoff. He never had a problem before, he just got taken in by something dark. He quit and is paying it back so yeah a problem gambler or a person who wants to gamble will find a way. But averting impulse deposits wouldnt be a bad thing.
 

brianmon

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Credit. Usually when I withdraw the money is available at midnight the next day.

Maybe it’s different in every country?
Or maybe just different for each card company.
Also, if I was to deposit at a casino using my credit card. I'd be charged a cash advance fee, by the card company (Not the casino) since they consider a casino deposit as cash, rather than a purchase
and also be charged a similar fee if i withdrew cash from an atm
 

dionysus

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Sure its not fair to people who use them responsibly but it's one of those things that someone else is ruining the party for others.
My worry here would be, is that if it's implemented, casinos will remove the CC option altogether - so what about say, us Canadians that use prepaids....0 impulse worries here, you literally have to go out and buy one; it would be more headache going back out and buying another than simply spunking a larger load via e wallet or other means of deppo
 

lockinlove

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My worry here would be, is that if it's implemented, casinos will remove the CC option altogether - so what about say, us Canadians that use prepaids....0 impulse worries here, you literally have to go out and buy one; it would be more headache going back out and buying another than simply spunking a larger load via e wallet or other means of deppo
I would think everything mastercard, visa, amex would be banned. The entire option for a credit method wouldnt exist.

We can use paysafe here. Not all casinos accept them. But I dont even know if this would apply to us since we arent under the UKGC
 

dionysus

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I would think everything mastercard, visa, amex would be banned. The entire option for a credit method wouldnt exist.

We can use paysafe here. Not all casinos accept them. But I dont even know if this would apply to us since we arent under the UKGC
No wouldnt apply to us - id hate though that because one country mandated it, casinos remove the option altogether...probably not I guess
though we have seen instances where SOW seems to be leaking over, though not required for us
 

dunover

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Skrill ask if it is for gambling or not, not sure about the other wallets.
Not that many do cash advances
Cash from an ATM then pay it back in stops impulsive deposits.

So not that pointless. It's a good thing, people shouldn't gamble on credit cards.

In theory, agreed - but we all know problem gamblers can be very artful and perceptive to any means imaginable which perpetuates their gambling.
 

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