Posts Tagged ‘UKGC bans credit cards online gambling’

UKGC Online Gambling Credit Card Ban Will Hurt Poker

Thursday, April 16th, 2020

The UK Gambling Commission made an interesting decision to ban online gaming credit card payments. This move wipes out the most-popular way to deposit at internet gambling sites.

Proponents hailed the move as a way to reduce problem gambling. Of course, it’ll also hamper every form of internet gaming, including online poker.

Why Did the UKGC Ban Credit Cards at Online Gambling Sites?

Tom Watson, the deputy leader of the Labour Party, first began pushing for this ban in 2017. He vowed to make good on this policy if the Labour Party became the majority.

Watson didn’t win reelection and stepped down as the party’s deputy leader in 2019. However, the UKGC picked this torch up and began pushing for credit cards to be dropped as a payment method.

The Gambling Commission researched the matter and found that 800,000 out of the UK’s 10.5 million online gamblers use credit cards. Furthermore, 22% of this group falls into the problem gambling category.

“It is a ban which ultimately reduces the risks of harm to consumers from gambling with money they do not have,” said UKGC chief executive Neil McArthur.

This decision also affects land-based gambling venues too. Betting shops won’t be able to accept credit card payments either.

Will UK Online Poker Remain Strong?

The move to ban credit card deposits will no doubt have a negative effect on internet poker. After all, thousands of Brits make credit card payments every day to play online poker.

However, people still have other options for funding their accounts. They can use e-wallets, bank transfers, prepaid cards, and wire transfers, among other options.

Of course, credit cards offer an easier route towards placing deposits. Online poker sites should see a slight dip in traffic as a result of the ban.