UK Credit Card Ban Goes into Effect Amid a Lockdown
The notorious credit card ban in the UK went into effect last week. After months of announcements, rumours, and debates, players in the UK no longer can use credit cards in casinos.
Only a week after the UKGC implemented the new regulation, players have found other ways to transfer money within online casinos. The British regulator said that the ban came in the right time, as global gambling surges during COVID-19 lockdown.
Visa No More
The ban became quite controversial ever since the UKGC announced it months ago. However, the regulator stands firmly behind its decision to prohibit the use of cards and e-wallets for online gambling. One of the main catalysts for the ban was the increase in gambling throughout the world, both land-based and online-wise.
However, the UKGC explained that the increase in the number of players is not that worrying. What worried the regulator, even more, was the increase of problem players that used credit cards to cover expenses using money they did not have.
Namely, a previous study into online gambling and banking methods showed that thousands of players relied on borrowed money to pay for debts. The situation became highly alerting when the regulator found that most of these players were actually problem gamblers.
What is more, there was an even higher risk for those who had the situation under control. They could now face a potential gambling addiction.
Increase of Gambling During Quarantine
The global situation changed the landscape of global gambling, as well. As the entire world is under quarantine right now, online gambling surged. More and more players are turning to online gambling as a form of entertainment. Given that it could lead to a potentially hazardous situation, the ban on credit cards came in the perfect moment.
The UKGC was praised for such a bold step, and other significant regulators announced similar measures in their jurisdictions soon. Plus, the British regulator has more new regulations in store. In the summer, the regulator might implement a strict ban on VIP programs and Welcome Bonuses, which will undoubtedly affect operators.
EXCLUSIVE SIGNUP BONUSES
BestCasinos team consists of online casino experts dedicated to spreading their knowledge and experience to a wider audience, all in effort to help even the most inexperienced players gain their footing in this exciting industry.