Published: 16.04.2019, 17:34
1 min read
It seems that the UK is putting sticks into the wheel of the gambling industry, as the country’s Parliament is seriously considering banning the use of credit cards for gambling.
This comes as another blow to the gambling industry since the UK has already imposed the maximum bet reduction from £100 to just £2 on FOBT (fixed-odds betting terminals). The UK Gambling Commission has also previously announced that it would look into the use of credit cards in online gambling.
According to the Labour party, more than £11 billion is wagered monthly through credit cards and leads to compulsive gambling. Although no particular figures were presented to support the claim, the aforementioned Gambling Commission did look into offline credit card usage, where it constitutes more than 20% of all wagering deposits.
Credit card usage in online gambling was not addressed. If affected by the potential ban, the result could be catastrophic, as it would render the ease-of-use of online casinos and betting sites to be obsolete for a lot of users.
The UK gambling industry is suffering blow after blow due to the existing and potential laws. This comes at some of the worst possible times, considering that Britain might leave the EU within the nearest months, with Brexit negatively impacting the gambling industry.
