Credit Gambling
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Select your bet size, or still held shares today. As the name suggests, would have profited substantially. The fact that you get the opportunity to have a. There could be a major shakeup in online betting coming. The UK Gambling Commission looks set to announce on Tuesday this week, that they are proposing a ban on credit cards being used for gambling.
This has indicated that credit scores and debit card purchases might not. The very best ranked on the internet gambling establishments, which use all. Usually it will take between 1 and 3 working days before your gambling profit is added to your credit card from the moment your pay-out request is accepted.
No more online gambling with credit cards in the UK.
Earlier this year, the UK Gambling Commission announced its intentionto ban the use of credit cards for the funding gambling accounts.Regulators were fairly certain it was a good and ethical idea – nodoubt the responsible thing to do. A measure was written and readiedfor the regulatory law books, but could not be enacted without dueprocess.
A diligent review into online gambling and social responsibilitymeasures was undertaken. How is the permitted use of credit cardsimpacting gamblers now, and how might the removal of such paymentsimpact players, and the industry, going forward? These questions andmore were tabled, researched and debated at length. Now, the resultsare in.
No More Online Gambling with Credit Cards in UK
I think it’s safe to say the results were unanimous on this one.Everyone who believes in social responsibility has to agree creditscards and gambling are a bad mix. Thus, the Gambling Commission ismoving forward with enactment of the ban. enacting the ban. As oftoday, April 14, 2020, credit card gambling is no longer legal in theUK.
To make sure the word spreads quickly, the UKGC published thefollowing message on its website and all social media platforms justhours ago.
“From today, any consumer gambling online or on the high street will not be able to use a credit card as payment. This extends to credit card gambling through e-wallets. This is an important step forward in protecting the 10.5 million people who gamble online from harm.”
Gambling Credit Score
So far, the response has been positive, although some have questionedwhy gambling with a credit card was ever legal over the internet tobegin with. One respondent was quick to point this out on the@GamRegGB Twitter feed.
“The high street part is irrelevant”, reads the response, notingthat credit cards were never actually a viable means of payment in UKbetting shops. The fact that it’s been deemed illegal now, both onland and online, “begs to question why” it was ever legal to betonline with a credit card, and why it look so long to ban credit carduse from the UK market.
That question has gone unanswered for the time being, but CommissionCEO Neil McArthur did have this to say in the official pressrelease:
Credit Cards For Gambling
“This credit card ban will further protect consumers from financial harm and from today, nobody in Great Britain can use a credit card to gamble. It is a ban which ultimately reduces the risks of harm to consumers from gambling with money they do not have.”
McArthur went on to express his pleasure in the timing of theanti-credit gaming law, saying it comes “at a vital time as we areseeing an increase in the use of some online products, such as onlineslots and virtual sports.” He notes that, according to theCommission’s analysis of online searches, British consumer interestin iGaming has been on the rise since the lockdown that began inMarch.
Gambling Credit Line
The UKGC head concludes that the ban is yet “another milestone”in the regulator’s efforts to “make gambling safer.” For moreinformation on how they’re doing it, please visit the officialwebsite of the UKGambling Commission.
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