January 14, 2020Blog Posts

UK government bans credit card payments for gambling

CNBC

The British government has announced a ban on credit cards being used for gambling.

From April 14, businesses in the U.K. will be barred from accepting credit cards from consumers placing bets, Britain’s government-run Gambling Commission said. The ban will be applied to all forms of gambling, with the exception of National Lottery tickets, which the commission noted were sold in grocery stores and newsagents and would be too difficult for retailers to separate.

According to the Gambling Commission, 24 million adults in Britain gamble, with data from thinktank U.K. Finance showing that 800,000 British people used credit cards to gamble in 2018.

“Credit card gambling can lead to significant financial harm. The ban that we have announced today should minimize the risks of harm to consumers from gambling with money they do not have,” Neil McArthur, CEO of the Gambling Commission, said in a statement on Tuesday.

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