UK bans credit cards for online poker, other gamblingJanuary 15, 2020 7:28 pm
Online poker players and gamblers in the United Kingdom who currently fund their accounts with Visa or Master Card will need to find a new funding method.
Earlier this week the UK Gambling Commission released new regulations that would make it illegal for online gambling deposits to be made with credit cards.
The ban will come into effect on April 14, 2020. According to the Gambling Commission then ban is being implemented to reduce problem gambling.
Neil McArthur, chief executive of the Gambling Commission said in a release, “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.”
The ban will apply to all online and offline gambling offerings in the UK. The only exemption is being given to lotteries run by charities and non-profits.
Some stats provided by the Gambling Commission appear to back up their claims that deposited by credit card are harmful for problem gamblers. An estimated 24 million people in the UK gamble, with 10.5 million of them gambling online.
From those who use credit cards to fund their online gambling accounts, 22 percent are classified as problem gamblers.
For those online poker players in the UK that are used to funding their online bankroll with their credit card there are several other funding options depending on your preferred poker room.
A few of those options include Skrill, Neteller, and Webmoney. Many online poker rooms also allow deposits and withdrawals using cryptocurrency.