UKGC confirmed credit card gambling ban from April 2020

20 Jan 2020

ukgc-credit-card-banThe UK Gambling Commission has announced that it will ban the use of credit cards on all gambling activities taking place in Great Britain from 14 April 2020 onwards. It has been decided that this measure will be implemented following a public consultation on this issue, that took place between August and November 2019.

Estimates show that among the 24 million active gamblers in Britain, 800,000 of them use credit cards in order to fund their accounts. UKGC conducted a research indicating that 22% of those using credit cards in order to gamble online, are considered problem gamblers.

According to the Gambling Commission’s CEO, Neil McArthur, credit card gambling may lead to serious financial harm. Thus, he stated that the ban they have announced is projected to minimise the risks of harm to individuals from gambling with money that they do not have.

Furthermore, he argued that there are several bettors who have gathered tens of thousands of pounds of debt through gambling, all due to credit card availability. He also added that there is evidence that the fees that are being charged by credit cards can worsen the situation, due to the fact that punters may chase their losses to a greater extent.

Nevertheless, he pointed out that the UKGC is aware of players who gamble responsibly with the use of a credit card, implying that the regulator is planning to evaluate the measure regarding this matter.

It is worth mentioning that the share prices of big UK operators have fallen significantly, since the day that it was first reported that the ban will take effect in three months from now. More specifically, the share value of GVC Holdings has dropped from £9.42 to £9.14; while Flutter Entertainment’s share price has dropped from £94 to £91.94. At the same time, William Hill’s shares decreased from £1.94 to £1.83.

It is also worth noting that the decision taken by the UKGC to ban credit card gambling has made an impact all across Europe and the Spanish authorities seem ready to follow its example.

A positive development is that the impending ban will open up the UK gambling market to innovative mobile payment solutions like Boku and Zimpler.

Join and grab exclusive bonuses, daily offers and free bets!

Lay hands on exclusive daily bonuses for members only. These promos are limited and are not advertised on the website.

Yes, I have read the Terms & Conditions and I consent to receiving emails from Bookmakers.bet regarding betting promotions, betting guides and news.

BOOK SPY

The Swedish online gambling company, Betsson Group, announced that it has extended its cooperation with Gaming Innovation Group (GiG) regarding its au...

Read more »

Southampton Football Club has announced Parimatch as its official betting partner for the 2021/22 Premier League season. The bookmaker was launched in...

Read more »

The global online payment provider AstroPay, which is really popular among bettors, has announced a sponsorship deal with Newcastle United Football Cl...

Read more »

UEFA and Bwin confirmed their partnership and the Entain-owned bookmaker became the official partner of UEFA’s Europa League and Europa Conference Lea...

Read more »

The United Kingdom Gambling Commission has announced that Bill Moyes’ five-year term as Chairman comes to end this year and the new chairman will be M...

Read more »

The EFL Championship team West Bromwich Albion F.C. and LV BET announced a new partnership for the season 21/22. As a part of this deal LV BET will ru...

Read more »

Quinnbet and AFC Bournemouth have made an agreement until the end of the season and the popular bookmaker will be the club’s official betting partner ...

Read more »

With H1 2021 already over, Entain reports a revenue of £1.77bn. That is a 12.2% growth, despite a 34% drop in revenue from Germany, because of the cou...

Read more »

The renowned bookmaker, Parimatch has signed a deal with one of the world’s most famous clubs, Chelsea FC. The deal will run for three seasons; from t...

Read more »

The Italian Football Federation (FIGC) calls for the temporary suspension of the country’s betting sponsorship and advertising ban in order to allow t...

Read more »

LIST OF TOP BOOKMAKERS
22bet
  • 1.000+ live events daily
  • 95% payout on top leagues
  • Cashout
100% up to €122
1xBet
  • 1.000 live matches daily
  • Asian Handicap
  • 50+ sports
  • Code:BOOKSPY
100% up to €130
Sportaza
  • Few country restrictions
  • 35+ sports
  • High odds on secondary bets
  • Code:BOOKMAKERSBET
100% up to $100
20Bet
  • More than 1,000 live events/day
  • 150+ markets in football
  • 40,000+ events/month
100% up to €100
CyberBet
  • More than 15 sports
  • Alternative handicaps in basketball
  • 30+ live tennis markets
  • Code:BOOKMAKERSBET
100% up to $250
Anonymbet
  • Few country restrictions
  • 30+ sports
  • Asian Handicaps
  • Code:bookmakers
120% up to $100
Rabona
  • 20.000+ live events per month
  • 95%+ on Top 5 leagues and NBA
  • Alternative handicaps on basketball
150% up to €150
Zodiacbet
  • 30+ sports
  • Asian Handicaps
  • Card and Corner bets
  • Code:ZB100S
100% up to €100
LeoVegas Sports
  • High average payout of 95% +
  • Best odds guaranteed on UK & Irish horse races
  • Live streaming feature
High Odds
Mr Sloty Sports
  • Few country restrictions
  • 30+ sports
  • Multiview Feature
  • Code:WSPORT501
50% up to $100
Royal Oak Sports
  • Few country restrictions
  • 30+ sports
  • Asian Handicaps
  • Code:WELCOMESPORTS
100% up to $100
Mystake
  • Few country restrictions
  • 1,000+ pre match events daily
  • 400+ football markets
100% up to $500
Wallacebet
  • Few country restrictions
  • 30+ sports
  • Card & Corner Bets
  • Code:BMSB180WB
100% up to €180
Librabet
  • 35+ sports
  • Cards & Corners
  • 20+ Payment Options
100% up to €250
Leonbets
  • Few country restrictions
  • 15+ years of experience
  • Fast Markets
VIP Rewards
LATEST BOOKMAKER PROMOTIONS