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 renowned e-wallet Skrill has a new brand ambassador, Paulo Dybala. The Juventus player signed a two-year partnership with Skrill as a representati...

Read more »

Swedish online gambling operator Betsson initiates an expansion in Mexico which will be facilitated in partnership with Big Bola casinos. This will la...

Read more »

The renowned bookmaker Parimatch, has announced the creation of a new supervisory board with CEO Sergey Portnov leaving his post and becoming chairman...

Read more »

The United Kingdom Gambling Commission expects that a new inserted three-year programme will be the beginning of a better and more regulated market, w...

Read more »

The leading sports betting company Entain, extends the amount of international regulated markets in which it operates by 30% during the past year, by ...

Read more »

Online betting operator 888sport, has come to terms with League of Ireland Premier Division football club Shamrock Rovers regarding a new sponsorship ...

Read more »

Premier League team owners arranged a meeting on March 25 to discuss potential partnerships between their clubs and bookmakers. The main goal of the m...

Read more »

The Danish gambling regulator, Spillemyndigheden, has gotten approval from the City Court to block an extensive list of betting sites. Specifically, i...

Read more »

The official sponsor of Juventus, Parimatch, has launched a new video as part of its cross-marketing campaign. The video will feature Juventus famous ...

Read more »

The chief executive of the UKGC, Neil McArthur, announced that he has resigned from his position. His 15 year tenure came to an end with immediate eff...

Read more »

LIST OF TOP BOOKMAKERS
22bet
  • 1.000+ live events daily
  • 95% payout on top leagues
  • Cashout
100% up to €122
888sport
  • 10.000 live events per month
  • 40+ sports
  • Bet Builder
  • Code:30FB
€30 Free Bets
1xBet
  • 1.000 live matches daily
  • Asian Handicap
  • 50+ sports
  • Code:BOOKSPY
100% up to €130
Bwin
  • 50+ sports
  • Cards & Corners
  • Edit my bet
High Odds
Mr Play Sports
  • 10.000 pre-match events per month
  • 35+ sports
  • 140+ extra bets
High Odds
20Bet
  • More than 1,000 live events/day
  • 150+ markets in football
  • 40,000+ events/month
100% up to €100
Rabona
  • 20.000+ live events per month
  • 95%+ on Top 5 leagues and NBA
  • Alternative handicaps on basketball
100% up to €100
SlotsNBets
  • 94% payout in top football leagues
  • Competitive in-play odds
  • Multiple tennis events
  • Code:bookmakers
120% up to €100
CyberBet
  • More than 15 sports
  • Alternative handicaps in basketball
  • 30+ live tennis markets
  • Code:BOOKMAKERSBET
100% up to $250
Bet365
  • Ideal for football lovers
  • 150+ extra bets on top leagues
  • Multiple Asian handicap markets
€25 Bet Credits
Rolletto
  • 95%+ on tennis
  • Alternative spreads on basketball
  • Asian View
120% up to €240
Unibet
  • 250.000+ pre-match events/year
  • 10.000+ live events monthly
  • 96%+ on Asian Handicaps
€25 Welcome Bonus
Zodiacbet
  • 30+ sports
  • Asian Handicaps
  • Card and Corner bets
  • Code:ZB100S
100% up to €100
Betfair
  • The largest and the most reliable betting exchange in the world
  • You can trade your bets
  • Wide range of markets
  • Code:ZSKABS
100% up to €20
Betinia
  • MGA license
  • 10,000+ events monthly
  • Asian Handicaps
100% up to €100
LATEST BOOKMAKER PROMOTIONS