UK credit card gambling ban deemed a positive measure

13 Apr 2020

uk-credit-card-gambling-banIn January the United Kingdom Gambling Commission announced that all players residing in Britain will be banned from using credit cards for gambling. According to UKGC’s stats, 22% of the 800,000 who use credit cards to gamble are considered problem gamblers. The ban will come into effect on the 14th of April and according to the Board Member of PXP Financial, Kamran Hedjri, it is a positive measure.

Nevertheless, he believes that the general impact of the ban is a bit limited, due to the fact that other payment methods are more popular among players. More specifically, according to a research made by PXP Financial into the payment habits of different generations, 55% of those asked believe that the ban will have a long-term negative effect on the industry.

The research was focused on those born from 1997 onwards, on the Millenials (i.e. those born between 1981 and 1995) and on Generation X (i.e. those born between 1965 and 1980). Its results showed that 59% of Generation X gamblers use credit cards, while only 49% of the Millennial gamblers use them as their main payment method.

It is worth noting that, in total, 67% of Generation X gamblers argued that the credit card ban will have a negative impact on the industry. It is also worth noting that, 45% of all respondents across the generations said that they use debit cards as their main deposit method for gambling; whilst 53% use various payment methods.

Consequently, Hedjri characterized the credit card ban overrated, as most of the cards that are being used for gambling purposes are debit cards and only a small amount are actually credit cards. Furthermore, he argued that players will divert to other payments, such as bank transfer and e-wallets. However, he stated that, overall, the ban is a good move for the industry and nobody should bet on credit.

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 crypto sports betting platform, Stake.com, marks Watford’s return to the Premier League by signing a new multi-year sponsorship. The book...

Read more »

Formula 1 strikes a deal with PokerStars Sports, making the well-known bookmaker its official sports betting partner in Europe. The deal was arranged ...

Read more »

Τhe Verkhovna Rada, Ukraine’s unicameral parliament, saw 252 of its members voting in favor of the bill 2713-D, that intends to lower taxes for those ...

Read more »

President Uhuru Kenyatta boosted the Kenyan betting market by lowering the tax which applies to players’ winnings to 7.5%. Securing its presidential a...

Read more »

For the next three years the online bookmaker Vbet will be the new title sponsor of the Ukrainian Premier League (UPL). The renowned sportsbook will a...

Read more »

As of today, July 1, 2021, the long-awaited German law allowing online gambling all over the country finally comes into effect. Even before fully open...

Read more »

NetBet Enterprises has been awarded sports betting and online casino licenses in Greece by the Hellenic Gaming Commission (HGC) in order to continue i...

Read more »

The renowned sportsbook Pinnacle announced that it will offer a $500,000 betting limit to its players for the Euro 2020. The bookmaker is focused on o...

Read more »

The French gaming regulator the Autorité Nationale des Jeux (ANJ) has conducted a research showing that 31% of French football fans are placing their ...

Read more »

The online sportsbook ComeOn has signed a partnership with the Canadian Premier League (CPL) to become its official sports betting and online casino p...

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
Stake.com
  • 95% overall live betting payout
  • 500,000 pre-match events/year
  • 100+ extra bets on top footy events
200% up to $1000
Rabona
  • 20.000+ live events per month
  • 95%+ on Top 5 leagues and NBA
  • Alternative handicaps on basketball
150% up to €150
888sport
  • 10.000 live events per month
  • 40+ sports
  • Bet Builder
  • Code:30FB
€30 Free Bets
Zodiacbet
  • 30+ sports
  • Asian Handicaps
  • Card and Corner bets
  • Code:ZB100S
100% up to €100
20Bet
  • More than 1,000 live events/day
  • 150+ markets in football
  • 40,000+ events/month
100% up to €100
Librabet
  • High odds on football
  • Huge variety of betting markets
  • Intriguing welcome bonus
100% up to €250
Royal Oak Sports
  • Few country restrictions
  • 30+ sports
  • Asian Handicaps
  • Code:WELCOMESPORTS
100% up to $100
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
Mystake
  • Few country restrictions
  • 1,000+ pre match events daily
  • 400+ football markets
100% up to $500
Unibet
  • 250.000+ pre-match events/year
  • 10.000+ live events monthly
  • 96%+ on Asian Handicaps
100% up to €50
Bwin
  • 50+ sports
  • Cards & Corners
  • Edit my bet
High Odds
FEZbet
  • Cashout
  • Next Minute bets
  • Fast Markets
150% up to €100
LATEST BOOKMAKER PROMOTIONS