UK Gambling Commission seeks to prohibit the use of credit cards for gambling
As the Netherlands is preparing to open up of its online gambling market, market regulation in other countries has already proven to be very successful. We often report on news concerning the UK regulator. For example, when they imposed a fine of £2 million on 32Red or when the Rank Group was fined £500,000. Now the UK Gambling Commission is planning to ban the use of credit cards when it comes to gambling.
A comprehensive consultation
Currently, the UK regulator is examining various ways in which player risk can be reduced, to diminish the potential damage caused by online gambling or category B gaming machines. Through consultation, the operators and all other stakeholders in the industry are trying to come up with ways to make gambling as safe as possible for players.
The British Gambling Commission has already decided that players must not play with money that they do not have. Gambling with borrowed money is still very popular, but is considered a high risk factor. The regulator is now considering recommendations and suggestions to find out whether restricting or completely banning the use of credit cards for gambling makes sense and can limit risks.