UKGC Introduces Loan Rates Ban

UK gambling regulator said the ban on credit cards, which will take effect today, April 14, will add another important layer of consumer protection. This means that from April 14, no consumer will be able to use a credit card as payment for gambling through e-wallets.

The UK Gambling Commission says this is an important step forward in protecting the 10.5 million people who gamble online from harm. Statistics show 800,000 people in the UK gamble with credit cards. The study also highlights that 22% of online gamblers using credit cards are problem gamblers.

The Commission also reminded operators that they can only accept customer payments through e-wallets if those e-wallets do not allow credit cards to be used for gambling.

Neil MacArthur, Executive Director of the UK Gambling Commission, said: “This ban on credit cards will further protect consumers from financial damage and no one in the UK will be able to use credit cards for gambling from today. This is a prohibition that ultimately reduces the risk of harm to consumers from gambling with money they don’t have. The ban also comes at a vital moment as we see an increase in the use of some online products such as online slots and virtual sports, and our analysis of internet searches shows an increase in UK consumer interest in gambling products since the quarantine. “

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