Gambling Commission to hold 12-week study on credit card use
After its recent call for evidence on the issue of gambling online with credit cards, the Gambling Commission has confirmed it will commence a 12-week consultation in mid-August.
One possibility it will look into is banning the use of credit cards for online gambling altogether.
It will also investigate the effects of restricting their use while consulting both the public and stakeholders.
The Commission said its call for evidence, launched in February, highlighted several key interest points.
E-wallets could also pose a risk if credit cards are banned, according to the regulator. With e-wallets, operators have no way of knowing which method the payment originated from.
Any future proposals would require e-wallet brands to support regulatory measures and work with operators to ensure the transaction can be traced.
The Commission said it needs more information on why players choose to gamble with credit cards in the first place. Its original request for information did little to answer this question.
When forming its ruling, the Gambling Commission stressed it must take into account the impact of a ban or restriction on players who are not experiencing gambling harms.
Paul Hope, Executive Director of the Gambling Commission, said: “Gambling with borrowed money is known to be a risk factor for consumers, so we think there is a need for action.
“This consultation will help us decide what that action should be.”
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