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Earlier this week the UK gambling commission made announced they will be considering whether not to ban gambling with a credit card.We’re wondering will this lead to safer gambling or is this a way to control what people do with their finances? Please let us know your thoughts on this matter, we would love to know what you think.
Gambling on Credit Cards
The regulator said on Monday that gambling on credit cards “increases the risk that consumers will gamble more than they can afford” and it would “consider prohibiting or restricting the use of credit cards” in order to protect gamblers from racking up huge debts that they cannot pay.The announcement that the Gambling Commission would consider banning betting on credit was included in the regulator’s report into how to make online gambling safer.Marc Etches, the chief executive of GambleAware, said: “Being able to use a credit card significantly increases the risk of gambling more than you can afford, so a ban on credit cards online could be hugely beneficial in protecting the vulnerable.”
Who are the Gambling Commission
The Gambling Commission was set up under the Gambling Act 2005 to regulate commercial gambling in Great Britain in partnership with licensing authorities. They also regulate the National Lottery under the National Lottery etc. Act 1993. They are an independent governing body in place to ensure regulations are met by gambling companies conducting in the UK.