UKGC to consider ban on Credit Card betting

[Retired IncomeNetwork Rep]

The regulator said on Monday 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.

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[dunover]

Yeah, this has been mooted for a while.

Pointless.

You can fund webwallets with credit cards.
You can get cash advances on them and transfer them to your bank account.
Or cash from ATM and pay it in through the wall.

All this does it prevent in reality direct deposits unless there's more detail to it (I haven't the time to check it all out).

 

[Retired IncomeNetwork Rep]

You can fund webwallets with credit cards.
You can get cash advances on them and transfer them to your bank account.
Or cash from ATM and pay it in through the wall.

This was my first initial thought as well. Although it wouldn't surprise me if they then requested that players had to prove where funds came from if paying by web wallets etc.

I can imagine the next port of call will be for operators to carry out strict Credit Checks on players similar to when applying for a loan etc.

 

[geordiecolin]

This was my first initial thought as well. Although it wouldn't surprise me if they then requested that players had to prove where funds came from if paying by web wallets etc.

I can imagine the next port of call will be for operators to carry out strict Credit Checks on players similar to when applying for a loan etc.

I can see it making a big difference on impulsive gambling which must make up a fair amount of the total income of most casinos.If so then we may see a large amount of casinos turn their backs on the UK market- IF it was ever implimented

 

[nutnut]

So it should be, no one should be allowed to use a credit card for gambling.

 

[Retired IncomeNetwork Rep]

I can see it making a big difference on impulsive gambling which must make up a fair amount of the total income of most casinos.If so then we may see a large amount of casinos turn their backs on the UK market

Anyone would think that was their plan all along!

 

[nutnut]

I think what is happening is the gravy train from profiting from addicts is going to be over soon.

KYC checks
Income checks
Banning credit cards
Banning adverts

All this means is less profit for casinos and affiliates who are the ones who directly profit off players. No non addicts would ever use a credit card to fund gambling anyway. As long as we can still gamble freely I've no issues with these strict rules, but when it starts affecting the general peoples ability to gamble because of addicts then I have a issue.

 

[geordiecolin]

Anyone would think that was their plan all along!

You are not suggesting the the UKGC/Government want to have more tax control over fewer UK facing casinos are you?

 

[Retired IncomeNetwork Rep]

You are not suggesting the the UKGC/Government want to have more tax control over fewer UK facing casinos are you?

Who me?

Never!!

 

[colinsunderland]

Yeah, this has been mooted for a while.

Pointless.

You can fund webwallets with credit cards.
You can get cash advances on them and transfer them to your bank account.
Or cash from ATM and pay it in through the wall.

All this does it prevent in reality direct deposits unless there's more detail to it (I haven't the time to check it all out).

Skrill ask if it is for gambling or not, not sure about the other wallets.
Not that many do cash advances
Cash from an ATM then pay it back in stops impulsive deposits.

So not that pointless. It's a good thing, people shouldn't gamble on credit cards.

 

[bowki]

No non addicts would ever use a credit card to fund gambling anyway.

I disagree with you on that. I started using my Visa when it became more and more common to ban skrill and NETELLER for a bonus.

Its easy, fast and I have to pay zero fees for deposits or withdrawals. Money is available the next day and I can spend it or cash it out at every ATM in the world for free.

So it’s very comfortable for me to use it.

 

[brianmon]

I disagree with you on that. I started using my Visa when it became more and more common to ban skrill and NETELLER for a bonus.

Its easy, fast and I have to pay zero fees for deposits or withdrawals. Money is available the next day and I can spend it or cash it out at every ATM in the world for free.

So it’s very comfortable for me to use it.

Is that a Visa Debit or Visa Credit card though?
Payments back to a credit card, aren't usually available until the next accounting period, although they do show on the balance

 

[bowki]

Credit. Usually when I withdraw the money is available at midnight the next day.

Maybe it’s different in every country?

 

[dionysus]

do you guys not have prepaid CCs - what the value is is what you can spend, no more

is this to impact only personal CCs?

 

[lockinlove]

It will stop alot of impulse deposits that's for sure. It's not as easy as some are stating to just go and deposit in an ewallet with a credit card. A lot of them block it and block some entire countries. It will not stop a problem gambler who is persistent and has time to waste, like cash advances and buy prepaid vouchers with them.

Sometimes we get caught up playing and having fun, or trying claim bonuses when they are available and when all is said and done and you lost more than you wanted, it sucks. It can happen.

Credit card companies do prey on people too. Increasing your credit limit til suddenly you have a 20k limit..bad news for a problem gambler.

A lot of people gamble with the intention of winning so when they convince themselves hey I can make a few more deposits I have room on my credit card..well thats how things go bad and suddenly you are sitting there wondering what happened.

Sure its not fair to people who use them responsibly but it's one of those things that someone else is ruining the party for others.

It takes a moment of weakness to blow everything up.

I know a person who took out a line of credit worth $40,000 who has a wife, kids and mortgage all because he believed $20 spins on bonanza would be a good payoff. He never had a problem before, he just got taken in by something dark. He quit and is paying it back so yeah a problem gambler or a person who wants to gamble will find a way. But averting impulse deposits wouldnt be a bad thing.

 

[brianmon]

Credit. Usually when I withdraw the money is available at midnight the next day.

Maybe it’s different in every country?

Or maybe just different for each card company.
Also, if I was to deposit at a casino using my credit card. I'd be charged a cash advance fee, by the card company (Not the casino) since they consider a casino deposit as cash, rather than a purchase
and also be charged a similar fee if i withdrew cash from an atm

 

[dionysus]

Sure its not fair to people who use them responsibly but it's one of those things that someone else is ruining the party for others.

My worry here would be, is that if it's implemented, casinos will remove the CC option altogether - so what about say, us Canadians that use prepaids....0 impulse worries here, you literally have to go out and buy one; it would be more headache going back out and buying another than simply spunking a larger load via e wallet or other means of deppo

 

[lockinlove]

My worry here would be, is that if it's implemented, casinos will remove the CC option altogether - so what about say, us Canadians that use prepaids....0 impulse worries here, you literally have to go out and buy one; it would be more headache going back out and buying another than simply spunking a larger load via e wallet or other means of deppo

I would think everything mastercard, visa, amex would be banned. The entire option for a credit method wouldnt exist.

We can use paysafe here. Not all casinos accept them. But I dont even know if this would apply to us since we arent under the UKGC

 

[dionysus]

I would think everything mastercard, visa, amex would be banned. The entire option for a credit method wouldnt exist.

We can use paysafe here. Not all casinos accept them. But I dont even know if this would apply to us since we arent under the UKGC

No wouldnt apply to us - id hate though that because one country mandated it, casinos remove the option altogether...probably not I guess
though we have seen instances where SOW seems to be leaking over, though not required for us

 

[dunover]

Skrill ask if it is for gambling or not, not sure about the other wallets.
Not that many do cash advances
Cash from an ATM then pay it back in stops impulsive deposits.

So not that pointless. It's a good thing, people shouldn't gamble on credit cards.

In theory, agreed - but we all know problem gamblers can be very artful and perceptive to any means imaginable which perpetuates their gambling.

 

[colinsunderland]

No wouldnt apply to us - id hate though that because one country mandated it, casinos remove the option altogether...probably not I guess
though we have seen instances where SOW seems to be leaking over, though not required for us

I think you will be safe. No casino is likely to remove a payment method that makes them a lot of money just because one country decides it can't be used

 

[geordiecolin]

I

In theory, agreed - but we all know problem gamblers can be very artful and perceptive to any means imaginable which perpetuates their gambling.

You are making the mistake of lumping all problem gamblers all in the same boat. They are not. Many problem gamblers are impulsive after they have reached the set amount they intended to lose. See the difference?

 

[trancemonkey]

This was my first initial thought as well. Although it wouldn't surprise me if they then requested that players had to prove where funds came from if paying by web wallets etc.

I can imagine the next port of call will be for operators to carry out strict Credit Checks on players similar to when applying for a loan etc.

Which would basically kill the industry stone dead... gambling searches on your credit rating... no mortgage for you.

 

[Bloatgoat]

Online gambling is extremely toxic anyway.

 

[keegannye]

If anything casinos prob wont mind as chargebacks will decrease more then likely...

 

[Slottery]

No wouldnt apply to us - id hate though that because one country mandated it, casinos remove the option altogether...probably not I guess
though we have seen instances where SOW seems to be leaking over, though not required for us

Not really true, by MGA rulings SOW need to be collected if you are categorized medium/high-risk player (like in UKGC, some casinos just are for some reason using your lifetime threshold as been spoken here in many topics, think still waiting reply to that one topic from Guts where player got freespins with no deposit but was triggered for SOW, when making withdrawal but we havent hear lot from them....).

All these SOW requests should be based on risk analysis completed by casino, AFAIK player who plays 50€ monthly for 10 years with no changes to deposit or playing pattern (also some other measurement in there which can make you higher risk player like your game play, payment methods etc....) should mandatorily need to be requested SOW.

Page 27 have quite clear and simple picture, also from page 34 there are some simple examples about risk factors. It is about casino how they want to operate, as earlier somebody posted UKGC ruling, it is quite similar. Just taking an easy way out and be over scared is use some fixed lifetime amounts but that 2000€.

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I happily stand corrected if i am wrong, but also MGA licensed casinos are required to complete risk analysis and requested SOW if they think it is needed (sorry, didnt mean to make it to SOW again, just point out that if you play under MGA licensed casino, you can be requested it, only way to get rid of it are probably some Curacao etc... licensed casinos)

 

[dionysus]

edit, error

 

[Ben2020Star]

Hi Folks, newbie here....I have an Irish credit card.....anyone know if I will be still able to use it with my paddypower account? I am living in North UK

Ta

 

[Davey86]

Hi Folks, newbie here....I have an Irish credit card.....anyone know if I will be still able to use it with my paddypower account? I am living in North UK

Ta

you won’t be able to deposit if your playing in the U.K.? I’m assuming regardless of where your card is from

 

[Ben2020Star]

Hiya, my residental address is UK but I use my Irish credit card on PP - am wondering will they stop that? as in can UK residents use international credit cards to deposit with or is it only UK cards that are banned?

 

[Davey86]

Hiya, my residental address is UK but I use my Irish credit card on PP - am wondering will they stop that? as in can UK residents use international credit cards to deposit with or is it only UK cards that are banned?

All credit cards have a unique transaction number so when you go to deposit it will be denied as your living in the U.K. playing under the ukgc license

 

[Fredos386]

I often wonder what the casinos CEO's are thinking really. I mean they push players into going credit card, they want them to get loads of debts. Of course they get a one time lump sum that is bigger than usual and they are happy but then the players have to pay interests and fees on these cards... money they won't have to gamble. So many decisions they take have a instant reward but with a medium/long term impact that is multiple times worst than the benefit. I could go on for hours explaining how about everything they do is the worst idea possible but it would be a waste of time. To me it just look like a person that is a bit retarded that thinks he got genius ideas all the time while in fact he's shooting himself in the foot.

A little example to explain my point, it's like if a restaurant owner is struggling and going bankrupt and decides to raise prices and lower the food quantity/quality. So not only he had not enough customers but now he will have en less... rip. The solution when you are in that spot is to go all in. Big promotion, big deals that will use all the remaining in a last attempt at saving the day, that can work pretty well while the other option is a guaranteed bankruptcy.

The funniest/dumbest company decision i knwo of is caddell group that bonus ban players that get a big win on bonus. So the players win huge and are bonsu banned so they go lose the money elsewhere... that's just plain .... who hire these people? lol.

 

[pinnit2014]

How does a casino push players into going into credit cards? Certainly never seen an offer of 'deposit 10 with Mastercard, get 20' etc to do so.

If you're talking about the indirect pushing via getting in debt, well that's on the player - and that's from someone here who was guilty of it in the past, been there done it, learned a harsh financial lesson - but twas all my own doing, not the casino.