Gambling with Credit Cards to be Banned for Online Betting
Online gambling is rising due to many people are facing the lockdown. The people during the lockdown and quarantine tend to play online gambling. As a result, the number of money betting and online gambling is rising. However, this condition leads to some problems. Commonly, people use their credit cards to involve online gambling. However, the players don’t realize that they have a lot of debts due to their activity in online gambling. It makes some players are unable to pay the debt. And, it creates more problems in online gambling. This condition leads the order of gambling with credit cards to be banned for online betting.
The Reason of the Credit Cards Banned for Online Gambling
As mentioned previously that online gambling with a credit card is a bad choice. Some players don’t even realize that they are trapped with the losses. A guy in the UK has been carried out with the debt since he put his credit card in online gambling. He needs to pay the debt for about 8 – 10 years. It is caused by the fact that he has lost once and started to continue a higher amount of money. This is a bad effect of online gambling by using a credit card.
On the other hand, according to the Gambling Commission, there is a significant number of players who are classified as a problematic player. Those players often have a huge amount of debt. It indicates that credit card gambling can be financial harm to the player. In order to reduce this problem, the government makes a new rule of gambling with credit cards to be banned for online betting.
This new rule has been applied since April 2020. This new rule will make sure that all of the players cannot use their credit cards to put some money into online gambling. In addition, the ban on credit cards in online betting can protect the financial condition of the player. So, the player will not face a great amount of money lost.
In order to support the new rule of credit card banned in online gambling, the government will create the supporting rules so that the credit card banned in online gambling can be applied strictly. For example, the United Kingdom Government has set some supporting rules for the credit card banned in online gambling. The first supporting rule is that all of the gambling sites in the UK should provide the service that all of the players have a limited amount of money in the gambling games. It can prevent the players from betting such a huge amount of money without limitation.
The UK’s government also has a cooperation with Twitter to allow the limitation of a gambling site in their timeline. So, the player will not see a lot of advertisements for gambling games in their timeline. The government also creates a new service called GAMSTOP and monitors the unlicensed non-UK gambling sites.