3 banking options to consider if the UKGC bans credit cards

Published by CasinoTopsOnline on April 11, 2018 in Industry News, Casino Tips

UKGC credit card banIn the recent review of the online gambling industry as a whole, the UK Gambling Commission has announced that it may put a stop to the use of credit cards at online casinos.

For many who frequent online casinos, as the industry expands and grows on a daily basis, this would be a huge inconvenience. However, the UKGC feels that by credit cards being a payment option available, it may encourage users to spend cash they don’t have at hand.

The Gambling Commission has been intent on creating a safer space in the iGaming industry and this may just be the next step in that direction.

Are credit cards risky?

While it’s common knowledge that setting a deposit and betting limit is essential when playing at any online casino, the UKGC believes that credit cards can be risky.

One of the most common problems with credit cards being used at online casinos is that children can easily access these funds. With only a few numbers on a card, children could deposit and play via their parent’s account which is obviously an issue that must be dealt with.

There are many reasons to consider banning credit cards including easy access to payday loans, overdraft facilities, and of course, using funds that are simply not meant for gambling.

The Gambling Commission Chief Executive, Neil McArthur, commented on the potential ban, saying: "The proposals we have announced today are intended to protect children better, reduce the risks to vulnerable consumers and build on the measures we already impose on operators to know their customers and intervene at an earlier stage before consumers experience harm."

Banking Options at Online Casinos

If the UKGC bans credit cards for use at online casino entirely, there are many third-party options to choose from. Besides the top-rated options listed below, you can also make use of debit cards, bank transfers, and many other methods at most online casinos.

Here are 3 top-rated options for you to consider:

  • NETELLER – Available across 200 countries around the world, NETELLER is one of the largest and most popular payment services. Established in 1999, NETELLER has put their long history of customer satisfaction to good use. Operate by Paysafe Financial Services Limited, millions of customers make use of NETELLER on a daily basis.
  • Skrill – Using only an email address and a secure password, you can put Skrill to work for you and your money. Available online since 2001, Skrill has fine tuned their services to allow for safe transactions, simple use, and happy customers around the world.
  • EcoPayz – A global payment solution available at many top online casinos, ecoPayz is safe, instant, and extremely convenient. Access your cash wherever you find yourself via their iPhone app. You can also add 2-step verification to your account for extra security.

Top Tip: If you’re searching for a recommended online casino that provides the best casino games and bonuses, take a look at our top 10 list of online casinos!