UK Gambling Commission considers ban on Credit Card Gambling

Published by Daniel on July 31, 2019 in Industry News

Possible Credit Card Online Gambling BanOver the past few years, there have been many changes and improvements in the online gambling industry.  

With the rapid increase in popularity of online gambling, the number of problem gamblers has also increased.  

In an attempt to curb the increased growth of problem gambling new measures are sought to stop and prevent it.  

A possible ban on credit card betting 

The UK Gambling Commission has recently announced that they will be conducting a study starting in August on whether or not the use of Credit Cards should be permitted for online gambling.

The study is said to run for a period of 12 weeks during which the UK Gambling Commission will look into many different ways to keep players from betting with borrowed money. This will be the second move the regulator has made related to credit card use. The first attempt did not provide the results required or give much insight on how to tackle the issue.  

It is possible for the UK Gambling Commission to straight out ban gambling with credit cards but they are looking at other options before taking drastic measures.  

The online gambling market is widespread through the United Kingdom and while it has its benefits the growing number of gambling addiction is becoming a massive concern. The UK Gambling Commission has been working to find ways to lessen gambling addiction in the country and has managed for the reduction of FOBT max bets from £100 to £2. 

The study will start in the new month and will keep you up to date with the latest results and news on the subject throughout the study period.  

Online gambling is supposed to be fun and while it can bring in big fortunes it should never turn into anything more than a fun pastime.  

Tips for responsible gambling 

Here are some tips to keep you playing for fun and prevent possible gambling addictions.  

Have the right mind-set 

Before you start playing at an online casino adopt the right attitude. Remember that gambling is all about fun and games and nothing more than entertainment. It is not a way to make money, the wins are a nice bonus, not the end goal.  

Set Money Limits 

Before you start playing give yourself a limit of how much you are willing to spend or lose for the day. It’s very easy to lose yourself in the moment so be sure to set limits on how much you want to spend beforehand and stick to the limit. Many online casinos have safety features that enable you to set a loss limit before you start playing. Use this function, to help you stick to your money limit in case you want to overspend and forget your money limit.  

Set a Time Limit 

Like with all other forms of entertainment it’s very easy to get lost in the fun and lose track of time. Before you start playing decide how much time you are willing to spend playing the games and stick to it. Set a time and once it goes off, log out of your account and step away from the computer or mobile device.  

Never chase your Losses 

One thing even the big league players will tell you is that you should never chase your losses. If you’re suffering bad losses for the day it’s best to quit and take a break for a while. The worst thing you can do is to keep playing to “win back your losses”. This will only lead to addiction and bigger losses.  

Don’t play with money you don’t have 

The most important thing to remember is to never play with money you do not own. Losing your own money is a risk every gambler takes but making debt or borrowing from friends or family is a clear warning sign of gambling addiction.