Time is running out for UK gambling industry operators to make submissions on credit card gambling.
The UK Gambling Commission (UKGC) launched a review of credit card gambling in February this year. This drew comments from 110 stakeholders, including gambling companies and charities.
In response, the UKGC decided to hold a new consultation in order to get more specific views on the way forward. They launched this consultation in August and it will end on November 6.
Credit Cards Gambling Ban
Last month the UKGC praised the industry for changes it had made. However, they are keen to improve the sector’s image at a time of often negative headlines.
The UKGC has asked stakeholders to send in evidence on the subject of a complete or partial ban on the use of credit cards in online gambling. According to the UKGC, the favoured option for those who responded to the first consultation was for a total ban. This follows comments by several political figures, including Tom Watson. Last year, the Labour Party Deputy Leader called for the industry to outlaw credit card betting.
The UKGC says it wants to hear from e-wallet companies. Operators are concerned that when customers use e-wallet methods, it is hard to know the original source of funds. This therefore makes it harder to comply with a credit card deposit ban.
The consultation ends on November 6. The UKGC will then decide on new rules for credit cards, which will be enacted by April 2020. Betting companies will hope for a partial rather than a total ban, but a complete ban seems more likely at this stage.