Credit card betting banned in Britain to protect people from 'financial harm'

Betting with a credit card will no longer be allowed in Britain, with the ban on using them coming into force on Tuesday.

Industry regulator the Gambling Commission and the Department for Digital, Culture, Media and Sport announced the ban in January, with the commission claiming the move would protect customers from financial harm. The ban extends to credit-card gambling through e-wallets such as PayPal.

The removal of credit cards as a betting option will deal another financial blow to gambling operators, with William Hill revealing in February they would lower adjusted annual operating profit by £5 million-£10m, while Paddy Power Betfair's parent company Flutter Entertainment said a ban would reduce core profits by £14m-£17m a year.

The commission said statistics showed 800,000 individuals in the UK use credit cards to gamble. Research had found that 22 per cent of online gamblers using credit cards were problem gamblers, with a higher number suffering some form of gambling harm.

Gambling Commission chief executive Neil McArthur

Gambling Commission chief executive Neil McArthur said: "This credit card ban will further protect consumers from financial harm and from today [Tuesday], nobody in Great Britain can use a credit card to gamble. It is a ban which ultimately reduces the risks of harm to consumers from gambling with money they do not have.

"The ban also comes at a vital time as we are seeing an increase in the use of some online products, such as online slots and virtual sports, and our online search analysis shows an increase in UK consumer interest in gambling products since the lockdown began.

"This highlights just how important it is for gambling operators to keep people safe and the credit card ban will help that. This is another milestone and we will continue to look for ways to make gambling safer."

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