UK Gambling Commission May Ban Gamblers From Using Credit Cards
The UK Gambling Commission has announced that it will be holding a 12-week consultation which could result in the ban on the use of credit cards at online casinos.
In a statement on the Gambling Commission's website, the regulator said the consultation analyse all evidence before considering one of two different options; an outright ban on credit cards or a restriction on how credit cards can be used at online casinos.
The announcement comes after the Commission launched its call for evidence back in February which highlighted several issues the consultation will look into before making a final decision on the matter.
One of the issues involved alternate forms of borrowing as the Commission believes that an outright ban could cause punters to turn to loans or overdrafts to fund their gambling. Other issues the Commission will look into include the links between e-Wallets and credit cards and an investigation into why so many customers enjoy using credit cards at online casinos.
Finding Alternative Payment Options
Many players enjoy using credit cards at online casinos because they offer excellent protection and allow users to deposit and play with as much as they want as long as they can pay the money back. However, this may lead to dangerous behaviour as users can quickly overspend. If they then do not have the required funds to pay the credit card back they can quickly end up in debt.
The dangers clearly outweigh the benefits, which is one of the reasons the Commission is looking into banning credit cards. If a ban is implemented, users will be required to find new payment methods to use at online casinos. Luckily enough, there are additional payment options than just debit and credit cards at online casinos.
In fact, new casino sites generally accept a wide variety of payment options which allows users to choose the payment option that suits them. Right now, some of the most popular payment methods at online casinos include:
E-Wallets: E-Wallets such as PayPal, Skrill and Neteller have become increasingly popular. Users can fund their e-Wallets and then use the money to deposit at an online casino. E-Wallets offer instant payouts when withdrawing but most online casinos restrict players from claiming bonuses with them.
Paysafecard: Paysafecard is a pre-paid card users can purchase to make payments online, including deposits at online casinos. Pre-paid cards are popular because users are not required to share any financial details but one downside to this payment option is that you cannot withdraw back to the card and once used it must be topped up.
PayByMobile/Boku: PayByMobile is a new payment option which allows users to deposit at online casinos through their phone. Users on a monthly contract can add the deposit to their monthly bill while users on pay-as-you-go can deduct the deposit from their credit. However, this method cannot be used for withdrawals.
Meanwhile, some new casino sites have begun accepting payments via Bitcoin and some sites in Europe have launched special payment options which allow users to deposit without having to register at the site. All of the payment options listed above offer excellent customer protection, provide fast deposits and in the case of e-Wallets, offer fast payouts. They're much safer to use than credit cards.