A new UK Gambling Commission (UKGC) consultation could impact affiliates as the regulator considers restricting the use of credit cards for placing bets.
The 12-week consultation, which will commence in mid-August, seeks to gain an overview on whether restricting credit card use will effectively prevent customers from the risk posed.
By banning credit cards, affiliates may see a significant drop in the number of players signing up to particular gambling and casino sites, which will subsequently result in a drop in traffic.
Paul Hope, Executive Director at the UKGC, commented on the upcoming consultation: “Gambling with borrowed money is known to be a risk factor for consumers, so we think there is a need for action. This consultation will help us decide what that action should be.”
Following on from a call for evidence, issued back in February of this year, the Commission is seeking to gain insight from both the industry and the general public on the impact of both potential restrictions, and an outright ban, could have on gambling.
A number of key points have been identified for the consultation, including alternative forms of borrowing and e-wallets. As part of the process, the UKGC also seeks to obtain further evidence regarding the motivations for using credit cards to gamble, and whether there are any specific benefits and risks of using them.
A statement uploaded to the regulator’s website earlier today added: “One approach would be to ban gambling online with credit cards. However, the public and all other stakeholders will be consulted on other options, including restricting the use of credit cards.
“The Commission will then take the most appropriate course of action in view of any evidence obtained by this consultation, alongside data already submitted.”
