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“People are to be banned from using credit cards to place bets, in an attempt to curb problem gambling, the Gambling Commission has said.
The ban, which starts on 14 April, comes after reviews of the industry by the commission and the government.
A total of 24 million adults in Britain gamble, with 10.5 million of those doing so online.
Separate commission research shows that 22% of online gamblers using credit cards are classed as problem gamblers.”
Long overdue it has been a ridiculous anomaly that credit cards can be used for gambling.
I accept some people do pay their credit card bills off in full every month but, by implication, most spending on credit cards is using money you don’t actually have – whilst useful for high value purchases, making such money available for gambling is inherently wrong.
Certainly welcome news, but until Credit card companies stop card holders withdrawing cash on them then it will make little difference. Granted there is a small fee, but if someone is messed up they will not care about that too much.
Pretty good news, but if you can spend your cash only on goods or other things that are of limited value, then I might prefer gambling.
In gambling 100 £ equals 100 £, in retail 100 £ rarely equals more than 50%-60%. Just think of spending 1000 £ on a new jacket which you couldn’t resell for more than 600 £ shortly afterwards. What I’m trying to say is that money spent on gambling represents more value than money spent on any goods.
Good. If bookmakers consider that their customers inconvenienced by the ban were betting responsibly and within their means using them previously they can open credit accounts for them. Simple.
Credit card companies treat bookmakers accounts as a cash transaction and charge interest accordingly.
I've stumbled on the side of twelve misty mountains
I've walked and I crawled on six crooked highwayssimonnott wrote:
If bookmakers consider that their customers inconvenienced by the ban were betting responsibly and within their means using them previously they can open credit accounts for themDo bookmakers still offer Credit Accounts?
I had upto fifteen, most of them opened during the ’80s, but haven’t used them since the Exchanges became mainstream. Presumably they’ve been closed due to dormancy but I haven’t had any notification
“Hello William Hill Action Line” – a voice that brightened up many a day
I always regarded credit betting as a pleasantly honourable method of wagering: ‘you win’ cheques sent on time every fortnight, ‘you lose’ settled by return of post
A common sense decision all round, which isn’t something you see too often.
I’ve known two friends who were caught up in this spiral, and it was very difficult to witness.
Shouldn’t this one be on the main forum along with Simon’s feature. It’s a brutal game?
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