In the United Kingdom, a senior government minister has reportedly announced that he is considering whether to introduce legislation that would completely ban the use of credit cards in gambling.

Discussions looming:

According to a Saturday report from The Guardian newspaper, the Secretary of State for Digital, Culture, Media and Sport, Jeremy Wright, explained that he intends to hold meetings with a range of retail banks and bookmakers in order to discuss the matter after discovering that up to 20% of wagers placed with some sportsbetting operators involve the use of credit cards.

Industry pillar:

The newspaper reported that the Gambling Commission regulator is also due to investigate the matter from next month before detailing that any prohibition on the use of credit cards could potentially lead to the nation’s gambling industry losing billions of dollars in revenues every year.

Wright to The Guardian…

“Gambling operators must step in and act when people are showing signs of risky gambling. Their licenses are at risk if they do not. We should also ask if it is right that people should be able to gamble on credit and this is an area that the Gambling Commission is going to look into.”

Ongoing efforts:

The Conservative politician reportedly welcomed initiatives recently introduced by financial institutions including Lloyds Bank, Barclays, Santander Bank and The Royal Bank of Scotland that permit customers to limit their mobile spend on gambling. But, he purportedly declared that the government should moreover continue its efforts at trying to protect those potentially at risk from gambling-related problems.

Self-exclusion failings:

Wright reportedly stated that he additionally intends to ask gambling operators to improve the efficacy of their self-exclusion schemes after a recent investigation found flaws in the industry-funded GamStop program, which was only launched in April following months of delays.

Wright to The Guardian…

“Self-exclusion schemes are essential but must be properly policed and effective to support the individual that has taken the decision to opt out. Self-exclusion measures are license conditions for all gambling operators and those who cut corners in this area must face action.”