Why Can’t I Bet With My Credit Card?New laws have been introduced in the UK which prevents players from depositing at online casinos and bookmakers by using credit cards, along with brick and mortar outlets.
The aim is to combat those who are problem gamblers, with research showing credit card being the main source of this.
Bringing in the new law has been discussed for a number of years, with it finally being passed in 2020.
When Do Laws Kick In Banning Credit Card Gambling?The laws come in to play on April 14, just over a week after the Grand National and are due to run indefinitely.
At the moment it’s still unsure as to whether players will still be eligible to deposit into their PayPal or eWallet account via credit card and play.
Which Bookmakers & Casinos Does This Apply To?The move applies to all UK casinos and bookmakers with a blanket ban coming into play mid-April.
This means you won’t be able to deposit via credit card with the likes of Paddy Power, William Hill, Ladbrokes and many more big names.
Additionally, all lottery brands will also no longer be able to accept credit cards as a method of payment.
It’s not expected that it will have a major impact on the industry as a whole, certainly not in the same way the rule change on fixed odds machines had, with the amount of gaming currently taking place with credit cards relatively small in comparison to other methods.
The aim of the law change is to protect vulnerable gamblers, of which 99% of players in the country are not and in effect will not affect the vast majority of players and income for companies.
What Methods Of Payment Can I Deposit With?While credit cards may be gone from April 14, 2020 as a viable method of payment, the number of different ways in which you can make a deposit is forever growing.
Debit cards will still be usable with online bookmakers and casinos, while eWallets such as PayPal, Skrill and Neteller will remain incredibly popular.
The likes of Apple Pay and even crypto-currency (eg. bitcoin) have arrived in recent years, with bank transfer and bank wire also possible with most online outlets.
While many will consider this new law a major change, it shouldn’t cause too many disruptions within the industry and most players should be able to play as normal.