Britain bans credit betting

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The British government has said it will prevent gamblers from using credit cards to bet online or offline to accumulate debt, which means that Britain’s 24 million gamblers will not be able to use credit cards to place bets, in the latest move by the government to address the gambling problem, The move comes less than a year after Britain cut the maximum stake that can be placed on fixed-bet betting stations.

According to the Indian gadgetsnow, according to the UK Finance business, about 800,000 Britons use credit cards for gambling, and the Gambling Commission believes a quarter of these are problematic gamblers – people addicted to gambling to try to recover their losses, while betting companies including 888 Holdings And Flutter Entertainment and William Hill are in early trade, before recovering late in the morning, and Culture Minister Helen Watley said there is clear evidence of harm to consumers who are betting with money they don’t own.

“We will not hesitate to take any additional action necessary to protect people from the harm of gambling,” the gambling industry is considered prosperous in Britain, employing more than 100,000 people and achieving 14.4 billion pounds ($ 18.7 billion) after paying the profits in Fiscal year 2018-2019.

But the government has sought to tighten the rules in recent years by setting a maximum stake on terminals, resulting in a tighter age and identity verification for online gambling and expanded support for those who have become addicted, and the new ban will take effect on April 14 and apply to all gambling products Online and offline regardless of lottery tickets available without a prescription.

David Ban’s analysts said the ban was likely to result in a one-digit percentage drop in related revenue, and said in a note to clients, “The latest in a series of more daunting regulatory changes, is an additional reminder that the opportunity in the UK is not the same as it was from Before, “he added,” however, it is still a very large (still) growing and highly cash-generating market for online gaming operators. “

It is reported that the British had a total of 72.1 billion pounds on credit cards in November, according to Bank of England data, a slight decrease from a record level of 72.9 billion pounds in May.

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