UKGC banned permission to gamble with credit cards, but some credit card casinos are still working. Despite the fact that a big number of casinos don`t have CC payments, some casino sites still accept credit cards. Many punters like casinos where they can pay by credit card using any UK bank. But some gamblers are not responsible players, so they need to block casino sites.
Various studies conducted worldwide concluded that around 0.12 to 5.8% of the population of every country suffers from addictive gambling. A report in 2019 stated that almost a third of 30% of British people are involved in regular gambling activities. The state of gambling calls for immediate action. Block on gambling transactions has proved to be one of the best ways to control gambling. The service could be availed in a few banks using their net banking sites and applications.
How Can Banks Block Gambling Site Transactions?
According to a survey held in 2020, about 16.6% of youngsters around the age of 16 to 24 are involved in gambling, and around 29.8% of people around the age of 35 to 44 gamble regularly in the UK. A survey in 2018 stated that 0.5% of British citizens had reached the limit of addictive or problem gambling. Thus, UKGC has realized the immediate need for imposing restrictions on gambling.
Popular blocking software such as GamBan, GamStop, Netnanny, or Betblocker provides self-exclusion programs designed to be personalized for the gambler and block all the online casinos registered under them. For example, GamStop by UKGC imposes a block on all UKGC-registered casinos. The problem with such a block is that punters always find a way to escape it, be it through VPN or through new sites that aren’t on the database of the blocker they use.
So, the UKGC ban on credit cards was a significant step by UKGC to control gambling. Banks offer blocking by freezing your card whenever you try to deposit any amount in any gambling sites, including casinos, sportsbook, or any suspicious sites.
What Banks Do Block Gambling Spending?
Gambling restrictions imposed by banks are one of the most impactful ways to control addictive gambling. There will be no way a punter could gamble on any of the online sites or casinos if he could not deposit any money on the sites. But not all banks support blocks on gambling spendings. Here is a list of a few banks that offer such restrictions.
Lloyd’s bank is one of the “Big Four” clearing banks of the world and has branches across England and Wales. The bank, founded by John Taylor and Sampson Llyod, is one of the UK’s largest financial organizations providing various services, including gambling restrictions.
While HSBC stands for Hongkong and Shanghai Banking corporation limited, it is based in America and is the largest bank in Europe. It is an international comp[providing a wide range of banking services, including loans, savings, investments, etc. It also supports gambling restrictions through cards.
Monzo is a UK-based online bank and one of the earliest banks to conquer the online app-based market. Setting up your account in Monzo and availing of all its services is easy, and it offers foreign transactions without any extra fee. In contrast, you can impose a block on foreign transactions, especially gambling spending.
The bank is owned by Llyod’s banking group and is a division of the Bank of Scotland. It operates mainly in Britain, but unlike most banks on the list, it does not work internationally.
Barclay’s is a Britain banking company that mainly operates on two levels, one for British citizens and another that works internationally. It is a universal bank allowing foreign transactions and provides all financial services. You can easily impose gambling restrictions on your debit or credit cards from the Barclays banking app or net banking website.
The UK-based bank founded by Anne Boden in 2014 is still in its infancy. It is an online challenger bank and has features similar to Monzo’s. Again, it is easy to set up, and you can avail of all their services with a click.
Steps To Block Gambling Spendings For Your Credit And Debit Cards?
One of the best ways to control problem gambling is restricting the activity of your cards, be it credit cards or debit cards. You can easily do this by accessing your bank’s net banking facilities. First, you must create a new banking profile using your bank details, such as your account number, bank code, and debit or credit card details.
Then you would be required to browse through the various options and service links to find the link to manage your cards, as different banks have different sets of website and application layouts, and one cannot say how to locate the link.
Once you find the link to manage your cards, you will see various options, such as deactivating your card, blocking the card, and controlling spending. You need to click on the suitable option that will stop all your gambling-related spending.
You can do the same more efficiently in your bank’s app than on the website. Moreover, you can also avail yourself of online services to block your gambling transactions by visiting the nearest branch of your bank. But the process could be tedious and lengthy.
Gambling has become a significant problem in many countries, including the UK. UKGC has taken many steps to control the situation, and blockers like Gamstop, Gamban, Netnanny, and Betblocker have come into the market with self-exclusion schemes to block gambling sites on players’ computers and other devices. Many financial surveys have proved that blocks imposed by banks or blocks on cards are most effective in controlling punters.