Did you know that, as a nation, the UK spends about £3 billion on casino games each and every year? That’s a staggeringly high number, and a lot of that money is going to be going towards the slot games. This is one of the biggest reasons why there is so much money being invested into slot game development and play at Thor Slots for free, and why so many new ideas are coming out so quickly; the industry is big, and it’s growing all the time.
Yet although for many this large number is going to be something to celebrate, it’s only right that we look at the other side of it as well. With that much money being spent, it means that some of the people doing the spending are spending far too much. They have to be for the figures to make sense. Because of this, the United Kingdom Gambling Commission (UKGC) has looked into online gambling and made some changes to help keep people safer. One of these changes came into effect on 1st April 2020; credit cards can no longer be used at online casinos. The question that many want to ask and get answers to is whether this is a positive thing or a negative one.
Of course, there are certainly going to be positives associated with banning credit cards for use in online casinos. That was the point of creating the rule in the first place. Anyone who might have found that would easily get carried away and spend too much of their own money and borrowed money too (which is essentially what a credit card is) will no longer be able to; once they have run out of their gambling money, they can’t then add to their debt by using a credit card instead of a debit card.
For casual players, it has helped them to play sensibly and only use money they can afford to lose. This is great news; there will be no unnecessary debt incurred and, with this budget in place for playing, their finances should be unaffected (as long as the budget is a good one).
So having seen what the main positive is regarding the credit card ban, can there really be any negatives? The answer is yes, there can. Although banning credit cards online will help most people, those who are completely addicted to gambling will always find a way to spend money on their habit. Banning the credit cards could actually do more harm than good for them.
All the credit card ban will have meant for those people is that they have to borrow money elsewhere. It has simply delayed what many will have seen as the inevitable. They will look to family and friends, loans, selling their possessions, and eventually contacting dangerous loan sharks because they are chasing a big win, sure they can pay everything back eventually. This does not happen except on the rarest of occasions, of course.