UK gamblers cannot use Credit Cards for gambling from April 14, 2020 - page 2.

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Quote from: Juggy777 on January 15, 2020, 04:07:23 AM

There’s a new regulation for gamblers who reside in UK i.e. from April 14th, 2020 you’ll can’t use your credit cards for online gambling. Now on paper this rule does seem harsh, but when I read their reasoning behind this decision I felt they have taken the right approach and it’ll help UK’s citizens. The key reason why I’m saying that this decision is correct because this move shall force people to gamble only with the money they have, but I’m sure many will not like this decision hence you’ll can post below and tell the community why you didn’t like this decision.

Source:

https://www.bbc.com/news/business-51103006

But what happens if the users use their credit cards to buy bitcoin and those bitcoins for gambling? Cryptos bring a nice opportunity to avoid this kind of law.

I don't think the UK gov can do anything against this.

Hippocrypto

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Quote from: BitcoinTurk on February 05, 2020, 01:28:44 PM

I think it's a good arrangement because gambling with a credit card is not the right thing, and it causes you to lose money that you do not have in your pocket. These cards, which do not make you feel the money you spend even while shopping, and cause you to spend more, unfortunately, also perform the same function in gambling and help you lose money that is not yours more and faster. Using credit cards during gambling games is definitely a huge mistake for both gambling addicts and people with lost psychology. For this reason, I support this decision taken by the British government and this regulation. I hope this decision will start to apply in many countries and will be the beginning of the ban on the use of credit cards in gambling.

I think this plans of credit card would be in conflict with banks, and I am not confident that it's not a good idea when they find out what's going to occur for the long run. However, gambling isn't a wise idea for your credit card spending since you might end up to bottleneck of your purposes. Credit card must be for emergency needs and not dedicated for gambling only.

shield132

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Good decision, really. A lot of people don't have self control and to be fair this win/loss has huge influence on brain that includes rush of dopamine and other hormones that makes situation out of control and gambler, especially those ones with addictive behavior or with addiction, find easy way: Deposit via Credit Cards that they have in their own wallet or who knows, they may take Credit Cards of relatives and gamble. Easy process is good but in gambling I think this new rule will make it a little bit harder for gamblers to deposit and experience their full rush, it's good for them, good rule.

josephdd1

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In my opinion this new law if passed down like many others will limit people's decisions and choices. While I understand that some people might use the credit card to gamble with, and this supposedly will help relieve some of the downstream consequences at the end of the day for these people, I suppose, gambling is an addiction and so they won't stop here. No, they will try harder ways but they'll probably still continue to borrow money and so in the end who wins? That's right the legislation, those in power who think that 1 decision fits all.

20kevin20

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Quote from: BitcoinTurk on February 05, 2020, 01:28:44 PM

I think it's a good arrangement because gambling with a credit card is not the right thing, and it causes you to lose money that you do not have in your pocket.

snip

If I don't have any money but have the urge to gamble, I'll borrow money from someone and I'll satisfy my gambling needs with it.

I just don't get what's up with these measures - if someone's borrowing methods are limited, the last resort will be asking someone for money. And that's even worse than going on a credit card balance spree, socially speaking.

The first and most important thing they should take care of is helping people fix their addition. If you are so addicted you can't gamble more than you can afford to, that's very bad and becomes a mental issue. Before taking care about the customer's money, take care about their mental health.

vintages

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I don't understand why many people are frowning on this development but I think it's for their own good. They won't understand but credits card exposure especially using them to gambling online is more reason why cards are hacked. Especially for those who play games.
Every say, gambling sites are set up, some of them pretend to be legit but in disguise they are criminals. It's high time they embrace digital currency for their own benefits.

BitcoinTurk

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I think it's a good arrangement because gambling with a credit card is not the right thing, and it causes you to lose money that you do not have in your pocket. These cards, which do not make you feel the money you spend even while shopping, and cause you to spend more, unfortunately, also perform the same function in gambling and help you lose money that is not yours more and faster. Using credit cards during gambling games is definitely a huge mistake for both gambling addicts and people with lost psychology. For this reason, I support this decision taken by the British government and this regulation. I hope this decision will start to apply in many countries and will be the beginning of the ban on the use of credit cards in gambling.

aioc

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Quote from: Juggy777 on January 15, 2020, 04:07:23 AM

There’s a new regulation for gamblers who reside in UK i.e. from April 14th, 2020 you’ll can’t use your credit cards for online gambling. Now on paper this rule does seem harsh, but when I read their reasoning behind this decision I felt they have taken the right approach and it’ll help UK’s citizens. The key reason why I’m saying that this decision is correct because this move shall force people to gamble only with the money they have, but I’m sure many will not like this decision hence you’ll can post below and tell the community why you didn’t like this decision.

Source:

https://www.bbc.com/news/business-51103006

Although it may look harsh the government just want to protect the welfare of the credit cardholders, this gambling you can lose everything here and you will deep in credit if the gambler loses control and this is what the government is trying to prevent, the credit card holder can understand if the government can explain it properly.

Twentyonepaylots

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Quote from: Genemind on January 27, 2020, 07:35:24 AM

It will still benefit those gamblers who are abusing their credit cards for gambling but they will surely still find another mode of the transaction just to pursue playing.

But at the very least, UK government imposing a regulation on using credit cards for gambling will still help them in the long run. Most gamblers, including cryptocurrency gamblers, lose money all the time. They try to make up for their losses by buying more coins to hope for a shot at winning. Which most of the time, as we all know, ends up in vain because of how the gambling industry works.

Quote from: Genemind on January 27, 2020, 07:35:24 AM

As long as crypto gambling is legal in their country, no one could stop players to gamble because there are still alternative ways except for credit cards.

Now with imposing this ban on credit cards for gambling, this ensures that whatever happens, even if these people make up for their losses by betting again. They wouldn't be in debt with the bank they are in. Further giving them the chances to not be homeless someday. I think despite the negative remarks it receives, it still a good move in UK's end. It shows that they care for their people and wouldn't want them to be in debt.

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Quote from: Genemind on January 27, 2020, 07:35:24 AM

It will still benefit those gamblers who are abusing their credit cards for gambling but they will surely still find another mode of the transaction just to pursue playing. As long as crypto gambling is legal in their country, no one could stop players to gamble because there are still alternative ways except for credit cards.

Why would you call it abusing? They are using their own credit cards to gamble, its not like they are using someone else's credit card to gamble. Even if they try, they won't be able to do so do you ID verification and stuffs. Again, credit cards have limits. There is no way a person can "abuse" his card due to those limits.
Even if crypto gambling is not legal in their country, they can still find their way out to gamble with crypto currencies without any troubles.

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: Genemind on January 27, 2020, 07:35:24 AM

It will still benefit those gamblers who are abusing their credit cards for gambling but they will surely still find another mode of the transaction just to pursue playing.

It is an exaggeration to say that they were abusing credit cards. They have some limits obviously but for addicted gamblers they are probably hitting these limits very quickly. The news says a later date, there might be some changes before that. Some of them who dont want such a change might cut down on their habits or look for alternatives.

Quote

As long as crypto gambling is legal in their country, no one could stop players to gamble because there are still alternative ways except for credit cards.

Except that everyone does not own not know about bitcoin and its usage. The online casinos are available in many countries but starting to use them is a new challange and as humans are by nature, they dont like a new thing to learn or change.

sheenshane

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Quote from: big_daddy on January 27, 2020, 10:38:03 AM

Gamblers will not stop gambling cause of this ban
They will find another way to use their credit cards, or move to other markets where is allowed

Tend to agree, probably this is the time that they will use cryptocurrency like Bitcoin in gambling. This has a good impact on their people, no one will be buried in debt and everyone should learn how to spend money on gambling that they only can afford. Using credit cards just to gamble might become user put into serious debt and cant recover on it until it will long last debt forever until anyone will commit crimes just because of dip debt. Switching is a cryptocurrency that might be happening in this scenario and that will be good news to us as crypto enthusiasts.

big_daddy

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Quote from: kotajikikox on January 15, 2020, 05:59:59 AM

Quote from: Juggy777 on January 15, 2020, 04:07:23 AM

There’s a new regulation for gamblers who reside in UK i.e. from April 14th, 2020 you’ll can’t use your credit cards for online gambling. Now on paper this rule does seem harsh, but when I read their reasoning behind this decision I felt they have taken the right approach and it’ll help UK’s citizens. The key reason why I’m saying that this decision is correct because this move shall force people to gamble only with the money they have, but I’m sure many will not like this decision hence you’ll can post below and tell the community why you didn’t like this decision.

Source:

https://www.bbc.com/news/business-51103006

for me this is one perfect move to prevent people becoming Broke and deeply in credits because we knew how addicting gambling is and with our credit cards we are confident that everytime we run out of money then we can run using cards?

this must be implemented worldwide for the benefits of every gambler,maybe this is not approve for others but in time they will realized how this can help.

Gamblers will not stop gambling cause of this ban
They will find another way to use their credit cards, or move to other markets where is allowed

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Quote from: Juggy777 on January 15, 2020, 04:07:23 AM

There’s a new regulation for gamblers who reside in UK i.e. from April 14th, 2020 you’ll can’t use your credit cards for online gambling. Now on paper this rule does seem harsh, but when I read their reasoning behind this decision I felt they have taken the right approach and it’ll help UK’s citizens. The key reason why I’m saying that this decision is correct because this move shall force people to gamble only with the money they have, but I’m sure many will not like this decision hence you’ll can post below and tell the community why you didn’t like this decision.

Source:

https://www.bbc.com/news/business-51103006

The government has a need to impose this,m so many people cannot control gambling using their credit card, and this will leads to credit default and problem and will result in frustration to the person, but these people can still find a way because we all know they can use their credit to nuy Cryptocurrency and use Cryptocurrency to gamble.

Genemind

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It will still benefit those gamblers who are abusing their credit cards for gambling but they will surely still find another mode of the transaction just to pursue playing. As long as crypto gambling is legal in their country, no one could stop players to gamble because there are still alternative ways except for credit cards.

Juggy777

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Quote from: TheUltraElite on January 27, 2020, 03:42:13 AM

Quote from: Naida_BR on January 23, 2020, 02:41:38 PM

Such a correct decision that is needed to be implemented in more countries all over the world.
It is a great way to protect people from losing all their money in gambling spots. Wealth is protected along with economic stability.

You know the reason why people get attracted to something that is forbidden? It the curiosity that why they are forbidden to do something. That is why censorship never works. Being open minded and allowing people to know things and decide for themselves is more healthy even though the bad effect can be dire in this approach.

Removing credit card payment from gambling would not stop gambling but increase it because those who are gamblers will not be able to douse the fire in them for gambling addiction. So they will go for more circumvention methods. Maybe they will go for bitcoin or seek a overseas dealer and pay them to deposit money on their account.

@TheUltraElite you have a valid point out here and there’s no doubt that once you’re addicted to something it’s very difficult to give it up, and it’ll be interesting to see what alternative these gamblers will seek once the regulations are implemented.

Quote from: magneto on January 27, 2020, 05:31:33 AM

This may actually be a positive development.

Gamblers who are inclined to bet on credit probably don't have the rational mindset that are needed to make decisions in the first place. Anything that they gamble on casinos with credit is likely gonig to result in longlasting losses that they can never dig out of.

That is obviously bad both from the perspective of the gambler, and the card issuer - by explicitly banning this act everyone benefits.

@magneto you’re absolutely correct because not all gamblers know when to stop and some like me will keep on chasing their losses, and in that process incur unnecessary high debts too hence banning credit cards for gambling is a good idea.

magneto

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This may actually be a positive development.

Gamblers who are inclined to bet on credit probably don't have the rational mindset that are needed to make decisions in the first place. Anything that they gamble on casinos with credit is likely gonig to result in longlasting losses that they can never dig out of.

That is obviously bad both from the perspective of the gambler, and the card issuer - by explicitly banning this act everyone benefits.

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: Naida_BR on January 23, 2020, 02:41:38 PM

Such a correct decision that is needed to be implemented in more countries all over the world.
It is a great way to protect people from losing all their money in gambling spots. Wealth is protected along with economic stability.

You know the reason why people get attracted to something that is forbidden? It the curiosity that why they are forbidden to do something. That is why censorship never works. Being open minded and allowing people to know things and decide for themselves is more healthy even though the bad effect can be dire in this approach.

Removing credit card payment from gambling would not stop gambling but increase it because those who are gamblers will not be able to douse the fire in them for gambling addiction. So they will go for more circumvention methods. Maybe they will go for bitcoin or seek a overseas dealer and pay them to deposit money on their account.

dothebeats

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It took so long before this gets implemented in the UK. In some gambling hotspots in the world, AFAIK you cannot buy credits/tokens in the casino with your credit card since it is borrowed money, and sometimes it always gets defaulted in the end. Also, I believe that credit card companies don't also allow this kind of activity since it always results into the credit card being cancelled the next day after the purchase/buy-in is found out. Good decision in order to save the lives of the chronic gamblers and the credit card companies as well.

Naida_BR

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Such a correct decision that is needed to be implemented in more countries all over the world.
It is a great way to protect people from losing all their money in gambling spots. Wealth is protected along with economic stability.

Topic: UK gamblers cannot use Credit Cards for gambling from April 14, 2020 - page 2. (Read 964 times)