So it’s finally happened, as of the 14th April 2020 no UK Gambling Commission licensed casino can accept credit card payments…and it makes us wonder ‘How did this take so long to happen?’.
The UK Gambling Commission is not universally admired amongst online casino operators. They have taken an ‘operator first’ line of attack which has seen several generally decent brands being hit with HUGE fines. As a result, we’ve seen a very different approach to the UK market from brands like Casumo, Mr Green and Leo Vegas, who had previously been pushing very aggressively to attract UK players. They’ve backed right off now, and as margins get squeezed and the legislation gets tighter we can only see this continuing. That means free spins bonus, no deposit offers and other popular bonuses are going to be less and less common because at the end of the day they all have a bottom line cost for the casino…and they can’t afford to be that flippant any more.
Why are credit cards bad?
So how does that all fit with the credit card ban? Well, this is actually one of the first pieces of legislation that might actually help problem gamblers! Wheras so far a lot of effort has gone into making the playing environment ‘safer’ and less prone to abuse by money launderers, the latest efforts seem geared towards removing the potential for problem gamblers to get sucked into a bad gambling spiral. We think this is a really positive step, and we are always keen to champion the ‘Only gamble what you can afford to lose’ line. Yes the fun of gambling is always about crossing that line, the feeling in the pit of your stomach, the highs the lows…we know that…but being able to access that feeling on borrowed money at a ridiculous APR? DANGEROUS!
So that’s it. The end of an era, and like waving goodbye to the influence of Wonga.com on the online gambling scene, we won’t be sad to see the back of credit cards. To find out more about casino payments, check out our in-depth casino payment section.