MENU

Published on 14/01/2020 2:00:15 PM | Source: Reuters

Britain bans UK consumers from using credit cards to gamble

Posted in Top Stories| #World Market #London #Credit card

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel  https://t.me/InvestmentGuruIndia 

Download Telegram App before Joining the Channel

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel https://t.me/InvestmentGuruIndia 

Download Telegram App before Joining the Channel

LONDON (Reuters) - Britain's 24 million adult gamblers will not be able to use credit cards to gamble under a new rule designed to prevent consumers from building up too much debt.

The Gambling Commission said on Tuesday the ban, which comes into effect on April 14 2020, will apply to all online and offline gambling products apart from 'non-remote lotteries' - lotteries where payment is made face-to-face.

Research by the commission classes 22% of online gamblers who use credit cards as "problem gamblers".

 

(Reporting by Elizabeth Howcroft; editing by Kate Holton)