People are to be banned from using credit cards to place bets in an attempt to curb problem gambling, the Gambling Commission in Britain has said.
The ban, which starts on 14 April, comes after reviews of the industry by the commission and the government.
A total of 24 million adults in Britain gamble, with 10.5 million of those doing so online.
Separate commission research shows that 22% of online gamblers using credit cards are classed as problem gamblers.
Neil McArthur, Gambling Commission chief executive, said: "Credit card gambling can lead to significant financial harm. The ban that we have announced today should minimise the risks of harm to consumers from gambling with money they do not have.
"We also know that there are examples of consumers who have accumulated tens of thousands of pounds of debt through gambling because of credit card availability.
"There is also evidence that the fees charged by credit cards can exacerbate the situation because the consumer can try to chase losses to a greater extent."
Culture Minister Helen Whately said: "Whilst millions gamble responsibly, I have also met people whose lives have been turned upside down by gambling addiction.
"There is clear evidence of harm from consumers betting with money they do not have, so it is absolutely right that we act decisively to protect them.
"We will not hesitate to take any further action necessary to protect people from gambling harm."
The ban will apply to all online and offline gambling products except lotteries that are run for good causes. These lotteries will have to provide a significant layer of additional protection to vulnerable people.
In addition, all online gambling operators will have to participate in the Gamstop self-exclusion scheme and offer it to all customers from 31 March.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
ESCO VOLTA holds meeting to strengthen cross-border cooperation in security, development
28 seconds -
Kufuor Scholar champions Agricultural Innovation through Fidelity GreenTech Challenge
9 mins -
EPL: Isak scores at home again as Newcastle beat Arsenal
18 mins -
I’m proud that despite all the challenges, we have maintained Free SHS – Akufo Addo
4 hours -
Alan’s running mate, KOD says GRASP will revolutionize care for the Elderly in rural areas
4 hours -
Election 2024: Alan paints Accra yellow as the crowd marches through the capital with him
4 hours -
Vacant seats: Speaker has not done what would have led to greater peace – Kofi Bentil
4 hours -
Police on manhunt for Adabraka daylight robbers
4 hours -
Lordina Mahama presents medical supplies and equipment to Tishigu Health Center
4 hours -
Lordina Mahama urges Ghanaians to prioritise regular health screenings
4 hours -
EC to reassess decision on presidential ballot printing next week – Dr Bossman Asare
5 hours -
Shark attacks surfer, 61, on Hawaiian island of Maui
5 hours -
29 Nigerian children may be sentenced to death for protesting against cost-of-living crisis
5 hours -
Nigerian becomes first black woman to lead major political party in the UK
5 hours -
Perception issues affecting Supreme Court – Nii Armah Addy
6 hours