United Kingdom Gambling Commission Issues Reminder on E-wallets for Industry Stakeholders

The United Kingdom Gambling Commission (UKGC) has issued a reminder that its call for evidence on its gambling with credit cards consultation will be closing on November 6th.

The reminder was issued to all industry stakeholders. The UK Gambling Commission launched the credit card consultation back on August 14th, after their initial responses were finished on July 24.

There has been a total of 110 responses submitted to the UKGC’s first stage of its credit card consultation. As for the next stage of research, the UK Gambling Commission said that their goal now is to create credible evidence which is in relation to the options of either “banning or restricting” credit card transactions across all types of remote gambling.

Representatives from the Commission said that the preferred option for most of those who responded was to prohibit gambling online with credit cards, so as to achieve this aim.

“The preferred option for most who responded to the call for evidence was to prohibit gambling online with credit cards in order to achieve this aim. We will take the most appropriate course of action in view of any further evidence obtained during this consultation, alongside the data already submitted,” read a statement from the UKGC.

It further stated in their update that it requires evidence from e-wallets so as to address concerns that are tied to transparency, as operators have no means of which method of payment was used – debit card, credit card or a separate balance within the e-wallet.

“We will be writing to e-wallet providers at the start of the consultation and we encourage them to consider, and provide details of, the solutions they can deliver to facilitate any regulatory change,” the UKGC stated in their update.

About:

The Commission was set up under the Gambling Act of 2005 in order to regulate gambling in Great Britain together with licensing authorities. It also regulates the National Lottery and issues licenses for license holders, gambling premises and heavily promotes responsible gambling.

Furthermore, it operates as an executive non-departmental public body of the Government of the United Kingdom. The main goal of the Commission is to keep crime away from gambling and to protect the end-s. They also consult the government on gambling-related issue.

Their motto is “Keeping Gambling Fair and Safe for All” and they’ve been doing a good job.

Source:

“UK Gambling Commission Issues Reminder on e-wallets to all Industry Stakeholders”, Niji Narayan, europeangaming.eu, October 22, 2019.