Only a few days ago, the gambling regulatory body in the UK unveiled stricter regime applicable to the use of credit cards in gambling transactions. As of April 14th, credit cards would no longer be allowed to be used in transactions involving gambling both off- and online, with the move being part of the latest efforts of the Government and the competent authorities to unveil stricter regulations in the sector.
As previously revealed, about 24 million people gamble on the territory of the UK and approximately 800,000 use a credit card to pay for their gambling transactions. This is what experts call gambling with money people do not actually own and must repay later. Some of them do it only for fun but there are others who start chasing losses and spend hours and hours trying to get back what they have lost.
Currently, about 1% of the UK’s population are gambling addicts but about 22% of the people who use credit cards for gambling payments have been found to have some gambling issues.
The recently announced credit card ban for gambling transactions will also come into effect in Northern Ireland, where 2.8% of the population are problem gamblers. In the Republic of Ireland, the figure is about 1%, which represents around 40,000 people. But should Ireland follow suit and take stricter measures and try to prevent problem gambling from spreading among its residents?
Republic of Ireland Preparing to Unveil Stricter Gambling Rules
There is currently no gambling regulatory body in the Republic of Ireland. Credit card payments in gambling are also pretty much available there.
For the time being, there is an independent advice service for gambling addicts called Problem Gambling Ireland. Its founder, Barry Grant, has shared that using credit cards for gambling payments and getting into debt is not uncommon for people who seek his charity organisation for help.
In fact, Mr Grant has explained that one of the first things that people would go to in case they were chasing their losses was to use their credit card. Often, they were unable to stop gambling, regardless of the losses. On the other hand, credit cards are relatively easy to get in comparison to other types of bank loans or credit, so it is not uncommon for problem gamblers to turn to their credit cards to pay for their gambling, initiating extensive gambling sessions.
The Republic of Ireland has been preparing to unveil stricter regulation for the local gambling industry. It still does not have a gambling watchdog but the authorities have been considering to unveil tougher measures on the sector, considering the rising problem gambling rates. Last year, campaigners have insisted that a gambling regulator is necessary, with an introduction of such a watchdog expected to take no less than a year and a half.
Unfortunately, since then, very little has been made in that direction, with a recently called general election expected to put off the proceedings even more. No clear reason for such a delay of the proposed legislation has been given so far, but the process has stalled for months, and according to campaigners, the Republic of Ireland should follow suit and tighten the restrictions on the local gambling sector.
- Author
Daniel Williams
