How has credit card gambling changed across the industry?

After years of attempting to make the breakthrough into the entertainment mainstream, gambling is finally being recognised in markets across the world. While traditional land-based casino play is stillThere are occasions when we here at ReadyBetGo want to bring you interesting facts about the gambling industry  When something catches our eye, we will publish it for your enjoyment. 
  popular, the digitally enhanced versions of blackjack, roulette, slots, and poker have fittingly taken their place in the online entertainment world.

But while changes are constantly taking place on the virtual gaming floor to introduce new games and innovations to the game play, country markets are beginning to look at the regulatory boundaries of the industry. Individual markets have taken their own approaches to what is and is not allowed, but one of the most contentious regulatory changes has centred around the use of credit cards on online casino and online sports betting platforms.

What is the current status?

As it stands, credit cards are still accepted in most global online gambling markets. However, a handful of countries have introduced regulations banning the use of credit cards for gambling purposes. As one of the leaders in the market, the United Kingdom has taken the lead in breaking new ground in regulation. 

With the overriding objective of protecting players from financial harm and gambling addiction, the UK Gambling Commission along with the UK Government decided to ban credit cards on online gambling operators in April 2020. In a move that affirmed the stance against online gambling harm, the UK drew a line in the sand for other countries to follow.

Currently, Brazil, Australia, and Norway all implement similar bans in their markets to try and eliminate as many avenues to addiction as possible. The conversation around responsibility on online gambling platforms is growing as people spend even more time in the digital realm. 

Where can players use credit cards?

Despite more countries entertaining the idea of banning credit card use on online gambling websites, there are many countries around the world that still permit these transactions on credit card casinos. Italy and Singapore are two markets that openly accept this payment method. However, the situation in other markets is not so clear. 

In another leading market, the U.S, the acceptance of credit cards for gambling is dependent on the state law. However, this is further complicated by specific credit card companies blocking transactions with gambling operators. Residents in each state are encouraged to check with their local providers before making transfers.

Potential for more change

Elsewhere, the use of credit cards is widely recognised with other countries such as Sweden currently in the process of introducing a ban to align with the likes of the UK and Australia. The online gambling landscape is constantly changing, predominantly to keep up with societal shifts. 

The topic of security and responsibility on online gambling platforms is gaining more momentum and credit cards could soon be relegated behind the likes of modern-day payment methods such as e-wallets and cryptocurrency. For now, however, it remains relevant in some markets.