The UK gambling industry saw a boom in the last decade as technological and internet advances brought huge growth in online gaming. Unfortunately, this also coincided with a rise in problem gambling and the UK Gambling Commission announced sweeping new regulations in 2019 to tackle the problem. Punters who are comfortable with their betting habits are now finding non GamStop casinos are offering the environment that used to exist in the UK and we’ll discuss that in this article.
Why Did the UKGC Ban Credit Cards?
The decision by the UKGC to stop credit card deposits was part of their efforts to regulate the industry. Pressure from government and social groups has forced the commission to show that they are tackling problem gambling and the card decision is related to affordability checks.
Unfortunately, there are some who can’t control their betting habits and when payday comes, these bettors can make damaging decisions. Being able to bet 24/7 in the comfort of your own home can also be a problem and punters were previously restricted by the physical aspect of withdrawing money and going to a casino. For the UKGC, the removal of credit cards is simply a way to reduce the risk of financial holes.
The problem with sweeping regulations is that they also punish bettors who are in control of their wagers and it leads to limited choice and gaming freedom. It is right to tackle the issue of problem gambling, but some punters find themselves frustrated by these efforts and this is why they are seeking out alternative non GamStop casinos.
Debit and Pre-Paid Cards
The benefit of using debit cards and pre-loaded cards is that gamblers can only bet with money that they can afford to lose and not create serious financial implications. Problem gamblers often hide their addiction until they engulf those around them and taking away the potential for debts is one step to protect all involved.
There are a large selection of pre-paid cards and these can also help to segregate gambling and other incomes. When having to provide bank statements to obtain mortgages and other forms of finance, it can be useful to remove the stigma that gambling payments can bring. The reality is that everyone has an outlet for their spending and while some like to flutter on horses and casinos, their spending is no more wasteful than someone who spends large amounts on clothing, or other disposal items.
E-wallets have risen in popularity over the years, just as the number of products have risen with the technology changes. To operate financial services companies, businesses needed big spending on physical branches. This kept the big players in a monopoly over the finance scene, but this has changed in recent years with wallets from providers such as Skrill being used to fund accounts.
The new players in this financial revolution are enticing customers with alternative options such as cryptocurrency deposits, while they also offer VIP benefits and cashback rewards. These can be used for funding betting accounts, but users still can’t use them as a credit card loophole in UK online casinos.
Bitcoin and Cryptocurrencies
In the last couple of years, Bitcoin has emerged as a new funding option and the rise of valuations across the sector is also seeing new coins used for betting as investors find themselves in profit. Cryptocurrencies are simply digital coins that are coded into a blockchain and can’t be changed. This gives them the scarcity element of assets, while some are backed by ecosystems of collectible goods or financial services.
Although there is some anonymity to using the coins, users will still have to provide their verification and I.D. at non UK casinos and because of the anonymous element, it is unlikely that they will emerge in UK casinos.
Credit Cards on Non GamStop Casinos
The UKGC also brought in the GamStop scheme, which is a self-exclusion program for UK gamblers to enforce a ban of up to 5 years at UK online casinos and sports betting sites. For those that are comfortable with their gambling, it is not so much the exclusion element, but the overall dampening of the experience that is coming from increased regulations, such as spin timers, stake size limits and now, the removal of credit cards.
It is clear to see why the UKGC banned credit cards but for those who still want to use them there is the option of non GamStop casinos. Everyone’s betting habits are different but so is everyone’s financial situation. A £500 or 1000 credit card limit can be small for some, or a big problem for others. For those that want to use cards, and can afford to, the option is still there if you seek out sites not on GamStop.
For UK casino fans the tightening of restrictions has been a burden for some. Sweeping changes were enforced after pressure from governments and social groups but these changes can ruin the experience of gambling for some.
It is right that the UKGC tackled problem gambling because the sector was seeing a huge growth in the ability for bettors to bet anonymously at any time of the day. Access to money has also expanded with the arrival of digital connectivity and this is convenient for some, but dangerous for others. But for those who are comfortable with their habits there are still opportunities in non GamStop casino to recreate the freedom and choices that once existed in the UK gambling scene.