Mastercard Gambling Restrictions
- National Lottery Credit Card Payment
- Mastercard Gambling Restrictions Credit Card
- Bookies That Take Credit Cards
Mastercard gambling restrictions are not installed by the company itself. Instead, any Mastercard limitations when it comes to online sports betting are the product of the UIGEA federal banking regulation, which occasionally causes your card to be declined. The BMO Mastercard cardholder agreement defines the term as such: “Cash-like transactions mean transactions involving the purchase of items directly convertible into cash including wire transfers, money orders, travelers cheques, gaming transactions (including betting, off-track betting, race track wagers, casino gaming chips and lottery. MasterCard Betting Sites & Casinos. MasterCard is a brand known throughout the world, and it is used for millions of transactions every day. For many of the real money transactions that take place in online gambling, MasterCard is the go to option, simply because it’s such an easy way to deposit. What’s more, transactions are fast and free.
The U.K. Gambling Commission (UKGC) has been tightening its grip on the gambling industry for quite some time. In August (although it was planned for July), the started the consultation on the use of credit cards for gambling purposes. Although their decision is not final yet, there were talks about a complete ban.
Is it possible? Well, in Germany, it already happened. PayPal has closed its serviced for German players so it is not impossible for that to happen to U.K. players too.
Many expect that if this is to happen in the U.K. the operators will go crazy. Greg Gomez, the Affiliate Director at Maxi Affiliates obviously thinks otherwise. He believes that the damage won’t be that big because players are mostly using e-wallets or debit cards for gambling online, rather than credit cards.
He said that U.K. players are picking alternative methods because they want to avoid the fees implemented by banks in the country.
Teodor Spiridonovski, the Senior Affiliate Executive at Tau Affiliates, agrees with Gomez and believes that credit card restrictions will not harm their operations since they are not tied to PayPal only.
The Head of Affiliates at United Commissions, Ran Shalom, has a different opinion. He believes that these restrictions will affect both the players and the operators. He is worried about new player flows and conversion rates, among other things.
Also, he is worried that other e-wallets follow PayPal’s footsteps.
Spiridonovski believes that this may happen so it is important to provide players with a variety of payment methods available. Gomez believes that others may do as PayPal did, but their decision will be restricted to Germany only. He believes that PayPal is a reliable paying method for U.K. players and Maxi Affiliates will continue to promote it.
Whatever the case, it seems that times of change are closing in. Companies will need to adapt, and as Spiridonovski put it, the regulations are there for a reason.
Gomez believes that tough regulations are necessary to keep the operators in line. After all, regulations bring stability and security for players. Shalom admits that although restrictions may be harsh in times, these are necessary to keep the industry working properly.
Source:https://calvinayre.com/2019/09/23/business/how-affiliates-view-credit-card-gambling-restrictions/
If you’re worried about how much you're spending on gambling, then there is lots of support out there to help you. Including banks.
What Tools Do Banks Provide Their Users?
National Lottery Credit Card Payment
Can banks block gambling transactions? We run through the major UK high street banks and outline what services they provide to their at-risk customers.
Many banks are now working on plans to help customers restrict their spending on gambling, offering gambling blocking solutions, with some banks allowing customers to 'turn off' payments to certain types of retailer, including gambling services.
What is the Gambling Block?
While each scheme operates in their own way, fundamentally they all work the same. The gambling block is a feature that allows you to block your bank account/bank card/credit card from being used for gambling transactions.
Which banks offer a Gambling Blocking Services?
Royal Bank of Scotland
Offers a card locking feature to customers which include a blocker specifically for gambling transactions.
Learn more about the Royal Bank of Scotland's services below.
Lloyds Bank
A feature within their banking app, which lets customers quickly freeze and unfreeze different types of transactions on their debit or credit cards. As well as offering their customers access to Gamban.
Learn more about Lloyds Bank's services below.
Halifax
Offers customers various useful tools and support such as; financial tracking, personal support and advice and access to Gamban licences to block online gambling.
Learn more about Halifax's services below.
Bank of Scotland
Offers a card freezing feature, which, include a blocker specifically for gambling transactions.
Learn more about the Bank of Scotland's services below.
mbna
Allows customers to keep track of their bills and spending by using their Online Card Services.
Learn more about mbna's services below.
HSBC
Allows customers to voluntarily add or remove gambling restrictions on their debit cards or credit cards (including Pay by Bank app). HSBC also offers a 'Cool Off Period', this means that customers can opt to lift the gambling restriction, but transactions will still be declined until the 'Cool Off Period' has completed.
Learn more about HSBC's services below.
Monzo
Allows customers to block gambling transactions on their Monzo account, straight from the app. To turn off the block, customers will need to talk to Monzo's customer support team. Where they'll ask questions to see if their situation has changed since first switching on the restrictions.
Learn more about Monzo's services below.
Starling Bank
Allows customers to block online payments, including gambling transactions, easily from their banking app.
Learn more about Starling Bank's services below.
Natwest
Offers customers a card locking feature, which includes a gambling transactions blocker, within the banking app.
Learn more about Natwest's services below.
Barclays
Mastercard Gambling Restrictions Credit Card
Allows customers to block debit card payments to certain types of merchants, including gambling websites and apps, within their banking app.
Learn more about Barclays' services below.
Santander
Allows customers to block specific transaction types without freezing their Mastercard entirely (iOS devices only, coming soon for Android).
Bookies That Take Credit Cards
Learn more about Santander's services below.
Why are banks doing this?
People who have gambling problems and decide to stop can choose to self-exclude from gambling, use software to block online gambling sites and self-exclude physically from betting shops and casinos. While these are all helpful ways for people to get support, many banks believe they can do more to support self-exclusion too.