UKGC announced ban on gambling with credit cards

[pinnit2015]

So far, can see L and L casinos have 'disabled' their reverse functionality. 

[ValDes]

28 minutes ago, pinnit2015 said:

So far, can see L and L casinos have 'disabled' their reverse functionality. 

I was just thinking how is this withdrawal reverse/cancel ban gonna work with Casino Reward brands...  

[pinnit2015]

1 hour ago, ValDes said:

I was just thinking how is this withdrawal reverse/cancel ban gonna work with Casino Reward brands...  

Probably reduce revenue by 30%

See to be honest...will it really affect a casinos bottom line? If you're a degenerate gambler, if there's no pending periods/reverse periods, they're just going to put it back in anyhow rather than reverse.

The 30% figure, unconfirmed, was how much a casino revenues was chalked up to folk reversing (seems a bit high but anyhow) but whilst there will be 'normal' gamblers who do this, be interested to know how many times compulsive gamblers reverse - i'd guess nearly 100% - even then a lot probably don't even hit withdraw

Reason pending period may go away after this, and processing speeds greatly increased, is because the casino will want to give the money out quicker so they can get it back just as fast. 

Genesis Global's whole business as well is predicated upon pending periods and reversing - by far the worse i've encountered; even Bingo sites pay faster. 

[pinnit2015]

Looks like the guys at L and L are really going through it point by point:

Guidance says don't send offers to folk at risk (d'oh) but they've emailed saying no more offers will be communicated via email.

[ValDes]

15 hours ago, pinnit2015 said:

Probably reduce revenue by 30%

See to be honest...will it really affect a casinos bottom line? If you're a degenerate gambler, if there's no pending periods/reverse periods, they're just going to put it back in anyhow rather than reverse.

The 30% figure, unconfirmed, was how much a casino revenues was chalked up to folk reversing (seems a bit high but anyhow) but whilst there will be 'normal' gamblers who do this, be interested to know how many times compulsive gamblers reverse - i'd guess nearly 100% - even then a lot probably don't even hit withdraw

Reason pending period may go away after this, and processing speeds greatly increased, is because the casino will want to give the money out quicker so they can get it back just as fast. 

Genesis Global's whole business as well is predicated upon pending periods and reversing - by far the worse i've encountered; even Bingo sites pay faster. 

True that, but let's not forget that with the latest changes into the UKGC LCCP such not 100% justified withdrawal reversals/cancellations might be a valid reason for a successful complaint against the relevant brand. So, it's not that easy anymore for the operator to just cancel the pending withdrawal, return the amount to player's balance and send some crappy email re pending verification requirements or BS like that... 

And while some are truly determined to follow all UKGC guidelines and requirements down to the last comma,  I have the odd feeling others are already making significant steps towards exiting UK market asap. 

[pinnit2015]

44 minutes ago, ValDes said:

True that, but let's not forget that with the latest changes into the UKGC LCCP such not 100% justified withdrawal reversals/cancellations might be a valid reason for a successful complaint against the relevant brand. So, it's not that easy anymore for the operator to just cancel the pending withdrawal, return the amount to player's balance and send some crappy email re pending verification requirements or BS like that... 

And while some are truly determined to follow all UKGC guidelines and requirements down to the last comma,  I have the odd feeling others are already making significant steps towards exiting UK market asap. 

True - Shadowbet and Cashmio are leaving the UK - to be honest, I couldn't care as they're two vanilla MTS sites in the great British sell off. Wishmaker are going as well and Calzone will soon follow. 

Honestly say that if every casino bar Sky Vegas and Grosvenor,  and say an L and L leaves, I won't be crying too many tears tbh - if that means we cut a lot of the Maltese casinos nonsense out, then so be it. Still a few new ones popping up - Dazzletag (UK based i think, never heard of) have a few newbies. Plus Aspire Global have bought over a few more- sorry, not bought over, are hosting (hmmm)

Quite a few casinos that have opened and closed in 3 months - find that very odd tbh (well, I don't for certain reasons  - the position in 6 months will maybe give a flavour for who's here to stay. Lets be honest though as well - it's not purely regulation as well; so many white labels knocking about, there had to be a culling of the herd at some point so to speak as well.

Regulation + Market Saturation: see who's left at the end of it. 

The bigger issue is the move towards 92% RTP games in the future - lower RTP's are now spreading to Thunderkick and Netent. 

[cocopop3011]

Everyone remember this topic? I know I was in favour of this move, can't remember what everyone else though. But anyway, There has been a significant amount of time since the ban was  enforced and it seems it has been received well by players!

More information if you're interested can be found here - The Gambling Commission Publishes an Interim Evaluation of the Credit Card Ban

[Flatzem]

3 minutes ago, cocopop3011 said:

Everyone remember this topic? I know I was in favour of this move, can't remember what everyone else though. But anyway, There has been a significant amount of time since the ban was  enforced and it seems it has been received well by players!

More information if you're interested can be found here - The Gambling Commission Publishes an Interim Evaluation of the Credit Card Ban

can't read it cause of the yikes page not found issue that I am experiencing this month

[cocopop3011]

3 hours ago, Flatzem said:

can't read it cause of the yikes page not found issue that I am experiencing this month

The issues has been reported, I'll let you know when I know any more.

[slotshunting78]

On 11/19/2021 at 12:53 PM, cocopop3011 said:

Everyone remember this topic? I know I was in favour of this move, can't remember what everyone else though. But anyway, There has been a significant amount of time since the ban was  enforced and it seems it has been received well by players!

More information if you're interested can be found here - The Gambling Commission Publishes an Interim Evaluation of the Credit Card Ban

I'm all for it. I used to gamble with credit cards, and I always got stung with stupid fees, not to mention the temptation to risk more than I could afford.

I can't help but think we just swapped one issue for another though. I'm all for giving players choice, but I struggle to see how credit card gambling could be illegal while Pay By Phone gambling is perfectly okay. I mean, it's a form of gambling with credit, it charges high fees, and it's now available everywhere. Sure, you're limited to £30 or so, but that can be a lot to some people, especially if they're making that payment repeatedly and being hit with fees every time.

[Afi4wins]

3 hours ago, slotshunting78 said:

I'm all for it. I used to gamble with credit cards, and I always got stung with stupid fees, not to mention the temptation to risk more than I could afford.

I can't help but think we just swapped one issue for another though. I'm all for giving players choice, but I struggle to see how credit card gambling could be illegal while Pay By Phone gambling is perfectly okay. I mean, it's a form of gambling with credit, it charges high fees, and it's now available everywhere. Sure, you're limited to £30 or so, but that can be a lot to some people, especially if they're making that payment repeatedly and being hit with fees every time.

I'm with it too.

In my country, even local banks have banned money transfers to gambling houses, except to the approved local ones. Both Credit and Debit cards are unusable for gambling.

To be honest, if anyone wants to gamble, do it with their cash money...never on borrowed money, or on credit. No cash money? Don't gamble! 

[cocopop3011]

On 11/29/2021 at 4:19 AM, Afi4wins said:

I'm with it too.

In my country, even local banks have banned money transfers to gambling houses, except to the approved local ones. Both Credit and Debit cards are unusable for gambling.

To be honest, if anyone wants to gamble, do it with their cash money...never on borrowed money, or on credit. No cash money? Don't gamble! 

Absolutely agree Afi! I've always said credit cards should not be allowed in casinos and the same goes for Klarna. It's just a breeding ground for the vulnerable in my opinion.