This week the Gambling Commission announced that as of 14th April 2020, gambling companies will no longer be able to accept credit cards.
And whilst it seems like the betting industry is under heavy fire recently, we think it’s a good call. For matched bettors it won’t hinder the ability to make money from bookmakers offers, but will add a layer of responsibility that safeguards important social issues.
Credit Cards Not Accepted
Taken directly from the gambling commission’s statement:
“Research shows that 22% of online gamblers using credit cards are problem gamblers, with even more suffering some form of gambling harm”
– Neil McArthur, Gambling Commission Cheif Executive
That’s a worrying figure when you think about it. People who bet on credit are likely to be societies most vulnerable.
If you are currently using credit cards to control your matched betting cash-flow, it’s time to think about the months ahead. Typcially you don’t need a huge bankroll to matched bet your way through bookmakers offers.
Our advice is simple; don’t be tempted to spend your matched betting profits at the first turn. Let the float build-up, keep it for reloads, 2up’s and new account offers in the future. Cheltenham isn’t that far away (March) and there will be some enhanced offers to profit from. Shortly after, you won’t have the opportunity to deposit via credit card again.
Be wise! Plan for the long-term. And for god sake, don’t bet with money you don’t have!
Will You Be Affected? Have Your Say: Matched Betting Community Forum
