Gambling on credit cards to be banned from April 2020.
The simple answer is yes; gambling can most definitely hurt your credit score. Even if you have the necessary capital to fund your gambling, more often than not, you are financing your gambling habits with something that is credit score dependent: most commonly, a credit card (confused about your credit score? Read this article to learn more).
We will therefore need to prevent gambling operators from accepting any payments via e-wallets unless e-wallet providers can prevent credit cards being used for online gambling through their facilities. Or, in the case of regulatory measures short of a ban, we would need to ensure that any limits or controls on gambling with credit cards can be equally applied to the use of credit cards.
Credit cards are available globally and used very frequently, thus making them a perfect fit for online gambling. Customers can easily apply for a credit card from Visa, AMEX, MasterCard, or other.
That’s right: You can’t use your credit card to make your regular credit card payment. When you’re setting up your online credit card payment, you won’t even find a place to enter your credit card number online. You can, however, transfer your balance to another credit card.
Prepaid gambling involves purchasing a card, voucher or cryptocurrency (such as Bitcoin) in a designated amount and then using it or redeeming it to fund your online gambling account. In most cases, you can use cash to purchase your prepaid cards, while prepaid vouchers are purchased online using your credit or debit card.
If the airline absolutely won’t refund you and you paid by credit card, then there’s no reason not to make a claim on your credit card. While this is not the guaranteed way to get your money back that some sources claim, it won’t cost you anything and is worth a try. There is advice on how to go about it and an online form to use here.
If you’re contemplating using a credit card to finance your online gambling account, you’re very likely to face some challenges. For example, none of the popular casino sites support credit card cashouts, but you can still deposit your cash into your casino account effortlessly.