BOS challenges Sweden’s credit card gambling ban

BOS challenges Sweden’s credit card gambling ban

Added:
BOS challenges Sweden’s credit card gambling ban

The Swedish Trade Association for Online Gambling (BOS) released a statement discussing the proposed credit gambling ban that is gaining momentum among lawmakers and was also approved by Spelinspektionen.

BOS, which represents eighteen gambling companies in the regulated sector, demands that lawmakers reject the plan.

To lessen some of the burden that the new measure would place on operators screening their players for using credit cards to play, BOS offers a conciliatory path, though it acknowledges that this may not be possible. It asks the government to ensure that:

“the obligation not to mediate payments for gambling purposes be imposed on those issuing credit cards.”

To be clear, BOS supports finding a means to guarantee that customers are safeguarded and is not arguing against the main point, which is that players shouldn’t be gambling with credit. BOS also pointed out that, at least in Sweden, a prior investigation into the matter, known as the Over-indebtedness Inquiry, found insufficient evidence to conclusively link the use of credit cards to harm associated to gambling.

BOS added in a public statement signed by Secretary General Gustaff Hoffstedt:

“We share the Indebtedness Inquiry’s opinion that a ban on credit cards for gambling should not be introduced.”

After looking into credit card usage patterns further, BOS found that there has been an organic decrease in these kinds of transactions and that players are gradually losing interest in credit cards. The association further reminded that the prevalence of problem gamblers was also low.

Finally, it should be noted that credit cards are still used to pay for a variety of products and services, including alcohol. Despite the fact that the potential for financial devastation associated with alcohol and gambling addictions may differ, both are serious disorders with severe consequences. Nevertheless, alcohol is being sold in Sweden to consumers who can pay with credit, despite the fact that 310,000 Swedish citizens suffer from alcohol addiction compared to 40,000 with gambling addiction.

Hoffstedt is also concerned that the regulated operators could find it difficult to continue channelization at a high speed, which has already suffered due to the new restrictions. In its statement, BOS recalled that the legal gambling business has already encountered a number of significant obstacles in recent years, such as epidemic limitations and a proposed increase in the gambling tax.

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