HSBC extends gambling block to 3 days
HSBC has announced the extension of the cooling-off gambling block to 72 hours over fears of financial vulnerability. HSBC has also increased the duration of the block because of the British Gambling Commission’s data regarding the increasing figures of online betting and active gambling accounts. These numbers seem to be on the rise as the months pass by due to individuals working from home because of the COVID-19 pandemic.
HSBC is mostly taking its customers’ mental health into account by integrating the new gambling block. Basically, this three-day block acts as a cooling-off period when individuals feel like they are having a hard time controlling their gambling habits. The block was actually introduced in 2019 and is on its way to changing the data.
Players can start up the block themselves by using the HSBC app, through telephone or by visiting their local HSBC branch. Permitting customers to manage their cards has and will always be beneficial and helpful for their financial stability as well as their mental health.
Anna Hemmings, GamCare’s Chief Executive, has proposed that the personal blocking “is an important tool for those struggling with their gambling and is ideally used together with other practical tools such as self-exclusion, blocking software, and specialist support around the issue”.
She also remarks that GamCare has been creating practical tools for individuals who feel as if they need some help; especially via GamCare’s ‘TalkBanStop’ campaign.
University research has proven that cooling-off periods are extremely important for the gambling block to be successful, seeing as this limits the impulse to gamble again. Maxine Pritchard of HSBC UK thinks that these changes “will help give customers time to pause”.
Affiliates should keep an eye out for this and the Gambling Commission’s data for the entirety of the year.