Spelinspektionen calls for ban on gambling with credit cards

Spelinspektionen calls for ban on gambling with credit cards

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Spelinspektionen calls for ban on gambling with credit cards

The Spelinspektionen has recently proposed a restriction on credit card usage for various gambling products in Sweden.

The regulatory authority’s latest proposal came in response to a study conducted by the Swedish government in mid-summer, which covered the topic of high-risk lending. The government’s investigation proposed a ban on using various forms of debt for gambling across all of Sweden’s licensed operators, which the Spelinspektionen has recently announced its support for.

The new prohibition would further solidify the country’s stance against utilizing borrowed funds for gambling, as the Spelinspektionen has previously stated that its licensees may not encourage their players to take on debt to finance their gambling behaviors. This goes against the legal duty of care that licensed operators in Sweden are responsible for, which the recently proposed ban will clarify in writing.

However, in contrast to its proposal to ban the use of credit to gamble, the government’s study did not propose a ban on the use of credit cards. The regulator stated in its announcement that while a few challenges could arise from such a ban, its benefits would outweigh the disadvantages. The Spelinspektionen mentioned that credit cards are widely used by the country’s licensed operators and that banning them from the pastime could be an excellent way to highlight that gambling with debt is undesirable.

Lastly, the regulator also proposed the creation of a debt register in the country, which would aim to help problem gamblers who have taken on excessive amounts of debt because of their gambling behaviors.

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