As human beings, we have nature to take risks making us feel excited and thrilled. These feelings push us to engage in various activities especially when they can provide potential rewards. In gambling, people have a wide choice to trigger an adrenaline rush with different gambling activities. Despite loads of fun provided by this popular form of entertainment, too much time and money spent on this activity can also lead to problems. In the UK, more than 2 million people experience compulsive gambling or at risk of developing harmful addictions despite the strict gambling regulations implemented there.
This gambling awareness has, therefore, become the most important consideration for many countries and lots of support is available to prevent gambling harms. Apart from the severe laws and self-excluded schemes, block gambling transactions are also an effective solution to minimize the possibility of being an addicted player. There are features that allow them to block their account from being used for transactions on gambling. Since these options are gaining in popularity, how to use them?
New Measures to Block Gambling Transactions
To limit gambling transactions, the British financial area has changed its policy. This modification was established in the purpose to control their customer’s behavior and to bar uncontrollable customers from using big budgets. In fact, several financial institutions introduced features to let the customers block their gambling transactions on their credit and debit cards.
With the impact of gambling that is affecting the financial status of the addicted gamblers, the institutions’ initiative to reduce the players’ gambling is implemented. One of the methods introduced in the banks is Gambling Block. As gambling and betting have become threats to the financial industry, this measure is launched to block the bettors’ transactions. Apart from blocking their cards, Gambling Block is also utilized to uncover the casino platforms’ identities that do not apply KYC verification.
How do these features to block gambling transactions work?
The good news to the consumers is that the credit and debit card block will be activated immediately. However, the procedure varies depending on the bank the punters choose. Some financial institutions’ processes can take more than two business days. In some cases, the first step that the gamblers have to do is to make a request. For some companies, the customers have to choose the period of time they want to be blocked.
Moreover, some banks presented a mobile application that is easier to use. The benefit of utilizing the application is the flexibility to control the customers’ financing enabling them to choose their spending on gambling. Those who use MasterCard will be banned from moving funds on gambling sites. This measure requires a mobile app allowing the users to limit the endless of their gambling activities. As a matter of fact, these types of blocking options depend on the financial institutions so that those who want to bar themselves are required to understand the policies of their chosen banking companies.
To lock the credit card, the users have to download the app which is also available for those who use mobile devices. Then, on the screen, there is an option ‘Lock card settings’. So, after hitting it, select the ‘Gambling transactions’ to deactivate the transaction. Once receiving a notification reminding that your card has been locked for gambling transactions, all the gambling operations using the card will be stopped.
GamStop (Self-exclusion Scheme)
Gamstop is linked with the blocking transactions on the gambling industry in the UK. This free organism is actually a scheme to help the problem gamblers by allowing them to prohibit themselves from all the licensed gambling operators in this sovereign state. Launched in 2018, this not-for-profit organization was launched to reduce the problems related to gambling there. To be banned on gambling platforms, the players who feel to develop a gambling problem are required to sign-up at Gamstop.
Once their registration is approved, they are asked to choose the limit of their prohibition for 6 months, 1 year, or 5 years. During their chosen period, they cannot have access to the websites. When the period has expired, the gamblers are able to remove their exclusion at Gamstop or join websites not included in Gamstop, and after the approval; they are allowed to play at the platform again. Aside from providing a self-exclusion scheme, Gamstop also offers other services still linked with the gambling. In fact, this national self-ban project is also responsible for helping people who experience problems related to gambling.
This program includes practical, emotional, and debt supports. To enforce the gambling regulations, all the gambling operators who run their businesses in the UK must participate at Gamstop project and those who are found failures in integrating on this self-exclusion scheme will be penalized by the UK Gambling Commission.
Gambling harm has been identified as a real concern in the UK affecting the financial status of the gamblers. With the gambling industry growth, some punters and gamblers spend a lot of money without controlling their finances. That is why the options for blocking gambling transactions were released to minimize this problem and prevent the vulnerable bettors from spending a large amount of money on this activity.
When they are worried about how much they are spending on gambling, they just block their transactions. Today, various options are available when it comes to blocking transactions related to gambling. Some financial institutions launched new measures in order to help the pathological gamblers. With the system to block the credit and debit cards, the bettors can immediately stop their transactions. Apart from that, there is also a mobile application that allows the players to manage their finances at their convenience.
With this app, the customers are able to choose the amount of money they will spend on gambling. Furthermore, as gambling has become an integral part of people’s lives, problems associated with this field have also increased. The more time a player spends on gambling the higher is the risk to become a compulsive gambler. Blocking gambling transactions is one of the keys opted to restrict gambling spending.