The United Kingdom has seen a drastic rise in problem gambling, especially since the COVID crisis. Players have been spending more money and more time playing real money games, resulting in large losses and a growing number of addictions in the country. Problem gambling is one of the main concerns in the UK and steps are being taken to provide more secure environments for players as well as ways to set limits when conducting transactions.
Many British banks have started to offer gambling block software to help with the problem. More customers have started to use this software to battle the issues surrounding inflation, the increase in energy prices, and the overall economic status.
Monzo was one of the first British banks to offer gambling block software to those in the UK. The number of customers that are using the software has increased over the past few months and there has been a 20% increase in blocked transactions in the past year. Natalie Ledward, the head of vulnerability access and inclusion at Monzo, stated that tools like gambling blocks are important for customers that need support. It can help those that are vulnerable and can also help to combat the problem gambling in the UK.
Aside from the tool offered at Monzo, Lloyds Bank is another financial institution that offers similar options. This bank, along with NatWest, has introduced tools that can completely block gambling transactions and can also allow customers to set personalised gambling limits. PayPal has also jumped on board and has an agreement with Gamban to allow UK users to block gambling payments.
Popular UK Deposit Methods
Online casinos operating in the UK will allow players to use a variety of options to conduct deposits and withdrawals. While many will prefer the convenience of using a debit card or a bank transfer, there are other safe methods to choose from. As mentioned above, some options, such as the popular ewallet PayPal, will also provide tools to block gambling transactions.
Due to current UK gambling laws, players are not able to use a major credit card to manage a casino account online, However, debit cards are still accepted. There are also many options for ewallets, including PayPal, Neteller, and Skrill. Some other popular methods that are being used by players include prepaid cards. With these, one can only deposit the amount that has been loaded on the card, so it can be a great way to limit how much is spent while gambling online. Paysafecard is a leading choice for many in the UK.
Crypto casinos have become quite popular in the past few years. At these sites, players will be able to conduct payments using secure currencies like Bitcoin, Litecoin, Ripple, Tether, Ethereum, and others. These are known to be some of the safest methods for managing real money accounts.
No matter what options gamblers choose, many casino sites in the UK allow paypal payments. They also will process payments using the latest encryption software to ensure the safety and security of users. Each website will also have tools that allow one to set deposit limits so they can manage their spending.