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Neil McArthur

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Born Irlam
United Kingdom
Alma mater University of Essex Colchester Campus
FoundedTalkTalk Business
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Neil McArthur Life story


Neil McArthur MBE FIMechE FIET is a British businessman, the founder of Opal Telecom, former MD of TalkTalk Technology, and now head of group innovation for TalkTalk.

To be gambling on credit cards to get banned

Feb 16,2020 5:14 am

people who are banned to place on the use of credit cards to bet in an attempt to curb the game, the problem Gambling Commission has said.

The ban, which begins on the 14th of April, comes following reviews of the industry, The Commission and the government.

a total of 24 million adults in the UK play, with 10. 5 million of them do so online.

a Separate Commission research shows that 22% of online players are valid credit card as problem gamblers.

Neil Mcarthur , Gambling Commission chief executive, said: "credit card play can lead to substantial financial damage. The ban, which we have announced today should be the minimization of the risks of consumer harm from gambling with money you don't have

"We also know that there are examples of consumers who have accumulated tens of thousands of pounds of debt through gambling because the credit card availability.

"There is also evidence that the fees of credit cards can make The Situation worse, because the consumer can try to hunt you down, losses to a greater extent. "

culture Minister Helen Whately , said: "While millions of responsible, looking I met people whose lives are turned upside down, of game.

"There is clear evidence of injury from consumers betting with money you don't have, so it is absolutely right that we act decisively to protect them. "

A problem of the players, Chris Murphy , told the BBC that he had lost More Than £100,000.

Chris Murphy says he felt as if he would never be free of his game.

He tried to quit for More Than 10 years, but says to expires able to play it on a credit card, have made it easy, again.

"There have been times when I have been playing for free for months, And Then a little borrowed money from to say pay day loan Website, or a credit card, and woke up the next day lost All my money and created a couple of thousand pounds worth of debt. "

"It gave me the feeling that I would never be free," he said.

The ban applies to All online and offline gambling products, apart from lotteries run for the good cause. These lotteries have a significant layer of additional protection for vulnerable people.

The Commission said that the tickets for these lotteries, as well as for the National Lottery that can be purchased, to the use of credit cards in supermarkets and newsagents, as long as they are bought with other products. to stop

He said it would be a "disproportionate burden for the trader" payments by credit card, if the tickets were part of a larger business, but said lotteries had looking for the lowest game rate.

'I'll Take Me 10 years to pay off my debt" For Josh, betting has to rely on his credit card, has him in thousands of pounds of debt

When Josh, 27, was £600 down after only a few days of playing online with his credit card, he says, he had "the worst of what is possible".

"I chased the loss, everyone says to do, they say stop, don 'T chase losses, you will always be there in the Long Run ," he says.

"But I don't think it I will be so transported only. It is developed to realize Without Me at All , to Between £20,000 and £25,000, All on credit cards.

"I think I'm someone who is more intelligent than someone who would not do that. I'm not that person. But I was. "

Now, Josh is in view of the fact that its liabilities have a long-term effect on his life.

"I'm looking for eight to 10 years to pay off," he says.

Share prices of betting companies sank in early trade on Tuesday, but then quickly recovered.

Under the new regulations, All online gambling operators to participate in the Gamstop self-exclusion scheme, and offer it to All customers as of 31. March.

people who are detained for Gamstop, with UK-gambling-websites and apps for a chosen period of time.

Brigid Simmonds, Chairman of the betting and Gaming Council (BGC), said that the panel of industry "welcomed the strong," the requirement for All companies to join GamStop.

she added: "We are implementing ban the use of credit cards, the checks in addition to measures such as age verification, markers of damage and financial viability, additional funding for research, training and treatment, and new codes of conduct for the protection of the consumer. "

Adam Bradford , co-founder of the Safer Online gambling group, said that while the credit card ban was the "welcome", there is no miracle "weapon to solve the problem of how the gambling industry still needs to improve in many areas - for example, better performance affordability checks on players and More Than careful with their advertising."



credit cards, personal finance, gambling, personal debt

Source of news: bbc.com

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