It is potentially the biggest non-issue of our time, a
default daily limit on debit card gambling transaction spend.
We are a nation of gamblers, millions put a bet on at least weekly,
and we are told that most bet small, within their means, and they love the
thrill and excitement of a bet. Social gamblers you might call them.
The very vast majority of these people would not come up
against or even be aware of a default policy where perhaps daily gambling
transaction spend would be limited to the same amount as say ATM cash
withdrawal limits.
For those who are in the throes of gambling addiction, or
more importantly those at risk of their gambling escalating out of control,
having a hard-stop limit adopted by all the banks would act as a brake, some friction,
and a point of interaction.
Ultimately a bank is not a counselling service but using big
data, transaction history, analysis of gambling transaction spend over time, the
interaction itself, perhaps even the individual self-identifying or the mood
state of the customer they may be able to interact early on to signpost
somebody at risk to organisation’s that can help them.
If a person simply chooses to gamble with their own funds,
the limit could be removed, the bank would have exercised duty of care.
Additionally this measure would protect against fraudulent
use of accounts for gambling transactions, it would offer protection to
families with joint bank accounts where perhaps the partner doesn’t know about
their other half gambling addiction or escalation of gambling.
I even believe this measure will help the gambling operators
as they move to a sustainable safer gambling model where the bulk of the profit
comes from people who spend within limits rather than cases of people losing
£6,000 in 30 minutes. (the latest horror story I heard)
For safer gambling to become a reality we need to interact
earlier on in the journey of people’s gambling escalating. Having a default
daily limit on debit card gambling transaction spend will help in a non-invasive
way for the majority.
Tony Franklin
GamblingHurts
