Three major UK banks are looking into options for setting financial controls for customers that suffer from gambling addiction in an effort to aid them from being substantially harmed from the issues.
The Royal Bank of Scotland, Santander Bank, and Lloyds Bank all revealed that they're investigating ways that they can help problem gamblers, with tools that will allow debit card transactions to be blocked out for betting. Other options include limits for sectors like betting, which could be useful as specific casinos don't have the ability to block transactions at sites outside of their own. Barclays has already introduced similar measures for their customers last year.
Problem betting has become a big issue in the UK, as many have been lured in with betting machines and rampant advertising. This has led to some operators and financial institutions becoming vested in fixing the problems themselves before regulators step in, although lawmakers have pushed back on some rules.
Speaking to betting site iGamingBusiness, a Lloyds representative said, "We have plans to support our customers who need help with gambling.
"Throughout 2019 we will be enhancing our customer communications so customers are informed and alerted to their gambling spend as well as introducing tools to improve self-service options such as gambling restrictions.
"New card controls give customers more control over debit card transactions for extra peace of mind. This will allow users to quickly and securely restrict card usage, for example if a card has temporarily been misplaced or to avoid a card to be used in certain ways."
Source: iGaming Business