Sweden Considering Banning Credit Cards For Gambling

This week it was revealed that Sweden's Ministry of Finance is recommending the ban of credit card transactions for gambling as part of its report regarding risky lending and over-indebtedness.

The country already has a ban in place for most types of gambling, except for lottery and soft game operations. This new ban would cover all types of gambling, and would prohibit allowing indirect payments.

Previously, the Swedish gaming regulator Spelinspektionen has called for an end to the credit card loopholes, saying that it goes against the gambling market's principles.

The report took a look at various aspects of Swedish society in order to make recommendations regarding the amount of debt residents carry. The report looked at possibly capping interest rates, penalty charges on all credit outside of mortgages, fees, and more. There is over SEK 202 billion worth of debt in collections in the country, which is a historical high.

If there were to be a change to the gambling rules in the country, it must go through parliament to be passed. It likely will be some time before such a ban is implemented.

Casino Listings News is following this story and will be updating readers as we learn more.