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    HSBC to assist British customers with blocking of gambling sites

    HSBC to assist British customers with blocking of gambling sites

    Author Jonas Riis Vestergaard Published Published 28/11-2019

    HSBC have made it clear that they intend to help their customers to block their ability to make deposits to online gambling websites. This new service will be part of the customer bank accounts and will see it stopping money from being allowed to be deposited to online casinos and sportsbooks.

    Figures that were released by HSBC said that 3.44% of their almost 15 million UK customers had placed a wager at an online casino during 2019. What was most startling about the figures they released was that the average wager placed was almost $70!

    A new way to self exclude

    Self exclusion is usually carried out through the gambling website itself, but HSBC feel that this is a more effective way to manage it. The new system has been created with GamCare and GambleAware. This new system means that it will create what they call positive friction. This means that it will put a barrier in place that will cause gamblers to think about whether they should place their deposit before they actually do it.

    Improved methods

    The Head of vulnerability at HSBC made a statement to newspapers about the new enterprise. She said that they feel the new system will be more effective to their customers when it comes to self excluding. Because it stops deposits at the source, it means that customers can’t just sign up to a new casino to get around a self exclusion. She feels that this will help customers to manage their finances better and will help problem gamblers manage their problems much more efficiently.

    Increases in problem gamblers

    This latest idea from HSBC comes not long after NatWest announced that they will be offering counselling services inside their branches. These counselling services will be offered to people who are suffering with gambling addiction. These two new services also come after Starling, Barclays and Monzo all announced that they would be offering a similar service to the HSBC service. It also comes after PayPal promised that they would begin to take more control over how their service is used after it was found some gambling addicts were using PayPal to spend almost $200,000 a day at online casinos.

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