Illinois Regulator Approves Ban on Credit Cards for Gaming
The Illinois Gaming Board has announced a plan to ban the use of credit cards for funding online betting and gaming accounts.
LISTEN TO THIS ARTICLE:The regulator introduced the new rule following a comprehensive review of Illinois’ sports wagering practices as the state marked five years of regulated online sports betting.
Illinois launched its mobile sports betting market in March 2020, becoming the eighth state in the US to do so.
As part of our review, we determined that prohibiting the use of credit cards to fund sports wagering accounts is a justified and impactful advancement in Illinois sports wagering. There is a growing body of recent research showing that restrictions on credit usage to fund wagering accounts encourage responsible gambling and mitigates the harms of compulsive gambling.
The newly adopted rule will supplement Illinois’ existing credit card and gaming regulations. The state currently prohibits using credit cards for casino and video gaming bets.
The next step for the rule before implementation is to be reviewed by the General Assembly’s Joint Committee on Administrative Rules (JCAR). The committee will open the proposal up for public input before granting its final approval.
If the rule is approved, Illinois will become the seventh state to ban credit cards for betting, joining other markets like Iowa, Massachusetts, and Tennessee.
More Regulation News
Cashless Wagering and Record Keeping
Alongside the credit card regulation, the IGB also adopted two new rules: cashless wagering in Illinois casinos and record-keeping requirements for video gaming sales agents.
The first regulation permits players to use digital casino accounts or wallets to place bets, cash out, or withdraw electronic credits at all 17 physical casinos in the state. However, the rule would be subject to the credit card ban.
The second rule proposes amendments to Video Gaming Rule 1800.265. It mandates sales agents and brokers to keep specific records and documents related to their video gaming activities.
These rules have also been forwarded to the joint committee for final review and approval.
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