Recent government-led regulations in the name of “consumer protections” against “predatory” online casinos have greatly restricted online gambling activity, hurting responsible gamblers. Government overreach doesn’t really fix the problem of compulsive gambling, especially when people can move their wagers to offshore casinos and in-person casinos.
The war on happiness continues, this time with government overreach that not only bans credit card deposits but also limits deposits with prepaid and gift cards. Weeks ago, I wrote about BetMGM limiting new credit cards and shortly after, several Pennsylvania sites, including BetMGM, then limited debit and prepaid card deposits to three per 72 hours. Several New Jersey sites also instituted daily limits, as low as $500 a day.
The Restrictions Are Expanding Beyond Credit Cards
This is no longer just about credit cards; it has morphed into how all gamblers, even responsible gamblers, choose to fund their accounts and how much they want to play. It’s OK to bank transfer thousands of dollars into sites like DraftKings, but then it’s somehow not okay to deposit four DraftKings gift cards in a 72-hour period.
For responsible players, online gambling has been a reliable way to earn casino statuses, credit card rewards, and bonuses for deposits and play, but this is becoming harder to scale and remain meaningful in light of limits.
Responsible Gambling Tools Already Exist
Governments want to step in and limit activity in the name of responsible gambling, but responsible gambling tools have been frequent reminders, well before strict limits on deposits and credit card usage. Without government help, you can limit your own deposits through settings available on all state-regulated gambling websites.
Even when not trying to limit myself, I would receive pop-ups about responsible gambling reminders and questions like “Would you like to set a budget?” “Would you like to set a daily limit?” etc. Online casinos also frequently display ‘reality checks,’ pop-ups that say things like ‘you’ve been playing for 30 minutes and have wagered x amount.’ Cooldown periods, self-exclusion, wager tracking, and more are other tools already in place to facilitate responsible gambling.
I don’t need the government to step in and limit me in the name of ‘protection,’ especially when I can choose to do this myself, and I’m responsible with my gaming.
Problem gambling isn’t going to go away because of new restrictions
Forced limits in the name of consumer protection really do not solve the problem of compulsive or irresponsible gambling. Gamblers can play, without new limits on state-regulated casino sites, on offshore sites (often with far fewer consumer protections, especially when people get stiffed) and go to in-person casinos (where drink servers continue to provide comped alcohol, ATMs charge high fees, people play Triple Zero Roulette and 6:5 ‘Blackjack,’ casino credit, and credit card cash advances are readily available).
It’s okay for grandma to lose thousands from her Social Security checks and savings on Slots inside a physical casino, playing with a huge disadvantage and maybe walking out with a ‘free blender,’ but Justin can only deposit $300 per 72 hours on DraftKings, allegedly for his own protection. People with serious gambling problems won’t be remedied with online limits because they’ll still gamble regardless until they fix the core problem.
One-size-fits-all blanket restrictions on deposit limits hurt responsible gamblers. For years, others and I have been encouraging and participating in responsible gambling. I pay credit card balances in full. I play my deposited funds once (win, lose, or draw) and don’t chase losses. Why should I be limited, just because others may play irresponsibly?
Another argument against credit card deposits and higher deposit amounts, advanced by Ohio lawmakers, including Rep. Gary Click is that people “want to be protected from predatory advertisements and predatory gambling in Ohio, because the house always wins.”
This argument fails because not everyone thinks casino advertisements are “predatory,” especially people like myself who welcome deposit bonuses and casino offers while playing responsibly.
The House Does Not Always Win
For instance, with good Blackjack rules, the house has about a half-percent advantage, but with a simple deposit bonus like “gain $20 for depositing $200,” the player has about a $19 advantage (America Loves Math) on a promotion that only requires 1x playthrough. One can further stack, especially if they use the BetMGM credit cards to deposit (no cash advance fees), also earning 1x freeplay or comps and Tier Credits. Perhaps some may use a credit card to purchase a gift card or prepaid card to fund a gambling site, earning 5-10% back or more with bonus categories and in-store promotions.
Rep. Click misses the bigger picture of online gambling and seems to bring his personal anti-casino biases into legislation rather than giving people freedom of choice to gamble how they want. Some may even gamble for ‘entertainment reasons’, still gambling responsibly, being okay with giving up a few percentage points of house edge rather than going to an expensive restaurant, buying concert tickets, or golfing. It’s not all ruin that leads to a gambling problem, where “people want consumer protections.”
Better Solutions Than Blanket Limits
Rather than banning credit cards and limiting deposits, online sites, without blanket government regulations hurting responsible gamblers, can add more tools for responsible gambling like opting out of credit card deposits, warnings about credit card interest and fees, and other reminders in addition to the existing tools and reminders.
The goal of limiting problem gambling is good, but implementing blanket bans on credit card deposits and adding strict deposit limits hurts responsible gamblers and ultimately doesn’t fix the issue of problem gambling, especially when problem gamblers can use offshore sites with limited protections and gamble in-person with fewer of the online ‘protections’ government officials claim are so important.
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