Today (14th April) marks the enforcement of the UKBC ban on credit cards for gambling across the nation.
According to a survey conducted by the payment provider, PXP Financial, punters born between 1965 and 1980, also known as “Generation X”, are most likely to use credit cards for gambling purposes. The study took place during this year’s ICE London gambling industry conference on a group of delegates.
On the other hand, Millenials are more prone to using debit cards and the combination of debit cards and e-wallet solutions. While 53% of those born between 1981 and 1996 use debit cards through e-wallets, only 29% of Gen X’s are using that payment option.
The results of the research were revealed only days before the credit card ban in the gambling industry in the UK. Over 50% of the survey participants across all ages believe how the ban will have a negative impact on the industry. The most negative projections are made by Generation X members as 67% of them believe that the future of the casino business will be negatively affected.
While 33% of those born between 1965 and 1980 believe how their generation is the biggest spender in the casino industry, the research shows how 52% of all questioned believe how it is Millennials who are taking over the spending in the gambling industry.