On Tuesday a law banning credit card gambling came into force in Britain. Just like everything else in the betting industry its significance is captured in numbers first: Flutter Entertainment, the parent company of Paddy Power/Betfair, said that this change in legislation would reduce its core profits by between £14 million and £17 million a year; William Hill, another giant of the high street in the UK, reckoned on a £5 million to £10 million hit to their profits, a calculation they had made before the coronavirus shut down sport and betting shops. When the UK Gambling Commission and the Department for Culture Media and Sport conceived this legislation those kind of figures would have framed their thinking: the comparative ease of credit card betting

Source: The Times April 18, 2020 22:57 UTC