What is a Gambling Block?
A gambling block is a feature offered by some banks and financial institutions that allows customers to restrict or prevent gambling transactions on their accounts.
This responsible gambling tool is designed to help individuals manage their spending and potentially curb problematic gambling behavior. Gambling blocks can be applied to various financial products, including eligible personal credit cards, debit cards, and sometimes even entire bank accounts.
This can include online casinos, sports betting websites, physical casinos, and lottery ticket vendors. The block identifies and declines transactions based on the merchant category code associated with gambling payments.
How Do Gambling Blocks Work?
Gambling blocks function by utilizing the merchant category codes (MCCs) assigned to businesses. When a customer attempts to make a purchase, the merchant's MCC is transmitted as part of the transaction authorization request.
If the MCC corresponds to a gambling-related business and a gambling block is in place, the transaction will be declined.
The block applies to both online and in-person transactions, provided the merchant is correctly categorized. Some gambling-related transactions may slip through if the merchant is miscategorized or uses a different MCC.
Gambling blocks can be applied to various financial products:
- Credit Cards: Most commonly, gambling blocks are available for credit cards. When activated, the block prevents the use of the card for gambling transactions.
- Debit Cards: Some banks offer gambling blocks for debit cards, which operate similarly to credit card blocks.
- Bank Accounts: In some cases, banks may offer gambling blocks that apply to entire deposit accounts, preventing transfers to known gambling merchants.
Benefits of Using a Gambling Block
Implementing a gambling block can offer several benefits to individuals seeking to manage their gambling habits or protect themselves from potential gambling-related financial issues.
- Gambling blocks provide a barrier to impulsive betting behavior. By making it more difficult to access gambling services, individuals may have more time to reconsider their actions before engaging in gambling activities.
- These blocks can serve as a practical tool for those actively trying to overcome gambling addiction. By restricting easy access to gambling services, individuals can focus on their recovery without the constant temptation of readily available betting options.
- Gambling blocks can help prevent financial hardship related to excessive gambling. By limiting the ability to use credit or debit cards for gambling transactions, individuals can avoid accumulating gambling debts or depleting their savings.
- For parents or guardians, gambling blocks can provide peace of mind by preventing underage individuals from accessing gambling services using a family member's financial accounts.