While more than 80% of Australians enjoy casino games legally, gambling in South Korea can get you in jail.
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Do not use chargeback for online gambling losses – it never works as with other refundable services. You must accept the fact that there is no way of getting your money back. You played, you lost, and that’s the end of it; it’s called “gambling” for a reason. Disputing Debts: Online Gambling Chargeback. By doublekk in forum Debts and Collections Replies: 1 Last Post:, 10:09 PM. If these three elements are present the activity is “gambling” and is illegal unless legislatively sanctioned. Illegal gambling debts, for example, cannot be legally recovered as they are not valid debts under the law. The same can be said of any debt deriving from illegal activities. Gambling devices, gambling, etc. But soon, his debts escalated into a gambling addiction and £30,000 that he worries he will never pay off. The 37-year-old tells Metro.co.uk: ‘I’d not done much betting before so I read up a.
China and the US have strict regulations for the industry, often allowing very few gambling sites in each state.
By contrast, the UK has been reaping the benefits of online gambling for over 15 years. Not only is it legal to gamble online in the UK, but it is also a part of the region’s sports culture. Visit any top premier league football club. There are banners, ads and sponsorship-related promotions from betting companies.
Why is online gambling legal in the UK and illegal in the US? Find out below, including how Britain ensures it leads the world in providing gambling related services.
The Basics
The legal age for gambling is 18 years. This applies to both online and offline gambling. It doesn’t matter what games are played-betting lotteries, bingos or casino game providers must follow the rule. The only exception comes to lottery and football pool games in offline gambling as 16 years is the legal age limit.
Online casinos have the responsibility to use ethical means when advertising. They can’t spam Internet users or target children. They also shouldn’t use misleading words and promises. Breaking the rules attracts hefty fines and prosecution.
An online casino is not considered a gambling site if it does not offer monetary rewards to winners. That means sites that reward players with video game skins instead of money are not casinos. The rule may not last long though as there is increasing monitoring of sites with near similar features to traditional gambling sites.
The Gambling Act 2005
Although the UK has supported online gambling since the 1990s, its Gambling Commission was not launched until 2005. The Commission got full powers in 2007 and got added powers to regulate national lotteries in 2013.
Any casino that wants to launch services in the UK must acquire a license from the commission. Players can also make complaints if they suspect a gambling site is involved in illegal activities. Compared to other regulators, the UK’s gambling commission ranks high amongst the most respectable commissions. Gambling on any casino regulated in the UK should give you comfort knowing you are protected from a casino’s misdeeds.
Taxes
You don’t pay any taxes when you win on any UK-based online casinos. Unlike in the US and most countries around the world, what you win on a UK online casino is 100% yours. Visit any newcasinos.com casinos and try your luck with games. If you win, there are no questions asked. You get all the money wired to your account.
The Gambling commission taxes the gaming sites instead. Casino-game gambling sites pay 15% of their profits. They share the same rates with betting sites. Companies that offer financial spread bets pay 3% of their profits as tax while 10% is paid for other spread bets.
Despite not taxing players, the UK made more than $3.5 billion in 2017, a 100% increase from ten years ago. When you think about it, The UK’s tax rate isn’t high. Some European countries like Germany and France tax gambling sites in the upwards of 50%. The low taxes in Britain have obviously been beneficial to the region as evidenced by the gambling industry’s high growth.
Payment Methods
UK-based casinos are some of the most innovative in the world. If there is a popular, good payment method anywhere, be certain it’s supported in an online casino in the UK. Visa and MasterCard are two of the most popular credit card payment options. Almost every casino supports them.
PayPal is not supported in all online casinos due to chargeback issues. But more than half of online casinos support the payment method. If you are not a PayPal user, you have the option to use Neteller, Payoneer, Stripe, Google Pay and other Internet-based payment methods.
Bitcoin, which wasn’t popular until a few years ago, has also taken many online casinos by storm. With the emergence of bitcoin-only gambling sites, every Internet-based gambling site accepts the cryptocurrency. Besides bitcoin, most of the platforms accept Ethereum and other major digital currencies.
Sports Betting
It’s hard to think of any other country with as many international betting sites as the UK. Betfair is both a pioneer and a leader in the betting world. 888sport is one of the largest gambling companies both in the UK and the US. Ladbrokes, Betfred and Williamhill also have significant market shares throughout Europe.
UK-based players have a wide range of options when it comes to betting. The leading gambling sites also sponsor local sports league, marketing their services to sports fans countrywide. Besides variety in the number of betting sites, the gambling companies offer multiple wagers and win options.
Progressive jackpots are held weekly and you can bet in almost anything that is related to sports. You can wager on the number of goals, players, game outcomes, tournaments and cards produced by referees. Football is not the only sport you can bet on. The UK is home to some of the world’s most famous games in the world. From rugby to tennis, eSports to golf—all popular games are supported.
Gambling Post-Brexit
In the last one year, a few online gambling companies have come out threatening to leave the UK should Brexit hurt their businesses in any way. So far, none of the companies is yet to leave—meaning they still value the UK market.
Some people have argued Brexit may hurt job opportunities for people living in Gibraltar and the Isle of Man. The two UK territories act as headquarters to some of the world’s largest gambling sites and employ people from around the world. In spite of the challenges, the online gambling industry in the UK is expected to continue growing.
To Conclude
Britain is one of the world’s largest hubs for online gambling. The biggest betting sites started in London, Gibraltar and other UK territories. Good tax laws, a strong regulatory commission and a favorable market have helped the industry continue growing over the years. The threat of Brexit may lead to the exit of some companies but most gambling sites will continue serving UK customers.
If you’ve been denied a refund – whether for a holiday or at home – a little-known scheme could help you get your money back.
Since the coronavirus pandemic began we’ve seen a huge increase using our chargeback and Section 75 claims tool – up 900% in March and April, compared to March and January.
With many businesses refusing to offer refunds, in direct contradiction of the law, their customers have turned to banks and card providers.
Time limits and conditions apply to each and every chargeback claim, however, with ordinary people unaware that these rules exist and reliant on their card provider to fight their corner.
Here, we unpick the complexities and explain what to do if you think your card provider has made a mistake.
What is chargeback?
Chargeback is a card refund initiated by your bank when you’ve reached an impasse with a business (referred to as the ‘merchant’).
It can be used for credit, debit and prepaid card payments of all sizes.
Unlike Section 75, chargeback isn’t a legal protection, although our Twitter poll suggests that only half of people are aware of this.
▶️TRUE or FALSE: Banks must legally process my chargeback request if I think the retailer has acted unfairly
— Which? Money (@WhichMoney) May 15, 2020
Chargeback can only be requested under specific circumstances known as ‘reason codes’, as determined by guidelines set by American Express, Mastercard or Visa. For example, Visa’s dispute code 13.1 relates to goods or services that were not received (the Mastercard equivalent is code 4853).
As these codes aren’t advertised to the public, you’ll need your bank to ask the right questions
Chargeback deadlines
Chargeback is subject to strict deadlines.
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In most cases, such as defective goods, your bank will need to start the process within 120 days of the transaction date.
Or, the claim can be raised 120 days from the date you were due to receive the goods or services (such as a flight) – up to 540 days from the transaction days.
Around half of the Twitter users we polled were unaware of any deadlines.
▶️TRUE or FALSE: I can request chargeback at any time
Chargeback Gambling Debt Uk Debt
— Which? Money (@WhichMoney) May 15, 2020
Deadlines also apply during the chargeback process, if your bank needs you to provide evidence.
Crucially the merchant will have an opportunity to defend the chargeback and provide its own evidence, as you can see from the infographic explaining the chargeback process below.
Chargeback refunds if a company ceases trading
If the retailer has gone bust before delivering the goods or services you paid for, the 120 day window starts from either the official insolvency date, or the date the goods were expected. Ask your bank which date applies.
If you have accepted vouchers (eg for a future flight) and the merchant subsequently ceases trading before you can use them, your chargeback claim window is:
- Visa 120 days from the original date of the service.
- Mastercard 120 days from the voucher or merchant-branded gift card’s expiration date, or if undated, then 540 calendar days from the processing date of the original transaction.
If you have an annual subscription, eg to a gym, and the merchant stops trading, you must request a chargeback within 120 days of services ceasing, up to a maximum 540 days of the original transaction.
Refunds for unused gift cards are generally 120 days from the expiration date printed on the card.
If there is no expiration date printed on the card, Visa’s deadline is 540 calendar days from the date of the original transaction, whereas Mastercard gives you 120 days from when retailer was declared insolvent.
Amex has not responded to our questions, although it does operate a chargeback scheme.
How *not* to make a chargeback claim
Don’t go straight to your bank Unless it has gone bust, you must always attempt to resolve the dispute with the seller in the first instance (unlike Section 75).
Don’t ignore requests for evidence If you miss these deadlines, the money will be returned back to the merchant. So ask your bank to make these dates clear to you at the outset.
Don’t celebrate too quickly Your bank may temporarily credit your account with the disputed funds while it investigates, but this money could be removed if your claim is unsuccessful.
Avoid recovery agents
We don’t think firms such as My Principal Chargeback, Mychargeback.com and Winchargeback.com are worth bothering with.
You could pay £750 to use these companies, even though making a chargeback claim with your bank is free. Furthermore, banks we’ve spoken to won’t deal with recovery agents.
We’ve also seen dodgy looking reviews for these agents; recycling identical language under different ‘customer’ names. Mychargeback and Winchargeback say they are not responsible for any fake reviews. My Principal Chargeback did not respond to our request for comment.
What if my dispute is unsuccessful?
If a decision doesn’t go your way, you can appeal to Mastercard or Visa for a final decision if your bank agrees there is further evidence to continue the claim.
You can also make a formal complaint if you think your bank has failed to handle your case appropriately, and escalate this to the Financial Ombudsman Service (FOS) if you’re still not happy with its response.
Published FOS complaints show that banks can make mistakes. We’ve seen cases where banks were ordered to compensate customers because they: gave the wrong information about timescales, ignored additional evidence supplied by cardholders; and failed to recognise that they can use chargeback even where a business is no longer trading.
- Find out more: how to take a complaint to the Financial Ombudsman Service
Chargeback and fraud
Although banks can use chargeback to recover money lost to card fraud, you are entitled to an immediate refund in these circumstances under the Payment Services Regulations.
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That applies payments you didn’t authorise (the most you can be liable for is the first £35 of losses arising from the use of a lost or stolen card), as long as you report it promptly and (in the case of debit card fraud) haven’t been ‘grossly negligent’ with your Pin or security details.
There’s a high threshold for this negligence test and it only applies to debit card fraud, not fraudulent credit card payments or fraudulent debit card payments that take you into your overdraft.
- Find out more:How to complain about unauthorised transactions on your card
First featured in June’s Which? Money magazine
Also in this issue: we meet the fraud fighters, an explanation to insurance add-ons and our analysis of the best and worst investment platforms.
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