Ohio May Ban Credit Card Funding for Sports Betting and iGaming Accounts

(AsiaGameHub) –   Ohio could soon block credit card deposits for online sports betting and iGaming accounts. The proposed rule change comes as more US gambling regulators look at payment methods through a responsible gambling lens.

Good to Know

• Ohio wants to remove credit cards as a funding option for sportsbook and iGaming accounts.
• Public comments on the proposed rule are due by 5 p.m. EST on May 15.
• DraftKings, FanDuel, and bet365 have already phased out or started phasing out credit card funding.

Ohio Casino Control Commission Targets Credit Card Betting Deposits

The Ohio Casino Control Commission has proposed a rule change that would stop players from using credit cards to fund deposit enabled sports gaming accounts.

The proposal comes through an amendment to Sports Gaming Rule 3775-16-03 under the Ohio Administrative Code. Regulators placed the rule into the Common Sense Initiative process and asked stakeholders to review it before formal filing begins.

The Commission said:

“The Commission is proposing to amend Sports Gaming Rule 3775-16-03 to remove credit cards as a funding option for deposit-enabled accounts. Stakeholders are encouraged to review the changes,”

Ohio also gave operators, consumers, and other stakeholders a direct comment window. The Commission said:

“If, in the end, you choose to submit comments, please do so by submitting them in writing to the Commission at rulecomments@casinocontrol.ohio.gov by 5 p.m. EST on May 15. While you will have some additional chances to comment on these rules, including when they are filed with the state’s Common Sense Initiative Office, please note that it is much easier for the Commission and for stakeholders to work out any questions or comments directly before the rules start the formal rule filing process.”

Credit card betting has already faced limits in several states. Iowa, Massachusetts, New Hampshire, Oregon, Rhode Island, Tennessee, Vermont, and Illinois have added guardrails. Virginia has also started the process of removing credit card availability.

Illinois Gaming Board administrator Marcus Fruchter defended that kind of rule last year. He said:

“We view that limiting credit card funding for wagering accounts is a sensible and worthwhile policy to encourage responsible gambling and mitigate the potential harms of compulsive gambling,”

He also said:

“Problem gamblers are at particular risk, and studies have shown a willingness for compulsive gamblers to use credit cards to place bets.”

Major operators have not waited for every state to act. DraftKings, FanDuel, BetMGM, and bet365 have all phased out or started to phase out credit card funding over the last calendar year.

Federal lawmakers have also added pressure. Massachusetts Senator Elizabeth Warren wrote in an open letter last month:

“Around 80% of the sports gambling market no longer accepts credit card transactions,”

She said gambling sites have pointed to changing industry standards, responsible gaming concerns, cash advance fees, and higher interest rates as reasons for dropping the payment option.