Illinois Targets Credit Card Ban for Sports Betting
The Illinois Gaming Board (IGB) voted unanimously to propose a ban on using credit cards to fund sports betting accounts, a move to promote responsible gambling.
A Push for Responsible Gambling
“As part of our review, we determined that prohibiting the use of credit cards to fund sports wagering accounts is a justified and impactful advancement in Illinois sports wagering,” said IGB Administrator Marcus D. Fruchter.
The rule, mirroring existing bans for casino and video gaming, follows six states like Iowa and Tennessee,
Fruchter cited studies showing credit card restrictions reduce compulsive gambling, especially among problem gamblers prone to betting with credit.
Risks remain big, with 13% of college males facing gambling-related debt.
Cashless Wagering Gets Green Light
The IGB also approved cashless wagering in all 17 Illinois casinos, allowing digital wallets for bets and withdrawals. “There is a growing body of recent research showing that restrictions on credit usage to fund wagering accounts encourages responsible gambling,”
Fruchter said, noting that cashless systems exclude credit cards. These accounts align with IGB safeguards like age limits and anti-money laundering checks.
Cashless wagering, called “revolutionary” by the Association of Certified Gaming Compliance Specialists, cuts the need for cash and streamlines play. But some online platforms link cashless methods to addictive behavior.
A third rule mandates record-keeping for video gaming sales agents and brokers, matching standards for other licensees to boost transparency. This targets Illinois’ 9,000 video gaming locations, ensuring compliance in a sector generating $41.3 billion in sports betting handle since 2020.
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