Monzo urges UK banks to offer gambling blocks

Monzo

The CEO from the new internet banking platform, Monzo, and other representatives are urging banks to offer gambling blocks to all players in support of self-exclusion.

Gambling blocks

With the growing online iGaming platform, there has been an ever-growing need for self-exclusion and gambling blocks for players. These blocks are put in place for those players who wish to exclude themselves from gambling as a whole for a minimum of six months. Leaders at Monzo bank believe that UK banks have a duty to support players’ decisions to stop playing when they need it.

Monzo

TS Anil, the chief executive at Monzo Bank, and other representatives are urging to see this responsibility to come to fruition. Monzo as a singular platform currently has approximately 275,000 active gambling blocks for their customers.

The team believe that urgent measures must be taken to rectify the Gambling Act 2005 as it does not adequately cover what is now required over 15 years later. The team noted: “We believe the Government should take the opportunity afforded by the Gambling Act review to make sure every consumer in the UK can access these blocks – regardless of who they bank with.”

As well as Anil, the letter to the UK Government was also co-authored by Professor Sharon Collard who is the chief executive research director of the University of Bristol’s Finance Centre. The letter begins by discussing the real issues with the rise of online gambling and ends with recommendations for self-exclusion.

Banks must do what they can to help their customers enjoy the iGaming industry safely. Affiliates should watch this space and stay up to date with the review. UK Culture Secretary Oliver Dowden has recently announced that current UK gambling laws are under review. Affiliates should do all they can to support this measure to help keep their audience safe.