After the scandal, Russian banks and bookmakers block gambling payments by children

Gambling News and Lucky Stories

A scandal broke out in Russia with the use of children’s bank cards to pay for gambling – after numerous statements by parents about such cases. Tinkoff Bank, which became a defendant in the scandal, reacted by blocking payments, and online bookmakers limited the payment of bets from minors. According to the bank’s support service, the possibility of making transactions in online bookmakers from children’s and teenage cards is currently blocked. Tinkoff Bank clarified that parents of minor children, as before, can independently set restrictions on Internet operations using Tinkoff Junior children’s cards. It is noted that some bookmakers and illegal online casinos use a substitute mcc code to make payments, thereby bypassing the restrictions. In these cases, Tinkoff Bank blocks the suspicious payment service. However, bookmakers say they have also taken action and significantly raised the minimum deposit to deter children from gambling. Now the contribution for bets in 1xbet and 1xwin ranges from 500 rubles to two thousand. Previously, this operation cost 50 rubles. Experts point out that there are a lot of illegal online bookmakers on the Russian market that are not subject to regulatory authorities. And the problem of protecting consumers of financial services, including children, should be dealt with by the Central Bank of the Russian Federation. As My Lucky Story previously reported, Tinkoff Bank, Sberbank and VTB Bank have stopped processing payment transactions of their customers to the accounts of illegal online casinos and bookmakers. We add that the UK Gambling Commission stated that underage residents of the country gamble more often than use drugs and alcohol.

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