GRAI or Ireland’s Gambling Authority is working closely with major banks. This is to implement voluntary blocks on gambling-related transactions made with credit cards, as well as debit cards. The country is moving toward establishing a fully regulated gambling market. This initiative is part of a broader effort to strengthen consumer protections.
Irish Examiner says that the Chief Executive Designate of GRAI, Anne-Marie Caulfield, highlighted the importance of the measure. She states that this will be a valuable consumer measure. She also cited findings from the Economic and Social Research Institute (ESRI). The research shows that a person experiencing gambling harm spends an average of €1,000 monthly.
The initiative has already prompted AIB (Allied Irish Bank) and EBS to introduce gambling transaction blocks. Moreover, Revolut, a digital banking service has implemented a similar feature. This gives customers more control over their spending. Caulfield emphasized that discussions are ongoing with the Banking and Payments Federation of Ireland to encourage the country’s main banks to adopt this practice more widely.
The efforts of Ireland to address gambling-related issues gained momentum following the passage of landmark gambling legislation in October. With advertising restrictions, a national gambling exclusion register, and a social fund to support problem gambling activities, the legislation targets to introduce a variety of measures.
The GRAI will oversee these regulations. It has the authority to enforce compliance and impose fines. These fines can reach up to €20 million or 10% of an operator’s turnover for violations. Caulfield stated that they have made significant progress in setting up the regulatory structures needed for effective oversight.
Educational initiatives are also a cornerstone of the strategy of the regulator. The SPHE (Social, Personal, and Health Education) curriculum for junior and senior cycles now includes gambling. This change educates young people about the risks associated with gambling. The GRAI is partnering with the Health Service Executive (HSE) Addiction Services. They are launching a campaign to educate parents about the dangers of childhood exposure to gambling.
