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Amid a surge in gambling amongst youth, the Bank of Ireland has introduced voluntary card-blocking tools aimed at curbing problem betting.Top Crypto Casino in Saudi Arabia – BitStarz Ranked #1

The new feature, shared by Allied Irish Banks, EBS, and Revolut, can be initiated by the customer and prohibits access to online casinos, slot machines, and lottery websites. It also blocks any payments made to gambling operators. The block can be requested for personal and business debit cards, with credit cards set to be included in the coming months.

Bank of Ireland Chief Customer Officer Aine McCleary said the product is designed to help customers “take positive steps to improve control over their finances.”

“Problem gambling can have a devastating effect not just on the person involved, but also on families, friends, and loved ones,” McCleary said. “For those with a gambling addiction, it can often seem like help is out of reach.”

The Gambling Regulatory Authority of Ireland (GRAI), a new entity responsible for licensing and regulating gambling services in Ireland, expects other main banks to offer a similar feature in the future.

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According to newly released figures by the Bank of Ireland, gambling expenditures among customers between the ages of 18 and 25 rose 19% between January and March despite a 2% drop in total card spending during the same period. Furthermore, 90% of gambling transactions from the first quarter of this year were placed online, with 99% funded by debit cards.

Male bettors accounted for 71% of those wagers, with betting activity rising the most in the following counties: Wicklow (37%), Kilkenny (24%), and Limerick (20%). In contrast, betting amongst those 65 and older fell 8%.

Popular sporting events such as the Cheltenham Festival and the Six Nations are key drivers of this increase. 

The new initiative has drawn support from gambling support organizations such as GamblingCare.ie.

“We can see the latest gambling spend insights that betting amongst younger people is on the rise,” spokesperson Oisin McConville noted. “To combat the scourge of problem gambling, a wide range of supports is essential to prevent the issue from becoming overwhelming for those impacted.”

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Established in March, the GRAI was lauded by Minister Jim O’Callaghan as a “new era for the regulation of gambling” in Ireland.

“The establishment of the Gambling Regulatory Authority of Ireland is a further step towards replacing Ireland’s outdated gambling laws with a streamlined and simplified licensing framework,” O’Callaghan said, “which will reflect the nature of modern gambling and take into account the harms associated with problem gambling, providing safeguards to protect people from those harms, especially children.” 

One of the GRAI’s priorities was establishing a National Gambling Exclusion Register. The oversight group believes the register will be an “important step” in helping those struggling with gambling addictions.