Fintech PR
Evaluating the credit card ban for gambling in Great Britain
LONDON, Aug. 29, 2024 /PRNewswire/ — The credit card ban for gambling in Great Britain has been evaluated in a report by The National Centre for Social Research (NatCen). Evaluation of the credit card ban for gambling in Great Britain (opens in new tab) published today, has assessed the impact and effectiveness of the ban.
Great Britain was the first country to implement a complete ban on credit card use for online and offline gambling (apart from non-remote lotteries) in April 2020. The ban prohibits licensed gambling operators from accepting payment by credit card, including payments through a money service business. The credit card ban was designed to add friction to the process of gambling with borrowed money, adding a layer of protection for people at increased risk of gambling-related harms.
The evaluation intended to:
- Determine the degree to which the ban was implemented as intended,
- Examine the extent to which credit card users changed their gambling behaviours as a result of the ban,
- Understand the impact on gambling-related financial harms experienced by people who gamble with borrowed money,
- Understand the impact of the credit card ban on friends and family impacted by gambling and people who gamble who are not currently experiencing harm, and
- Examine how the COVID-19 pandemic interacted with the implementation and outcomes of the credit card ban.
The mixed method evaluation included the use of quantitative data drawn from an existing Online Tracker Survey, commissioned by the Gambling Commission, and qualitative data from interviews with organisational stakeholders, people who gamble, and friends and family affected by gambling. Key findings include:
- The credit card ban was successfully implemented, however, communications about the ban did not reach all people who gamble.
- Overall, the ban was perceived to be a positive change by people who gamble; friends and family affected by gambling; and gambling treatment/support providers.
- People experiencing moderate and high levels of problems from gambling were the most likely to be aware of the ban’s implementation.
- The increased friction imposed by the credit card ban did not always result in changed patterns of gambling.
- People experiencing no reported problems from gambling, and people experiencing low levels of problems from gambling were more likely than people experiencing moderate and high levels of problem gambling to report reduced use of credit cards to gamble and use of borrowed money to gamble post-ban.
- Most people who gamble reported that their borrowing behaviour did not change post-ban, and nearly all continue to avoid illegal forms of borrowing.
- There was no change in the likelihood of being aware of tools to minimise the risk associated with gambling products
- The impact of the COVID-19 pandemic added challenges to implementation, making it difficult to distinguish the impact of the ban from the impacts of the pandemic.
Sokratis Dinos, Director of Health Policy, The National Centre for Social Research:
“It is vital to understand the impact and effectiveness of any gambling harm prevention/reduction initiative to achieve intended outcomes and reduce gambling harms in practice. In this report we have highlighted the successes of the credit card ban, the confounding timing of the COVID-19 pandemic, as well as the work that remains.”
Tim Miller, Gambling Commission Executive Director of Research and Policy, said: “We welcome the publication of this independent evaluation of the credit card ban introduced in April 2020. We are pleased that the evaluation has found that the ban was successfully implemented, increased friction in gambling with credit as intended, and was perceived to be a positive change.
“We will closely examine the entire report’s recommendations to consider how they may inform discussions for the development and implementation of any future policies.”
As part of a programme of work to strengthen the evaluation of gambling initiatives that seek to minimise the risk associated with gambling in Great Britain, Greo’s evaluation team provided third-party management and commissioned NatCen Social Research to conduct the evaluation.
To read the full report and recommendations, you can download a copy of the Evaluation of the credit card ban for gambling in Great Britain (opens in new tab)
Note to editors: For all media enquiries, please contact Katie Crabb, Head of Marketing and Communications, NatCen at [email protected]
View original content:https://www.prnewswire.co.uk/news-releases/evaluating-the-credit-card-ban-for-gambling-in-great-britain-302233285.html
LIMASSOL, Cyprus, Sept. 20, 2024 /PRNewswire/ — Ultima Markets, a leading global forex and CFDs brokerage, is thrilled to announce its double success at the prestigious Global Forex Awards – Retail 2024. The company won two distinguished awards: “Best Affiliates Brokerage – Global” and “Best Fund Safety – Global.”
The awards were presented during the event in Limassol, Cyprus, where Jean Philippe, Board Advisor, Corporate Governance and Sustainability at Ultima Markets, accepted the honours.
The Global Forex Awards – Retail has celebrated excellence in trading innovation for seven consecutive years. Ultima Markets’ dual wins reflect its commitment to quality, client-centric strategies, and strong partnerships across the financial services sector.
The “Best Affiliates Brokerage—Global” award recognises Ultima Markets’ exemplary affiliate programme, which has successfully driven its global expansion. It is celebrated for its transparency and competitive rewards tailored to affiliate needs.
Receiving the “Best Fund Safety – Global” award highlights Ultima Markets’ efforts to safeguard client assets. Through its partnership with Willis Towers Watson, the company provides up to USD$1,000,000 in insurance per account, while its Financial Commission membership ensures clients access to up to €20,000 in compensation funds.
These recognitions underscore Ultima Markets’ priority to security and transparency, including segregated accounts and robust risk management practices. The broker also assures affiliate partners of exceptional standards.
Commenting on the awards, Jean Philippe said, “These recognitions reflect the exceptional work of our teams to ensure the safety of traders’ funds and our dedication to creating value for our partners and clients. We will continue to evolve and innovate to meet the market’s demands.”
Ultima Markets is renowned for its extensive range of trading products and personalised customer service, designed to meet clients’ diverse needs worldwide. The dual recognition marks a significant milestone in the company’s global growth and reaffirms its reputation for delivering fund safety and robust affiliate opportunities.
“We are delighted to be recognised with these awards, which reflect our mission to create a secure trading environment and build strong, rewarding partnerships,” said Jack Li, Ultima Markets’ Regional Business Director.
About Ultima Markets
Ultima Markets is a fully licensed, fast-growing broker offering access to 250+ financial instruments. With a team of 2,000+ professionals in 15 global offices, we serve clients in 172 countries. Check out more about our awards on Facebook, X, Instagram, LinkedIn and YouTube.
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View original content:https://www.prnewswire.co.uk/news-releases/ultima-markets-wins-two-prestigious-awards-at-global-forex-awardsretail-2024-302253644.html
Fintech PR
EQT to acquire Indostar Home Finance, an Indian affordable housing finance company, for INR 17.5 billion (USD 210 million) and invest INR 5 billion to support further growth
STOCKHOLM, Sept. 19, 2024 /PRNewswire/ —
- Indostar Home Finance is a fast-growing affordable housing finance company with INR 24 billion (USD 286 million) in assets under management, that has supported over 39,000 low income homeowners and small businesses
- India’s INR 30 trillion housing finance market presents a multi-decade growth story driven by strong government support, rising affordability and urbanization
- EQT will invest INR 5 billion in primary capital to support Indostar Home’s continued growth, including by broadening its footprint across India and investing in digital capabilities
EQT is pleased to announce that the BPEA Mid-Market Growth Partnership (or “the MMG fund”) has agreed to acquire a 100% stake in Indostar Home Finance (or “the Company”), a wholly owned subsidiary of Indostar Capital Finance Limited, for INR 17.5 billion (USD 210 million).
Founded in 2017, Indostar Home Finance provides affordable mortgages to retail customers in tier 2 to tier 4 cities in India and has supported over 39,000 low income homeowners and small businesses. The Company has rapidly scaled to more than INR 24 billion in assets under management, achieving a 32 percent compounded annual growth in the last three years. Indostar Home Finance has a network of more than 130 branches spread across nine states and employs over 1,000 people.
The Indian housing finance market currently stands at more than INR 30 trillion, according to the CRISIL. The segment has recorded strong growth driven by government support, rising affordability, and urbanization. However, there remains a significant shortage of housing in the country, with India’s mortgage to GDP ratio at 12.3% compared to more than 60% for developed countries like the USA and UK.
The MMG fund will invest INR 5 billion of primary capital in Indostar Home Finance to support its next phase of growth. EQT aims to expand the Company’s geographic footprint and accelerate its digital transformation journey by leveraging EQT’s in-house digitalization expertise, network of seasoned industry advisors, and expertise in go-to-market strategies.
Ashish Agrawal, Partner in the EQT Private Capital Asia advisory team, said: “Retail lending is a key investment theme for EQT within financial services in India. Building on our investment in the education finance sector through HDFC Credila last year, we are thrilled to welcome Indostar Home Finance to our portfolio. India’s affordable housing finance sector represents a long-term growth opportunity supported by secular demand drivers, favorable government policies and resilient asset quality across economic cycles”
Hemant Sharma, Managing Director in the EQT Private Capital Asia advisory team, said: “Indostar Home Finance has established itself as a leading player in this segment and is well-positioned for continued growth. We are impressed by its market-leading position in South India and strong underwriting capabilities. We see significant potential to expand Indostar’s presence across India and drive its digital transformation. EQT looks forward to supporting the company in its next phase of growth.”
Mr. Shreejit Menon, CEO of Indostar Home Finance, said: “This transaction marks a key milestone for Indostar Home Finance. We are excited to embark on this new journey with EQT, who shares our vision and whose partnership will significantly help advance our mission of delivering affordable housing finance solutions across India. With EQT’s support and global expertise, we are well-positioned for accelerated growth and success.”
The transaction is subject to customary regulatory approvals.
Contact
EQT Press Office, [email protected]
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LYON, France, Sept. 19, 2024 /PRNewswire/ — After an intense week of competition, the 47th WorldSkills Competition has officially wrapped up, marking the end of a thrilling journey for 1,400 young professionals from around the globe. For four days, participants representing nearly 70 countries and regions competed fiercely in 59 diverse skill areas, transforming Lyon’s Eurexpo into a vibrant hub of craftsmanship and international talent.
From day one, the atmosphere was charged with energy as competitors showcased their expertise in sectors ranging from Manufacturing and Engineering to Fashion, Digital Technology, and Healthcare. The level of dedication and precision demonstrated throughout the week was a testament to the profound commitment these young professionals have to their trades, as well as their determination to showcase their nation’s worth on the global stage.
Last night, the closing ceremony of WorldSkills Lyon 2024, held at Groupama Stadium, brought the event to an emotional close with the announcement of medalists in each skill category. Four medals were awarded in each skill: Gold Medal, Silver Medal, Bronze Medal, and the Medallion for Excellence. This ceremony underscored the core belief of the WorldSkills movement: excellence is found in diversity – diversity of profiles, backgrounds, expertise, and techniques.
The list of medalists is now available. Visit https://worldskills.org/what/competitions/worldskills-lyon-2024/#results to discover the winners!
What’s next?
The impact of WorldSkills Lyon 2024 extends far beyond the event itself. As the competition unfolded, and millions of people followed it in person or through media, WorldSkills Lyon 2024 spotlighted the crucial role of vocational education in today’s world and in shaping our shared future. By celebrating excellence, the competition highlighted the incredible ability of youth to drive the change our world needs through their energy and dedication. The legacy of this event lies in every vocation it has sparked and every future career it has inspired. This 47th edition has once again shown the world that where there is skill, there is a way.
Media Contacts:
Alice Nahon
PR Officer
[email protected]
Anne-Laure TRONC
Press Relation Manager
[email protected]
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View original content:https://www.prnewswire.co.uk/news-releases/worldskills-lyon-2024-talented-winners-long-lasting-legacy-302253405.html
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