Gambling is defined as the wagering of money or something of value (referred to as stake) on an event with an uncertain outcome, with the primary intent of winning money or material goods.
Banks play a vital role in the gambling industry especially with the arrival and dominance of online gambling. Banks provide credits to gamblers through the usage of credit cards. However, with the rise of addiction to gambling and the menace of problem gambling (defined as an urge to gamble continuously despite harmful negative consequences or a desire to stop), there have been pressure on banks to stop providing credit to gamblers. This obviously will hurt the gambling companies and the gambling companies as studies has shown that problem gamblers generate between 30-60% of the total revenue of the gambling industry.