Online gambling - £50 example

£50 online gambling example

Gambling example – £50

This scenario shows you how the fee and interest is calculated for using your card for gambling.

£120 cash example


John has a zero balance. He spends £50 on a gambling website and pays it back in full.

John uses his card on a gambling website, and the transaction is debited from his account on 1 July


He pays a standard Sterling cash-like fee for the transaction, which is typically 2.99%.


John pays a standard cash-like fee for his transaction,

so his fee is 2.99%

Total for John’s gambling transaction, plus fee


+£1.50 fee


John’s July statement

John’s next statement date is 10 July. On this statement, he’ll see he’s been charged for 10 days’ interest. This has been calculated from the day the transaction was added to John’s account (1 July) to his statement date (10 July).

John’s Barclaycard has a simple cash interest rate of 24.85% per year (27.9% compound equivalent). Cash interest rates may vary by customer.

John is charged interest for 10 days. This is from 1 July, when the transaction was debited from his account, to 10 July, his statement date.

+ £0.35

based on 10 days

John’s July statement shows


+£1.50 fee

+£0.35 interest


On 9 August, John pays this full amount by his payment date

£51.85 paid


John’s monthly statement was created on 10 July. He paid his July statement balance in full on 9 August. However, daily interest continues to be charged from the date his statement is created until his cash balance is cleared. In John’s example, this is 29 days. Interest for the 29 days will appear on his August statement.

John is charged interest for 29 days, from 10 July when he received his last monthly statement, to 9 August when he paid off his July statement balance.


based on 29 days

Interest diagram


So, the total amount John pays for his gambling transaction is…

Gambling transaction


Fee John was charged

+ £1.50

Interest John was charged on his July statement

+ £0.35

Interest John was charged on his August statement


Total John paid