Jeremy Wright will call in industry leaders for a dressing down next week.
It comes ahead of a major Gambling Commission review next month on whether using credit cards to make online deposits deepens debt and addictions.
Mr Wright said last night: “Protecting people from the risks of gambling related harm is vital and all businesses with connections to gambling – be that bookmakers, social media platforms or banks – must be socially responsible.
“The government will not hesitate to act if businesses don’t continue to make progress in this area and do all they can to ensure vulnerable people are protected.”
One pound in every five spent on gambling online comes from credit cards rather than debit cards or direct transfers from bank accounts.
The betting watchdog fears the option of gambling on credit means people are blowing money they don’t have.
Other action by ministers could include imposing a daily or weekly limit on how much can be taken off credit cards to gamble.
The probe follows action to slash the maximum stake on fixed odds betting terminals in bookies down to £2.
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