Bookmakers are set to ban the use of credit card payment methods for betting in shops and online betting along with restrictions on advertising during live sport.

The changes are part of an updated code of conduct, to be introduced by the Irish Bookmakers Association (IBA).

It is hoped that the new code will be fully operational by the end of the year.

As part of the changes, there will be no pre-watershed television betting advertising from five minutes before a live event begins until five minutes after it concludes. However, this will not include horse-racing or greyhound racing.

Gambling adverts had already been banned on television before 9pm, but this did not extend to televised sporting events.

All IBA members, including Boylesports, Flutter Entertainment (owner of Paddy Power and Betfair), Entain and Independent operators will adopt this latest version of the code.

Other operators including Bet365, Betway and The Kindred Group will also sign up.

Flutter Entertainment and others have already introduced a ban on credit cards.

Chairperson of IBA, Sharon Byrne, said that the new code is "not the answer to problem gambling and we believe there is more that can be done within the forum provided by a regulator".