The Australian government are set to pass legislation that will prevent iGamers and regular gamblers from using credit cards when staking money online.
Australia Gambling Credit Card Ban
According to the federal lawmakers in Australia, iGamers should not be allowed to gamble using money that isn’t actually theirs.
First proposed in 2021, the law changes were set in motion after wide-scale studies revealed 20% of deposits made in the gambling industry are completed using credit cards.
Tabcorp, who are the nation’s largest online gambling operator, also concurred by releasing figures that revealed just over 13% of the payments on their platform had originated from credit cards.
CEO of the Alliance for Gambling Reform Carol Bennett, commended the push made from the Australian government, saying that credit cards are one of the root causes of gambling addiction, and the introduction of new measures will eliminate one of the easier avenues for problem players.
She said: “We have seen through the online gambling inquiry just how significant this issue is and the level of concern from the community, which shows we have been asleep at the wheel when it comes to gambling harm for a very long time.”
Anna Bligh, the Australian Banking Association chief executive, also added that it was absurdity that the credit card loophole had been allowed to continue as long as it had.
She noted that territory and state legislation dictates that hotels and in-person casinos had already taken this step at the beginning of the millennium.
“So I can sit in a TAB or a pub and I can gamble on my betting app, using my credit card and accruing debt, but I cannot use my credit card at the betting counter in that TAB or at that hotel,” Bligh said.
The ‘gamble responsibly’ tagline that has also been adopted in the UK was ditched in Australia after a push from the government, and was replaced by taglines that forced players into questioning the fiscal consequences of losing a bet.