Australia has enacted a sweeping ban on the use of credit cards for online gambling, a significant move to curb gambling-related harms. The ban, effective Tuesday, extends to credit cards linked to digital wallets and digital currencies like Bitcoin. Non-compliant companies face fines of up to $234,750.
Government Enforces New Credit Card Gambling Ban
Communications Minister Michelle Rowland emphasized the government’s commitment to implementing recommendations from a report on online gambling. “We know that some of these recommendations involve the states and territories,” Rowland stated during Question Time on Thursday. These changes are part of broader efforts to protect vulnerable Australians from gambling addiction.
Rowland reaffirmed the Albanese Labor government’s dedication. “Australians should not be gambling with money they do not have,” she said. “Last year, the Albanese Labor government committed to banning credit cards for online wagering – and we’ve delivered.” This policy builds on other measures introduced over the past two years, benefiting thousands of Australians.
Implementation and Compliance
The online gambling industry had a six-month adjustment period to comply with the new regulations. Responsible Wagering Australia, representing major online wagering companies like Bet365, Sportsbet, and Unibet, supported the ban but urged the government to extend it to cover online lotteries and Keno. Chief executive Kai Cantwell argued for consistent consumer protection measures across all forms of gambling to prevent vulnerable Australians from shifting to less-regulated gambling activities.
From Tuesday the way punters can bet has changed with online gamblers banned from using credit cards for wagering. It follows other government measures to curb problem gambling. https://t.co/XnBxGc88cm #7NEWS pic.twitter.com/6HCIWgsAWI
— 7NEWS Cairns (@7NewsCairns) June 11, 2024
Industry and Consumer Reactions
According to the Australian Institute of Health and Welfare, Australians lose approximately $25 billion annually to legal gambling, marking the highest per capita losses worldwide. The credit card ban aligns with parliamentary inquiry recommendations, which also advocate for a complete phase-out of gambling advertisements within the next three years.
Future of Gambling Regulations in Australia
This landmark regulation marks a significant step in the government’s ongoing efforts to mitigate gambling harms and protect the financial well-being of Australians. Stay informed about future changes in gambling regulations as the government continues its crackdown on harmful practices.
