A lot is changing when it comes to Australian gambling law, and new legislation has just been passed. The use of credit cards as a payment method for placing online bets will be prohibited from now on, as the Australian Federal Parliament decided.
Important measure
Kai Cantwell, the CEO of Responsible Wagering Australia, supports this decision. He thinks that the country needs this decision since the residents will be allowed to gamble only with the money they actually have on their cards.
Cantwell commented: “This is an important measure to protect customers and their loved ones, making it easier for people to stay in control of their own gambling behavior. It will complement the existing offering of safer gambling account management tools by RWA members to customers to help them stay in control of their betting.”
Lotteries and keno issue
He added that it was disappointing that some kinds of games, for example, lotteries and keno, were excluded from this ban since the lotteries are the most popular type of gambling in the country, especially in people from lower socioeconomic groups.
Only in 2020 and 2021 did citizens lose more than $3.2 billion playing these two types of games, according to the Australian Gambling Statistics. When online keno was legalized in Victoria, these numbers increased even further, and in 2022 and 2023, the losses increased by more than 400%.
There are other parts of the gambling law that lotteries are excluded from. There is also a National Self Exclusion Register, Betstop, so the Australians who already have excluded themselves from other forms of online gambling still have the opportunity to gamble up to $10.000 online by playing lotteries.
Cantwell added: “To effectively reduce gambling harm, consumer protection measures must exist across all forms of gambling. Otherwise, those at risk of harm will just move from one form of gambling to another less regulated type.”
Strict regulations
The industry is talking about the potential credit card ban from 2021. The RWA members collaborate with the federal government and financial institutions to deliver the best possible solutions when it comes to credit card bans and online gambling regulations. The institutions will continue to work hard on this, and the ban is supposed to be implemented in all online casinos in Australia within six months.
This is the newest regulation in the Australian market, but not the only one. Other prohibitions include banning external signage, reducing the cash-input limit, reducing the cap on machine entitlements, and others.
Source: Narayan, Niji, “Australian Parliament Passes Legislation Banning Online Credit Card Betting”. European Gaming. December 7. 2023.