The Australian government is set to introduce new legislation that will prohibit the use of credit cards for online gambling. This decision aligns with the restrictions already placed on land-based gambling, which limits the use of credit cards. The move aims to curb gambling harm and prevent people from betting with money they do not have. In this post, we will discuss the Australian government’s decision to ban credit cards for online gambling, how it plans to implement the ban, and what it means for the future of online gambling in Australia.
A New Law to Prevent Credit Card Use for Online Gambling
The Australian government will introduce new legislation that will amend the Interactive Gambling Act 2001 to prevent users from using credit cards to wager online. The announcement was made by Communications Minister Michelle Rowland and Social Services Minister Amanda Rishworth, who said that the ban would be enforced using Bank Identification Numbers (BINs). These numbers are used to identify and block credit card payments, preventing the use of credit cards to deposit funds into betting accounts. The government plans to introduce the legislation later this year.
Bringing Online Gambling in Line with Land-based Gambling
The government’s decision to ban credit card use for online gambling is a move to align online gambling with land-based gambling, which already has restrictions on credit card use. By introducing this new legislation, the government hopes to reduce the harm caused by online gambling and prevent people from betting with money they cannot afford to lose. According to Responsible Wagering Australia, around 20% of deposits into wagering accounts are transacted through credit cards. Tabcorp also reported that in the 2021 financial year, 13.7% of its account deposits were made via credit card.
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Blocking BINs: An Effective Measure Against Credit Card Use
Blocking BINs has been successfully used by Australian casinos and poker machine venues to prevent credit card withdrawals from ATMs. This measure has also been implemented in the United Kingdom to enforce its credit card ban on online gambling. The use of BINs to block credit card payments is an effective measure to prevent people from using credit cards to gamble online.
The Alliance for Gambling Reform Welcomes the Change
Alliance for Gambling Reform CEO Carol Bennett has expressed support for the Australian government’s decision to ban the use of credit cards in online gambling. According to Bennett, this move is a significant step towards reducing the harm caused by online gambling. She noted that individuals who experience high levels of gambling harm are more likely to resort to cash advances from credit cards, which is money that they cannot afford to use.
The Australian government’s decision to ban credit card use for online gambling is a significant step towards reducing the harm caused by online gambling. The ban will bring online gambling in line with land-based gambling, which already has restrictions on credit card use. The Alliance for Gambling Reform welcomes this change and hopes it will lead to stronger gambling regulations.