Australia Implements Nationwide Ban on Credit Card Use for Online Gambling

The Australian Senate has made a decisive move to safeguard online gamblers by approving a comprehensive ban on the use of credit cards and digital currencies in online gambling. This significant legislation, known as the Interactive Gambling Amendment (Credit and Other Measures) Bill 2023, is a milestone in Australia’s commitment to responsible gambling practices. Set to be enforced within the next six months, this ban extends an existing prohibition that was previously limited to land-based gambling.

Major legislative development in Australia! The Senate has passed a law that bans the use of credit cards and digital currencies for online gambling, marking a significant step in promoting responsible gambling.

Introduced in September and passed by Australia’s House of Representatives last month, this law targets the growing concerns around problem gambling in the digital age. It aims to curb the risks associated with easy access to credit for online betting, reinforcing Australia’s stance on responsible gambling.

Imagine a gambling environment where the risk of debt accumulation and financial instability is significantly reduced. This law brings us closer to this reality, ensuring that individuals engage in online betting with more financial awareness and control.

Stay informed about these changes and their implications for online gambling in Australia. Whether you’re a gambler, operator, or regulator, understanding this law is crucial for compliance and responsible participation in the gambling sector.

Companies that fail to comply with this ban face substantial fines exceeding AU$234,000, underscoring the government’s seriousness in enforcing this regulation. The media watchdog will be responsible for ensuring adherence to these new rules.

Responsible Wagering Australia (RWA) has lauded this development. CEO Kai Cantwell expressed support for the measure, stating, “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.” He emphasized that the ban complements existing safer gambling account management tools provided by RWA members to their customers.

However, Cantwell also expressed disappointment regarding the exemption of lotteries and keno from the ban. He noted that these forms of gambling, especially prevalent in low-socioeconomic communities, pose significant risks. Additionally, he highlighted the exclusion of lotteries from the National Self Exclusion Register, Betstop, which allows individuals who have self-excluded from online gambling to still participate in high-stakes lottery gambling online.

This legislative move by the Australian Senate represents a critical advancement in the nation’s approach to managing the risks associated with online gambling, prioritizing consumer protection and responsible gaming practices.