Australia's online gambling credit card and digital currency ban approved
The Australian gaming industry has been anticipating the move almost this year, with online operators soon having to stop accepting credit cards and stop using digital currencies. The state Senate approved a bill that quickly passed.
Members of Australia's Senate approved the landmark legislation on Wednesday. The approved bill is an amendment to the Interactive Gambling Act 2001, with the express purpose of enabling consumers to conduct all online gambling and betting activities using credit cards or digital currencies.
Discussions about the ban have been going on for several years. Lobbyists like Responsible Gambling Australia (RWA) have been doing their best to convince lawmakers to join the cause, and those efforts finally paid off this year.
Say no to plastic
The House approved the measure last month, and the Senate reaffirmed its approval on third reading Wednesday. The new law is an important step toward bringing online gambling regulations into line with land-based gambling regulations, which already ban consumers from using credit cards.
Major players in the casino industry, including Stars Entertainment and Crown Resorts, have previously found ways to circumvent existing controls on the use of credit cards in land-based gambling. The new legislation aims to tighten controls and ensure uniformity between online and offline gambling activities.
The law comes into effect six months after receiving royal assent and imposes severe penalties on illegal operators. Breaching the newly implemented credit card ban will result in hefty fines of up to A$234,750 ($154,282).
Enforcement of the legislation falls under the remit of the Australian Communications and Media Authority, which has the power to fine any business that breaches the credit card ban.
No blanket ban
Australian lawmakers view the move as a positive step to improve consumer protection and promote responsible gambling behaviour. However, they didn't take it too seriously as the ban did not apply to lottery and keno purchases.
This may change in the future. The RWA, whose members include bet365, PointsBet and others, may address both issues next. The trade group hinted at this after the Senate approved the ban. RWA boss Kai Cantwell is convinced the ban is making a huge difference. But this is not enough.
The group wants the ban to become a permanent part of Australia's BetStop (player self-exclusion register). Cantwell said consumers who signed up with BetStop could still spend thousands of dollars playing lottery or keno.
It’s no surprise that the government is abandoning lotteries and keno. The Australian Institute of Family Studies reported earlier this year that 64 per cent of the population plays the lottery. This makes them more popular than sports betting (34%) and slot machines (33%).
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Source: www.casino.org
