Australia Bans Credit Card Use for Online Gambling to Curb Problem Wagering

Australias leadership is combating problematic wagering by prohibiting the utilization of credit for internet betting. This action brings digital gaming governance in line with established regulations for brick-and-mortar casinos and gaming machine establishments, where credit card usage is already disallowed.

The authorities stress that wagering with borrowed funds contributes to monetary detriment and seeks to safeguard susceptible persons. They intend to execute this prohibition by employing bank identification numbers (BINs) to obstruct transactions from credit cards to gaming accounts.

This measure has demonstrated efficacy in other nations like the United Kingdom, and information indicates that credit cards constitute a substantial portion of internet gaming deposits in Australia. The updated legislation, modifying the 2001 Interactive Gambling Act, is anticipated to be presented later this year.

A new Tabcorp investigation found that approximately one in seven users on its system utilized credit cards for wagering payments in 2021. The Coalition for Gambling Reform praised Tabcorp’s move to prohibit credit card usage for internet betting, with director Carol Bennett stressing its possible role in minimizing gambling-related issues. She pointed out the susceptibility of at-risk gamblers who frequently depend on credit cards, resulting in insurmountable debt.