Bill to Ban the Use of Credit Cards for Gambling Purposes Published in Australia

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The Australian Government keeps working hard to protect the players who are at risk of problem gambling and online gambling harm. The most recent step the Government took is banning credit card payments. 

Bill that bans credit cards:

According to the Albanese Labor Government, which suggested this legislation to the Parliament, the companies who don’t obey the new law will be obligated to pay a fine of up to $234,750.

The Interactive Gambling Amendment (Credit and Other Measures) Bill 2023 will see all credit cards, digital currencies, and other products related to the use of credit for online gambling.

The Government will allow the Minister for Communications to prohibit all credit-related products from being used for gambling purposes. 

This Bill is the next step in the changes the Australian Government conducts after the Parliamentary Joint Committee on Corporations and Financial Services (PJC Inquiry) recommended new actions in November 2021.

The new measures will mean more power for the Australian Communications and Media Authority, which will be able to punish the ones who don’t comply with the Bill and issue fines that can go up to $234,750.

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Both the companies and the players will be given a 6-months period to put things in order and change the way of placing their bets

At the moment, the Government Labor’s main mission is to solve the problem gambling issue, and the National Consumer Protection Framework is a great help in that.

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Next steps and other measures:

Among other measures, there are monthly activity statements that will have to be provided, new taglines, staff training, as well as the National Self-Exclusion Register, BetStop, which helps the players self-exclude from gambling activities.

Along with that, the pre-verification of customers will be required, so they will have to prove their identity when they want to register and place the bet. 

The Government is still deciding about other measures that are expected to be required in the country, but there’s no doubt that these steps will drastically reduce the problem gambling in Australia.

According to the media release published by the government, a new meeting of the ministers responsible for online gambling from the state, territory, and Commonwealth is planned to be scheduled this year. 

The Hon. Michelle Rowland, Minister of Communications, said: “I would like to thank the wide variety of stakeholders, including harm reduction advocates, wagering and lottery providers, and banking payment organizations, for their contributions to and support for this Bill.”  

The Hon. Amanda Rishwort, a Minister of Social Services, said: “We know minimizing the harm caused by online gambling is not a set-and-forget exercise, and I look forward to working with my state and territory counterparts on what comes next to continue this positive change.”

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