Australia Bans Online Betting with Credit Cards and Digital Currencies to Prevent Gambling Harm

The Australian government has implemented a new ban on online betting with credit cards and digital currencies in an effort to curb problem gambling. This ban includes credit cards linked to digital wallets, cryptocurrencies like Bitcoin, and any other new forms of credit.

The ban brings online betting regulations in line with land-based gambling rules, but does not apply to online lotteries, which still allow credit card payments. Responsible Wagering Australia chief executive Kai Cantwell has called for the ban to be extended to all forms of online gambling to protect vulnerable customers.

Companies in the industry have been given a six-month transition period to comply with the ban, which came into effect on Tuesday. Those that do not comply could face fines of up to $234,750, and the communications watchdog has been given expanded powers to enforce the restrictions.

The federal government is also considering phasing out gambling advertising over three years, following recommendations from a parliamentary inquiry on problem gambling. Communications minister Michelle Rowland emphasized the importance of preventing Australians from gambling with money they do not have.

Recent gambling reforms in Australia include a betting self-exclusion register, which has already been utilized by 22,000 individuals. Additionally, starting in September, computer games with gambling-like content will be classified as R18+ and those with in-game purchases will be classified as M.

The government’s efforts to minimize gambling harm have been praised, with Rowland stating that the ban on online betting with credit cards and digital currencies is a crucial step in protecting vulnerable Australians. More announcements on gambling prevention are expected in the future as the government continues to address this issue.