Australia Set To Ban Credit Cards From Online Gambling In New Legislation
Credit cards will be banned from online gambling under the new legislation, with penalties of up to $234,750 could apply for breaching the new provisions.
The new bill, set to be introduced to the federal parliament on Wednesday, will illegalise using credit cards and digital currencies in online wagering.
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Industry and consumers will be provided with a six-month transition period from the date of Royal Assent to change their business and betting behaviours, respectively.
Michelle Rowland, Minister for Communications, said the government is committed to protecting Australians from gambling harms.
“It’s as simple as this: people should not be betting with money they do not have,” Ms Rowland said.
“Legislating a ban on the use of credit cards for online gambling will help to protect vulnerable Australians and their loved ones,”
The government will also introduce mandatory customer pre-verification, requiring wagering service providers to verify a customer’s identity when they register for a new account and before they can place a bet.
According to the Department of Social Service, online gambling is the fastest-growing gambling segment, with more than 11 per cent of Australians participating at some stage in the previous six months.
Amanda Rishworth, Minister for Social Services, said she was pleased to take the next step with legislation to ban the use of credit cards.
“You can’t use your credit card to place a bet for land-based gambling, and the same rules should apply for online gambling too,” Ms Rishworth said.
“We’re serious about protecting vulnerable Australians from the harm we know online gambling can cause. Any platform breaching the new rules will face penalties.”
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