The Australian Government has now come to the final conclusion to introduce the ban on credit cards in igaming in the country. Though the ban has not yet come into full effect, a six-month grace period will be given to the casinos and players once it is in effect. The bill will become effective immediately once it receives royal assent.
The new ban is under “The Interactive Gambling Amendment (Credit and Other Measures) Bill 2023.” Not only will the bill cover credit cards, but it will also seek to ban other credit-related products from being used as payment methods for iGaming. This is a major change in the industry, and anyone who thinks they can bypass this new ban will face fines going all the way up to 234,750 Australian dollars. The bill will be enforced by The Australian Communications and Media Authority (ACMA) and will have the legal right to enforce penalties.
Although in Australia, the practice of using credit cards for gambling has already been prohibited at brick-and-mortar establishments, it was widely anticipated that the government would extend this restriction to the digital realm as well.
Michelle Rowland, the Minister of Communications in Australia’s government, issued a simple explanation for the reasoning behind this ban: “People should not be betting with money they do not have.” The minister added that this measure is expected to “protect vulnerable Australians” against gambling harm.
The implications of this new ban extend beyond its initial implementation, as the government is actively engaged in ongoing discussions. Additionally, the government is expected to introduce mandatory customer pre-verification by the end of September. Furthermore, the Australian government is considering other recommendations issued by a parliamentary inquiry into online gambling and will discuss potential measures by the end of 2023.
Let Us Know What You Think Of This New Bill!
The new ban is under “The Interactive Gambling Amendment (Credit and Other Measures) Bill 2023.” Not only will the bill cover credit cards, but it will also seek to ban other credit-related products from being used as payment methods for iGaming. This is a major change in the industry, and anyone who thinks they can bypass this new ban will face fines going all the way up to 234,750 Australian dollars. The bill will be enforced by The Australian Communications and Media Authority (ACMA) and will have the legal right to enforce penalties.
Although in Australia, the practice of using credit cards for gambling has already been prohibited at brick-and-mortar establishments, it was widely anticipated that the government would extend this restriction to the digital realm as well.
Michelle Rowland, the Minister of Communications in Australia’s government, issued a simple explanation for the reasoning behind this ban: “People should not be betting with money they do not have.” The minister added that this measure is expected to “protect vulnerable Australians” against gambling harm.
The implications of this new ban extend beyond its initial implementation, as the government is actively engaged in ongoing discussions. Additionally, the government is expected to introduce mandatory customer pre-verification by the end of September. Furthermore, the Australian government is considering other recommendations issued by a parliamentary inquiry into online gambling and will discuss potential measures by the end of 2023.
Let Us Know What You Think Of This New Bill!