Measures to Regulate Gambling Behaviour
Starting today, the ban on credit card and cryptocurrency payments for online gambling has taken effect under the Interactive Gambling Amendment (Credit and Other Measures) Bill 2023. Introduced last September, this bill amended the Interactive Gambling Act 2001. It was passed by Australia’s House of Representatives in November and subsequently by the Senate.
According to the new regulations, online gambling platforms in Australia are no longer allowed to accept payments via credit cards, including those linked to digital wallets and cryptocurrencies such as Bitcoin and Ethereum.
These rules align online betting platforms with physical gambling venues, which were already prohibited from accepting credit card and cryptocurrency payments. However, online lotteries and keno are still permitted to accept credit card payments.
Minister for Social Services Amanda Rishworth stated, “Our government takes seriously our responsibility to prevent and reduce harm from online wagering. Our ban on credit cards will help with this goal. You can’t use your credit card to place a bet for land-based gambling. Now the same rules apply for online gambling.”
Licensed online gambling platforms in Australia were given a six-month transition period to adapt to these changes. Violations will now incur a civil penalty of up to AU$234,750.
The legislation also authorises the Australian Communications and Media Authority (ACMA) to enforce these penalty provisions.
Efforts to Control Gambling
The prohibition on credit card and cryptocurrency payments follows the government’s introduction of mandatory pre-verification for all online gambling platform customers. The government also replaced the “Gamble Responsibly” message in wagering advertisements with evidence-based slogans.
Additionally, the BetStop initiative, a national self-exclusion register, has been launched, with over 22,000 Australians opting out of online wagering and promotions since its introduction last August.
While the ban on credit card and cryptocurrency payments has been generally well-received within the industry, some criticism remains regarding the exemptions.
Kai Cantwell, CEO of Responsible Wagering Australia, commented, “If consumer protection measures aren’t uniform across all forms of gambling, it may encourage vulnerable Australians to turn to less-regulated gambling types, increasing their risk of harm.”