Australian Casinos No Longer Take Credit Card & Digital Currency Payments
As of June 2024, online casinos accepting players from Australia can no longer take credit card payments. Following a six-months transition period, Australian authorities announced that the ban is in effect. Any company working in iGaming in Australia that fails to comply will receive a massive fine up to 234,750 AUD.
Credit Cards, Digitals, and Credit-Related Products
The new ban is a result of a passed bill from 2023. Last year, the Australian Parliament voted to accept the restriction of credit card uses in gambling. The Interactive Gambling Act of 2001 was amended, and companies were given six months as transition period. That time is now up. Moreover, the ban also covers the use of digital currency and credit-related payments, not just credit cards.
According to the Australian Communications and Media Authority, they have the power to enforce civil penalty provisions. They are the ones making sure all companies are in compliance with the new law.
The Communication Minister, Michele Rowland, commented on the bill saying that, “Australians should not be gambling with money they do not have. Last year, the Albanese Labor Government committed to banning credit cards for online wagering – and we’ve delivered.”
Rowland continues, “This ban builds on the significant progress to minimise gambling harm that the Albanese Government has made over the past two years, which is already benefitting thousands of vulnerable Australians.”
Lastly, she added that they have more to share soon, meaning we might get new updates on new bans and laws.
Keno and Lottery Too?
The licensed body for Australian-licensed wagering service providers, Responsible Wagering Australia, wholeheartedly supports the new measure. Their members, such as Entain, Unibet, Pointsbet, Betfair, and many others, firmly believe the ban is a step in the right direction. What is more, they believe it should also cover keno and lottery gambling, not just casino and sports.
Kai Cantwell, Responsible Wagering Australia CEO, has said that the measure “will complement the existing offering of safer gambling account management tools by RWA members.”
He adds, “RWA and its members support the extension of this measure to all forms of gambling that have been exempted from the ban such as lotteries and keno. If consumer protection measures aren’t consistent across all forms of gambling it will incentivise vulnerable Australians to move to less-regulated types of gambling, where they are more at risk of harm.”
We look forward to seeing what other measures and news Australian authorities have to offer to combat problem gambling and encourage player protection.
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