Australia to ban credit cards for online gambling

The federal government has introduced legislation banning online gambling with credit cards.

Australia.- Legislation has been introduced to ban the use of credit cards for online betting in Australia. The proposed law expands an existing ban applying to land-based gambling and is intended to reduce financial risks for problem gamblers.

Under the proposed legislation presented to parliament by the federal government, companies found to be in violation will face fines exceeding AU$234,000. The communications watchdog will be granted enforcement powers to ensure compliance. The ban will also cover credit cards linked to digital wallets like ApplePay and digital currencies, such as bitcoin.

The legislation provides for a six-month transitional period to allow for adjustment to the new regulations.

The move is not a surprise. In May, communications minister Michelle Rowland announced that the government would move ahead with a ban on the use of credit cards for online gambling following calls from anti-gambling groups and the Australian Banking Association (ABA).