Tabcorp has said it will support a ban on credit card use for gambling as long as local newsagents could still sell lottery tickets.
Australia.- Tabcorp has said that it won’t oppose the implementation of a ban on credit cards for online gambling in Australia as long as customers could still buy lottery tickets at shops and newsagents.
The company said the measure would need at least a year to be implemented to allow the industry time to adapt to the changes. It warned that it could lead to unintended consequences as Tabocorp has lost ground to online competitors.
The debate around the use of credit cards for online gambling began back in 2019 when an association launched a public consultation.
In March, Queensland MP Andrew Wallace said that Australia’s four biggest banks backed plans to ban credit card spending on online gambling. Some banks have already introduced a ban.
Credit cards are already banned from being used at casinos, but the same restrictions do not apply for the digital gambling sector.
A parliament committee will analyse the regulatory frameworks in force in other jurisdictions and is expected to deliver a report by July 30.
According to the Australian Parliament, the ban must be introduced urgently as the number of players using online gambling increased during the Covid-19 pandemic.
Tabcorp has also expressed concerns about the rise of online betting and has proposed that the Commonwealth take responsibility for regulating gambling during the period of establishment of a single national gambling regulatory body.
Responsible Wagering Australia (RWA), an independent trade advocacy body for Australian‑licensed wagering providers has spoken against a ban on credit card gambling. It argued that there was no evidence for a link between problem gambling and the use of credit cards for online gambling.