Betting With Credit Cards Banned in Australia

The CEO of Responsible Wagering Australia, Kai Cantwell, endorses this decision.

Betting With Credit Cards Banned in Australia

A lot is changing in Australian gaming law, and new legislation has been enacted. Credit card payments for online bets will no longer be accepted, according to a decision made by the Australian Federal Parliament.

The CEO of Responsible Wagering Australia, Kai Cantwell, endorses this decision. He believes that the country requires this choice since residents will be permitted to bet only with the money they have on their cards.

Cantwell commented:

“This is an important measure to protect customers and their loved ones, making it easier for people to stay in control of their own gambling behavior. It will complement the existing offering of safer gambling account management tools by RWA members to customers to help them stay in control of their betting.”

He also expressed disappointment that some games, including lotteries and keno, were exempt from the prohibition, despite the fact that lotteries are the most popular sort of gambling in the country, particularly among individuals from lower socioeconomic levels.

According to the Australian Gambling Statistics, individuals lost more than $3.2 billion playing these two types of games just in 2020 and 2021. When online keno became legal in Victoria, these figures skyrocketed, with losses increasing by more than 400% in 2022 and 2023.

Lotteries are exempt from other provisions of gaming legislation. There is also a National Self Exclusion Register, Betstop, which allows Australians who have previously banned themselves from other kinds of internet gambling to bet up to $10.000 online by playing lotteries.

Cantwell added: “To effectively reduce gambling harm, consumer protection measures must exist across all forms of gambling. Otherwise, those at risk of harm will just move from one form of gambling to another less regulated type.”