Australia Bans Credit Card Use for Online Gambling

Australia has introduced new legislation that effectively bans the use of credit cards for online gambling.

The Interactive Gambling Amendment (Credit and Other Measures) Bill 2023, tabled on September 13, seeks to prohibit credit cards, credit-related products, and digital currencies for online betting.

Strict Penalties for Non-Compliance

Operators failing to enforce the ban may face fines up to $150,467. Additionally, the Australian Communications and Media Authority (ACMA) will have more power to enforce penalties for non-compliance.

The amendment, if passed, will allow for a transition period of six months from the date of Royal Assent for both the gambling industry and consumers to adjust to the new regulations. The bill aims to bring online gambling in line with existing restrictions on credit card gambling at land-based establishments in Australia.

Ongoing Discussions on Credit Card Gambling Ban

Minister for Communications, Michelle Rowland MP, expressed the government’s dedication to safeguarding Australians from the potential risks of gambling with borrowed funds. The new legislation puts into action the recommendations from the Parliamentary Joint Committee on Corporations and Financial Services, which brings Australia’s regulations in line with those of other nations, such as the UK.

Discussions about banning credit card gambling have been ongoing in Australia for years. The amendment bill reflects consultations with various stakeholders, including operators, harm reduction advocates, wagering and lottery providers, and banking payment organizations.

In an effort to tackle gambling-related harm, the government has implemented several measures, including monthly activity statements, evidence-based taglines replacing “Gamble Responsibly,” and the BetStop national self-exclusion register, in addition to the ban on credit cards.