Credit cards and gambling (tabcorp, Australia)

[Darker45]

As I see it, it seems there is not much problem here. The truth is that you are probably wrong in saying that "governmental bodies and the banks thoroughly oppose gambling." That is apparently not the case. The government wants gambling because it gives them a considerable revenue. On the other hand, the banks also want gambling because they finance the development of these companies. However, they also need to control the damage at the same time. So regulations have to be put up to somehow strike a balance. But that's all there is to it.

[michellee]

Why even talk about credit cards when you have crypto currencies to gamble with? The banks were never friendly with fiat casinos. They take every opportunity to ban or block users access to their cards as soon as they see a transaction made to a casino. I know they do it to "protect" their customers, but this was a choice made by their customer. Why is the bank interfering? And this is one of the reason why centralized banks are being hated right now. Use crypto currencies and play in crypto casinos. They are much better and more fair than your traditional online casino.

So in this matter, we as a crypto user are fortunate as we do not have to involve with the bank from depositing our money to the gambling sites. The banks will not agree if we use the money to gamble, although maybe their employee also playing gambling secretly

The government will check the bank central to see the cash flow of the money transaction on every bank and if they see a suspicious transaction or an account send the money to the casino, they will investigate furthermore. People will have their own choice, whether to still use fiat money or moving into crypto which they will benefit if they use crypto.

[Wexnident]

They can't totally ban people from using their credit cards because for sure, they are earning a lot of money here because of the high interest especially if you are late to pay your credit card.

I don't think it's a matter of profit really, a lot of people use banks after all, so I don't think them accomodating to the issue of gamblers and banning them would be that much of an issue. As you said credit cards have high interest rates and with the number of people they serve? That's quite a lot in profit already imo. Honestly, they should just attack the problem at its core, aka the gamblers themselves, and not the methods they use which is honestly a lot more effective ngl, granted that it's quite difficult though.

Still, as others have said, just use crypto. A lot more easier tbh and hell, less problems even.

[uneng]

At the end of the article, Tabcorp CEO said:

While the use of credit cards in online wagering with Tabcorp is declining, Attenborough did admit that a problem gambler can always find ways of getting around blocks or bans, ...

And he is totally right on his statement. Problem gamblers will find a way to keep gambling with or without credit cards, just like they always come back to the casino even after asking for a block on their accounts. The biggest challenge is to make these people lose their desire for gambling. So far I haven't seen any policies achieving this deed.

In fact, to inspire problem gamblers to develop an interest for another activities which could be more healthful for them should be the main goal of policies proposed by governments. Solely bans and prohibitions don't work.

[jrrsparkles]

Banks doesn't have the right to make decisions for the gamblers, whether where they want to spend their money, if you know what I mean, because I don't think of any reason why they should do that unless the gambling site or casino is illegal, then their action is valid. Government and banks are not responsible for their clients decision, or choices to be make, it's their clients rights to do whatever they want with their money, in my opinion.

Credit card is not the money from the customer's pocket its actually a loan provided by the banks so they do have all the rights to decide where the user can spend it and ofcourse they can even restrict activities which are legal in their country but involves high risk.

^ It seems you are right, probably their government just cares about their people not to use the money that comes from lending.
For this reason, it will probably minimize the possibility of fraudulent activities due to gambling addictions which are gamblers can possibly commit a crime in the future due to the reason of gambling addiction. There could be thousands of gamblers that will become miserable their life because if banks allow using debit and credit cards if people want to gamble, just use an amount that they can afford.

Actually government doesn't care about the people they just care about the money, if they let the people to gamble with the lend money then they will face more loan defaulters so they are restricting people from doing it with credit cards and at the same time they allow people to do the same thing when they are ready to spend money from their own pockets.

[hello_good_sir]

I don't see a problem with banning credit cards.

There is a reason why nobody in the cryptosphere is willing to accept credit card/Paypal payments.

It's way too clunky, there are huge transaction costs, and there are significant drawbacks such as the risk of getting carding fraud. If it's not worth it for the casino, why force them?

[LUCKMCFLY]

I remember the time I made the last topic about how the credit cards might be banned for the future gamblers. Apparently according to the tabcorp, banks are supposed to be responsible for the credit card bans.

They also provided the stats that only 14% of the users use credit cards and most of them use it responsibly. Therefore the ban would be enforced by the banks and not by any government and the authority.

At the same time, there was a statement that I did like in the whole news:

“If we got more information from the banks that a card was suspect, we could shut it down,” he added. “If the banks notified us that this was a problem, we would be able to stop dealing with that problem, but this flow of information doesn't happen.”

-Exactly the problem here.
The governmental bodies and the banks thoroughly oppose gambling sometimes but at the same time they are not working together with the companies to make sure it's safe and more practical and therefore it's indeed hard for them to point fingers even though they did not try to work together.

I do think this sends a strong message about how things can be done in a better way, what do you think about it ?

https://www.gamblinginsider.com/news/13007/tabcorp-banks-should-be-responsible-for-online-gambling-credit-card-bans

Here everything is wrapped in a general purpose that exists in all countries but they do not say it very well totally, which is The Business Model, they do not make efforts to have a radical prohibition, they give a certain tolerance (and they assume a certain tolerance knowing that people are using it for gambling). If they cut off all the benefits that many use it for gambling, people will no longer be interested in acquiring credit cards, therefore they will not enjoy the debts and interests that guarantee profits for them.

Over time, they have to accept that the technology that improves economies, there is gambling and other activities that people seek and that many prohibit, if they refuse this, they would be dying their business little by little. And in addition to this, they are interested in generating money, the concern about possible addiction to gambling or other similar problems are simply masks.

[milewilda]

I don't see a problem with banning credit cards.

There is a reason why nobody in the cryptosphere is willing to accept credit card/Paypal payments.

It's way too clunky, there are huge transaction costs, and there are significant drawbacks such as the risk of getting carding fraud. If it's not worth it for the casino, why force them?

I have seen recently a crypto casino had made out some integrations about credit card payment deposits method.I just forgot the name
but eventually this had been already possible. https://bitedge.com/blog/bitstarz-becomes-the-1st-crypto-casino-with-credit-card-deposits/
When it comes to banning or something like this then it is usually in between banks and government neither gov't had really taken out those considerations
or would really be having that mutual agreement or does depend.

[wxa7115]

I remember the time I made the last topic about how the credit cards might be banned for the future gamblers. Apparently according to the tabcorp, banks are supposed to be responsible for the credit card bans.

They also provided the stats that only 14% of the users use credit cards and most of them use it responsibly. Therefore the ban would be enforced by the banks and not by any government and the authority.

At the same time, there was a statement that I did like in the whole news:

“If we got more information from the banks that a card was suspect, we could shut it down,” he added. “If the banks notified us that this was a problem, we would be able to stop dealing with that problem, but this flow of information doesn't happen.”

-Exactly the problem here.
The governmental bodies and the banks thoroughly oppose gambling sometimes but at the same time they are not working together with the companies to make sure it's safe and more practical and therefore it's indeed hard for them to point fingers even though they did not try to work together.

I do think this sends a strong message about how things can be done in a better way, what do you think about it ?

https://www.gamblinginsider.com/news/13007/tabcorp-banks-should-be-responsible-for-online-gambling-credit-card-bans

You have a point however the fact that we are talking about credit cards and not your regular bank accounts means at least to me that banks can do whatever they want, after all the money that you have available as credit in credit cards doesn't really belong to you but to the bank, and if they do not want you to spend that money in a casino then they are within their rights to block your card if that is what they want.

Now this will be completely different if we were talking about banks blocking your debit card, after all if gambling is legal in your country then you are within your rights to use your money in whatever way you want and if any bank did that to me I'll close my account and look for another one.

[Johnyz]

I don't see a problem with banning credit cards.

There is a reason why nobody in the cryptosphere is willing to accept credit card/Paypal payments.

It's way too clunky, there are huge transaction costs, and there are significant drawbacks such as the risk of getting carding fraud. If it's not worth it for the casino, why force them?

Thought its more convenient to use cards online, I also not agree to use it in your gambling activities since its not your real money, and banks might charge you more if you are not able to pay it on time. There’s a lot of options to fund your gambling activities, if you can’t do it with your own money better not to gamble at all.

[crzy]

I don't see a problem with banning credit cards.

There is a reason why nobody in the cryptosphere is willing to accept credit card/Paypal payments.

It's way too clunky, there are huge transaction costs, and there are significant drawbacks such as the risk of getting carding fraud. If it's not worth it for the casino, why force them?

Thought its more convenient to use cards online, I also not agree to use it in your gambling activities since its not your real money, and banks might charge you more if you are not able to pay it on time. There’s a lot of options to fund your gambling activities, if you can’t do it with your own money better not to gamble at all.

This is being greedy for me, borrowing money is not good for your gambling addiction because it can make you broke especially if you failed to control that addiction. Credit card is not good if you abused using it, charges and fees might already kill you and the pressure that you will get from the bank, its stressful so better not to use it at all.

[Ryker1]

Well, I agree with the banning of credit cards in gambling because that is very tempted to borrow cash from the bank just to gamble.
It should always gamble of what they can afford and not the fund that they borrowed just to gamble and I don't see the problem there, in fact --this has a good impact between the gamblers and the casino owners, it has a fewer chance that you will become a burden by a debt. The government will take action if they saw that this is not good for the community even though there is revenue but in exchange for damaging people life once they are addicted to it.

[Wakate]

I honestly don't see credit cards as being much of an issue.

As you mentioned, only 14% of people actually use credit cards to gamble.

The vast majority of these people are going to be legitimate gamblers. Only a small portion of them are going to be frauds - but that applies to virtually every payment processor/method.

Many fraud are being done through credit card which hard left many person to discriminate the use of it. Innocwy people end up being hacked if the mistakenly disclose there information or hackers linking credits to get the funds it. It all left to the government to do something about it not leaving it to the bank to decide.

[Quidat]

I honestly don't see credit cards as being much of an issue.

As you mentioned, only 14% of people actually use credit cards to gamble.

The vast majority of these people are going to be legitimate gamblers. Only a small portion of them are going to be frauds - but that applies to virtually every payment processor/method.

Many fraud are being done through credit card which hard left many person to discriminate the use of it. Innocwy people end up being hacked if the mistakenly disclose there information or hackers linking credits to get the funds it. It all left to the government to do something about it not leaving it to the bank to decide.

You cant really tell if those reasoning of being hacked would really be real or just an alibi from the user itself but with some investigation or something like that which could really be proven out.

When it comes to decision making then this is something that really needs some both take about or in regards the situation and also this is only one of the angle of possible usage of credit cards
which isnt really just limited for this one.

Not really that surprising that CC's would be mainly used but its not bad on having that initiative on banning but it is way too much considering this isnt the only usage of these
cards but people are really abusing it.

[Sterbens]

Why even talk about credit cards when you have crypto currencies to gamble with? The banks were never friendly with fiat casinos. They take every opportunity to ban or block users access to their cards as soon as they see a transaction made to a casino. I know they do it to "protect" their customers, but this was a choice made by their customer. Why is the bank interfering? And this is one of the reason why centralized banks are being hated right now. Use crypto currencies and play in crypto casinos. They are much better and more fair than your traditional online casino.

We should bet with crypto and don't want to make fiat a betting tool. Indeed, lately credit card transactions with casino have become the target of account blocking. So with crypto casinos already providing solutions, we are much more confident in crypto casinos to bet on big and small stakes. Because as far as I have experienced betting in fiat casino, especially in the online casino available in my country, on average everything is just manipulating and creating unfair play. A prominent comparison we can see in crypto casino.

[Dragonfund]

If banks would ban credit card usage for gambling, people would be responsible for using their credit cards. We all know that most people have fallen into gambling addiction because they rely on their credit card funds where they could easily gamble through it. If banks could control it, then they could also control or lessen the gambling addiction of some of their users.

Gambling is supposed to be fun, especially for sports fans, and not to become hooked to it, but the truth is that many people have turned it into a full-time career. I don't see anything wrong with it but some folks simply don't know when to quit. They would rather go the extra mile to find finances to play more at the risk of their demise than accept their loss and restructure their flow. This is one of the reasons why the government is concerned.
This is not the best approach pushing blame on the banks, they exist to make a profit, and it is the responsibility of the consumer to manage their funds as they see fit. Furthermore, the government received internal revenue from these banks by charging gamblers fees, why turning back now.

[harizen]

Why even talk about credit cards when you have crypto currencies to gamble with? The banks were never friendly with fiat casinos. They take every opportunity to ban or block users access to their cards as soon as they see a transaction made to a casino. I know they do it to "protect" their customers, but this was a choice made by their customer. Why is the bank interfering? And this is one of the reason why centralized banks are being hated right now. Use crypto currencies and play in crypto casinos. They are much better and more fair than your traditional online casino.

Not all gamblers are into crypto-gambling. And you are wrong that banks are not friendly with fiat casinos. It's been ages already that banks are dealing with fraud-related activities with credit cards in fiat casinos but still, they are not totally banning the use of it since the purpose is "convenience" and banks are getting profits from it. It means they can handle the case and able to trace those moles.

They take every opportunity to ban or block users access to their cards as soon as they see a transaction made to a casino. I know they do it to "protect" their customers, but this was a choice made by their customer. Why is the bank interfering?

On what part does the bank interfering with that? Credit cards will not be blocked if transactions are smooth even it was on fiat casinos. Can you elaborate what's your point there or give an example much better.

And this is one of the reason why centralized banks are being hated right now.

Just because of gambling? lol .

Fiat casinos are supposed to be centralized and they are like that since the beginning. They are under regulatory. What do you expect on fiat casinos?

[iTradeChips]

While this is being discussed, I did some research and thought to myself that this might be actually a good instance, as less and less people being controlled by the credit card companies, then less and less people will likely to gamble or use gambling sites online, even the small time online casinos that lets you do small bets. Less people gambling then less people put down by crippling debt. Surely there would also be more better ways of making people responsible gamblers.

[michellee]

Well, I agree with the banning of credit cards in gambling because that is very tempted to borrow cash from the bank just to gamble.
It should always gamble of what they can afford and not the fund that they borrowed just to gamble and I don't see the problem there, in fact --this has a good impact between the gamblers and the casino owners, it has a fewer chance that you will become a burden by a debt. The government will take action if they saw that this is not good for the community even though there is revenue but in exchange for damaging people life once they are addicted to it.

Most people will not get revenue from the gambling games instead of losing their money for the most. Maybe the banks and the government do not want people to lose their money because of using credit cards to play gambling. The banning of credit cards can protect people from using them for the wrong purpose, such as playing gambling. But that can attract people to search for the other way to keep playing gambling so the government and the banks should be aware of that.

[wxa7115]

Well, I agree with the banning of credit cards in gambling because that is very tempted to borrow cash from the bank just to gamble.
It should always gamble of what they can afford and not the fund that they borrowed just to gamble and I don't see the problem there, in fact --this has a good impact between the gamblers and the casino owners, it has a fewer chance that you will become a burden by a debt. The government will take action if they saw that this is not good for the community even though there is revenue but in exchange for damaging people life once they are addicted to it.

Most people will not get revenue from the gambling games instead of losing their money for the most. Maybe the banks and the government do not want people to lose their money because of using credit cards to play gambling. The banning of credit cards can protect people from using them for the wrong purpose, such as playing gambling. But that can attract people to search for the other way to keep playing gambling so the government and the banks should be aware of that.

But that is the issue here, if we were talking about debit cards then this would bother me because as long as you are using your money in an activity that is legal then you should be free to use your money in whatever way you want.

But they are banning the use of credit cards for gambling, if a person borrowed money from a friend with the excuse he was short on cash to pay rent or other necessities and instead they gambled that money away we will think that to be wrong and the same is happening here, those that are gambling with credit cards are doing so with money that is not theirs so the banks are withing their rights to disallow this use if that is what they want.