New Solution to Address the Problem of Gambling in Australia.

[Vaculin]

Ban credit cards directly huh? Nice try but a band aid solution. These regular gamblers will still find a workaround for that. They can buy USDT on an exchange accepting credit cards and send it to a crypto gambling. It's a longer route but still bypasses the restriction.

Probably this can only be applicable to physical casinos but if we are talking about online here, I agree on this one. Gamblers have to remember the risk of using credit card especially if you are going to use it for your gambling activities, borrowing money for gambling is not good at all. Even if you can pay it on time, you might still experience bigger problem with your credit card, the solution here is more about self-control.

Self-control is the key, but we know as gamblers we hardly find it hard to control ourselves once we are in the verge of gambling. So I am very positive that this banning of credit cards will gradually work in the long run. Although as gamblers we should also be responsible of our own finances, but prohibiting the use of credit cards could be very helpful from keeping the gamblers away from falling into debts.

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[goldkingcoiner]

Sportsbet, an Australian betting giant, has said that it will support any move to prohibit the use of credit cards for gambling. The operator said that this type of payment method promoted a “play now, pay later” culture which was detrimental to the well-being of players and consumers. Here is a summary of the news below

The problem:Gambling with credit cards is high-risk in nature and could have serious financial consequences.

Proposed solution: Responsible Wagering Australia is putting forth a new interactive gambling legislation should block operators from offering credit cards as viable payment methods.

The Challenge: If this legislation is implemented, it would also affect lottery tickets, which would not be purchasable through credit cards anymore.

How Sportsbet is working to address the problem - They are building a “real-time intervention” solution that will allow it to leverage the power of AI to quickly predict customers’ daily deposits and send alerts when the depositing amounts begin to climb up too rapidly.

What other solutions can you think of?

Read the full news here

I had to read this multiple times and still cannot understand why exactly gambling with credit cards is more high risk than gambling with cash, for example? If a gambler has a huge gambling problem, up to the point that his life is turned upside down and he needs to take a loan out, he will not be saved by having been denied a credit card. More tempted? Sure. But people who reach that low point are not going to be hard to persuade to do something stupid.

[blockman]

Honestly, that's a good solution already to have it remove having like the edge of the sword the credit card users and at the same time gamblers. Having that interest to pay and a loss on them would be hitting them hard for sure.
As they remove the credit cards as a payment gateway, they can just have the traditional method of cash or bank transfers plus having bitcoin to be supported by the casinos there.

This initiative will limit a lot of gamblers that are relying on their credit cards to bet.
Maybe, their government has been seeing a lot of problems owed to the usage of credit cards in gambling.
Definitely, heavy debts from financial institutions and other related consequences owed to this situation.
This will give the option to the gamblers to just use the money what they can afford to lose by using their cash or debit cards.
Maybe these credit card companies are also having their hard time getting the payment even if they are getting the interests from these people.

There is for sure a reason why they've taken a decision to do this because of some metrics that their government has seen. And they have to do something about it or else many will suffer from getting the debt and losing it to the casinos there.
That's why it's a good step but whoever can think of a better way for them to help these people but at the same time won't compromise the business of legitimate casinos there, that's much better.

[Fivestar4everMVP]

This is a good development as well as initiative, and I am happy that sportsbet, a casino well known on this forum is the one taking the bold step to see that this is achieved, and not just the government.

I can tell us all that from the news I read recently about gambling in Australia, the rate of gambling addicts and suicide resulting from gambling abuse is so alarming, it was about time that something needed to be done, and I must agree that putting and end to the use of credit cards for purchase of bets and gambling will go a long way in reducing the crime rate resulting from gambling in the country, this won't completely solve the problem though, but it is a good step in the right direction.

[Hydrogen]

Most regulation I have seen closes doors and opportunities for businesses and consumers. This is the type of regulation I don't support. As an american I would like to use fantasy sports platforms like fanduel or draftkings. But can't. Due to those being banned by regulation. As an american, I would like to trade crypto on a platform with leverage. But can't as it is banned by regulation. Crypto spot ETFs banned by regulation. A lot of fun, cool and profitable things are banned by regulation.

China's deregulatory model is a better approach for creating jobs and boosting GDP. If there is anything the west can learn from china, its that many of these regulations are unnecessary and create market inefficiencies which decrease our own standards of living.

[bitbollo]

the real solution to be adopted should be cultural and educational because the problem in itself is linked to this wrong approach. Legislation Is the first approach but I am not sure this is enough.

Australia is always forward thinking with social policies, I think if you know them from other initiatives you can be pretty sure this Is an example of strategies that can e adopted even at a global level.

[harizen]

They created the problem in the first place that's why prohibiting the use of credit cards in gambling should be enforced by these gambling operators.

I also don't see why gambling sites should do that where in the first place, it will obviously lead to a disaster. More of a greed type for me.

But as far as I know, there are banks that prohibits the use of their credit cards in gambling service. In that case, though, looks like all banks there in Australia are gambling-friendly and they allow any type of transaction e.g gambling, etc.

[Lanatsa]

They created the problem in the first place that's why prohibiting the use of credit cards in gambling should be enforced by these gambling operators.

I also don't see why gambling sites should do that where in the first place, it will obviously lead to a disaster. More of a greed type for me.

But as far as I know, there are banks that prohibits the use of their credit cards in gambling service. In that case, though, looks like all banks there in Australia are gambling-friendly and they allow any type of transaction e.g gambling, etc.

What would you expect? They are businesses which they would really be trying out their best on integrating all of the possible options on which a gambler could make out a deposit since they are really after on

making revenue or profits which it is understandable that they would be allowing credit cards for that.They dont really care on their users condition or in speaking with gambling addiction.

They wont really care as long they do make money and that whats important.Now that they are trying to find out a solution then it wont really be correct on suing out those credit cards or simply with banks
but rather making those gambling operators do stop nor prohibit that cc option.

[Viscore]

Sportsbet, an Australian betting giant, has said that it will support any move to prohibit the use of credit cards for gambling. The operator said that this type of payment method promoted a “play now, pay later” culture which was detrimental to the well-being of players and consumers. Here is a summary of the news below

The problem:Gambling with credit cards is high-risk in nature and could have serious financial consequences.

Proposed solution: Responsible Wagering Australia is putting forth a new interactive gambling legislation should block operators from offering credit cards as viable payment methods.

The Challenge: If this legislation is implemented, it would also affect lottery tickets, which would not be purchasable through credit cards anymore.

How Sportsbet is working to address the problem - They are building a “real-time intervention” solution that will allow it to leverage the power of AI to quickly predict customers’ daily deposits and send alerts when the depositing amounts begin to climb up too rapidly.

What other solutions can you think of?

Read the full news here

I had to read this multiple times and still cannot understand why exactly gambling with credit cards is more high risk than gambling with cash, for example? If a gambler has a huge gambling problem, up to the point that his life is turned upside down and he needs to take a loan out, he will not be saved by having been denied a credit card. More tempted? Sure. But people who reach that low point are not going to be hard to persuade to do something stupid.

That is already a sign of gambling addiction, being able to do things out of his character and out of his control. However, I do believe that depriving those gamblers from using their credit cards will also bring a positive effect and will lessen the risk of seeing them being addicted to gambling. But for other gamblers who are unstoppable and seem to freak out once deprived from gambling, the said solution will not be effective anymore. Those types of gamblers should be banned by all means, otherwise they will end up being harmed or they will cause harm to other gamblers in the casinos.

[alegotardo]

What other solutions can you think of?

Read the full news here

I see this with good and bad reasons...

First, that Sportsbet's reasons are valid, as many people still do not know how to use their credit card wisely and responsibly, and when it involves gambling addiction, this ends up becoming a real economic disaster for players.

On the other hand, people who consciously use credit cards already have the habit of using only this modality because with this they accumulate various benefits such as cashback, points and miles with their banks. So, prohibiting them from using it could be a big setback and even make these players stop using a certain site and migrate to the competition.

I believe that Sportsbet should adopt a model of conscientious use... players who already have some "reputation" on the site and who play frequently should have a higher "limit" for using their credit card. While new or sporadic players should have a lower limit or even blocking this type of payment.

[Casdinyard]

Sportsbet, an Australian betting giant, has said that it will support any move to prohibit the use of credit cards for gambling. The operator said that this type of payment method promoted a “play now, pay later” culture which was detrimental to the well-being of players and consumers. Here is a summary of the news below

The problem:Gambling with credit cards is high-risk in nature and could have serious financial consequences.

Proposed solution: Responsible Wagering Australia is putting forth a new interactive gambling legislation should block operators from offering credit cards as viable payment methods.

The Challenge: If this legislation is implemented, it would also affect lottery tickets, which would not be purchasable through credit cards anymore.

How Sportsbet is working to address the problem - They are building a “real-time intervention” solution that will allow it to leverage the power of AI to quickly predict customers’ daily deposits and send alerts when the depositing amounts begin to climb up too rapidly.

What other solutions can you think of?

Read the full news here

I think such move is a big step towards creating more responsible gamblers. I know everyone is entitled to their own choices and lives but intervention like these are very helpful in preventing people who have lost their control to finally get back on the driver's seat of their lives. Credit card gambling may seem miniscule to some but this is one of the biggest reasons why addicted gamblers eventually lose all their money in the process, especially in poor to middle-class families. Hope something like this gets onboarded not only in Australia but to countries where risks of getting in too deep into gambling is fairly common, Thailand and US for instance. I think lottery tickets being included in this imposed ban isn't overkill as well but a necessary addition.

[Wexnident]

I don't think there are any other possible solutions since the problem itself is with the usage of credit cards, as Op have said. Any solution brought about would require NOT using credit cards anymore since you'd either be using an alternative, or you'd just outright ban it, which basically leads to the same result (which is good in the context of the problem imo).

As for Sportsbet's solution, I highly doubt it'd be useful. Alerts are just that, alerts, they are easily bypassable and don't actively do anything to stop a gambler from going past a certain amount. If they instead set up a system where the account is locked for a set amount of time after a report from their AI was sent, say maybe 10 minutes or so, it'd probably be more effective than alerts.

If the problem, in general, was users depositing "too much" in a set amount of time, what I said earlier about a lock would probably be for the best. Ofc it can easily be bypassed by switching accounts, but that's another issue altogether imo.

[Ben Barubal]

Self-control is the key, but we know as gamblers we hardly find it hard to control ourselves once we are in the verge of gambling. So I am very positive that this banning of credit cards will gradually work in the long run. Although as gamblers we should also be responsible of our own finances, but prohibiting the use of credit cards could be very helpful from keeping the gamblers away from falling into debts.

   You are right in saying this, so most gamblers do not get to control themselves when they are playing a casino, especially when they experience frequent wins.

In addition to that, I also don't think that cryptocurrency gambling platforms will allow them to remove credit cards when it comes to making a deposit transaction, which is the only thing gamblers can do to exercise self-control, they should train themselves not to carry any debit card or credit cards to avoid to use the budget they have in which is alloted for the other things.

[piebeyb]

Sportsbet, an Australian betting giant, has said that it will support any move to prohibit the use of credit cards for gambling. The operator said that this type of payment method promoted a “play now, pay later” culture which was detrimental to the well-being of players and consumers. Here is a summary of the news below

The problem:Gambling with credit cards is high-risk in nature and could have serious financial consequences.

Proposed solution: Responsible Wagering Australia is putting forth a new interactive gambling legislation should block operators from offering credit cards as viable payment methods.

The Challenge: If this legislation is implemented, it would also affect lottery tickets, which would not be purchasable through credit cards anymore.

How Sportsbet is working to address the problem - They are building a “real-time intervention” solution that will allow it to leverage the power of AI to quickly predict customers’ daily deposits and send alerts when the depositing amounts begin to climb up too rapidly.

What other solutions can you think of?

Read the full news here

it's great preventing people from going into debt from credit card bills just because it stops them when they get out of control from gambling and spending a lot of money but that way is actually easy to solve by buying crypto on exchange sites with credit card then depositing crypto to sportsbet i think payment crypto could be the solution

[Ararbermas]

  You are right in saying this, so most gamblers do not get to control themselves when they are playing a casino, especially when they experience frequent wins.

In addition to that, I also don't think that cryptocurrency gambling platforms will allow them to remove credit cards when it comes to making a deposit transaction, which is the only thing gamblers can do to exercise self-control, they should train themselves not to carry any debit card or credit cards to avoid to use the budget they have in which is alloted for the other things.

there's alway a solution and for sure those addicted to gambling can make a solution for that as well to keep going their habits.  For me i think much better to put limit on every users in exchanges especially if they can detect that the address is from gambling platform so for sure it will work to solve the problem especially those countries that really spending too much money in gambling.

[Kakmakr]

There are no credit cards for Bitcoin payments, so the easy solution will be to only accept Bitcoin as a payment option. In reality this will not help at all, because people will go buy "items" legally with their credit cards and then they will go to a Pawn shop and sell those items and then use that money to gamble. 

I would rather ask for regular "Proof of income" and then based on that, determine what percentage of that.... people should be allowed for deposits. (I know that might be controversial too, because then governments tell you how to spend your money... but if a "problem" gambler are identified... methods like this, might be the only workable solution)

[Strongkored]

It's a good idea to avoid bad financial problems for the users, because maybe they can't control themselves so when the credit card has not reached the limit they will continue to use it to gamble, and many other casinos should do the same even though the players will try to find ways to play with their credit cards because no system works perfectly, most of them can only reduce it.

[madnessteat]

~snip~

In my opinion, the initiative to ban the acceptance of credit cards in gambling establishments is simply useless. Any sane person understands that.

I can easily buy cryptocurrency from a credit card and convert it to cash or gamble using the cryptocurrencies received.

This kind of initiative is really just for PR and nothing more. Such initiative can restrict from gambling only a person who does not use Internet and cryptocurrencies and has no desire to develop his skills to bypass various blockages of the state. But fortunately, there are fewer such people.

[Yatsan]

  You are right in saying this, so most gamblers do not get to control themselves when they are playing a casino, especially when they experience frequent wins.

In addition to that, I also don't think that cryptocurrency gambling platforms will allow them to remove credit cards when it comes to making a deposit transaction, which is the only thing gamblers can do to exercise self-control, they should train themselves not to carry any debit card or credit cards to avoid to use the budget they have in which is alloted for the other things.

there's alway a solution and for sure those addicted to gambling can make a solution for that as well to keep going their habits.  For me i think much better to put limit on every users in exchanges especially if they can detect that the address is from gambling platform so for sure it will work to solve the problem especially those countries that really spending too much money in gambling.

Would be impossible for such thing to happen. Ehy would they limit transactions because of a possibility alone?, Better solution is not to use credit card directly to avoid linkage between the bank acc and gambling platform especially if it is crypto based. For sure there are credits or tokens being used in order for a player to play , so there's really no need for using it directly. In such way, the fiat amount converted into that certain token and your fiat would be safe from being accessed by the gambling casino. Checking as well the credential and reputation of a gambling casino would surely lessen the worries of players.

[Slow death]

Most regulation I have seen closes doors and opportunities for businesses and consumers. This is the type of regulation I don't support. As an american I would like to use fantasy sports platforms like fanduel or draftkings. But can't. Due to those being banned by regulation. As an american, I would like to trade crypto on a platform with leverage. But can't as it is banned by regulation. Crypto spot ETFs banned by regulation. A lot of fun, cool and profitable things are banned by regulation.

China's deregulatory model is a better approach for creating jobs and boosting GDP. If there is anything the west can learn from china, its that many of these regulations are unnecessary and create market inefficiencies which decrease our own standards of living.

but china also banned people from their country from using cryptocurrency exchanges, i wonder if people from china can use cryptocurrency casinos? it seems to me that they cannot use cryptocurrency casinos, most governments restrict people, they make laws that are somehow meaningless, because the people who make these laws do not do what they are approving, they have no practical experience of what they are approving then at the end of the day just have assumptions and they make laws based on their assumptions. for example in this case it's credit cards, I believe they haven't even done any research to determine how many people use credit cards for gambling, they've just passed laws based on the assumption that people will misuse their credit cards with gambling

In my opinion, the initiative to ban the acceptance of credit cards in gambling establishments is simply useless. Any sane person understands that.

most of these people who pass laws don't seem to think, that's why I said they don't even do research, they don't do tests themselves to see to what extent what they will prove will be good or not, you set a good example of how useless was the approval of this law, people can use a credit card to buy cryptocurrencies and play and that means that they are using a credit card to play, each person is free to do whatever they want with their money, it makes no sense for a government to determine how people should use their money