Australia will ban Gambling through credit cards

[coin-investor]

My question is If they legislate to ban gambling then what other legislation will they do to establish another recreation for the Australian populace that will have the attributes of gambling but without money. Australia is not part of those countries hitting against gambling.

People have to gamble for different purposes, like relaxation, fun moment to stay out of stress etc and they shouldn't focus on the money they feel are spent on it, moreover it is the individual money and not government money so what is the issue with that?

Australian people love to have fun and they want to be entertained if their government is going to ban online casinos they are likely to go support underground online casinos or frequent physical casinos, there are gamblers who are very used to playing online so they are the one who will likely suffer from the enaction of this bill.

The government just wants to cut the huge losses of gamblers from online casinos but they should focus more on educating gamblers and setting up more rehabilitation, you cannot stop people from changing their ways, many of them will find a way to play online, even if it means using VPN or relocating.

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[Wexnident]

Australia is looking to ban credit card usage in online gambling. The reason they give is that Australia loses 25 billion dollars only in gambling in a year. That is a big amount indeed.

Although the title says, the ban of credit cards but when you read the actual news it says that they will ban crypto usage in online gambling too.

The Bill, set to be introduced to federal parliament on Wednesday, will illegalise the use of credit cards and digital currencies in online wagering and slap fines up to $234,750 on companies that don’t enforce the ban.

Is this bill means that Australia is going to ban online gambling because if people can't use a credit card or crypto, how will they do online gambling?

Wait, "lose"? So I guess we can assume that Australians play on foreign casinos, I reckon they can just create their own local (or promote one) online casino to combat this. I don't really think you'd consider it as a "loss", that kind of math just sounds wrong imo.

On the topic of banning, I'm just surprised they didn't outright ban online casinos and instead credit card and crypto usage. Kind of odd really, are there other alternatives outside of these two? Paypal is one that comes on the top of my head but I'm not sure if casinos accept payments through it.

[Queentoshi]

Is this bill means that Australia is going to ban online gambling because if people can't use a credit card or crypto, how will they do online gambling?

I am sure the gamblers there will find a way to still gamble, but this will have the effect of discouraging many people from gambling, as the process will become more difficult, and many people may not like the difficulties now involved in doing something that was very easy to do before. It will reduce the number of gamblers in the country which I think is in the focus for the government who have approved this new policy. When there are too many gamblers in a country, it can become a problem, this may be what they are trying to avoid.

[Hypnosis00]

If they can't use a credit card or crypto for gambling, then there's only one way left, and that is to fund through a debit card. I think banning credit cards for gambling is justifiable, as it could result in increased debt due to irresponsible gambling. However, banning crypto, I believe, is something wrong because it's similar to a debit card where you need to fund in order to gamble; it only differs in currency.

[iv4n]

Australia is looking to ban credit card usage in online gambling. The reason they give is that Australia loses 25 billion dollars only in gambling in a year. That is a big amount indeed.

Although the title says, the ban of credit cards but when you read the actual news it says that they will ban crypto usage in online gambling too.

The Bill, set to be introduced to federal parliament on Wednesday, will illegalise the use of credit cards and digital currencies in online wagering and slap fines up to $234,750 on companies that don’t enforce the ban.

Is this bill means that Australia is going to ban online gambling because if people can't use a credit card or crypto, how will they do online gambling?

Wait, "lose"? So I guess we can assume that Australians play on foreign casinos, I reckon they can just create their own local (or promote one) online casino to combat this. I don't really think you'd consider it as a "loss", that kind of math just sounds wrong imo.

On the topic of banning, I'm just surprised they didn't outright ban online casinos and instead credit card and crypto usage. Kind of odd really, are there other alternatives outside of these two? Paypal is one that comes on the top of my head but I'm not sure if casinos accept payments through it.

I also doubt that Australians "lost $25B", probably they are talking just about deposits... It's not like that people just lose in gambling. Just sensationalistic headlines and big words/numbers to trick people into believing that new rules and regulations are necessary. Classical government propaganda.

I guess that the Australian government can try to ban crypto gambling, will be interesting to see how they plan to do it and whether will they succeed or not. It's different with credit cards, banks have all the control and they will do what they want... but with crypto it's different.

[TopTort777]

Australia is looking to ban credit card usage in online gambling. The reason they give is that Australia loses 25 billion dollars only in gambling in a year. That is a big amount indeed.

Imho that is a stupid move and no one gonna support that. First of all, bank cards - that is something that is under control so far. If they ban card usage in online gambling, gamblers would find a way to make deposits anyway, but that will cause of shady economy increase. Second - they are limiting card users right, they are limiting bank incomes from card usage. How they gonna cover bank losses? Third - what does "Australia loses 25 billions bucks" means? Maybe bank clients have spend 25 billions on gambling? Not saying that all of those 25 billions were spent on foreign gambling sites, but some of these 25 billions were definitely spend on Australia gambling sites. Which means Australia gain income tax from that. I doubt that government would accept to decrease budget revenues.

[jrrsparkles]

The Bill, set to be introduced to federal parliament on Wednesday, will illegalise the use of credit cards and digital currencies in online wagering and slap fines up to $234,750 on companies that don’t enforce the ban.

Is this bill means that Australia is going to ban online gambling because if people can't use a credit card or crypto, how will they do online gambling?

More Reading:-
Australia to ban the use of credits cards in online gambling

I don't think the digital currencies mentioned here not seem to be cryptocurrencies in my opinion, they just want to ban people from gambling with money that is not their own like said credit card that belongs to banks, and if people default the due amount after losing on gambling it will affect the banks so obviously it will reflect on the government too.

So this is an entirely good thing for everyone to stop taking risk with the money that they actually don't have.

[blockman]

I guess that the Australian government can try to ban crypto gambling, will be interesting to see how they plan to do it and whether will they succeed or not.

That's a good idea and they can run a pilot testing about that. IIRC, there's been an airport that had allowed bitcoin or crypto payments so there's not that much of an issue there. And with them banning crypto gambling, that would probably give a lot of eyes but wasn't it them when they've also done something about online gambling?

It's different with credit cards, banks have all the control and they will do what they want... but with crypto it's different.

Yeah, they're different but maybe they're going to include the other side which is crypto but hopefully they won't be tough and harsh on it.

[Blitzboy]

Australia is taking clear steps to cut down on the costs of online gambling. Even though they focus on credit cards, the fact that digital currencies are also banned makes the situation even worse. However, the ban doesnt necessarily signal the end of online gambling.

Think about this: traditional banks have more ways to pay online than just credit cards. Think about straight bank transfers, e-wallets, or even third-party payment providers. The bill directly goes after credit cards and cryptocurrencies, leaving the door open for other ways for payment. The goal seems to be to stop people from making hasty purchases and make online gambling safer, rather than to shut it down completely. A balanced perspective is needed while assessing the long-term implications of this bill

[Yogee]

This does not make sense at all...... "Credit cards" are debt..... and Crypto currencies are not debt.

Yes and that's why I think they were just reaching on digital currencies.

Australia is looking to ban credit card usage in online gambling. The reason they give is that Australia loses 25 billion dollars only in gambling in a year. That is a big amount indeed.

Imho that is a stupid move and no one gonna support that. First of all, bank cards - that is something that is under control so far. If they ban card usage in online gambling, gamblers would find a way to make deposits anyway, but that will cause of shady economy increase. Second - they are limiting card users right, they are limiting bank incomes from card usage. How they gonna cover bank losses?

How is it stupid when they are only banning credit cards? I think you are confused and mixing CC with debit cards or ATM cards. It's a matter of betting the money you don't have at the moment which is cr. card VS. money that's deductible to your account upon depositing.

Third - what does "Australia loses 25 billions bucks" means? Maybe bank clients have spend 25 billions on gambling? Not saying that all of those 25 billions were spent on foreign gambling sites, but some of these 25 billions were definitely spend on Australia gambling sites. Which means Australia gain income tax from that. I doubt that government would accept to decrease budget revenues.

It's "Australians" which refers to the people and not "Australia" the Government. That means it's the gamblers that are losing $25 Billion each year. The proposed bill is also aimed at protecting those people.

[NotATether]

Australia is looking to ban credit card usage in online gambling. The reason they give is that Australia loses 25 billion dollars only in gambling in a year. That is a big amount indeed.

That would make sense if the gambling industry is a frequent source of chargebacks, it means the banks belonging to the casinos have to shelf the loss when someone deposits in a casino and then files a dispute to get a refund. Or possibly the other way around but for withdrawals.

Although the title says, the ban of credit cards but when you read the actual news it says that they will ban crypto usage in online gambling too.

Australia is known for making a bunch of crazy regulations regarding crypto, so I guess this is one of them. There are no chargebacks in crypto so I don't see what they are trying to accomplish with that.

[Rabata]

As far i know they only banned online credit card gambling. They have enough reasons for this. If the government of any country takes any decision that is good for its people, it must be appreciated. I wouldn't say gambling is bad but gambling can lead to disaster for those who become addicted to gambling. We know that with a credit card a gambler can manage his gambling with a bank loan as per his wish. As a result, those who become addicted find themselves in great financial trouble. Since there are other means of gambling, not being able to use a credit card will not be a big problem. But that would be perceived as a negative aspects for responsible gamblers.

[Davidvictorson]

Australia is looking to ban credit card usage in online gambling. The reason they give is that Australia loses 25 billion dollars only in gambling in a year. That is a big amount indeed.

Gambling with credit cards is tantamount to gambling with with borrowed money. I know that ideally in the west using credit cards isn't seen as a hug deal but the financially prudent person or the responsible gamble who has a budget and who has a proper bank roll management would understand this is financial trap that aids gambling addiction because since the money is readily available you keep increasing you debts because of your gambling habit.

Although the title says, the ban of credit cards but when you read the actual news it says that they will ban crypto usage in online gambling too.

Quite frankly, they should leave crypto alone. By the way how do they intend to accomplish this. The gambling operators themselves know that the crypto option is one of the deposit and withdrawal methods that attracts customers. It proves that they are advance. I know they will fight it.

[ethereumhunter]

We'll see what happens next, as the bill will probably face a variety of considerations before it is passed. But if it is true that the bill prohibits the use of credit cards and digital currency, maybe people will look for other ways so they can continue gambling.

A gambler will remain a gambler and they can find other ways if there is a ban on gambling. And nothing can stop them unless gambling is completely banned in the country. So let's just wait for the next news.

[acroman08]

What about offline gambling? If use of credit card is being prohibited for online gambling then it should be applied for offline gambling too. I understand credit card is a form of lending and gambling using loaned money is not advisable. Why then target online gambling it should be applied for any form of gambling.

the article mentioned that credit cards are already prohibited from being used on land-based wagering in Australia, I guess banning credit cards on online casinos is their next step.

anyway, what I don't really understand is why they plan to ban digital money too, I mean, digital money is not the same as credit cards.

[Yaunfitda]

Australia is looking to ban credit card usage in online gambling. The reason they give is that Australia loses 25 billion dollars only in gambling in a year. That is a big amount indeed.

Imho that is a stupid move and no one gonna support that. First of all, bank cards - that is something that is under control so far. If they ban card usage in online gambling, gamblers would find a way to make deposits anyway, but that will cause of shady economy increase. Second - they are limiting card users right, they are limiting bank incomes from card usage. How they gonna cover bank losses? Third - what does "Australia loses 25 billions bucks" means? Maybe bank clients have spend 25 billions on gambling? Not saying that all of those 25 billions were spent on foreign gambling sites, but some of these 25 billions were definitely spend on Australia gambling sites. Which means Australia gain income tax from that. I doubt that government would accept to decrease budget revenues.

It's going to be a big lost to the gambling industry in Australia if they have this kind of bill. I guess they just want to protect Australians who become so addicted already that those people might be going a lot just in order to pay their debts.

But there are still land base casinos in Australia so I guess this bill will not help the gamblers per se, as they can just continue with their gambling addiction and maybe taking a loan from someone is. So for me, it's not going to be an effective measure in the long run.

[coinerer]

Is this bill means that Australia is going to ban online gambling because if people can't use a credit card or crypto, how will they do online gambling?

How australian government can track who use crypto? where many Non-custodial wallet is available for crypto holding. and no one can control that fund without wallets owners. Australia can ban cradit card for gambling website because cradit card are issued by a bank and bank can control that card anytime. but government can't control crypto in any way so australian gamblers can gamble with crypto Although they ban crypto in there country.

[Odohu]

Australia is always fond of conditioning their citizens on how to spend their funds and I don't know why they do that. I remembered when they placed limitation on their citizens on how much they can fund their trading accounts with siting that their citizens were not making good returns from trading.

Even though this might look like them watching the back of their citizens, a closer look at it will unmask their actions as sensorship in disguise.

I just hope the citizens will see the handwriting on the wall and resist some of these actions as their disadvantages, on the long run, far outweigh their advantages. 

[Die_empty]

Is this bill means that Australia is going to ban online gambling because if people can't use a credit card or crypto, how will they do online gambling?

I am sure the gamblers there will find a way to still gamble, but this will have the effect of discouraging many people from gambling, as the process will become more difficult, and many people may not like the difficulties now involved in doing something that was very easy to do before. It will reduce the number of gamblers in the country which I think is in the focus for the government who have approved this new policy. When there are too many gamblers in a country, it can become a problem, this may be what they are trying to avoid.

This will also give rise to illegal gambling in Australia. Gamblers in Australia will start patronizing unregistered casinos that are not regulated.  The use of VPN to bypass these restrictions will increase to a large extent. With the rise of black market casinos, scams will also increase which will even make Australia lose more money. The government will also lose tax revenue in billions of dollars. This proposed ban for me is unnecessary because the government can devise other means of regulating gambling and reducing addiction. They can restrict the amount that gamblers can use for gambling. Banks and other card issues can partner with casinos and banks to place a benchmark on the amount each person can stake over a while.

[Wind_FURY]

Australia is looking to ban credit card usage in online gambling. The reason they give is that Australia loses 25 billion dollars only in gambling in a year. That is a big amount indeed.

That's a laughable move from their policy makers in Australia because it won't stop the people from losing billions more in illegal gambling. People won't stop gambling, but they're killing an industry for legal gambling.

Although the title says, the ban of credit cards but when you read the actual news it says that they will ban crypto usage in online gambling too.

The Bill, set to be introduced to federal parliament on Wednesday, will illegalise the use of credit cards and digital currencies in online wagering and slap fines up to $234,750 on companies that don’t enforce the ban.

A true censorship-resistant, permissionless cryptocurrency = Bitcoin can't be stopped. It will find market inefficiencies and make them more efficient, legally AND illegally.