Australia will ban Gambling through credit cards

[bittraffic]

It's going to affect not just the fiat-based casino but the crypto as well. The Bitcoin casinos are also offering credit card options in order to buy BTC such as Moonpay.

If it's done in Australia, it will just be a matter of time before it could also be done to the rest of the world. Banks are squeezing credit card users because there are so many delinquent payers already. They were abusing those cards and not paying their debts.

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[acroman08]

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.

there was no mention in the article that they will track individuals who use cryptocurrency for gambling, but what was mentioned in the article is that the government will fine the companies/gambling sites that do not enforce the ban. also, they are not trying to control cryptocurrency and they are not banning cryptocurrency in their country, they are just prohibiting gambling sites in their country from accepting cryptocurrency in their online casino.

[Frankolala]

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.

They never said that they are banning gambling completely, but only online gambling. This is because it is making their citizens to be on debt using their credit cards to gamble online. From my understanding they don't want their citizens to involve in online gambling.

I believe that there are land based casinos that citizens can go and gamble to have fun, because gambling is a legal activity in Australia. They want to also reduce the rate at which people gamble, because online gambling give easy access to gamblers both underage gamblers. If you also look at it from this side, maybe the government couldn't get their taxes from the online casinos and therefore choose to throw them out of business. Since it is easy to tax a land based casino.

[gunhell16]

25 billion dollars in a year is too much in one year in one country, in my opinion. This also means that the habit of many citizens in Australia is to gamble online. or maybe the others are addicted to gambling. When gambling becomes a habit, people will eventually become lazy and depend on gambling online.

It's not very good when people become habitual with them. It just means that the government cares a lot about that country and does not want its citizens to become dependent on gambling, and I also think that there is nothing wrong with that decision of the Australian government.

[Webetcoins]

I've always had the impression that Australia is against gambling because they are always doing something to prevent people from gambling or getting involved in any way. Previously, there was news that said that they were going to ban online gambling advertisements, and now, it is clear that they don't want any online gambling platforms to operate within the country and the reason has been disclosed which was unknown before this news.

However, I don't understand why they say that they lose 25 billion dollars in gambling in a year. Does this mean that the online gambling platforms don't pay them taxes? And even if people aren't losing money to gambling, they will be spending it somewhere else and the tax will still be the same for the government.

[ChiBitCTy]

I have to say that at first thought I was thinking this is a pretty good idea as many people simply can't handle the freedom of being able to gamble on loaned credit, as they will end up getting in over their heads and building up a good deal of debt.  However, I am not a fan of government "overreach" so at the same token I understand what it's aimed at doing, however if people want to screw themselves with debt, than why not let them?

[tusandii]

After reading the article, I have a slight opinion that Australia's efforts to ban the use of credit cards for online gambling have a very good aim because Australia wants to help free its citizens from the negative impacts of the development of the online gambling business which is addictive and can lose a lot of money and also have an impact on families. This is just my positive opinion.

In terms of my negative opinion, what I know is that Australia is one of the countries that legalizes gambling and what I know is that if a country gives permission or legalizes gambling, it usually gets taxes from the gambling party, but why does Australia feel like it is suffering from online gambling with a loss of 25 billion dollars?
I really don't know how this problem works maybe someone can explain does Australia not get tax from online gambling?

I was wondering whether certain countries would feel like they were losing money because the online gambling sites were illegal because they didn't get taxes from online gambling.

[livingfree]

I've always had the impression that Australia is against gambling because they are always doing something to prevent people from gambling or getting involved in any way. Previously, there was news that said that they were going to ban online gambling advertisements, and now, it is clear that they don't want any online gambling platforms to operate within the country and the reason has been disclosed which was unknown before this news.

However, I don't understand why they say that they lose 25 billion dollars in gambling in a year. Does this mean that the online gambling platforms don't pay them taxes? And even if people aren't losing money to gambling, they will be spending it somewhere else and the tax will still be the same for the government.

I don't get it as well.

If they're pointing out that there's a need to ban the credit card users for its usage through gambling. Why not give a directive that the credit card companies should automatically decline any transaction from it?

Isn't that possible but with a centralized system, that's possible right? I am guessing that there has something to do with other services that's being neglected even so, I still don't get how they're losing a lot of money from that.

[KTChampions]

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.
~

The funny thing (sad thing) is that officials create entire committees that come up with such laws, then these laws are considered, finalized, undergo examinations, etc. A bunch of parasites receive a decent salary (and subsequently a good pension) for the fact that they actually harm other people and businesses that actually work. It is strange that people are surprised that businesses engage in lobbying and bribe politicians - in fact, they are only trying to protect themselves from the actions of idiots.

[Kemarit]

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.

Yep, that's true, they are killing the legal gambling in Australia for sure, and I think it might create a entirety of illegal bookies don't you think?
But on the other hand, the land based casinos might benefited here in the long run if the government tries to kill the online gambling business with this policies.
In any case though, its going to be difficult for the government of Australia to curb our the gambling industry.
People are resistant and will have to find out other ways to continue with their gambling addiction.

[CarnagexD]

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.

Well if there's a will, there's always a way. It sounds like the government's decision to implement stricter regulations and procedures for gambling is aimed at achieving several objectives like to reduce the overall number of gamblers in the country. By regulating and reducing the number of gamblers, the government may aim to strike a balance between revenue generation and responsible gambling practices. Because when a country has no order with regards to this matter, the people will suffer from controlling movement o the government.

[goaldigger]

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.

Yep, that's true, they are killing the legal gambling in Australia for sure, and I think it might create a entirety of illegal bookies don't you think?
But on the other hand, the land based casinos might benefited here in the long run if the government tries to kill the online gambling business with this policies.
In any case though, its going to be difficult for the government of Australia to curb our the gambling industry.
People are resistant and will have to find out other ways to continue with their gambling addiction.

This could be a short term solution but for sure it will help, their purpose is to minimize the losses anyway and not totally eliminate Gambling, maybe this their first step and its hard to tell. As far as I know, banks in my country really don’t allow this kind of transactions and if you are into gambling you will be flagged so maybe the Australian government is just trying to copy the strategy of banks in other countries, this might work to them as well.

[Darker45]

But this is still a bill, right? So it has yet to be voted upon before possibly becoming a law? It's also possible that this won't prosper and fail to become a law. The article seems to talk about something that is about to be implemented.

Anyway, I am strongly in favor of this. We have always been saying over and over again not to borrow to invest. If that is a wise advice, then it is indeed a wiser advice not to gamble with borrowed money. A gambler will have to find ways to play with money that he/she owns. Playing, and most probably losing, money that is borrowed will only drown a gambler in debt.

It is a bill and it is possible that it might not become a law or become a law. The bill is only focused on online gambling and digital currency. It does not say anything about offline gambling. If you want to pass a law then pass it fairly, which is not happening in this case. I too agree with your point that gambling with loaned money is not advisable. Which is morally right but a gambler would feed his addiction by any method. This is a good law to stop such gambling but it has to be done in the right way.

There is no need for this particular bill to include land-based gambling because "[c]redit cards are already prohibited from “land-based” wagering." That's stated in the article. In other words, if we are to take into consideration this existing law, there is high probability that this current bill which seeks to ban the use of credit cards in online gambling will also be passed and signed into law.

How is the process not fair or proper, by the way?

[komisariatku]

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.

Making a gambling deposit using a credit card is a bad choice, because it will deposit money to gamble from debt. When they pay their credit card bill, there's a big chance they won't be able to pay it.

I personally agree with such a ban, if it is allowed to continue, more and more people will be in credit card debt. If people really need money, they may act illogically and commit criminal acts for money.

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 think there are many ways to play online gambling, I'm sure even if Australia bans gambling, most likely people will still gamble. However, if they don't use a credit card to make deposits on gambling sites, that's better

[alegotardo]

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.

Excellent news!

I know that this measure will certainly reduce the revenue of gambling sites and casinos, but it is "a necessary evil".
People need to learn, even if it's the hard way, that gambling should never be considered an investment, they are an expense for entertainment purposes and can only be "enjoyed" from the income that their customers have, in so that they are used with caution and prudence.
It is very easy to fall into addiction and become seriously indebted to gambling when you use money uncontrollably that you do not yet have.

Anyway... controversial news, but in my opinion it is very accurate and fair.

[uneng]

I have to say that at first thought I was thinking this is a pretty good idea as many people simply can't handle the freedom of being able to gamble on loaned credit, as they will end up getting in over their heads and building up a good deal of debt.  However, I am not a fan of government "overreach" so at the same token I understand what it's aimed at doing, however if people want to screw themselves with debt, than why not let them?

The reason why not let them is in your own post: because some people just can't handle the freedom it's given to them. So the government has to responsively interfere on this matter to prevent these people from increasing debt and going bankrupt, due to not being able to pay it back later.

When you see someone doing something that will harm themselves, don't you try to interfere and help? Like, if you know someone is suicidal and he is going to execute it, wouldn't you try helping somehow? As I see, that is what the australian government is doing here.

And I don't see any other hidden malicious reasons behind, especially because gambling isn't being forbidden after all.

[retreat]

I think the regulations on credit cards are quite good because if you remember that gambling using a credit card is the same as gambling using debt where the user is not sure whether they will be able to pay it back or not. The convenience provided by credit cards will trap users, because they will think that the money they use for gambling is very easy and they can pay it back if they win, but that is not the case and users can even be trapped in mounting credit card debt.
However, regulations on digital currencies don't make sense because they are different compared to credit cards, you need to convert fiat to crypto to gamble and that makes it much easier for users who want to gamble.

[TopTort777]

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.

Nope, I am not confusing credit and debit cards. It is stupid because they are banning card in general. They are limiting the way users make deposits. Less deposits, less money comes to country budget as taxes. Lower budget will cause taxes increase in other areas.

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.

Anyway, banning credit cards is not the solution to gambling addiction. They think people would gamble less? What stops people them from withdrawing money from ATMs and making deposits in fiat? It was said that Australians lost 25 billions on legal forms of gambling. Refer to previous - it is a stupid move because it will trigger growth of  illegal forms of gambling.

[maydna]

I think the regulations on credit cards are quite good because if you remember that gambling using a credit card is the same as gambling using debt where the user is not sure whether they will be able to pay it back or not. The convenience provided by credit cards will trap users, because they will think that the money they use for gambling is very easy and they can pay it back if they win, but that is not the case and users can even be trapped in mounting credit card debt.
However, regulations on digital currencies don't make sense because they are different compared to credit cards, you need to convert fiat to crypto to gamble and that makes it much easier for users who want to gamble.

Yes, it is true that he gambled with debt, and if he lost, he had to pay the debt to the credit card company along with the interest. Indeed, they can use the money first for various things they want by borrowing the money from the company, and then at the end of the month, the company collects the debt. Using credit cards for gambling or anything else is not wise because they will have to pay their debts if they cannot control how they use their money. And even though there is a limit to the maximum amount they can use, they still have to pay the debt. It's better to gamble using crypto or deposit money directly from their account so they don't have to think about paying their debt at the end of the month to their company.

[Helena Yu]

Yes, it is true that he gambled with debt, and if he lost, he had to pay the debt to the credit card company along with the interest. Indeed, they can use the money first for various things they want by borrowing the money from the company, and then at the end of the month, the company collects the debt. Using credit cards for gambling or anything else is not wise because they will have to pay their debts if they cannot control how they use their money. And even though there is a limit to the maximum amount they can use, they still have to pay the debt. It's better to gamble using crypto or deposit money directly from their account so they don't have to think about paying their debt at the end of the month to their company.

Yep, using credit card will make the gamblers can't control themselves because they might lost count and bear to high in the end of month. Using crypto or real money will make them aware how much the money they have and the maximum the money they can to gamble.

Although there's a chance someone might ask a loan to gamble, at least preventing by not let them to gamble directly using credit card could decrease this problem.