Australia will ban Gambling through credit cards

[borovichok]

Have fun banning crypto from being used for online gambling... If they do that, the only outcome will be that there are casinos specifically focusing on providing players with crypto an anonymous environment to still use it. They would have to ban the entire infrastructure until the very cash out that could happen p2p without any official intermediary. I think a ban is something that just can't be enforced. Having rules in place is one thing, enforcing them is what really counts.

Gambling can either be beneficial for a gambler if he triggers the appropriate technique. Gambling is extensive, with numerous domains yet to be identified; understanding everything will take time. A ban on gambling will be difficult for the government to enforce because of the presence and creativity of fresh concepts that would encourage gamblers to start looking out different opportunities when making wagers on games. P2P is seen as one of the choices for gamblers to buy crypto that will be utilized to fund gambling activities, but there are other structures that I have never been acquainted about.

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[dezoel]

Australia is a rich a country, so it's no surprise that their country can lose that huge but it doesn't mean that people there are heavily addicted on gambling. The amounts that they gamble may look big to us but actually it was the only amount they can afford to lose.

Prevention is still better than cure like they say, so I like the initiative of banning credit cards in casinos. Not just in Australia but I like this new law to be implemented on many countries. Don't worry @OP because credit cards aren't the only way for the people to play gambling. They still have fiats, online payment methods ( including cryptocurrencies ) and they can control these better.

[Westinhome]

Exactly my thoughts @ChuckBuck. There are several means of payment that are provided by online gambling platforms for their customers to use whenever they're using their sites and no matter the kind of restriction that government of Australia implements, it's not gonna stop their citizens from betting.
If the government feels that the citizens of the country are probably gambling in uncontrollable ways and sees it as a threat to national development, I think the best thing to do is to sensitive citizens of the country about the effects of gambling without control instead of banning their credit cards from being used because it's still not gonna have much effect on people that are gambling when there are some many online virtual cards.

Most the people are not following the laws made by the government.Since now we are using the crypto based gambling site,So we can buy the cryptocurrency using the credit cards and move the crypto to the gambling wallet.So I think this ban of credit cards to the gambling won’t have the effect at all.The gamblers easy use of the crypto based gambling sites,this move was made by the government to stop their people on the betting.But it won’t work untill they ban the entire gambling ban,which is not possible in the big country like Australia.Australia government can’t control the gambling using this credit cards ban.

[shogun47]

Have fun banning crypto from being used for online gambling... If they do that, the only outcome will be that there are casinos specifically focusing on providing players with crypto an anonymous environment to still use it. They would have to ban the entire infrastructure until the very cash out that could happen p2p without any official intermediary. I think a ban is something that just can't be enforced. Having rules in place is one thing, enforcing them is what really counts.

Gambling can either be beneficial for a gambler if he triggers the appropriate technique. Gambling is extensive, with numerous domains yet to be identified; understanding everything will take time. A ban on gambling will be difficult for the government to enforce because of the presence and creativity of fresh concepts that would encourage gamblers to start looking out different opportunities when making wagers on games. P2P is seen as one of the choices for gamblers to buy crypto that will be utilized to fund gambling activities, but there are other structures that I have never been acquainted about.

It is not only that people can buy crypto p2p and then use that crypto to gamble on a centralized betting platform, but it is also about people getting or holding crypto and using a decentralized platform to gamble. I haven't really looked into prediction market platforms, but if I am not mistaken I think that gambling in a decentralized setup is already possible if someone really wanted to.

But if it is not possible yet in a way that requires reasonable effort, then a ban on gambling would foster exactly what the government doesn't want to. Developers will discover the potential for that market and that market lacks infrastructure, hence they build it out in no time, launch it and can even stay anonymous. It has been that way forever. Bans have their downsides. It isn't like banning a risk or danger and then it is gone. If there is a market for something and that market is big enough for someone who feels incentivized to seize the opportunity, they will go for it.

Try to ban alcohol and every second household will build a distillery in their basements. 

[eaLiTy]

~
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 article you posted never mentions cryptocurrencies, instead they are referring to digital currencies, majority of the credit card companies will not allow to use your credit card in gambling sites and it is implemented sometime back. Since there are ways to overcome these restrictions, curious to see how they will enforce the ban with many apps and companies that are not under their jurisdiction, how they will enforce the rule on a global scale.

[CarnagexD]

~
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 article you posted never mentions cryptocurrencies, instead they are referring to digital currencies, majority of the credit card companies will not allow to use your credit card in gambling sites and it is implemented sometime back. Since there are ways to overcome these restrictions, curious to see how they will enforce the ban with many apps and companies that are not under their jurisdiction, how they will enforce the rule on a global scale.

I think one key reason for this is that technology evolves, so do the methods for bypassing restrictions. Some individuals may still find ways to use credit cards for gambling by using proxy servers or other tools to circumvent location-based controls.

Another is the capacity of a person to afford the credit. Gambling is the fastest way to make and lose money. So instead of the government to always remind people of their expense, it's wise for them to just siply ban the usage of credit to the mass in terms of gambling industry.

[TopTort777]

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.

Try to look at it from this point of view - the bill won't stop them but at least it would force people to gamble money at hand instead gambling on credit. That means it could prevent these gamblers from drowning into more debts because they could not pay their credit cards. Good thing you mentioned withdrawing money from ATMs because that's essentially the purpose of the bill the way I see it.

So you say they gonna not let credit card users withdraw money from ATMs? How an earth they gonna do that towards gamblers only and allow other use their credit card fully. With adding a question "Are you gonna gamble with that cash?"  before they select amount to withdraw ? And if the answer is yes, the ATM gonna spit out credit card.

The whole idea of credit cards is to go in debts and later close it. Isnt the purpose of the bill comes across bank policy? As they a killing bank product with it. I really dont understand how this gonna help. Ok, lets suppose gamblers wont have credit cards anymore. Does it mean they will gamble less? Does it mean they cant borrow money from others?

[slapper]

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.

Try to look at it from this point of view - the bill won't stop them but at least it would force people to gamble money at hand instead gambling on credit. That means it could prevent these gamblers from drowning into more debts because they could not pay their credit cards. Good thing you mentioned withdrawing money from ATMs because that's essentially the purpose of the bill the way I see it.

So you say they gonna not let credit card users withdraw money from ATMs? How an earth they gonna do that towards gamblers only and allow other use their credit card fully. With adding a question "Are you gonna gamble with that cash?"  before they select amount to withdraw ? And if the answer is yes, the ATM gonna spit out credit card.

The whole idea of credit cards is to go in debts and later close it. Isnt the purpose of the bill comes across bank policy? As they a killing bank product with it. I really dont understand how this gonna help. Ok, lets suppose gamblers wont have credit cards anymore. Does it mean they will gamble less? Does it mean they cant borrow money from others?

So ATMs should suddenly be moral police? Better thoughts have been heard. How could ATMs tell if someone was pulling out cash to play or for an innocent shopping spree? Your sarcastic idea of ATMs questioning where people are going is pretty close to how crazy this thought is

On to credit cards. They create comfortable debt. Banks are strangely kind to let you have fun and pay afterwards. They suddenly worry about gambling? How useful! Given credit cards, would gamblers suddenly be more careful with their money? Other methods would be found

[maydna]

~
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 article you posted never mentions cryptocurrencies, instead they are referring to digital currencies, majority of the credit card companies will not allow to use your credit card in gambling sites and it is implemented sometime back. Since there are ways to overcome these restrictions, curious to see how they will enforce the ban with many apps and companies that are not under their jurisdiction, how they will enforce the rule on a global scale.

I think one key reason for this is that technology evolves, so do the methods for bypassing restrictions. Some individuals may still find ways to use credit cards for gambling by using proxy servers or other tools to circumvent location-based controls.

Another is the capacity of a person to afford the credit. Gambling is the fastest way to make and lose money. So instead of the government to always remind people of their expense, it's wise for them to just siply ban the usage of credit to the mass in terms of gambling industry.

But it's not easy, especially for people who often gamble using credit cards, and even though there is a ban from the government, they will still be able to find ways so they can continue gambling using their credit cards. And even though in the future the government will completely ban all gamblers from using credit cards and will request reports from credit card companies, these gamblers may soon switch to other means of payment such as crypto. They can also easily buy crypto and send it directly to their gambling account so they can continue gambling.

So it doesn't matter if the government prohibits using credit cards for gambling. Gamblers can use many other ways to keep gambling, and it is only a matter of time before they discover them.

[TopTort777]

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.

Try to look at it from this point of view - the bill won't stop them but at least it would force people to gamble money at hand instead gambling on credit. That means it could prevent these gamblers from drowning into more debts because they could not pay their credit cards. Good thing you mentioned withdrawing money from ATMs because that's essentially the purpose of the bill the way I see it.

So you say they gonna not let credit card users withdraw money from ATMs? How an earth they gonna do that towards gamblers only and allow other use their credit card fully. With adding a question "Are you gonna gamble with that cash?"  before they select amount to withdraw ? And if the answer is yes, the ATM gonna spit out credit card.

The whole idea of credit cards is to go in debts and later close it. Isnt the purpose of the bill comes across bank policy? As they a killing bank product with it. I really dont understand how this gonna help. Ok, lets suppose gamblers wont have credit cards anymore. Does it mean they will gamble less? Does it mean they cant borrow money from others?

So ATMs should suddenly be moral police? Better thoughts have been heard. How could ATMs tell if someone was pulling out cash to play or for an innocent shopping spree? Your sarcastic idea of ATMs questioning where people are going is pretty close to how crazy this thought is

On to credit cards. They create comfortable debt. Banks are strangely kind to let you have fun and pay afterwards. They suddenly worry about gambling? How useful! Given credit cards, would gamblers suddenly be more careful with their money? Other methods would be found

Finally someone understands me I cant imagine how to limit users from using credit cards for crypto and make that limitation soft. Its is either banks will completely stop issuing credit cards (and that is a partial death for banking sector), either they will find lots of IT guys and ban every single gambling page, IP and VPN on Australian territory. But that is very inhumanely. Or they gonna put a clause in contract that comes with credit cards, that it is prohibited to use cards in gambling; and make fines. This is also unreal to perform.

The whole idea of bans and credit cards is stupid. Now they ban credit cards usage in gambling, because people spend funds they dont have. Later they gonna ban credit cards because people in general spend funds they dont have? That is some kind of primitive thinking.

[jostorres]

~
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 article you posted never mentions cryptocurrencies, instead they are referring to digital currencies, majority of the credit card companies will not allow to use your credit card in gambling sites and it is implemented sometime back. Since there are ways to overcome these restrictions, curious to see how they will enforce the ban with many apps and companies that are not under their jurisdiction, how they will enforce the rule on a global scale.

They are not going to enforce the rule on a global scale, they can't do that because they can only decide for their own country and not for others. And it's obviously not only about cryptocurrencies because credit card companies or banks don't support cryptocurrencies, so you can't use cryptocurrencies using credit cards. However, I believe cryptocurrencies also fall under the category of digital currencies because they are used digitally over the internet.

However, if by digital currencies they mean the transactions that are made through online banking apps then cryptocurrencies won't be counted in them and I'm not sure if they can also ban the usage of cryptocurrencies and the casino platforms that are basically operating with only cryptocurrencies.

[KTChampions]

Most the people are not following the laws made by the government.Since now we are using the crypto based gambling site,So we can buy the cryptocurrency using the credit cards and move the crypto to the gambling wallet.So I think this ban of credit cards to the gambling won’t have the effect at all.The gamblers easy use of the crypto based gambling sites,this move was made by the government to stop their people on the betting.But it won’t work untill they ban the entire gambling ban,which is not possible in the big country like Australia.Australia government can’t control the gambling using this credit cards ban.

As I wrote above, there is a simpler scheme even for those who are far from cryptocurrencies - you can withdraw money from a credit card and put it on a debit card and use it to play in the casino as before. I don't have credit cards and I'm not from Australia, so I'm hoping someone with suitable experience can confirm that such a scheme works. In fact, the only winners are the banks that receive additional commissions for unnecessary transactions that gamblers will be forced to perform.

[noormcs5]

The whole idea of bans and credit cards is stupid. Now they ban credit cards usage in gambling, because people spend funds they dont have. Later they gonna ban credit cards because people in general spend funds they dont have? That is some kind of primitive thinking.

There are two ways to look at it, first like you said their motive is to ban credit cards or discourage the use of credit cards and they start off by banning them on the gambling sites. Since the motive is not to discourage gambling, gambling sites may feel that they are at a disadvantage and that the banning of credit cards is only on the gambling sector and the rest of the marketplace has no effect on it.

The second point of view and a more relevant one, is that the government's motive here is to stop gambling and for this they start by banning the credit card in gambling, thereby putting one hurdle. They can ban the crypto, so their only option is to ban the usage of credit cards. Who knows, they will ban debit cards too later once they see some good progress.

[Outhue]

How many people are gambling using credit cards? They should try banning gambling through crypto as well if truly they want to stop their people from gambling, many gamblers around the world don't like using credit card for gambling , it's not private.

I remember in 2020 the UK gambling commission also announced a ban on credit cards for gambling payments, they claimed that some gamblers with higher level of debts are using credit cards to facilitate their gambling behaviours, I believe gamblers are gambling with borrowed money which is at a high alarming rate. 

I think the same thing is happening in Australia right now, so yes I don't see anything wrong about this ban on Credit cards, they have given such gamblers a name, the problem gamblers, they believe that gambling with credit cards will lead to financial problem, too many people are in debt via loan platforms and credit card.

[TopTort777]

The whole idea of bans and credit cards is stupid. Now they ban credit cards usage in gambling, because people spend funds they dont have. Later they gonna ban credit cards because people in general spend funds they dont have? That is some kind of primitive thinking.

There are two ways to look at it, first like you said their motive is to ban credit cards or discourage the use of credit cards and they start off by banning them on the gambling sites. Since the motive is not to discourage gambling, gambling sites may feel that they are at a disadvantage and that the banning of credit cards is only on the gambling sector and the rest of the marketplace has no effect on it.

The second point of view and a more relevant one, is that the government's motive here is to stop gambling and for this they start by banning the credit card in gambling, thereby putting one hurdle. They can ban the crypto, so their only option is to ban the usage of credit cards. Who knows, they will ban debit cards too later once they see some good progress.

There is a third point of view - interference in gambling business. Lets say you are a casino owner, but because of credit card usage ban, you gonna receive less profit. The chain of consequences will lead to layoffs and bankruptcy. Proposal to ban credit cards is one sided. With its approval, what in exchange government would offer casino owners?

Why I still find this proposal stupid? Because people who gamble will still find a way to get money and credits. People are creative. They will find a way to get into debts and troubles anyway.

[FanEagle]

This makes perfect sense to be fair, why would it be alright to get a "loan" to gamble? That is what a credit card means, it's credit that is put into your account, so you owe the bank some money for having that and it's quite important to remember that we are going to end up with something that will take a lot more time. I get that it may not look that wild but it is still quite large and should be considered a risk.

If you gamble and lose all that, you have spent money that you do not have for something that you do not have at all. Gambling will be way done by the time you have to pay that credit back. This is why it's not a smart idea and should be ignored as much as possible, that would make it a lot better eventually.

[noormcs5]

This makes perfect sense to be fair, why would it be alright to get a "loan" to gamble? That is what a credit card means, it's credit that is put into your account, so you owe the bank some money for having that and it's quite important to remember that we are going to end up with something that will take a lot more time. I get that it may not look that wild but it is still quite large and should be considered a risk.

If you gamble and lose all that, you have spent money that you do not have for something that you do not have at all. Gambling will be way done by the time you have to pay that credit back. This is why it's not a smart idea and should be ignored as much as possible, that would make it a lot better eventually.

If the government will restrict the credit card to be used in gambling, the gamblers can still take loans from else where and gamble. You cannot stop people from gambling just by restricting one mode of credit payment.

Anyways gamblers themselves need to realize that gambling by taking money in credit is the thing that needs to be avoided at any cost. If you lose the games, you will still have to repay the loan and in rare cases, even if you win, the burden of paying back the loan stays at back of your mind and you will not be satisfied when you know you have to return the money.

[Heartilly]

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?

Is credit card or crypto the only means of doing online gambling there? There are lots of payment methods available these days.

Obviously through direct top-up. There is no saying that online gambling will be banned, only the mentioned payment methods such as credit cards and crypto. Besides, it's good that credit cards should be banned from being used on online gambling as it will just give more encouragement for people to gamble since it's credit.

If gamblers don't have money to use on gambling, better stay out of it and don't rely on credit thing.

[ethereumhunter]

If the government will restrict the credit card to be used in gambling, the gamblers can still take loans from else where and gamble. You cannot stop people from gambling just by restricting one mode of credit payment.

Anyways gamblers themselves need to realize that gambling by taking money in credit is the thing that needs to be avoided at any cost. If you lose the games, you will still have to repay the loan and in rare cases, even if you win, the burden of paying back the loan stays at back of your mind and you will not be satisfied when you know you have to return the money.

Well, maybe that is a way that the government can do to limit the problems that occur in gambling so they feel the need to do it. The government knows it will not stop people from gambling because people can still use other methods. Moreover, nowadays, gamblers can use many options to deposit their money to gamble.

Apart from that, gamblers can take out loans to gamble so that they can continue gambling and if they lose, they have to pay back the loan. And that is another problem that can arise in someone if they don't have self-control.

[fullhdpixel]

How many people are gambling using credit cards? They should try banning gambling through crypto as well if truly they want to stop their people from gambling, many gamblers around the world don't like using credit card for gambling , it's not private.

I remember in 2020 the UK gambling commission also announced a ban on credit cards for gambling payments, they claimed that some gamblers with higher level of debts are using credit cards to facilitate their gambling behaviours, I believe gamblers are gambling with borrowed money which is at a high alarming rate. 

I think the same thing is happening in Australia right now, so yes I don't see anything wrong about this ban on Credit cards, they have given such gamblers a name, the problem gamblers, they believe that gambling with credit cards will lead to financial problem, too many people are in debt via loan platforms and credit card.

Credit cards existed first before any other online payment methods such as crypto so I think many people are playing using it. We can't also disregard the growth of the others OFC, so yeah, they may need to look at it as well, if they totally want to stop the people who are getting addicted through gambling. The name credit card says it all.

Yes, people who use it are basically borrowing money to place a bet. For those who have a problem with gambling, this can lead for them to have a financial problems if this won't be stopped. Not only in gambling but there are also people who miss-used their credit cards and abuse loaning platforms. There should also be a way to fix these.