June 11th 2024.
Starting today, online gamblers will no longer be able to use credit cards for their wagers. This comes as new regulations have been put into effect, in an effort to align online gambling with in-person gambling and to prevent punters from relying on credit to fuel their bets.
The government had passed these laws six months ago, and now companies who fail to comply with the ban could face hefty fines of up to $234,750. This ban also extends to credit-related products and digital currencies. The Australian Communications and Media Authority's powers have also been expanded to enforce these regulations and impose penalties.
This ban on credit cards is just one of the measures that the government has taken to address problem gambling. They have also launched BetStop, a self-exclusion register, and have made it mandatory for all online gambling accounts to undergo ID pre-verification. According to the government, 22,000 people have already registered with BetStop.
Communications Minister Michelle Rowland emphasized the importance of responsible gambling, stating that Australians should not be risking money they do not have. She also reassured the public that the government is committed to ensuring that gambling is regulated and that consumers are protected.
Social Services Minister Amanda Rishworth echoed this sentiment, saying that the ban on credit cards will help vulnerable Australians. She also pointed out that this ban brings online gambling in line with land-based gambling, where using credit cards for bets is already prohibited.
For those struggling with gambling addiction, there are various resources available for help and support. These include the National Gambling Helpline, online counseling, and information about help services in each state or territory. Family and friends of those with gambling problems can also find support and learn how to approach the issue. Gamblers Anonymous is also available for those seeking assistance.
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