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Written by: , Head of Content May 2, 2023 at 8:37AM
Last Updated: October 13, 2023 at 4:31PM ()
Read Time: 1 min.

Australia Prepares to Ban Credit Cards for Online Gambling. New Legislation Is Due This Year

By the end of this year, the Australian government will introduce new legislation that prohibits the use of credit cards for online gambling. There will be a consultation period with stakeholders before the introduction, and one of the issues to address is that punters can simply use credit cards to fund other payment methods and then deposit to gamble.

Credit cards are currently prohibited at the land-based gambling venues, and there seems to be public support for tightening of the online sector rules. Supporters of the move argue that people shouldn’t gamble money they don’t have.

According to one report, credit card payments in Australia make up around 20% of gambling deposits. And 40-50% of those who use this payment method regularly, experience severe harm. One of the major factors contributing to the severe harm is that it’s so quick and easy to lose money when wagering online.