The Australian government has banned the use of credit cards and cryptocurrencies for online betting, effective June 11. This move aims to curb gambling problems in the nation.
The ban covers credit cards linked to digital wallets, Bitcoin, and other novel forms of credit, aligning online betting regulations with those of physical casinos. However, online lotteries remain exempt. Kai Cantwell, CEO of Responsible Wagering Australia, is advocating for the ban to cover all gambling forms.
Last year, the Interactive Gambling Act 2001 was amended to support this initiative. Additionally, the government is considering a proposal to phase out gambling advertisements over three years. Communications Minister Michelle Rowland emphasized that people should not gamble with money they do not have.
In 2019, 30.7% of Australian gamblers used cryptocurrencies for online gaming, highlighting the significance of this ban. The long-term goal is to enhance customer protection and control over gambling behavior.
