Australia will ban Gambling through credit cards - page 5.

Wexnident

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Quote from: noormcs5 on September 13, 2023, 12:13:17 PM

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.

Quote

The Bill, set to be introduced to federal parliament on Wednesday, will illegalise the use of credit cards and digital currencies in online wagering and slap fines up to $234,750 on companies that don’t enforce the ban.

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?

Wait, "lose"? So I guess we can assume that Australians play on foreign casinos, I reckon they can just create their own local (or promote one) online casino to combat this. I don't really think you'd consider it as a "loss", that kind of math just sounds wrong imo.

On the topic of banning, I'm just surprised they didn't outright ban online casinos and instead credit card and crypto usage. Kind of odd really, are there other alternatives outside of these two? Paypal is one that comes on the top of my head but I'm not sure if casinos accept payments through it.

coin-investor

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Quote from: Gozie51 on September 13, 2023, 12:48:09 PM

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.

People have to gamble for different purposes, like relaxation, fun moment to stay out of stress etc and they shouldn't focus on the money they feel are spent on it, moreover it is the individual money and not government money so what is the issue with that?

Australian people love to have fun and they want to be entertained if their government is going to ban online casinos they are likely to go support underground online casinos or frequent physical casinos, there are gamblers who are very used to playing online so they are the one who will likely suffer from the enaction of this bill.

The government just wants to cut the huge losses of gamblers from online casinos but they should focus more on educating gamblers and setting up more rehabilitation, you cannot stop people from changing their ways, many of them will find a way to play online, even if it means using VPN or relocating.

elevates

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Quote from: Darker45 on September 13, 2023, 07:03:06 PM

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.

xSkylarx

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They will use cash? or those direct merchants that is partner of the casino that accept money to deposit on their platform. I don't know much about this bill but my first thought is that they just banned credit cards and digital currencies. How about those partners of the casino that you can cash in using cash? This is only my first impression of the bill but if it is really completely banned then for sure a lot of illegal gambling activities will take place there. Like in our country online cockfighting was banned but there are still people doing this illegally and from time to time someone gets caught because of this.

ryzaadit

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The problem of these credit cards on the west.

They can also withdraw the limit credit-card to raw cash, I think even the (CREDITS) card prohibited any gambling activity through the card. Gamblers still find the way to withdraw the limit into raw cash.

And gambling on casino with raw-cash.

yazher

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Looks like their statistics show negative results from gambling with credit cards and they are now making moves to prevent more damage to happen from their people. I think this is the best move regarding a country that we know has no limits regarding its citizens except for the age limits when it comes to gambling. I never thought of people playing even though they don't have any more cash with them so they used their credit cards. Good moves by the Australian government by the way.

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Quote from: Jawhead999 on September 14, 2023, 02:00:12 AM

It's all about money.

If they gamble in online casino where it's not created by Australia's government and lose, the one who will receive money is the online casino. If the citizen gamble in physical casino, the government will get money because the casino have to pay tax.

If the gambler is win, the government can tax it because they know how much money they make in casino.

It seems I have the same thoughts and opinions as you.

Everything is like using business fields to make money and when there is a group that has a large turnover of money and not a single cent of the profits come in then the government will close all access so that it returns to the way it was before where gamblers would only gamble at fiat or traditional casinos which can give taxes to government people.
This also happens in my country but most of the government people are always looking for personal gain where those with high power have groups that can provide security guarantees but in return for quite large amounts of tax.

It seems cruel with power but that the bad thing about a government system that only cares about profits from providing taxes on any activity in which large-scale money flows.

bayu7adi

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Quote from: Casdinyard on September 13, 2023, 03:48:11 PM

Sportsbet already took the initiative towards this move. If I'm not mistaken they already started barring people from funding their accounts with credit cards. I think this is a monumental approach and move towards a safer and more responsible gambling within Australia that I believe the rest of the world should emulate. When someone who's not accustomed to gambling responsibly is given such uncontrolled power as a credit card, they go overboard. Overdrafting themselves since they believe they can pay off the debt anyway when they get their big win. But the big win will never come, they'll lose more and more until shit hits the fan and they are left with a negative balance tehy can't pay off due to the staggering amount of it.

The issue at hand is that they have also prohibited the use of cryptocurrency for making deposits. I believe this is exceptionally concerning news for certain online casinos if other countries follow in the footsteps of the Australian government. This undoubtedly poses a significant threat to the existence of the online casino industry.

Furthermore, individuals who have grown accustomed to the convenience of gambling on their mobile devices will begin to lose their source of entertainment. Gambling should ideally still be permissible with cryptocurrencies, as they are assets truly under one's control, rather than owed balances.

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Quote from: noormcs5 on September 13, 2023, 12:13:17 PM

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.

Quote

The Bill, set to be introduced to federal parliament on Wednesday, will illegalise the use of credit cards and digital currencies in online wagering and slap fines up to $234,750 on companies that don’t enforce the ban.

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?

More Reading:-
Australia to ban the use of credits cards in online gambling

Exactly my thoughts when I first read your post: How will they deal with online betting, or even more impossible: how will they deal with banning crypto for gambling? It seems to me that they are more concerned about covering the problem up by making it seem like they fixed the situation by declaring it solved. This is too bad. Instead of such a unrefined and aimless approach, they should be finding solutions to the problem at its core.

People want to gamble in Australia, then they should be allowed to gamble. The real problem here is not the gambling itself, nor credit cards or crypto, but rather that Australia is missing out on the profits that they themselves could be making.

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While for credit card ban is easily implemented the same cannot be said about cryptocurrencies ban.This because when using cryptocurrencies together with a VPN (most gambling sites should also have alternate links) they can overcome the limit of credit cards.Of course if the legislation is to ban gambling completely then there is nothing people can do but I think this cannot easily be implemented there as people in that country were from the most avid gamblers that I have seen in some other thread which pointed out 10 top countries with most gamblers and Australia was there in the top 3 if I recall it correctly.

Crypt0Gore

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Quote from: noormcs5 on September 13, 2023, 12:13:17 PM

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.

Quote

The Bill, set to be introduced to federal parliament on Wednesday, will illegalise the use of credit cards and digital currencies in online wagering and slap fines up to $234,750 on companies that don’t enforce the ban.

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?

More Reading:-
Australia to ban the use of credits cards in online gambling

I don't get, the 25 billion belongs to the Australia government or what? It's more like the same thing in every country where gambling is permitted, what is their own business? I don't get it, I was expecting to read something about fund lose through theft or hack.

By the way, even if the government ban Credit card usage on casinos what about crypto? Because I've never even use Fiat or online payment through a bank to gamble on any casino before, it's never going to happen.

I believe this will be less effective if the government is trying to stop it's citizens from gambling because of the losses throughout the year, people will just look for another means, for like crypto.

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I will not take this news serious until the bill is actually passed and implemented, Australia had in previous times come up with news like this and till today, after several years, there has been no further update on the matter whether it was later passed, implemented or canceled.

And yeah, if they are going to ban the use of credit cards and digital currencies in gambling, I personally believe it can only be for offline and possibly some online casinos that are registered in Australia.

And besides, how exactly do they think they can ban people from using their crypto currencies to gamble, when they have no central power over crypto currencies same way they have central power over credit card, ban on use of crypto to gamble not possible for them if you guys ask me .

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That's right to avoid any form of debt but meanwhile this not provide nothing reliable to people addicted that will be able in anyway to find a way to waste more money. I mean, people have more forms of "fiat money" in their pocket...
I don't know if this is a valid solution since it allow the same people to play without limits.
Maybe has been done just to avoid frauds?

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What about offline gambling? If use of credit card is being prohibited for online gambling then it should be applied for offline gambling too. I understand credit card is a form of lending and gambling using loaned money is not advisable. Why then target online gambling it should be applied for any form of gambling.

I suspect the main concern is crypto gambling as there is a considerable rise in online gambler who are shifting from fiat casino to crypto casino. Naturally the government is not able to generate the revenue it was generating earlier. That will be the only reason why they said about the amount of fiat loss to the country.

Jawhead999

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It's all about money.

If they gamble in online casino where it's not created by Australia's government and lose, the one who will receive money is the online casino. If the citizen gamble in physical casino, the government will get money because the casino have to pay tax.

If the gambler is win, the government can tax it because they know how much money they make in casino.

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This does not make sense at all...... "Credit cards" are debt..... and Crypto currencies are not debt. Why are they not banning "PayPal" or other methods that are used to gamble?

Yes, I agree that nobody should be gambling with money that they do not have, but if you bought something like Crypto with you money.. why should you not be allowed to use it? (I personally feel it has more to do with the taxes and also capital control measures that are bypassed, when you use Crypto currencies) Roll Eyes

mindrust

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Quote from: noormcs5 on September 13, 2023, 12:13:17 PM

Australia to ban the use of credits cards in online gambling

That's actually a good move. Gambling on debt is never a good thing. If you have the money, you can gamble and it is nobody's business but borrowing money to gamble is not a good thing for the society and the lawmakers are making sure of that these degenerate gamblers won't become a threat to the society. I know most cc users have enough money to cover their debts but let's face it lots of people don't. Banks loan this money to these people so they can pay their bills or do their groceries. They even state this in their T.O.S. "You can't use this money to buy stocks or make bets etc..." If people keep violating the T.O.S., soon they won't find any banks loaning them any moni.

n00ber

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The reason why Australia has a bill banning the use of credit cards for gambling: Australia is currently one of the largest betting markets in the world. Australians spend more money than citizens of many other countries on online gambling. Like many other countries that have legalized gambling, the Australian Government faces a complex and persistent battle against money laundering in online gambling. Casinos in Australia are among the businesses most commonly used as fronts by money launderers. The fact that the Australian government will ban gambling via credit cards shows that they are cracking down on money laundering.

summonerrk

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Quote from: noormcs5 on September 13, 2023, 12:13:17 PM

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?

The Australian government apparently cares a lot about its citizens. I think that limiting the use of credit cards in gambling is necessary to limit, the point is that this is a strong obstacle in order to replenish your deposit in the gambling service. But a lot of people think that this is the only way, they don't know about cryptocurrencies. And even if they knew that, cryptocurrencies require too much knowledge to properly buy cryptocurrencies and send them to the casino balance. None of the ordinary people will do this. The restriction is apparently made based on bad statistics for players - perhaps it affects family life. In any case, such a resolution is a big step towards making casinos banned in Austria.

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Quote from: noormcs5 on September 13, 2023, 12:13:17 PM

Quote

The Bill, set to be introduced to federal parliament on Wednesday, will illegalise the use of credit cards and digital currencies in online wagering and slap fines up to $234,750 on companies that don’t enforce the ban.

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?

It looks like the bill is really gearing towards preventing credit card payments and just reaching on digital currencies. The minister seems adamant that Australians shouldn't be using money that they don't have in online gambling.

They will probably allow casinos accepting debit card payments or through online banking.

Topic: Australia will ban Gambling through credit cards - page 5. (Read 910 times)