Australia will ban Gambling through credit cards - page 6.

Oasisman

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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?

Use debit maybe? that's the only option left when you are trying to fund your account, or maybe a cash-in third party agency where they accept fiat to fund your account.
I don't think they'll have a plan to eradicate both online and land based casinos. IMO, this steps they made is to minimize the irresponsible gambling habits where a lot of people fail to do so on their own, so the government will need to interfere before things gets worst.
I'm not gonna be surprise in the next coming years, more and more nations will follow suit.

Pierre 2

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I guess this means you literally need cash money on your bank account and deposit it to gambling company. Well that's very traditional way even for online gambling. I would say they literally aim to make less people gamble online. They probably cannot ban it completely (democracies don't like that) but find this way. I feel like its awkward move. I don't think countries need to care that much. Let people gamble as much as they want as its totally legit business.

Darker45

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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.

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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

Maybe they didn't get benefits from that 25 billion and they see it as a lose that's why they decide to ban it before their citizens lose a lot of money from gambling. But if they do some good regulation regarding on online gambling to their country maybe they can find a solution to get a tax from those platform or maybe from people who gamble. For now maybe let see if their implementation will be effective since we all know that crypto is there and might be a solution for other want to continue their gambling activities.

TelolettOm

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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.

The reason why they ban it is interesting. Grin

I think Australian government is smart enough to know what the gambling is. $25bn is surely a big amount, but it is people's money, not the money of the government. As long as the people are okay with the losses, I think Australian government doesn't need to ban it immediately. People spend money on gambling isn't only for gaining money, some people do it for entertainment. Spending money for entertainment, I think it is not a problem. Moreover, we know that gambling isn't a place for expecting income. If Australian government expects for profits through gambling, it means they don't understand what gambling is.

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?

If they ban credit card for gambling, it will impact on online gambling, too. However, we don't if online gambling will restrict Australian people or not.

danherbias07

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Perhaps they will introduce another way to gamble and so the government could track how much money is gone and also to put a tax on it. This type of news from the government always has a step two, it wont end by just banning the options to deposit, there must be a plan ahead and that when we will be surprised.
I don't think they want to ban gambling entirely but more like centralize it especially if they are not witnessing any profit from that huge amount of money that was spent by their people.
Also the gambling industry is one of the biggest industry in the world today so stopping their people from doing it will just lead to untrackable flow of money while they find ways to keep their habits.

goinmerry

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If I'm not mistaken, credit cards are really not accepted as a payment method in most gambling sites, in several countries globally. Most banks sometimes don't want to deal with gambling site transactions because of several chargeback issues and the problem with a chargeback is a significant loss to a bank if not successfully solved.

I'm not sure about other card network processors, but the top 2, Visa and Mastercard aren't accepting any transactions involving gambling.

Even in physical casinos, credit cards are not accepted. I mean, money is a showoff in a physical casino, not thru credit.

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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.

Well, when you think about it, it is not so bad after all. Credit card is simply credit. You do not have the money. Credit card has encouraged a lot of financial recklessness not just in gambling but in compulsive and impulsive buying and expenses. In regards to gambling it is a good development. It would curb betting on a game with money you do not have. In essence what the Australian government is trying to do is to save the gambler from himself. I am also reading that one time, they had a regulation preventing credit card withdrawals from ATMs in Australian casinos.

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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?

Australia was the biggest country which play huge role in the gambling plays,this should be reconsider by their law makers.Because the country may get the good revenue from the gambling site itself.The biggest casino Stake also based on the Australia,So disable of the gambling using the credit card will be the negative one.As we know Australia is not against the gambling and this ban of using credit card should not affect the gambling industry.The revenue should be reconsider by the Australian government for the new law making on gambling.

dothebeats

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It's a step to curb the irresponsible usage of credit cards and banks losing a lot of money in the country. It's a start, though something that isn't really welcome to a lot of gamblers. Then again, if they see a trend and it's just continuously growing, better cut the source of funds that people are pulling from rather than implement the bans on other departments.

Right now, it's best to use a debit card if they want to enjoy the comforts and benefits of online gambling.

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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

As already written, the obvious option is to use a debit card.
But all this looks as stupid as possible: yet another “smart” government treats citizens like unreasonable children incapable of managing their finances.
In reality, this will only lead to the fact that those who want to play at any cost will cash out money from a credit card and then put it on their debit card. The only winners will be banks that charge extortionate interest rates when withdrawing money from a credit card.

Fatunad

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Quote from: mirakal on September 13, 2023, 04:10:29 PM

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.

Just as they say, people should not be betting with money that they don’t really have, so banning will eventually protect their people not to fall on heavy debts because of addiction from online gambling. For me, the legislation towards this ban is really reasonable as this is the only way so that the Australian government can protect its people not to harm themselves in online gambling, as well as the families of the online gambling gamblers.

A good gesture i should say on which banning credit cards so that its users wont really be potentially be messing up their financials because of being too impulsive on making use of those money which isnt theirs.
This is why im not surprised that credit card applications becomes more strict here in our country too on which it might not really be that the reason about gambling but also into those people who hadnt been able to settle their accounts or simply that tons of people hadn't been able to pay up their obligations.Its not really actually shocking if this case do happen. It is really just that wise on cutting off the source of problem on which if they do see that billions had been lost because of it then it would be just that common sense that they would really be banning or prohibiting it on at least it would really be easing out that kind of problem or totally cuts it.
It is really nice to see that some governments in the world do really tend to protect out their citizens on such harm because most of the time where government doesnt really boggle up themselves
and would really be giving out priority on things which they could really be able to benefit out.

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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.

Just as they say, people should not be betting with money that they don’t really have, so banning will eventually protect their people not to fall on heavy debts because of addiction from online gambling. For me, the legislation towards this ban is really reasonable as this is the only way so that the Australian government can protect its people not to harm themselves in online gambling, as well as the families of the online gambling gamblers.

TimeTeller

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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.

Maybe, I can agree with the banning of credit cards in online gambling because of huge losses.
And it is also to safeguard these gamblers, to incur more debts from these credit card companies.
However, from the actual news that the OP posted, they will even ban the use of digital currencies, which for me, should not be the case.
Because if you have your crypto, it means, it is not a debt from those companies, but your money already.
This is not good for crypto users in their country. But in any case, they can spend their crypto in other things, not only in gambling.

Casdinyard

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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.

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Quote from: aylabadia05 on September 13, 2023, 01:04:52 PM

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.

An advantage for gambling addicts because it can save their finances stored on credit cards. Based on this news link, the law regarding this prohibition is included in the strengthening plan. I think Communications Minister Michelle Rowland's reasons make sense because from a positive point of view, it is one of the ways that has often been questioned about how to stop addiction.

Quote from: https://www.news.com.au/technology/australia-to-ban-the-use-of-credits-cards-in-online-gambling/news-story/ba09ea510f54f1a29ba4175d6a3ba134

“It’s as simple as this: People should not be betting with money they do not have,” she said.

“The Australian government remains committed to protecting Australians from gambling harms.”

Credit cards are already prohibited from “land-based” wagering.

Maybe there is too much addiction out there so with this new law to overcome the brutal prevention, it is said in the article that land based casino credit card users in the sense for online casinos will not have any problems?

Or will anyone who uses a credit card for gambling at a land-based casino or online casino be fined if caught?

Digital currencies may lead to credit cards but not crypto.

aylabadia05

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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.

An advantage for gambling addicts because it can save their finances stored on credit cards. Based on this news link, the law regarding this prohibition is included in the strengthening plan. I think Communications Minister Michelle Rowland's reasons make sense because from a positive point of view, it is one of the ways that has often been questioned about how to stop addiction.

Quote from: https://www.news.com.au/technology/australia-to-ban-the-use-of-credits-cards-in-online-gambling/news-story/ba09ea510f54f1a29ba4175d6a3ba134

“It’s as simple as this: People should not be betting with money they do not have,” she said.

“The Australian government remains committed to protecting Australians from gambling harms.”

Credit cards are already prohibited from “land-based” wagering.

aoluain

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I can understand what they are doing, they state the reason here and its simple enough,
its to restrict people going into debt just to gamble.

Quote

“It’s as simple as this: People should not be betting with money they do not have,”

They do also include digital currencies because thats an indirect way to using a credit card,
they have to do it that way otherwise it wont work.

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.

So what are the other ways gambling addicts can use money to gamble online?
bank transfer
Debit card
?

passwordnow

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How are they losing money from that if it's being placed with interest for the people to pay later on and based on the other article I've read it was on a legal form?
Aside from that, this is still a bill so it has to be passed on many readings and proceedings before it finally becomes a law. And if it becomes a law those who are noncompliant, with this is the fine that they'll have to pay.
Australia to ban credit card use in online gambling, non-compliers to face fines up to $150K

Gozie51

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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?

Topic: Australia will ban Gambling through credit cards - page 6. (Read 910 times)