I don't see a problem with banning credit cards.
There is a reason why nobody in the cryptosphere is willing to accept credit card/Paypal payments.
It's way too clunky, there are huge transaction costs, and there are significant drawbacks such as the risk of getting carding fraud. If it's not worth it for the casino, why force them?
Topic: Credit cards and gambling (tabcorp, Australia) - page 2. (Read 412 times)
Banks doesn't have the right to make decisions for the gamblers, whether where they want to spend their money, if you know what I mean, because I don't think of any reason why they should do that unless the gambling site or casino is illegal, then their action is valid. Government and banks are not responsible for their clients decision, or choices to be make, it's their clients rights to do whatever they want with their money, in my opinion.
Credit card is not the money from the customer's pocket its actually a loan provided by the banks so they do have all the rights to decide where the user can spend it and ofcourse they can even restrict activities which are legal in their country but involves high risk.For this reason, it will probably minimize the possibility of fraudulent activities due to gambling addictions which are gamblers can possibly commit a crime in the future due to the reason of gambling addiction. There could be thousands of gamblers that will become miserable their life because if banks allow using debit and credit cards if people want to gamble, just use an amount that they can afford.
At the end of the article, Tabcorp CEO said:
In fact, to inspire problem gamblers to develop an interest for another activities which could be more healthful for them should be the main goal of policies proposed by governments. Solely bans and prohibitions don't work.
Quote
While the use of credit cards in online wagering with Tabcorp is declining, Attenborough did admit that a problem gambler can always find ways of getting around blocks or bans, ...
And he is totally right on his statement. Problem gamblers will find a way to keep gambling with or without credit cards, just like they always come back to the casino even after asking for a block on their accounts. The biggest challenge is to make these people lose their desire for gambling. So far I haven't seen any policies achieving this deed.In fact, to inspire problem gamblers to develop an interest for another activities which could be more healthful for them should be the main goal of policies proposed by governments. Solely bans and prohibitions don't work.
They can't totally ban people from using their credit cards because for sure, they are earning a lot of money here because of the high interest especially if you are late to pay your credit card.
I don't think it's a matter of profit really, a lot of people use banks after all, so I don't think them accomodating to the issue of gamblers and banning them would be that much of an issue. As you said credit cards have high interest rates and with the number of people they serve? That's quite a lot in profit already imo. Honestly, they should just attack the problem at its core, aka the gamblers themselves, and not the methods they use which is honestly a lot more effective ngl, granted that it's quite difficult though. Still, as others have said, just use crypto. A lot more easier tbh and hell, less problems even.
Why even talk about credit cards when you have crypto currencies to gamble with? The banks were never friendly with fiat casinos. They take every opportunity to ban or block users access to their cards as soon as they see a transaction made to a casino. I know they do it to "protect" their customers, but this was a choice made by their customer. Why is the bank interfering? And this is one of the reason why centralized banks are being hated right now. Use crypto currencies and play in crypto casinos. They are much better and more fair than your traditional online casino.
So in this matter, we as a crypto user are fortunate as we do not have to involve with the bank from depositing our money to the gambling sites. The banks will not agree if we use the money to gamble, although maybe their employee also playing gambling secretly 
The government will check the bank central to see the cash flow of the money transaction on every bank and if they see a suspicious transaction or an account send the money to the casino, they will investigate furthermore. People will have their own choice, whether to still use fiat money or moving into crypto which they will benefit if they use crypto.
As I see it, it seems there is not much problem here. The truth is that you are probably wrong in saying that "governmental bodies and the banks thoroughly oppose gambling." That is apparently not the case. The government wants gambling because it gives them a considerable revenue. On the other hand, the banks also want gambling because they finance the development of these companies. However, they also need to control the damage at the same time. So regulations have to be put up to somehow strike a balance. But that's all there is to it.
Why even talk about credit cards when you have crypto currencies to gamble with? The banks were never friendly with fiat casinos. They take every opportunity to ban or block users access to their cards as soon as they see a transaction made to a casino. I know they do it to "protect" their customers, but this was a choice made by their customer. Why is the bank interfering? And this is one of the reason why centralized banks are being hated right now. Use crypto currencies and play in crypto casinos. They are much better and more fair than your traditional online casino.
I honestly don't see credit cards as being much of an issue.
As you mentioned, only 14% of people actually use credit cards to gamble.
The vast majority of these people are going to be legitimate gamblers. Only a small portion of them are going to be frauds - but that applies to virtually every payment processor/method.
The thing is some credit cards are being used by illegal carding especially those people that has the know-how on how to illegally exploit these credit cards. I remember there was a forum intended for such things but what I do seen mostly are just for subscriptions on some site but I know these exploiters work anonymously especially if it's about gambling. They should combat it or worst won't allow credit card gambling in the future but as they say, they'll make some alternatives onto that. As you mentioned, only 14% of people actually use credit cards to gamble.
The vast majority of these people are going to be legitimate gamblers. Only a small portion of them are going to be frauds - but that applies to virtually every payment processor/method.
Seeing them work together is quite hard. The coordination is a must but it still ends up into business, they have to make their business continuity and just allow those people to use their credit cards for gambling.
Banks are totally independent institutions but since it is heavily regulated then it is likely that they would comply on whats been asked.
Yeah, they are independents and they're still able to be controlled by the government and whatever they say, they must comply but if it's about using their money. They have full jurisdiction if they allow their customers use wherever they want their credit cards. 
Banks doesn't have the right to make decisions for the gamblers, whether where they want to spend their money, if you know what I mean, because I don't think of any reason why they should do that unless the gambling site or casino is illegal, then their action is valid. Government and banks are not responsible for their clients decision, or choices to be make, it's their clients rights to do whatever they want with their money, in my opinion.
Credit card is not the money from the customer's pocket its actually a loan provided by the banks so they do have all the rights to decide where the user can spend it and ofcourse they can even restrict activities which are legal in their country but involves high risk.For this reason, it will probably minimize the possibility of fraudulent activities due to gambling addictions which are gamblers can possibly commit a crime in the future due to the reason of gambling addiction. There could be thousands of gamblers that will become miserable their life because if banks allow using debit and credit cards if people want to gamble, just use an amount that they can afford.
Banks are totally independent institutions but since it is heavily regulated then it is likely that they would comply on whats been asked.We can totally tell that there would be a possible problem would rise
if there would be some conflicts in between parties.
Banks doesn't have the right to make decisions for the gamblers, whether where they want to spend their money, if you know what I mean, because I don't think of any reason why they should do that unless the gambling site or casino is illegal, then their action is valid. Government and banks are not responsible for their clients decision, or choices to be make, it's their clients rights to do whatever they want with their money, in my opinion.
Credit card is not the money from the customer's pocket its actually a loan provided by the banks so they do have all the rights to decide where the user can spend it and ofcourse they can even restrict activities which are legal in their country but involves high risk.For this reason, it will probably minimize the possibility of fraudulent activities due to gambling addictions which are gamblers can possibly commit a crime in the future due to the reason of gambling addiction. There could be thousands of gamblers that will become miserable their life because if banks allow using debit and credit cards if people want to gamble, just use an amount that they can afford.
I remember the time I made the last topic about how the credit cards might be banned for the future gamblers. Apparently according to the tabcorp, banks are supposed to be responsible for the credit card bans.
They also provided the stats that only 14% of the users use credit cards and most of them use it responsibly. Therefore the ban would be enforced by the banks and not by any government and the authority.
At the same time, there was a statement that I did like in the whole news:
-Exactly the problem here.
The governmental bodies and the banks thoroughly oppose gambling sometimes but at the same time they are not working together with the companies to make sure it's safe and more practical and therefore it's indeed hard for them to point fingers even though they did not try to work together.
I do think this sends a strong message about how things can be done in a better way, what do you think about it ?
https://www.gamblinginsider.com/news/13007/tabcorp-banks-should-be-responsible-for-online-gambling-credit-card-bans
They also provided the stats that only 14% of the users use credit cards and most of them use it responsibly. Therefore the ban would be enforced by the banks and not by any government and the authority.
At the same time, there was a statement that I did like in the whole news:
Quote
“If we got more information from the banks that a card was suspect, we could shut it down,” he added. “If the banks notified us that this was a problem, we would be able to stop dealing with that problem, but this flow of information doesn't happen.”
-Exactly the problem here.
The governmental bodies and the banks thoroughly oppose gambling sometimes but at the same time they are not working together with the companies to make sure it's safe and more practical and therefore it's indeed hard for them to point fingers even though they did not try to work together.
I do think this sends a strong message about how things can be done in a better way, what do you think about it ?
https://www.gamblinginsider.com/news/13007/tabcorp-banks-should-be-responsible-for-online-gambling-credit-card-bans
Out of all this it really shows how manipulative certain gambling companies can be. You try to defend the actions of the gambling companies, who have a legal (and very simple to enforce) duty to block gambling transactions because the government of one country has decided that they do not want this activity any longer. That government was freely elected by a democratic vote and by extension, the politicians are generally doing what the voters expected them to do. This tabcorp, in the very first sentence of that article, has decided it does not want to lift a single finger in defense of their business interest, presumably because they know they would not beat the government in an independent court - that makes me think they are spineless and have a weak case.
I do think this sends a strong message about how things can be done in a better way, what do you think about it ?
Banks are heavily regulated which does simply means that whenever there are some changes or where government does really like to implement or make out some bans then for sure it would really a bigthing that could really influence out their own views on certain issue.Whether they do like it or not but once government had really made out some or mandating something then most likely
these services or platforms or institutions wouldnt really be having any choice but to come along with it or else they might really be facing up some problems later on or something that
connects with personally.
Not a temporary fix but it will do plus it will also help with people having to put up with credit card debts that they will incur overtime if they continue using credit cards for gambling.
Credit card debts are the reason why it's not good to ever get one not to mention that the interest that it incurs overtime is pretty exploitative, especially with gambling which drains your money much faster.
From where I'm at, banks are very compliant with what the government imposes and what they wanted to achieve. They are surely in sync with most of their decisions, and are always up-to-date with the memos and circulars that they are imposing and getting out in the open to inform about the consumers who are still trying to circumvent existing laws re: credit cards and gambling.
At some point, I believe that this is just the right thing, given that in the first place, credit card funds are not the consumer's money to begin with, so no way that they should be able to risk it into gambling.
At some point, I believe that this is just the right thing, given that in the first place, credit card funds are not the consumer's money to begin with, so no way that they should be able to risk it into gambling.
Not a temporary fix but it will do plus it will also help with people having to put up with credit card debts that they will incur overtime if they continue using credit cards for gambling.
Credit card debts are the reason why it's not good to ever get one not to mention that the interest that it incurs overtime is pretty exploitative, especially with gambling which drains your money much faster. Banks doesn't have the right to make decisions for the gamblers, whether where they want to spend their money, if you know what I mean, because I don't think of any reason why they should do that unless the gambling site or casino is illegal, then their action is valid. Government and banks are not responsible for their clients decision, or choices to be make, it's their clients rights to do whatever they want with their money, in my opinion.
Credit card is not the money from the customer's pocket its actually a loan provided by the banks so they do have all the rights to decide where the user can spend it and ofcourse they can even restrict activities which are legal in their country but involves high risk.
Banks doesn't have the right to make decisions for the gamblers, whether where they want to spend their money, if you know what I mean, because I don't think of any reason why they should do that unless the gambling site or casino is illegal, then their action is valid. Government and banks are not responsible for their clients decision, or choices to be make, it's their clients rights to do whatever they want with their money, in my opinion.
Credit card loans comes under the high risky sector loan so from the bank side they don't want to encourage the usage of credit cards to high risky things like gambling because they know its addictive so high chances for the people to default their loans.
Central banking makes them all related and lending cash to gamble is not especially a risk free form of lending vs lending on a house which is practical and justified. Its not advisable to gamble with borrowed money but the main reason to ban is not the consumer so much but the banks who are taking on too much risk of a defaulted debt.
People and private companies can and should do whatever they want but the banks right now are an extension of central government due to excessive support and easy monetary policy, they dont especially have a leg to stand on as they lean so much on the central bank. Its part of why you are unlikely to get a fair rate of return on savings, banks dont serve their depositors so much any more they are political policy reliant.
People and private companies can and should do whatever they want but the banks right now are an extension of central government due to excessive support and easy monetary policy, they dont especially have a leg to stand on as they lean so much on the central bank. Its part of why you are unlikely to get a fair rate of return on savings, banks dont serve their depositors so much any more they are political policy reliant.
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