New Solution to Address the Problem of Gambling in Australia. - page 2.

PX-Z

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Quote from: Davidvictorson on November 18, 2022, 09:48:24 AM

The problem:Gambling with credit cards is high-risk in nature and could have serious financial consequences.
Proposed solution: Responsible Wagering Australia is putting forth a new interactive gambling legislation should block operators from offering credit cards as viable payment methods.
The Challenge: If this legislation is implemented, it would also affect lottery tickets, which would not be purchasable through credit cards anymore.

There are really lots of risk using credit cards, while "buy now, pay later" is really helpful for only for the need and wants but this shouldn't be included as a payment option that can be used in gambling. It doesn't differ from lending like what was discussed on the other thread which will result more problem.

Removing credit cards on payment options will have more impact as a solution for prevention of problematic gambling than the challenge mentioned. Also, it will give other payment options to be added on traditional casino, well, crypto has a huge chance to be implemented as well.

Newlifebtc

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Quote from: Shinpako09 on December 17, 2022, 07:29:47 PM

It's nice to see them taking action, trying to stop gambling problem but this will only limit them. With crypto gambling booming, the problem will always be there. There are still crypto gambling sites that doesn't implemented KYC and you can easily used a VPN if your country is banned but still kudos to their government. Tbh, I can't think of any better solution with the technology we have. Illegal operators, as well as players will always find a way.

If you watch very well for such crypto gambling that does not accept kyc verification you will know that they are not Standard like other casino platform, because I know that personal platform is something that we are going to use to protect the interest of our game or are formed so any platform that does not implement kyc verification that means they have things in their mind which we don't know and he is not worthy to patronize it

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Quote from: Moneyprism on December 19, 2022, 01:00:42 AM

Quote from: Davidvictorson on November 18, 2022, 09:48:24 AM

How Sportsbet is working to address the problem - They are building a “real-time intervention” solution that will allow it to leverage the power of AI to quickly predict customers’ daily deposits and send alerts when the depositing amounts begin to climb up too rapidly.

i like their solution,, instead of limiting people to gamble they actually built a real time AI feature which limits the amount of people's deposits .. with this solution Sportsbet not only restricts people from over betting,, but also they won't lose their users, because we know that there are many users on Sportsbet who use credit cards and Sportsbet don't want to lose their users

Those AI are just intended to make out some alerts but not totally restricting those users, if we do consider on what kind of business they are running then its really that impossible that they would really be trying out to

block it out and prohibit users to play more.They would really be just making alerts but not on making out some restriction which it is really that impossible for a business like this.
Thing here is that people who do hold those credit cards should really be responsible on the first place.

They shouldnt really be impulsive when it comes to their spending because this is something that would make things gotten more worst.

Moneyprism

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Quote from: Davidvictorson on November 18, 2022, 09:48:24 AM

How Sportsbet is working to address the problem - They are building a “real-time intervention” solution that will allow it to leverage the power of AI to quickly predict customers’ daily deposits and send alerts when the depositing amounts begin to climb up too rapidly.

i like their solution,, instead of limiting people to gamble they actually built a real time AI feature which limits the amount of people's deposits .. with this solution Sportsbet not only restricts people from over betting,, but also they won't lose their users, because we know that there are many users on Sportsbet who use credit cards and Sportsbet don't want to lose their users

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Quote from: Saisher on December 18, 2022, 10:03:02 AM

Quote

Sportsbet Says Credit Cards in Gambling Must Go

Good initiatives coming from Sportsbet, but it means losing some clients who prefer to use a credit card with so many casinos offering credit card credits these gamblers will just look for one that is offering credit card credits if this going to be implemented it should be a concerted effort by the regulators, the banking industry should not honor credits coming from casinos.

The clients will use other ways to gamble because they are used to gambling. It's just a search for other ways to keep depositing money for gambling and maybe they will turn to crypto for gambling. Or they can still use a credit card and look for other casinos that accept credit cards for gambling. There are still many avenues for gamblers to continue gambling and they are sure to find one. This is not easy for the government and banks because if they have been gambling for a long time, they will come back to the casino and use another deposit feature.

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Quote from: xSkylarx on December 18, 2022, 03:34:42 AM

This move is going to lessen the gambler in Australia which i think they are not scared of. But it is a good move by the government and the casino owner as it could lead to debt, also the method that the casino owner doing (sending alerts when they deposit much higher) is can still be bypassed by those gamblers but the law is not so it is better to implement that law. I know a lot of gamblers wouldn't agree with this but this is for their own good

But what if the credit card companies based in AU allow their users to withdraw from their credit cards? Now that is a loophole that some Aussie gamblers can look at. I know it's rare for credit card companies to allow this in this day and age unless you have a good credit rating, but there is still that possibility. The effort may not completely solve the problem on the rise of the numbers of problematic gamblers in Australia, but at the least the gov't is not scared of losing tax revenues that gambling houses generate and that is something to be admired IMO.

Saisher

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Quote

Sportsbet Says Credit Cards in Gambling Must Go

Good initiatives coming from Sportsbet, but it means losing some clients who prefer to use a credit card with so many casinos offering credit card credits these gamblers will just look for one that is offering credit card credits if this going to be implemented it should be a concerted effort by the regulators, the banking industry should not honor credits coming from casinos.

molsewid

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Quote from: Shinpako09 on December 17, 2022, 07:29:47 PM

It's nice to see them taking action, trying to stop gambling problem but this will only limit them. With crypto gambling booming, the problem will always be there. There are still crypto gambling sites that doesn't implemented KYC and you can easily used a VPN if your country is banned but still kudos to their government. Tbh, I can't think of any better solution with the technology we have. Illegal operators, as well as players will always find a way.

Yeah, actually that was a good move. Imagine , a gambler is losing his money in his game and yet the interest in the money they are lending gets higher each day. Imagine the amount of frustrations they are feeling. Using crypto is the best way of course, I want to give sportsbet a thumbs up for this, I just really don't want to have a credit just for me to play.

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Quote from: Shinpako09 on December 17, 2022, 07:29:47 PM

It's nice to see them taking action, trying to stop gambling problem but this will only limit them. With crypto gambling booming, the problem will always be there. There are still crypto gambling sites that doesn't implemented KYC and you can easily used a VPN if your country is banned but still kudos to their government. Tbh, I can't think of any better solution with the technology we have. Illegal operators, as well as players will always find a way.

Any reputed crypto casino will not allow players from banned countries and some of them restricted from certain games because that is banned in such countries so don't think that you can bet and make money when laws are against it. Usage of VPN is for privacy not to bypass the ban restrictions so if you found to be violating this then your funds will be locked in the site itself.

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Quote from: mindrust on December 18, 2022, 05:46:23 AM

I think It is a futile attempt… It is not the casino’s responsibility to teach people smart with their decisions. The only thing the casino cares about is making money.

Let’s say they banned people from using credit cards… those people will use their cards to buy crypto this time… these casinos won’t know if the crpyto their customers deposited are borrowed coins or not.

It is all for the show… it is bot going to change anything imo

I absolutely agree with you. This decision is more like a PR campaign than a real help to gamblers who can not control themselves while gambling. In my opinion if this company really wanted to help such people, the best solution would be to open free help centers for people suffering from gambling addiction. But it is unlikely that they will do this as their livelihood depends on such people.

davis196

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This seems like a decent solution to me. Preventing the gamblers from getting into bigger debts is crucial for responsible gambling.
However, it has nothing to do with the crypto gambling industry. I don't know anything about any crypto casinos offering a "play now, pay later" feature.
I can't think about other effective solutions(that won't make the gamblers complain). Perhaps verification via live video chat, in addition to the KYC verification. This would help for banning all the kids, who are trying to gamble on online casinos by using fake IDs. However, many gamblers will be upset by having such feature. Another thing is that such verification must be done before the gambler deposits any money into the casino. Most casinos start the KYC verification process only after the player requests a withdrawal, which seems a little bit sketchy.

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Quote from: Davidvictorson on November 18, 2022, 09:48:24 AM

Sportsbet, an Australian betting giant, has said that it will support any move to prohibit the use of credit cards for gambling. The operator said that this type of payment method promoted a “play now, pay later” culture which was detrimental to the well-being of players and consumers. Here is a summary of the news below

The problem:Gambling with credit cards is high-risk in nature and could have serious financial consequences.

Proposed solution: Responsible Wagering Australia is putting forth a new interactive gambling legislation should block operators from offering credit cards as viable payment methods.

The Challenge: If this legislation is implemented, it would also affect lottery tickets, which would not be purchasable through credit cards anymore.

How Sportsbet is working to address the problem - They are building a “real-time intervention” solution that will allow it to leverage the power of AI to quickly predict customers’ daily deposits and send alerts when the depositing amounts begin to climb up too rapidly.

What other solutions can you think of?

This is really not a ground breaking concept and is already in place in many places like Europe, Australia are far behind in this respect. No doubt Sportsbet.com have made a decision that the bad press simply outweighs the ongoing benefit from the massive amount of money that they've raked in previously from credit card spending along with the massive debt that's put people in. No sensible politician could ever defend such a practice, as not only is it making casinos obscene profits, but the person afterwards is left with credit card debt which can be some of the most expensive interest rates you will pay to borrow. Undoubtedly they are trying to get ahead of the inevitable ban which should have happened long ago.

mindrust

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I think It is a futile attempt… It is not the casino’s responsibility to teach people smart with their decisions. The only thing the casino cares about is making money.

Let’s say they banned people from using credit cards… those people will use their cards to buy crypto this time… these casinos won’t know if the crpyto their customers deposited are borrowed coins or not.

It is all for the show… it is bot going to change anything imo

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Quote from: aioc on December 18, 2022, 04:41:00 AM

This is a good initiative, credit card credit is a big temptation not only to spend but to gamble and gamblers love to gamble until nothing is left, they will look for funds ask for a loan, and sell their pieces of stuff but with a credit card at their disposal, they cannot be stopped until they reach their limit and that's where the problem starts, countries with high numbers of gamblers should take the lead from Australia and implement this restriction.

Those with a credit card and are allowed to use it for gambling can use all their credit without thinking about how much they will have to pay back later. This is going to create new problems for those people and I don't know, this is also a problem for the company that issued the credit card. Maybe credit card companies could ban the use of credit cards for gambling and if someone did, they would revoke their credit card license and make them pay all the fees first. This restriction is actually for gamblers so they don't cross their limits but as we know, gamblers will do anything to be able to continue gambling.

aioc

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This is a good initiative, credit card credit is a big temptation not only to spend but to gamble and gamblers love to gamble until nothing is left, they will look for funds ask for a loan, and sell their pieces of stuff but with a credit card at their disposal, they cannot be stopped until they reach their limit and that's where the problem starts, countries with high numbers of gamblers should take the lead from Australia and implement this restriction.

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Quote from: Poker Player on November 18, 2022, 12:38:00 PM

I think it's a good idea. Anything that helps to curb people who get out of control with gambling and end up losing much more than they can afford, even if they are in debt, is a good thing. Although it seems to me that with the ease of credit today the effect will be small. Nowadays many people have a pre-conceded personal that with two clicks on their cell phone they get the money in their account. Or instead of spending the credit card you can spend all the money you have in the casino and then pay the month's expenses with the credit card.

I have already said that I think it is positive but it will not be a panacea.

I definitely agree with your statement.

The feeling that a person has the power to spend due to credits is just potentially dangerous. They can definitely spend their month's savings in a day of gambling depending on the circumstances. Such kind of action is significantly detrimental not only to the lives of these gamblers but also to the credit company in realizing their payments. I hope that Australia becomes more proactive when it comes to solutions in dealing with gambling addiction.

xSkylarx

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This move is going to lessen the gambler in Australia which i think they are not scared of. But it is a good move by the government and the casino owner as it could lead to debt, also the method that the casino owner doing (sending alerts when they deposit much higher) is can still be bypassed by those gamblers but the law is not so it is better to implement that law. I know a lot of gamblers wouldn't agree with this but this is for their own good

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Quote from: wxa7115 on December 18, 2022, 12:42:24 AM

Quote from: Shinpako09 on December 17, 2022, 07:29:47 PM

snip

As long as what you are doing is legal I have never being in favor of the government telling you what to do with your money.

However I will say that I agree with prohibition on the use of credit cards to gamble, and that is because the money in the credit card is not yours, it belongs to the bank and as such they must have a say on which kind of stuff they are willing to let you buy when you borrow some of their money, however I would like this kind of law to apply not only to gambling games but to other products like alcohol, so people cannot buy them unless they are paying with a debit card or with cash.

credit cards make everyone in eternal debt, and users will find it difficult to let go of the habit because it is addictive. for everyone, you should stop using your credit card to buy things because it's not your money, and also for gamblers so don't cash out your credit card just to deposit your gambling account, you won't be able to get it back when you lose.

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Quote from: Shinpako09 on December 17, 2022, 07:29:47 PM

It's nice to see them taking action, trying to stop gambling problem but this will only limit them. With crypto gambling booming, the problem will always be there. There are still crypto gambling sites that doesn't implemented KYC and you can easily used a VPN if your country is banned but still kudos to their government. Tbh, I can't think of any better solution with the technology we have. Illegal operators, as well as players will always find a way.

As long as what you are doing is legal I have never being in favor of the government telling you what to do with your money.

However I will say that I agree with prohibition on the use of credit cards to gamble, and that is because the money in the credit card is not yours, it belongs to the bank and as such they must have a say on which kind of stuff they are willing to let you buy when you borrow some of their money, however I would like this kind of law to apply not only to gambling games but to other products like alcohol, so people cannot buy them unless they are paying with a debit card or with cash.

Shinpako09

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It's nice to see them taking action, trying to stop gambling problem but this will only limit them. With crypto gambling booming, the problem will always be there. There are still crypto gambling sites that doesn't implemented KYC and you can easily used a VPN if your country is banned but still kudos to their government. Tbh, I can't think of any better solution with the technology we have. Illegal operators, as well as players will always find a way.

Topic: New Solution to Address the Problem of Gambling in Australia. - page 2. (Read 784 times)