Australia Introduces New Legislation to Prohibit Credit Card Use in Online Gambling

In a significant legislative move, the Albanese Labor Government will introduce a bill to the Australian Parliament today aimed at banning the use of credit cards for online gambling. This initiative is designed to safeguard Australians from potential online gambling harms.

The Interactive Gambling Amendment (Credit and Other Measures) Bill 2023 will prohibit not only credit cards but also credit-related products and digital currencies in online wagering. This bill is part of the government’s ongoing efforts to protect vulnerable individuals from the risks associated with online gambling. Companies failing to comply with the new rules could face steep fines up to $234,750.

Communications Minister Michelle Rowland emphasized the government’s commitment to protecting Australians and their families from gambling-related harms, stating, “People should not be betting with money they do not have.” The bill also provides for future expansions of the ban to include emerging credit-related products, ensuring the legislation remains effective over time.

This legislative action follows recommendations from the November 2021 Parliamentary Joint Committee on Corporations and Financial Services. It will also enhance the Australian Communications and Media Authority’s enforcement capabilities concerning online gambling regulations.

The bill includes a transition period of six months from its enactment for the industry and consumers to adapt their practices accordingly. Other measures introduced by the government include monthly activity statements for gamblers, enhanced training for online gambling staff, and the BetStop program, allowing users to self-exclude from all Australian licensed wagering services.

The proposed legislation underscores the government’s proactive stance on reducing online gambling risks, with further strategies and collaborations planned to strengthen the protection of Australians from gambling harms. A national ministerial meeting on online wagering is scheduled before year-end to continue these efforts.

Recent measures also include mandatory customer pre-verification to confirm identities before betting online, set to be implemented by the end of the month, highlighting the government’s comprehensive approach to tackling online gambling issues.