In 2020 Senator Sterling Griff sponsored a bill that prohibits credit cards from being used for gambling. It is an amendment introduced into the IGA, the Interactive Gambling Act that was established in 2001 by the Australian Government. Its purpose is to protect Australians from the dangers of online gambling. Although in actuality, online gambling is regarded as a safer one than casino wagering. They follow rigid legislation as well as monitor unusual or risky behavior and have the possibility to interfere at once whenever it is necessary. There are a lot of good examples of gambling websites providing fair services as well as great promotional offers to their customers. You may check one of them by visiting https://woocasino.one/bonus-offers/ as it’s a trusted and safe platform regularly offering profitable promotions.
Debating Sides of the IGA Amendment
The bill officially states that it amends the IGA in order to prevent online casinos from accepting deposits made by credit cards. Responsible Wagering Australia CEO Brent Jackson defends the players’ right for using credit to gamble. He is convinced that no evident data is provided to prove that virtual gambling on credit has any risk whatsoever and every possible intervention should be undertaken against the amendment. He states that punters should have their right for choosing in what way they make deposits when gambling. One the other side of this controversial question Queensland parliament member Andrew Wallace demands that the interest rates of the credit card should be as much as 22% which in its turn may have dangerous consequences. He made a clear point that he expects Australian banks to ban credit card gambling. Certain banks have put limits for credit cards on gambling apps but the larger banks haven’t taken steps to proceed with this type of change.
The Changes That Are Currently Happening
At present, online gambling for Australians is confined by just a few types of punting. These are TABs (Totalisator Agency Boards), bookmakers and betting exchanges. Casino style games are forbidden and operators licensed in foreign states are banned as well. Although, despite the ongoing laws, gamblers in Australia put at risk approximately $400 million through online casino gaming every year. Nonetheless, changes are steadily but surely happening to this industry in relation to credit card use. The Bank of Australia cancelled all credit transactions linked to gambling. Following this shift, a few leading Australian banks united for banning gambling with the usage of credit cards in March 2021. All these measures reinforce many other smaller banks to follow the beginning tendency and implement the changes which can cause a great shift in the online gambling industry.
A Way to Solve the Current Situation
A suggestion was made for solving this issue by the First Australians. The solution is for online casinos to receive exclusive licenses that might become a way to regulate virtual gambling as long as the Australians are not willing to abandon this entertaining activity.