The gambling body in Australia is standing united to oppose the proposed law that stops betting companies from accepting credit cards from online gamblers. The bill was proposed by the Centre Alliance Senator Stirling Griff, which was earlier banned in the UK, thinking that it is a crime to promote online card payment for gambling.
In Australia, online gambling is limited to bookmakers and betting exchanges. There are also poker and online casino games needed for illegal sporting events. Moreover, the country also doesn’t allow online service licenses.
“Not enough proof of policy failure.”
The Responsible Wagering Australia (RWA), representing the country’s betting companies like Betfair, Entertain, Sportsbeat, and Unibet, have together come to speak against this restriction.
According to the body, the restriction lacks evidence of the policy failure towards the credit payment for the gambling credit. For other betting groups, this could be news like the Suicide Prevention Australia, Alliance for Gambling Reform, and Relationships Australia, which has also claimed that this restriction can harm the industry.
The body claims that there will be billions of losses the industry faces due to these current policies. For example, one of the case studies submitted by the Alliance for Gambling Reform says that a professional ended up racking around $65,000 due to credit card debt during gambling.
The testimonials say it is easy to see what equivalent the money pot is having a huge interest rate associated during the withdrawal.
Credit changing Australia’s gambling industry
According to the report submitted by the RWA, there is a specific claim about evidence lacking to support the ban. There is a lack of a direct link between credit cards used for betting online and any issues with gambling in Australia. However, there are certainly some proofs of how credit cards are supporting the gambling industry in Australia.
The Relationships Australia Submissions mentioned a 2019 study by the Australian Institute of Family Studies that many Australian gambling players use a credit card to support gambling problems. Many clients feel that they are not playing with actual money, but as just a figure and amount is unreal. The inquiry report from the Senate is due on July 30.