Australia’s ban on gambling with credit cards and cryptocurrencies came into effect on Tuesday, June 11.
Operators who fail to enforce the ban on credit cards, credit products, and digital currencies will face fines of $155,683.
This tightening follows the Albanese government’s amendments to the Interactive Gambling Act 2001 from late 2023, aiming to align online gaming regulations with those of land-based gaming.
Minister for communications Michelle Rowland MP said: “Australians should not be gambling with money they do not have.
“This ban builds on the significant progress to minimise gambling harm that the Albanese government has made over the past two years, which is already benefitting thousands of vulnerable Australians.
“Our commitment to ensuring that gambling takes place within a robust legislative framework with strong consumer protections remains steadfast, and we will have more to announce in due course.”
Australian market participants had six months to adjust to the legislation, which also strengthens the powers of the Australian Communications and Media Authority.
The government has indicated it will consider the 31 recommendations from the recent Parliamentary Inquiry into Harm from Online Gambling, including a potential complete ban on advertising.
Minister for social services Amanda Rishworth MP added: “Our government takes seriously our responsibility to prevent and reduce harm from online wagering.
“Our ban on credit cards will help with this goal. You can’t use your credit card to place a bet for land-based gambling and now the the same rules apply for online gambling.
“I am proud of the steps we have taken so far to protect vulnerable Australians but recognise there is still much to do – and we will keep working to create a safer environment for Australians at risk of gambling harm.”
The industry welcomed the ban, with Responsible Wagering Australia (RWA) expressing support for the measure.
RWA CEO Kai Cantwell said: “This is an important measure to protect customers, making it easier for people to stay in control of their own gambling behaviour.
“It will complement the existing offering of safer gambling account management tools by RWA members.
“RWA and its members support the extension of this measure to all forms of gambling that have been exempted from the ban such as lotteries and keno.
“If consumer protection measures aren’t consistent across all forms of gambling it will incentivise vulnerable Australians to move to less-regulated types of gambling, where they are more at risk of harm.”
The tightening of regulations comes amid accusations that the industry contributes to gambling addiction. Previously, the government introduced mandatory pre-checks for all new online betting accounts to prevent children and self-excluded individuals from gambling.
Operators are now also required to send their customers monthly statements outlining their winnings and losses. BetStop’s national self-exclusion register, launched in August 2023, already has over 22,000 enrollees.
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