An Australian ban on the practice of using credit cards for online gambling has received full backing from the members of Responsible Wagering Australia (RWA). The membership comprises some of the nation’s largest online betting operators like Bet365, Betfair, Entain and Sportsbet.
Brent Jackson, the Chief executive of RWA, used his opening address to an inquiry into the regulation of the use of financial implements like credit cards and digital wallets for online gambling in Australia to announce the new measure. The inquiry’s purpose was to garner evidence relating to whether credit cards and digital wallets should be allowed as transaction methods for online gambling.
“As a policy-based body we want to achieve the best outcome for consumer protection,” Jackson said. “We think that the best way of achieving this is by committing to transparent discussion and actively working with stakeholders to make sure we provide the best outcomes. Australia’s major online wagering operators will support development of measures to prohibit credit card wagering,” Jackson said, emphasising that the RWA would work alongside banks to bring this to fruition.
“Responsible Wagering Australia members have agreed to develop a technical solution to deliver this reform in a timely fashion and will seek the assistance of banks and payment processing providers to ensure the change can be delivered without adverse unintended consequences.”
He elaborated further, saying,
“Responsible Wagering Australia members acknowledge concerns expressed by policymakers and the community sector and will seek to develop measures which harmonise the online environment with gambling at clubs, pubs and casinos where credit card use is prohibited. This measure will build on Australia’s strong consumer protection framework for online gambling. Responsible Wagering Australia members recognise and respect community views on this issue and will work constructively on delivering this reform.”
Jackson explained that regulatory approval is central to ensuring that the ban is put in place.
The inquiry into the use of credit cards came about following a discussion in late 2019 by the Australian Banking Association on the same issue. In 2020, Bank Australia revealed that it would prohibit the use of credit card payments for gambling.
A similar ban exists in Great Britain that includes credit card gambling through e-wallets. The Australian commission has informed gambling operators that they may only accept e-wallet transactions once they have prohibited credit card usage.
