The federal government is preparing to tighten restrictions on online gambling. As part of this, legislation is being drafted to ban the use of credit cards to pay for online bets. The move already has the support of gambling establishments, but its backers are demanding faster action and stronger protections.
Australia’s reputation as a nation of gamblers is now reflected in various advertisements.
Former NBL basketball star Shaquille O’Neal can now be seen in ads for the Pointsbet app. PointsBet is an online betting application where people can bet on the outcome of sports. But with Australia ranking highest in the world on betting apps, the government is set to impose stricter regulations on the industry.
Communications Minister Michelle Rowland said banning the use of credit cards in online betting was now a priority for the government.
This ban already exists for traditional bookmakers and casinos. So this new move will close a loophole through which online betting services will no longer be able to use credit cards.
However, public lotteries will be exempted, as the risk of large financial losses is low in this industry.
Carol Bennett, CEO of the Alliance for Gambling Reform, claims these reforms are long overdue, but starting now is a good initiative to reduce gambling.
The new law is getting widespread support, even from the betting industry.
Kai Thomas of Responsible Wagering Australia confirmed the government’s decision would have positive outcomes for gamblers.
And Social Services Minister Amanda Rishworth said she hoped this support at all levels would be reflected in compliance with the law.
Australia’s online gambling industry is now the subject of parliamentary debate.
But the amount of advertising that the industry has associated with Australian sport warrants consideration in its restructuring.
Bookmakers are still signing new contracts to promote themselves more in prime-time.
But the industry is expected to welcome tighter regulation.
Minister Rishworth said this legislation is just the beginning of a long journey ahead.
