Australia is edging closer to introducing a ban on credit card wagering for online gambling services, following the House of Representatives’ approval of ‘The Interactive Gambling Amendment Bill (2023).’
Submitted to the lower house in September, the Interactive Gambling Amendment Bill 2023 aims to ban the use of credit cards, credit-related products, and digital currencies for online wagering.
The Bill continues the government’s priority work to protect vulnerable Australians from online gambling harms and will also empower the Minister for Communications to prohibit additional credit-related products as they emerge, ‘future-proofing’ the legislation.
Among its provisions, the Bill enhances the authority of the Australian Communications and Media Authority (ACMA), enabling it to robustly enforce both new and existing civil penalty clauses under the Act.
In cases of non-compliance with the new credit wagering rules, the ACMA will be able to impose penalties of up to AUD $240,000.
The passage of the Bill seemed likely as it had the support of both Australia’s Labor and Liberal Parties. Having passed the lower house, the bill will now be debated in the Senate, the upper house of Australia’s parliament.
The ACMA will provide a six-month transition period from the date of Royal Assent for the industry and consumers to adjust their business and betting behaviors, respectively.
In 2023, Australian MPs approved new federal protective measures under the ‘National Consumer Protection Framework‘. Major changes in the gambling sector led the ACMA to launch ‘BetStop,’ a self-exclusion and mandatory pre-verification register for online gambling.
In Parliament, Australian ministers continue to debate further restrictions on the gambling sector. This summer, the Labor Party expressed its support for the recommendations made by the ‘You win some, you lose more‘ market inquiry.
Of the 31 recommendations made to Parliament, a ‘phased ban approach’ on gambling advertising was recommended as the most effective measure to protect vulnerable audiences.”
John Sommers is a distinguished figure in the world of gambling expertise, known for his deep knowledge and insightful analysis of the gaming industry. As a seasoned author, he has contributed extensively to the reputable gambling news site, TwinCasinos, focusing on providing valuable insights to English-speaking gamblers worldwide.
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Author: John Sommers
John Sommers is a distinguished figure in the world of gambling expertise, known for his deep knowledge and insightful analysis of the gaming industry. As a seasoned author, he has contributed extensively to the reputable gambling news site, TwinCasinos, focusing on providing valuable insights to English-speaking gamblers worldwide. With a career spanning over a decade, John has honed his expertise in various aspects of gambling, from strategic gameplay to industry trends and regulatory developments. His articles are revered for their blend of comprehensive research, astute observations, and a knack for demystifying complex concepts for both novice and seasoned players. Beyond his writing prowess, John has established himself as a trusted authority, often sought after for his expert commentary on the ever-evolving landscape of the casino and betting industry. His passion for responsible gambling and commitment to ensuring players make informed choices are evident in his work, making him a beacon of integrity in an industry that demands such values. Whether you’re a casual gambler or a dedicated enthusiast, John Sommers’ contributions to TwinCasinos promise to be an invaluable resource for navigating the dynamic world of gambling.
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