New changes
People in Australia can no longer use credit cards to add funds to their online gambling accounts. The new restriction came into place on Tuesday, following a similar measure already implemented for retail gambling.
Other payment options that are part of the ban include additional debt-accumulating products, loading e-wallets with a credit card, and cryptocurrencies.
a fine of up to AU$234,750 (US$154,897)
Any operators that do not adhere to the rules will face a fine of up to AU$234,750 (US$154,897) after a six-month transition period. People can still purchase lottery tickets online or play Keno with credit cards, however.
Protecting people
The Australian Communications and Media Authority also now has greater power to ensure that operators are falling in line and the right to issue harsher penalties if they are not.
Australian lawmakers decided on the ban after consulting with stakeholders like operators, banks, and harm reduction advocates.
Talking about the new restrictions, Social Services Minister Amanda Rishworth said that it will help protect vulnerable people, adding that the government is committed to making more changes in the future to protect consumers. One other major restriction potentially on the way is a blanket ban on gambling ads.
A big area of concern
Responsible gambling is a hot topic among lawmakers in the country, with Australians losing more to gambling than any other country in the world. The Australian Institute of Health and Welfare estimates that residents hand over roughly AU$25bn (US$16.5bn) annually to legal gambling operators.
the rolling out of a new self-exclusion scheme named BetStop
Other recent measures that came into place include the rolling out of a self-exclusion scheme named BetStop which has accrued 22,000 names since August and a requirement for all users of online gambling accounts to provide ID verification when creating a new account.