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Australian Gambling News from Roo Casino

Tabcorp is not against banning credit cards for online gambling

This is the first time we hear from Tabcorp (the Australian gambling giant) that they will allow a possible ban on Australians on credit card betting given that lottery tickets will be available for sale at newsstands.
tabcorp company logo
Tabcorp company
The 2020-2021 pandemic has highlighted the need for more government intervention to protect Australian citizens when betting online (The Sydney Morning Herald cites Tabcorp).

Parliament is working on a decision to completely update laws regarding the use of credit cards and digital wallets for online gambling in Australia.

The new rules are aimed at online betting in order to bring them in line with other laws that affect TAB gambling halls, casinos and outlets and prohibit cash withdrawals at local ATMs.

State and territory governments have always been responsible for regulating and licensing rates.

A large number of foreign-owned and fully online gambling companies have acquired their licenses in the Northern Territory, and we see that in recent years they have paid more than $ 1 billion to states in point of consumption taxes and other product fees.

Peak bookmakers do not support the initiative to ban the use of credit cards

Overseas-owned bookmakers represented by Peak Body Wagering Australia also opposed the ban, believing there was no strong evidence against the use of c-cards on online betting platforms and the growing problem of gambling.

According to Tabcorp, the national normalization of gambling regulations and enforcement laws is necessary for overall success, stability, and integrity, rather than simply banning credit cards.

It will include a central point for licensing and regulating online gambling companies to ensure adequate consumer protection. Also from Tabcorp officials: "Customers who traditionally bet in cash in a controlled retail environment have opened online gambling accounts to continue to bet on horse racing and sports."

"Some of these customers who have switched to online betting will not come back to place bids at point of sale." One of the most recent polls by the Australian Gambling Research Center (AGRC) found that the increase in the number of gamblers was conducted online by 16 cents (62 per dollar before COVID versus 78 per dollar this year).

Tabcorp aims to maintain the existing lottery shopping system

Tabcorp said customers will face unintended consequences from the racing and lottery industry, as well as newsstands, in applying technology to ban credit card purchases. They expect a one-year transition period between the existing regulations and the new industry ban.

According to their statistics, "More than 40 percent of lottery customers use credit cards for convenience and often purchase lottery products as a lifestyle bundled with other consumer goods of their daily lifestyle, such as magazines, greeting cards and milk." Andrew Wallace (Liberal MP) is pushing for a ban on gamblers from using credit cards online, telling parliament they have to deal with high interest rates and a high probability of losing, which was absolutely dramatic for families.

"The states and territories prohibit the use of credit cards in places like TAB, poker machines, casinos and RSL. One place where you can still use your credit card for gambling is on the Internet. We, as the Government of the Commonwealth, control this space and we need to do better than we do now. "

Macquarie, Citibank, Suncorp, along with other banks have decided to ban the use of c-cards for gambling, although the big four banks are in the process of making a proposal.
Publication date: July 21, 2021, 10:35 UTC
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