Casino Operators ready to support credit cards ban
When the pandemic started last year, lots of people had to sit at home within the walls. Self-isolation has changed our idea of leisure activity: it turns out that you can go to concerts, visit museums, meet friends in bars and even travel online. A lot of people gambled online and many players opened new casino accounts. As a result, the number of gambling addicts has increased.
Measures To Prevent Gambling Addiction
Governments of different countries have taken some steps to protect online gamblers. For example, online casinos can be advertised at midnight in Spain, Australia. The British Government made some agreements with a number of the largest representatives of industry to voluntarily allocate sums for the treatment of people suffering from gambling addiction. The draft Gambling Bill would “make provision for … reserve powers for an industry levy to tackle problem gambling”.
In April 2020, the UK Gambling Commission announced a ban on gambling businesses allowing consumers in Great Britain to use credit cards to gamble. In May 2022, Australian Parliament started to consider banning credit cards for online gambling. The committee’s chairman, Queensland Liberal National politician Andrew Wallace said that “customers using credit cards to place online bets or gamble online have high-interest rates and have an increased risk of loss, which is a big problem for many individuals and their families. The Commonwealth, which is responsible for financial services regulation, should implement safeguards.”
Top Gambling Companies Saying ‘Yes’ to Prohibit Using Credit Cards Online
And now members of Responsible Wagering Australia (RWA) agreed to support the above-mentioned ban. RWA is the independent peak body for Australian‑licensed wagering service providers (namely, bet365, Betfair, Entain, Sportsbet and Unibet).
Brent Jackson, chief executive of RWA, claimed, “As a policy-based body we want to achieve the best outcome for consumer protection. 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.”
He added that the country’s major virtual wagering operators were going to support measures to prohibit the usage of credit cards at online gambling venues. Jackson added that RWA would work with banks to make this a reality. RWA members are going to make agreements with banks and online payment service providers “to ensure the change can be delivered without adverse unintended consequences”.
They want to harmonise the online environment with gambling at all gambling venues where credit card use is prohibited. Jackson said, “This measure will build on Australia’s strong consumer protection framework for online gambling.”
RWA members recognize the existing problem with gambling addiction and want to do their best to deliver this reform to other operators and customers.
However, to guarantee legal compliance, any agreement to implement the measures is subject to relevant parties obtaining all necessary regulatory approvals.