Brent Jackson, chief executive of RWA, announced in his opening address to the “Inquiry into Regulation of the use of financial services for online gambling in Australia” that Australia’s major online wagering operators will support measures to prohibit credit card wagering. This measure aims to achieve the best outcome for consumer protection through transparent discussions and collaboration with stakeholders, including banks and payment processing providers.
Responsible Wagering Australia members have agreed to develop a technical solution to deliver this reform and ensure that it aligns with the strong consumer protection framework for online gambling in Australia. They also recognize and respect community concerns and views on the issue and will work constructively towards implementing this reform. However, regulatory approval will be necessary to enforce the ban on credit card use in online gambling.
The inquiry into the use of credit cards in gambling follows a consultation by the Australian Banking Association in late 2019. Bank Australia, a consumer-owned bank, has already taken steps to stop processing credit card payments for gambling. Great Britain has implemented a similar ban, which covers credit card gambling through e-wallets, and operators are reminded by the Gambling Commission to only accept customer payments via e-wallets if they prevent credit card use for gambling.
