Are Credit Cards Banned in Aussie Online Gambling Community?

If you have been playing at online casinos for a long time, then you know that credit cards payment is the norm. However, there might be a credit cards ban coming in the near future. How will this affect the online Australian gambling community? An article from Programming Insider suggests that people should have the choice for their online transaction.

Why credit cards ban?

Any online gambling punter knows that losing a few dollars on betting is not a big deal. It’s in fact part of the game and this can happen anytime. But this is exactly where credit cards come in. Australia has banned the use of credit cards since the 2000s in the world of gambling. Hence, if you go to a land based casino, you would not be able to use your credit card to play.

However, that law did not apply to online casinos and so players could still use their credit card to play online casino games such as pokies and more. However, the issue comes from the fact that there are costs associated with this type of transaction. When card providers process gambling transactions, they view them through the prism of cash advances and hence receive fees and higher rates that are not the usual.

So when you are using a credit card to pay for anything at an online casino, there is a dissonance between the transaction and the idea of eventually having to pay it off.

What’s the current situation?

Right now, most Aussie states have already prohibited players from using credit cards to play at land-based casinos. But, credit cards are still accepted for online betting. Some financial institutions have already banned this payment method, but major banks have yet to follow same.

The Australian government is also looking into the matter, especially after the rapid growth of online new players for casinos in the past year due to Covid-19. Online gambling is still illegal in Australia, hence it is obvious the government would want to lower the people playing at them.

So, can the ban of credit card as an online payment for online betting be the solution?