Using credit cards for payment purposes has always been a normal thing for Australian gamblers. Whether they used Aussie Online Casino or any other gambling site, they processed inbound and outbound transactions with ease. But things are about to change with the credit card ban in the AU gambling community.
The Issue of Payment
How do people pay for their betting activities? Does it cause any problems? Nothing seems to be a problem when it happens once in a while. Losing a few dollars on various bets is not a big deal, so your finances don’t start to feel the strain. And this is where credit cards come in, although they shouldn’t.
In the world of gambling, the use of credit cards has been banned in Australia since the early 2000s. So, if you go to a land-based casino, you will not be able to use your credit card to start wagering. If you’re placing a bet online, you will still have an opportunity to place BPay deposit at online casinos with a credit card.
So, what’s wrong here? Apart from the fact that you borrow money from the bank, there is the cost associated with this type of transaction. When card providers process gambling transactions, they view them through the prism of cash advances. As a result, they receive fees and higher interest rates that are not imposed on regular transactions.
Online gambling resources make gambling incredibly easy. They are ‘available all the time – and there’s always something to wager on. So, when you’re using a credit card to pay for anything else, there is a dissonance between the transaction and the idea of eventually having to pay it off. It just doesn’t feel like you’re wasting money for something proper.
At the moment, most Australian states already prohibit players from using credit cards to gamble in land-based casinos. Online gambling is the only legal form of betting where credit cards are still accepted. Although some financial institutions have already started banning credit card uses for gambling, the major Australian banks haven’t made any steps toward such restrictions.
The Australian government considers accepting this law due to the rapid growth of the number of active online gamblers. Ever since the COVID-19 pandemic, the percentage of people joining online casinos and betting online has grown from 62% to almost 80%. Such a drastic increase happens to be a rare thing for such a short period of time.
Most land-based venues have closed their doors as a result of strict pandemic-induced restrictions. They seem to understand the need for this ban as the high number of online gamblers has turned into a serious issue the government can’t deal with easily.
Online gambling ventures like online casinos are considered to be illegal in Australia. Thus, it is obvious that the government wants to lower the number of people involved in illegal operations and to protect them from potential inconveniences.
Many live casinos in Australia for VIP gambling players offer a wide range of services. For example, Online Casino Aussie is a good representative of the gambling world. But it is dependent on online payment via credit cards. In the case of potential restrictions, incredible damages will be inevitable.
Hopefully, online casinos operating in the gambling sector won’t agree on the removal of credit cards from potential payment methods. Is this the right way of fighting against gambling addiction? It’s hard to say. One thing is clear: people should be free to make their own decisions, whether it comes to the choice of casino or the choice of payment method.