As a researcher with a personal interest in public policy and addiction, I believe that the Australian government’s decision to ban online gambling using credit cards and crypto is a commendable move. With the increasing proliferation of online gambling platforms worldwide and the rise of cryptocurrencies as a means of payment, it was essential for regulators to take action to protect vulnerable Australians from the potential harm associated with these activities.
The Australian government has implemented new rules, preventing its citizens from engaging in internet gambling and imposing penalties of up to 234,750 Australian dollars on gambling platforms that facilitate transactions using credit cards or cryptocurrencies. This regulation primarily targets online casino games and poker rooms, but exemptions apply to certain forms of gambling such as lotteries and keno.
Regulators in Australia have implemented new measures to shield users from excessive spending on luck-based games, recognizing the potential addictive nature of gambling as it proliferates through numerous online platforms and the use of cryptocurrencies.
Australian Social Services Minister Amanda Rishworth emphasized, “Our government is committed to minimizing the risks of online betting.” The implementation of this restriction originates from the Interactive Gambling Amendment (Credit and Other Measures) Bill 2023. After securing approval in December of the previous year, digital gambling platforms were granted approximately six months to adjust to the upcoming ban.
The Australian Communications and Media Authority (ACMA) serves as the regulatory body, ready to intervene if any platform violates the ban on online gambling. This entity ensures online gambling practices adhere to the rules and imposes hefty penalties on non-compliant parties, as stated by Michelle Rowland, the Australian Communications Minister: “Australians should not be risking money they cannot afford to lose.”
While imposing a ban on gambling and designating a regulatory body for monitoring gambling activities is a commendable initiative, the implementation of the ban might not completely solve the problem. According to Kai Cantwell, CEO of Responsible Wagering, who spoke with The Canberra Times, “If safeguards for consumers aren’t uniformly applied across all types of gambling, it could push susceptible Australians towards unregulated forms of gambling, where they are more prone to experiencing harm.”
This year, the Australian government will implement regulations for video games containing gambling-like features. They will prohibit such games, including loot boxes and other luck-based content, from being accessible to those under eighteen years old. Additionally, games with in-game purchases will be restricted to an adult audience.
Image by beasternchen from Pixabay
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2024-06-12 14:10