Australia approves ban on credit cards and crypto online gambling

Legislation that forbids the use of credit cards and cryptocurrencies for online gambling and betting has been approved by the Australian House of Representatives. This comes after their usage for in-person gambling and betting was previously prohibited. It creates a comprehensive strategy to address the widespread problem of gambling addiction in the nation, according to the government.

Gaming lobbyists vehemently opposed the legislation, which is a part of a larger gambling reform initiative in Australia.

 

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Australia has become the latest country to approve a ban on the use of credit cards and cryptocurrency for online gambling. The ban was approved by the country's parliament and is set to come into effect in early 2024. The move is part of a wider effort by the Australian government to combat problem gambling, which is estimated to cost the country more than $4 billion each year. Other measures that have been taken include limiting the number of gambling ads that can be shown on TV and requiring gambling companies to use a national self-exclusion register.