Australia Parliament plans to introduce a law that will disable the use of credit cards or digital wallets for online gambling transactions in the country. Credit cards can no longer be used in ground gambling establishments.

Andrew Wallace, an influential politician belonging to the Liberal National Committee of Queensland, and the Chairman of the Joint Parliamentary Committee on Corporations and Financial Services, called on to investigate in order to determine the possibilities of consideration of amendment to the Law on Interactive Gambling 2017.

Recently, politician told the Parliament that players using credit cards on the Internet risk getting high interest rates and great chances to incur significant losses.

Mr. Wallace said:

“We, as the Commonwealth Government, control this space, and we need to do it better what we do now. About 25 billion dollars spend on gambling annually. And for this money, about six hospitals of the University of Sunshine Coast can be built.

The Parliamentary Committee will consider a number of such issues:

  • Adverse effects for consumers using credit cards for online gambling;
  • The degree of existing voluntary prohibitions of Australian financial institutions;
  • Forms of existing consumer protection measures;
  • Regulatory framework acting in other jurisdictions.

Incidental Commission must submit a report on these issues until July 30 of the current year.