Australians can no longer use credit cards and digital currencies at online casinos. Because the government wants to stop people from gambling money they don’t own.
The ban includes credit cards linked to digital wallets and cryptocurrencies. In simpler terms, the rules for traditional and online casinos are now the same. But this rule doesn’t apply to online lotteries.
In this article, we will talk about the reasons to ban using cryptocurrency and credit cards at online casinos Australia. Plus, we will see how other countries are dealing with cryptocurrency in the casino industry. Let’s start with a better understanding!
Government Announcement
The Australian government banned using cryptocurrency and credit cards for online gambling to provide a secure environment for gamblers. As you know, .Aussies are known for their gambling culture. A large population in Australia is linked to this industry. That’s why there are many issues arising. To cope with those, the government has taken some measures recently in 2024.
On June 11, The Canberra Times reported that Australia began this ban on digital currency and credit card use for online gambling platforms.
The government said that companies not following these new rules could be fined up to about 234,750 Australian dollars ($155,000). The ban includes credit cards linked to digital wallets and cryptocurrencies like Bitcoin.
Pre-Verification to Control Gambling
The ban on credit card and crypto payments came after the Australian government introduced mandatory pre-verification for all online gambling customers. They also changed the “Gamble Responsibly” message in ads to evidence-based taglines.
Additionally, the government launched BetStop, a national self-exclusion register. Due to this, more than 22,000 Australians have been excluded from online wagering and promotions.
Kai Cantwell, CEO of Responsible Wagering Australia, said, “If consumer protection measures aren’t consistent across all forms of gambling, it will encourage vulnerable Australians to move to less-regulated types of gambling.”
Other Countries On Cryptocurrency at Online Casinos
- United States
In the US, cryptocurrency is legal. However, the government has been changing since its involvement in the casino industry. As you know, there are 50 states in the US and each has its own rules regarding gambling. There are some crypto casinos where US players are not allowed. Even though they don’t require KYC.
- United Kingdom
As you know, crypto is legal in the United Kingdom. Plus, this region is also famous for gambling. There are many casinos but they have to follow rules set by the gambling commission of the UK. Here, only licensed casinos can operate. Besides, they also have to follow follow anti-money laundering and KYC. That’s the reason most people play casinos in the UK.
- Canada
There is no restriction on cryptocurrencies in Canada. But when it comes to casinos, you can run any casino in isolation. You have to come under the supervision of a legal body. They enforce strict rules, and online casinos must be registered. Canada doesn’t have specific laws against using crypto on offshore casino sites.
- New Zealand
New Zealand is a very lenient country and allows all types of digital currencies. This thing attracts gamblers to this place. Plus, every online casino here in New Zealand accepts cryptocurrency. So, if you only have cryptocurrency, there is no other awesome place than to play at New Zealand casinos.
- Norway
The Norwegian government controls gambling through Norsk Tipping and Norsk Rikstoto. This move encourages the casino industry. Due to this government intervention, the casino business is flourishing in this country. Plus, there are many offshore casinos that accept Bitcoin and other digital currencies.
- Sweden
Online gambling is legal in Sweden. However Swedish authorities put some restrictions on foreign online casinos. But it doesn’t mean they don’t allow cryptocurrencies at all. According to a report, crypto casinos are very popular in Sweden. Most Swedish people play only at the crypto casino which thing compels the government to smoothen the rules.
- Switzerland
There is no casino entry in Switzerland without a valid license. Besides, they also should have a physical presence in the country. No doubt, it looks expensive to have a presence. But Switzerland is an epicenter of tourists and gamblers too. If you run your casino there, you will see an exponential increase in revenue.
Final Thoughts
No doubt, people love casinos that allow cryptocurrencies. There are many reasons to choose crypto casinos like anonymity, quick transactions, and minimal fees. But when it comes to Australian casinos, the government is trying to secure their citizens. The Australian government has banned cryptocurrency and credit cards while playing at casinos. But many things are under process and what will impact this decision no one knows. Lastly, this action is taken by the Australian government only for consumer protection.