The Interactive Gambling Amendment (Credit and Other Measures) Bill 2023 has been introduced into the House of Representatives to prohibit the use of credit cards, credit related products and digital currency as payment methods for interactive wagering services. Background.

The Bill will amend the Interactive Gambling Act 2001 to:

• prohibit an operator of a regulated interactive gambling service that is a wagering service from accepting or offering to accept payments from a customer of the service who is
  physically present in Australia using: a credit card; payments linked to a credit card (including digital wallets); or digital currency (such as cryptocurrency);
• create a new criminal offence and civil penalty provision related to the ban; and
• provide the Australian Communications and Media Authority (ACMA) with enhanced powers to enforce the ban and existing offences under the Act.

A regulated interactive gambling service covers wagering services (except for online in-play sports betting services and betting on the outcome of lotteries, which are prohibited under the Act) and lottery services (except for online instant or scratch lotteries, which are also prohibited).

The new criminal offence would not apply to a service for the conduct of a lottery or for the conduct of a game of mixed chance and skill. It would also not apply to face-to-face betting, which is outside the scope of the Act.

There will be a six month transitional period to give banks and wagering service providers time to prepare for and implement changes necessary to ensure compliance with the new requirements.

Related article

If you found this article helpful, then subscribe to our news emails to keep up to date and look at our video courses for in-depth training. Use the search box at the top right of this page or the categories list on the right hand side of this page to check for other articles on the same or related matters.

Author: David Jacobson
Principal, Bright Corporate Law
Email:
About David Jacobson
The information contained in this article is not legal advice. It is not to be relied upon as a full statement of the law. You should seek professional advice for your specific needs and circumstances before acting or relying on any of the content.