Australian Banking Association has released a consultation paper on the use of
credit cards for gambling.
introduced a range of initiatives to help customers better manage their
financial arrangements and mitigate harms related to problem gambling –
technology solutions such as tools to help customers track their spending,
customer directed blocks, trained customer support teams, referrals to support
The ABA is
seeking views from the public on the place of a credit card and its use for
gambling. Currently credit cards can be used when gambling online, however when
in a gambling venue of a licenced venue or casino patrons cannot use credit
cards or make ATM cash advance on their credit card.
CEO of the
Australian Banking Association Anna Bligh said that banks had an important role
to play in helping tackle the issue of problem gambling and were seeking
feedback from the community.
Australians gambling is a form of entertainment and recreation, however for
some it can become a problem that potentially has devastating consequence for
the individual and their family,” Ms Bligh said.
industry we are currently assessing a number of options to help tackle problem
seeking feedback across the community on a number of important questions, which
will then help banks as they each consider further reform on this issue,” she
The ABA is
seeking community views on the following questions:
- What are the risks and concerns associated with
gambling with credit cards?
- Should the use of credit cards for gambling be
restricted or prohibited?
- If so, should the restriction or prohibition
apply to all forms of gambling?
- What are the potential consequences of
prohibiting or restricting the use of credit cards for gambling?
- Should there be a transition period if banks
choose to implement changes relating to credit cards?
For a copy of the consultation paper click here