Tabcorp Does Not Intend to Fight Proposed Credit Card Ban but Insists for National Gambling Watchdog
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Tabcorp does not intend to oppose a potential ban on credit card use for gambling transactions in Australia. TabcorP wants the Commonwealth to take over the regulation of gambling. The trade body representing overseas-owned gambling companies, Responsible Wagering Australia, is against the ban. The rights of licensing and regulation have historically been given to state and territory governments. A lot of foreign online-only gambling operators are licensed in the Northern Territory. They have agreed to pay point of consumption taxes and product fees of over AU$1 billion to the states.
Tabcorp believes a harmonisation of the regulatory regime of gambling services would have a better impact on the sector than the implementation of a credit card ban. TabcorP lost ground to online competitors in the past year. The company closed some brick-and-mortar gambling venues during the coronavirus pandemic. According to the Australian Gambling Research Centre, 62% of punters gambled online before the pandemics and 78% during it.
