Tabcorp Won't Resist If Credit Cards for Online Gambling Are Banned
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Tabcorp supports a ban on credit cards as a payment method in Australia. The company believes that a single national wagering regulator would be a better solution than a possible ban. Responsible Wagering Australia is against the potential ban as it thinks there's no connection between problem gambling and using credit card to deposit and withdraw money at online casinos. The UK banned credit Cards in 2020. Foreign online gambling operators paid around $1 billion in various taxes in Northern Territory.
COVID-19 caused a lot of changes in the gambling industry. Many players have switched to betting and gambling online. Tabcorp urges a transition period of a year for the introduction of credit card ban. The lottery would be the most affected category as over 40% of Australians use credit cards to participate in lottery activities. MP Andrew Wallace is an advocate of the ban on credit-card gambling. He believes that it will result in interest fees and debts.
