This new series will prepare you for 2024’s biggest show with the most recent developments from 2023.
This year, gambling with credit has been one of the most discussed payment topics. It’s more accurate to say that we are trying to stop it.
The efforts to prohibit credit card gambling intensified towards the end 2023. The Australian government released legislation in September titled the Interactive Gambling Amendment Bill. Credit card gambling was banned at all land-based casinos.
The bill also sought to penalize operators who do not comply with the ban. The bill stipulated that the fine could reach up to AU$234,750 (PS120,462/EUR140,014/US$150,467).
Last week, the Australian senate approved this bill. The bill also grants the Australian Communications and Media Authority more power. After a transitional period of six months, the ACMA is responsible for enforcing new penalties.
In Sweden, in November the gambling regulator Spelinspektionen demanded a complete ban on gambling with credit cards. In response to an investigation by the government into risky loans, Spelinspektionen called for a complete ban on credit card gambling in November. Spelinspektionen explained its position in accordance with the Gambling Act of this country. The Act forbids gambling operators to encourage players to borrow funds to gamble.
Payment Blocking
In 2023, a few payment blocking incidents were also reported in Scandinavia.
Spelinspektionen was given new powers by the Swedish Government in May to combat illegal gambling. In December 2022, a bill outlined the new powers that came into force on July 1, 2018. The amendments were said to make it easier for regulators to stop payments by the government.
Lotteritilsynet, the Norwegian regulator of gambling activity since 2023, has monitored unlicensed activities. It reported that in January, the number of bank contacts with their customers about illegal gambling activities had increased.
According to a study conducted by Lotteritilsynet, eight of ten banks employ measures for contacting customers who may be involved in illegal gambling.
The Norwegian regulator announced in September that nine banks would be monitored. The banks would be monitored to ensure that they were following the ban against processing transactions by illegal operators. In section 5 of Gambling Act, banks are prohibited from allowing deposits or withdrawals on unlicensed websites.
A regulator may order that banks block specific transactions.
