Will Aussies play pokies now funding the casino with Credit card or Banknotes 0 Likes

As the Australian government is regulating the pokies in the country, a new debate is now heating up to put limits on pokies play. For this not only states and territories in Australia are involved but even banks are making decisions to impact Aussies and their rights on pokies. The question is will Aussies play pokies now funding the casino with the Credit card or Banknotes?

Credit cards or Banknotes

South Australian lawmakers decided to include a controversial measure in their list of proposed gambling reforms. They wanted the SA State Parliament to consider allowing gamblers to use banknotes in pokies instead of just coins. This measure would put South Australia in line with other states and with New Zealand. It would also allow the pokies to be more technologically advanced.

Opponents of the measure pointed to massive donations to lawmakers from the Australian Hotels Association (AHA), a group that wants people to be able to more easily pay to play the pokies. The AHA did admit that it would help grow their businesses.

Recently, the Australia Institute released the results of a public survey and study showed overwhelming opposition to banknotes in pokies.

Researchers conducted a survey of 503 South Australians in November 2019. The most significant result was that 80% — four in five – of South Australians believe that allowing players to use banknotes in machines would increase the likelihood of gambling addiction and the level of gambling harm overall.

An even higher number of 82% in the result showed that they want pokies to accept coins only or even for the machines to be banned altogether. These results were consistent across genders, age groups, economic status and incomes, and voting party affiliation.

According to Australia Institute SA Director Noah Schultz-Byard, the opposition to the proposed governmental reform, is clear and strong. “South Australians are overwhelmingly convinced that these reforms will have a negative effect on the community,”. “Only 13% of South Australians support the government’s plan while more than 40% want to see poker machines banned outright.”

Does ABA want pokies to play with the use of credit cards?

Throughout 2019, Australian financial institutions have been mulling the use of credit cards for gambling. Macquarie became the first to do it this summer in a new policy effective July 1, 2019.

Macquarie decided to block all credit card transactions registered with gambling or lottery merchant codes. Also, in addition, the bank capped cash advance balances at $1,000, effective at the end of August 2019.

The bank made the decision to be proactive in “helping customers manage their finances effectively and avoid problematic credit card debt.” He added that these goals are in line with the company’s overall commitment to the financial well-being of its customers. Other financial institutions began to consider similar moves but looked to the Australian Banking Association for guidance. That prompted the ABA to put together a consultation paper and find out what customers and the public at large want to see.

The ABA released the consultation paper on December 5 2019, the purpose of which is to seek views from the public about credit card use with regard to gambling. Banks want to take their role in minimizing gambling harm seriously but want to do so in conjunction with public support. “As an industry banks are currently assessing a number of options to help tackle problem gambling. They are seeking feedback across the community on a number of important questions, which will then help banks as they consider further reform on this issue.”

The questions in the consultation document are as follows:

·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 this submissions will be accepted through the end of the day on March 4, 2020.

The current state of regulatory requirements allows credit card used for some forms of gambling and not for others.

This means you can use credit cards for online casinos, lotteries online, and betting apps but at real land casinos and poker machines in clubs and licensed venues, High roller rooms in casinos or for horse racing and greyhound racing tracks and TAB outlets, credit cards will not be allowed. Finally the above-mentioned survey results will be used to decide if the ABA should take a stance on all forms of gambling with relation to credit card use. (Source: Casino news)