Sportsbet, one of the most popular betting companies in Australia, urges its country to make a move to prohibit credit card usage for gambling purposes.
The operator considers credit cards as a source of potential problems, but they hesitate to ban sportsbetting ads. Sportsbet believes that credit cards promote a “play now – pay later” culture, which could be catastrophic for players.
Last year, Responsible Wagering Australia announced action against credit cards, which Sportsbet believes is correct. Banning credit cards for gambling should be done urgently, as that will ensure the consumers’ financial protection.
Sportsbet stance on credit cards
Sportsbet believes that credit cards have a high risk of misusage by gamblers, insisting that governments act before it is too late. Previously, the Australian Banking Association has also voiced their opinion and concerns about this matter, saying that all future gambling legislation should involve blocking gambling operators from offering credit cards as a payment method.
However, blocking credit card payment options on gambling websites may challenge financial institutions. That is because it would also affect buying lottery tickets, which could not be possible through credit cards.
Sportsbet notes that Australians currently lose 1,276 AUD per person annually, and cutting off credit cards could decrease that number.
Sportsbet way of dealing with problematic gamblers
The company restricts deposit amounts if it sees a player exceeding the sum they can afford. They are also conducting frequent reviews to ensure that none of their users plays beyond their financial means. There has also been some talk about restricting gambling ads during sports events, but Sportsbet does not see that as problematic.
We will see how things develop soon, but the main advice is to stick with the principles of responsible gambling. There are plenty of free-to-play games at EkstraPoint, where you can play without risk.