ABA to Recommend Gambling Ban on All Credit Cards
We’ve reported recently that NAB is giving players the option to restrict online gambling transactions. Now it appears that the Australian Banking Association wants to take things much further. According to reports, the ABA is looking to convince banks in Australia to block all credit card transactions for both online gambling transactions and lottery ticket sales.
While the block on online gambling is nothing new, the call for a block on lottery sales is mobilizing lottery retailers to defend the industry.
ABA Wants to Block Online Gambling and Lottery Sales
The American Banking Association is now considering whether to recommend that Australian banks ban all credit card holdings from depositing at online casinos or making live lottery ticket sales. This move is the latest by Australian authorities to try and block various forms of gambling in the country.
Banks that follow the recommendations would then block the ability to deposit using a credit card. They would also block a player from being able to buy lottery tickets at newsagents anywhere in Australia.
The lotto ban is a bit more problematic than the online gambling ban. A block on credit cards would cut deep into sales. Newsagents are already speaking out regarding a potential ban, claiming that lotto tickets are “low harm” when you compare it to online casino gambling and other forms of iGaming.
Lotto Ban May Be Difficult
The ban for online gambling is not that difficult to institute. However, doing the same for lottery ticket sales may prove difficult. According to ABA CEO Anna Bligh, it will be tough to institute such a ban because you would have to block the merchant code of newsagents.
According to Bligh, “The only way that you can actually do that technically is that you put a stop on the merchant code for those businesses that are gambling businesses.
“Merchant codes are attached to a business on the basis of their primary purpose. The primary purpose of most newsagents in Australia is not gambling.”
Newsagents sell a wide variety of items and when someone makes a purchase, the merchant code that transmits states the nature of the business. It doesn’t tell the types of items sold. Blocking newsagents would mean blocking the code, meaning that you wouldn’t be able to buy anything from a newsagent with a credit card.
Naturally, such a block would be devastating for newsagents, so it is very unlikely that a lotto ban will happen. The only way we could see it happen is if banks require newsagents to hold separate codes for certain transactions. For example, a code for lottery ticket sales.
Some Banks Already Block Gambling
As you already know, several banks in Australia already block transactions for online casinos. Presently, Suncorp, Bank of Queensland, Citibank, and Macquarie Bank have instituted a block on credit card deposits at online casinos. However, these blocks do not include lottery ticket sales.
Keep in mind that the recommendations are not “law.” They are merely recommendations that banks can take under advisement. Some banks may opt to go with the recommendations, while others may give their customers the freedom to choose.
In the meantime, we recommend that you investigate alternative methods for making online gambling deposits. Cryptocurrency is a viable option to fund your online gambling accounts. You can also use NeoSurf at many online casinos in Australia.
Note that any potential bans are still a ways away, so you have time to prepare. Hopefully, banks will largely ignore the ABA recommendations. However, since lawmakers and other authorities are determined to limit the rights of Aussie citizens, don’t be surprised if additional blocks on online gambling are in the near future.
Reducing Your Variance With The 1-3-2-6 Betting System
Continuing our look at positive progression betting strategies, this week we will look at the 1-3-2-6 system. The 1-3-2-6 betting system is...