Australia has recently hit the news by proposing a new law in the city. The new law is related to online gambling operators, as it has now ordered these operators to not offer their players credit lines. It is true that payers were earlier allowed to use credit lines and enjoy their favorite slots even when they did not have money to gamble. This new regulation is going to have a great impact on the online gambling industry of Australia.
Banned Credit Lines in the Online Gambling Industry
Australia is known for housing the finest casino operators such as Crown Bet, William Hill and Sportsbet. The entire Australian online gambling industry is estimated at around 41.4 billion. These casinos try their bit to differentiate themselves from others. They do this in order to survive in the cut throat and competitive gambling industry. Every operator endeavors to captivate the attention of more and more players by offering the most enticing welcome bonuses and promotional offers. They even offer free credits to enable players to try out casino games without making any deposit.
While talking about free credit lines, they are lifeline for the customers who are playing the casino games for the first time. It attracts them to become a member of the casino and gamble online. With free credits, the casino operators make huge profits and gain high popularity. However, the reason behind changing the free credit system is increasing problem gambling due to it. It’s not a compulsion for players to spend any penny at the online casinos. Hence, more and more players sign up at casinos and ultimately, get addicted to such games.
Details of National Self Exclusion List in the Online Gambling Industry
According to the Australia’s National Self Exclusion list, the casino operators will no longer be allowed to offer lines of credit to the players. As a result of this, they will have to make changes to their existing policies and software. This will allow players to set their own betting limit. In addition to this, it is known that these casino operators have been asked by the lawmakers to look into the issues of problem gambling. They can do this by appealing problem gamblers to register and impose a self-ban. This voluntary action at the part of such gamblers will prevent the situation to worsen.
While talking about the decisions of one of the important lawmakers, Alan Tudge, the Human Services Minister, various reforms to the online gambling industry have been called. In the year 2011, one of Alan’s constituents tried seeking his help. He did this after he lost $80,000 in credit due to his severe gambling addiction. The creditor who was left with no option to recover money, tried to seize his house. However, the new regulation is going to support the ones addicted to gambling.
Responsible Wagering in Australia and the Online Gambling Industry
The Australian gambling industry is all set to impose more restrictions in the coming months to encourage responsible wagering. Nonetheless, some like Tom Costello believe that this won’t alone address the issue until government takes much stronger measures. He highlights that the major issue includes gambling advertisements that entice people to play casino games.
He mentioned that such ads must not be encouraged. It’s similar to drugs that are not promoted due to their addictive tendencies. It simply means that the habits that tend to turn into an addiction are not to be encouraged at all. Without a doubt, Costello has a point in this and the Australian government is expected pay heed to him. Therefore, the case now rests with the concerned authorities. It is still to be witnessed how it will improve the gambling state-of-affairs in the entire nation.