Online casino players have a wide range of reliable, trustworthy payment options to use when making deposits and withdrawals at online casinos. Some of these options are more convenient than others. Players usually prefer using e-wallets such as Skrill, PayPal, and Neteller since in most cases deposits and withdrawals requested using these options are processed instantaneously without any commission fees. Besides Skrill and Neteller, the popularity of vouchers and prepaid cards such as PaySafe Card and AstroPay Card has been on the rise.
However, not all online casinos operational in the industry support e-wallets and prepaid cards but most online casinos do accept Visa, MasterCard, Maestro, and other debit and credit cards. Using credit and debit cards is popular across the globe but particularly in the United States, Europe, and Australia. In fact, credit and debit cards are the leading payment option for online casino players in Spain, Belgium, the United Kingdom, and France where around 50% of all players use MasterCard, Visa, and other supported credit and debit cards.
Online Casinos Supporting Debit and Credit Card Deposits and Withdrawals
Credit and debit cards have become the most used payment option in the world not only among online casino players but also among other people who use their credit and debit cards to pay for bills, pay for goods, and shop online. Credit and debit cards allow very easy and hassle-free deposits and withdrawals and players do not have to worry about the safety of their funds. Credit and debit cards are accepted by almost all online casinos and usually, deposits made using these options are processed instantly. When it comes to withdrawing with a credit or debit card, players usually receive their winnings within a couple of business days.
All of the best, most renowned online casinos operating in the industry support credit and debit cards including those serving Australian players. As outlined here, the best betting sites in Australia are highly renowned, reputable iGaming platforms that offer Aussie bettors the most rewarding bonuses and promotions with a variety of other perks and benefits. The best betting sites operating in the country also employ the most advanced security measures and work with the best encryption companies such as Comodo, RapidSSL, and Symantec to ensure the safety of every bettor’s funds and personal data.
Besides accepting Visa and MasterCard credit and debit cards, Australian betting sites also accept a variety of other payment options including ApplePay, Skrill, Neteller, PaySafe Card, PayPal, and POLi, among many others. While online casino players and sports bettors in Australia and other iGaming markets can still use credit cards to fund their accounts and get their winnings, this is about to change in many countries. Several countries have banned using credit cards for online betting and many other countries plan to do the same. Therefore, using credits cards for online gambling activities may become a thing of the past very soon.
Credit Card Ban and Its Impact on the Online Gambling Industry
As mentioned in the previous section, there are many advantages of using credit and debit cards in the iGaming industry and one of these is their accessibility. Practically every online casino out there accepts these payment services. Getting a debit card is never an issue and everyone can easily apply for a debit card at his or her local bank. Considering these benefits, there is no wonder why these payment options are preferred by online bettors around the globe.
According to this report by FIS Global, around 27% of North American bettors use credit cards for online gambling. E-wallet services and debit cards are also very popular among North American bettors while only 2% of them use prepaid payment options to bet online. In Australia and other jurisdictions, e-wallet services such as Skrill and Neteller are used the most alongside credit and debit cards. However, Aussie players will most likely have to use services other than credit cards to play online considering Australian senators will probably ban the use of Visa and other credit cards for online gambling.
For months now, gambling reform groups in Australia alongside financial counselors have been working on banning the use of credit cards in the country for gambling and Australian senators have finally heard their pleas. The Interactive Gambling Amendment Bill from 2020 that prohibits using credit cards for online gambling is already there and it could be enforced very soon. Under the terms and conditions of the Interactive Gambling Amendment Bill 2020, the country will follow the footsteps of the UK which has already banned using credit cards for gambling.
Major supporters of the Interactive Gambling Amendment Bill 2020 agree that under the new terms and conditions regarding the Australian online gambling industry, many issues related to problem gambling would be solved. Since problem gamblers could no longer spend money, they do not have. The Bill is also supported by the Alliance for Gambling Reform and Mark Zirnsak told a local news outlet that the Bill with new terms and conditions would be one of the most significant steps forward in properly addressing and preventing gambling-related harms.
Lauren Levine who works for Financial Counselling Australia also welcomes these changes as well as Andrew Whitecross. Andrew Whitecross works for the Australian Institute of Family Studies and in one of his official statements, he suggested the new Bill will not limit iGaming opportunities but it would prevent problem gambling and associated detrimental effects. The next steps the Committee will make will be revealed on the 8th of October.
The credit card ban in Australia will definitely impact the online gambling industry to some degree. Leading sports betting operators in Australia such as Tabcorp will not oppose the credit card ban since the Bill will most certainly drive positive changes where changes are needed. One of the most positive changes the credit card ban will bring in the industry is related to properly and promptly addressing the problem gambling issue.
The credit card ban will also protect and prevent vulnerable gamblers from racking up huge debts. As for Australian sports betting sites, the credit card ban will not affect their services and they will remain operational as usual since they can offer a great variety of other payment methods that are equally convenient, easy to use, and safe as credit cards. All things considered, the revised online gambling environment is rather unlikely to negatively affect the online gambling industry.