Australia Enforces Ban on Crypto and Credit Cards for Online Betting

[Stompix]

What you have mentioned are limitations only, but what Australia wants to do is to ban completely. It will be fair to say then that "bars agreed to work only on even day", "pubs and restaurants agreed not to server smokers at all", "tv stations agreed to decrease to decrease ads time twice".

Ladenschlussgesetz from 1960
Retail stores are closed always on Sundays and Holidays, which worked pretty well till today.
As for the degree of advertising, the Tobacco industry was spending more than 30 million a day on ads worldwide before the incoming bans, do you think it was that easy for TV stations to give up that? Formula 1 had 300 million in revenue from cigarette ads, remember the iconic Marlboro Ferrari?
You're biased here thinking that well, it's banks, banks are nasty so now ay they're going to do this..well, they will, because you forget something even if it's like you and they will spend this on getting gambling money or they will spend on traveling or something else, it's still money spent!

Ok, banks dont want to get any close to gambling. Dont you think their credit sector would not feel any change than?

Well, math, credit card purchases are 420 billion a year, and the entire gambling industry in Australia is 24 billion, but we have to cut lotteries and real-life casinos from this so it's 8 billion assuming everything is on credit (which is not) it would be 1.9%. Let's say half of it was used on credit and half on debit and other means and it's just 1%.

Anyway, what stops me from shopping offline and immediately selling everything to pawnshop? ATM with deposit options is around every corner.

Nothing, but do you think it's that easy?
Shops have hours as you won't be pawning things from 7/11, so 8 hours at least a day maybe even 10 when you're safe from doing something stupid.  Plus you're really underestimating impulses and how easily those fade away, the adrenaline from that loss will be gone by the time you reach the pawnshop!

Seriously, you're trying to find any possible fault in this gasping at straws probably because it's coming from the government, well, surprise, they do good things too and I consider this one pretty good! It's not preventing you from spending money, it's preventing you from spending money you don't have, if it helps 100 people a year it will still be a good thing cause I don't see any bad thing coming from this!

[dkbit98]

it isn't so bad for a government to prevent their people to gamble before it becomes a nationwide problem that even the teens are downloading sports betting app of google play. 

I will ask again, when did people of Australia or any other country asked for this babysitter?
They destroyed so many lives and business in last few years in Australia and other countries, and you think they care about safety of people with online gambling... 
One of the reasons they are banning online gambling is because they can't tax it like they want, especially with cryptocurrencies.
Simple.

However, I wouldn't be surprised to hear that banks were basically forced to go along with this, because it's the Australian government calling the shots here.

I think that banks have more power than puppet governments for a long time.

[Captain Corporate]

They do have a point, stake will not like this (as far as I can remember the owners were from there) but they do have a point. Crypto is a different one, I think that's more about money laundering, a money going into casino is rarely followed up, and even if you try, usually you need to make it preventive, not find out later on because you would be too late. Secondly, credit card makes no sense, you are gambling with money that you do not even have, and I think that has to be something quite important, we can't really make it work any other way, you need to use cash, as in the money you have so you do not go into debt.

[bitbit97]

Seriously, you're trying to find any possible fault in this gasping at straws probably because it's coming from the government, well, surprise, they do good things too and I consider this one pretty good! It's not preventing you from spending money, it's preventing you from spending money you don't have, if it helps 100 people a year it will still be a good thing cause I don't see any bad thing coming from this!

I simply really surprised how easy (if so) banks agreed to all that. I am looking on this from business view - you have a product, you earn from it, now due to someone's reckless actions you are going to earn less. And with that ban, every gambler that used credit card for gambling is punished. Dont you think this isnt fair? Without a doubt this is a solution to a gambling problem, but this solution is suitable only for a % of gamblers. Like with that Marlboro example you gave. I am not a smoker. If I see Marlbolo ads, nothing changes for me, but 300 millions, F1 competition surely be different.

[Faisal2202]

The full news state it was part of 31 suggestions regarding gambling which can be seen here. Although i have feeling government also use this chance to limit cryptocurrency adaption. Your opinion is greatly appreciated.

I don't think this is done by the Australian government to limit the adoption of crypto because they have many other options to do that. I think there must be some severe cases of gambling addiction would have been recorded and to take action against such addicts they banned the usage of crypto and credit cards only for betting.

So banning the use of BTC only for betting is not going to limit the adoption of crypto as a whole because we all know crypto is not only providing the services of gambling. TBH this must be a good step toward gambling addiction. As such addiction is not a good thing and we all must have seen some addicts as well. For example, I have seen a lot of videos of Neymar in which they say he is a gambling addict now, and I saw in one video that it was his Daughter HBD and he was gambling while they were cutting the cake. This really upsets me as well. Gambling with borrowed money (using credit cards) is going to bring a lot of pressure for people and that leads to disaster.