Banks Won’t Stop Casinos
By staff
Australian Banks have warned their Government that they will not help suppress online casino gaming within the antipodal nation. Although the Australian governments made it illegal for Australians to bet at online casinos, their banks say that it is not feasible for them to help enforce that ban. That makes it easy for Australian gamblers to log onto offshore casino sites and gamble unfettered using their Australian credit card.

In addition to the bank’s reluctance to cooperate, the Australian Bankers' Association have made a statement detailing their sentiment that they do not wish to bear the cost of any new financial transaction regulations.

Under current legislation online casino gaming is forbidden for Australian citizens, but online lotteries, sports betting and horse betting is not. An oddity in the legislation does however permit Australian casinos to open online casinos, provided that they exclude Australians. Whether this legislation actually reduces online gaming, or simply displaces it offshore is still being debated, but in the mean time it doesn’t look like the incumbent Howard Government is going to find their golden arrow in the banking system.

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