May 22, 2019
The state of Victoria will become the first Australian state to adopt a number of new betting rules when the National Consumer Protection Framework (“NCPF“) goes live on Sunday 26 May 2019.
The Andrews Labor Government said that gambling was moving increasingly to apps and websites, and new rules were necessary to keep up with technological advancements, while also providing consumers with autonomy to make informed decisions about their gambling.
The new betting rules will:
- ban wagering service providers from offering credit, vouchers or other rewards to an account holder as an incentive to refer their family or friends to open a betting account;
- stop operators from providing complementary or free bets on the condition that account holders can only use the winnings to continue to bet, rather than giving customers an option to withdraw the funds;
- require consumers to opt-in to receive direct marketing from a wagering service provider;
- provide consumers with simple and easy-to-use tools to set limits on the amount of money that can be deposited into their betting accounts; and
- ensure consumers can easily close their betting account if they choose to do so, while also restricting gambling providers from offering credit or other rewards to encourage consumers to keep their betting account open.
According to Australia’s federal minister for families and social services, Paul Fletcher, the NCPF will apply to around 2.5 million active online wagering accounts, or one million people in Australia.