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‘Gambling is our blindspot’: Calls for big four banks to ban gambling with credit cards

Natalie Peters & Erin Molan

There are calls for the big four banks to take strong action against gambling after Macquarie Group announced its credit cards can no longer be used in gambling transactions.

Director of the Alliance for Gambling Reform Tim Costello has commended the ban which would extend to sport betting transactions.

Macquarie will block all credit card transactions classified as gambling under the merchant code.

Mr Costello tells Natalie Peters and Erin Molan now is the time for the big four banks to follow suit.

“Australia has the greatest gambling losses of any country in the world.

“Gambling in Australia is our blindspot… we have really allowed the gambling industry to get out of control.

“It’s always impressive when a bank decides its bottom line is not more important than social harm.”

Click PLAY to hear the full interview

Natalie Peters & Erin Molan
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