Good Morning. Credit card deposits into online gaming accounts in Australia could account for about a third of total deposits and a general ban would have a considerable impact in the industry, consultant Geoff Wohlsen, told AGB in an interview. However, the ban could still be challenged successfully to the country’s High Court, the gaming industry veteran added. Meanwhile, stocks received a boost as the US Federal Reserve announced a stop to almost 2 years of constant interest rate hikes, including several gaming company stocks.
What you need to know
- A ban on use of credit cards for online gambling in Australia could still be challenged successfully at the country’s High Court, consultant Geoff Wohlsen, told AGB.
- Gambling stocks received a boost as the US Federal Reserve signaled that interest rate cuts in 2024 would stop and even be reversed.
On the radar
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AGB Intelligence
FACE TO FACE
The challenges in front of the Australian gaming market
Consultant and gaming industry veteran, Geoff Wohlsen, debated the state of Australian gaming regulation with AGB, including the impact of a ban on credit card deposits into online gaming accounts. With credit cards possibly accounting for a third of total deposits, the curb could have a considerable impact in the industry. Still, an appeal could be successfully filed to the country’s High Court.
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