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David Schwarz: More Restrictions on Credit Betting

21 June 2011 by admin

australia_worldFor those who are against gambling, credit betting is one of the biggest evils. Actually, even many gambling proponents aren’t a fan of betting on credit. Those who want to ban all credit betting in Australia, though, have a new celebrity ally.

David Schwarz, a former star with the Australian Football League (AFL) recently talked about the risks of credit betting. He said that there should tougher credit checks before any credit can be extended. In addition, there needs to be assessments to determine whether a punter is a problem gambler. Schwarz stopped short of calling for a complete ban of credit betting, though it seemed clear that he would favor such an outcome. Many people are seeking exactly that.

The issue has become a hot topic in Australia due to a case in the federal court regarding a Victoria man. The man, who has not been identified, was lent $80,000 in gambling credits by Sportsbet. The man says he cannot repay the debt and will lose his home because of it. The man says he is a problem gambler and that Sportsbet offered him $5,000 in “free” credit. After he lost that, they offered him another $10,000 and then two more credit installments of $30,000 and $40,000. The man lost it all.

Alan Tudge, a member of the Australian House of Representatives, has raised the issue in Parliament of placing bigger restrictions on credit betting. Credit betting is already banned in Victoria, but is allowed in the Northern Territory. Tudge said that “gambling with credit is primarily an activity undertaken by problem gamblers.”

He is right. Maintaining a strict gambling budget and only wagering with money you can afford to lose is an important part of responsible online gambling. If you are gambling with credit, you are not being responsible with your money. Schwarz once had a gambling problem himself and is now helping other AFL players deal with gambling problems.

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