Australia has introduced compulsory pre-verification for players registering for an online wagering account before they can make transactions through it.
Prior to this, there was a 72-hour window to perform identity verification on the player’s age and identity.
Kai Cantwell, CEO of Responsible Wagering Australia, said that this would help wagering service providers to identify underage individuals and those who have self-excluded through BetStop.
“This measure is also an important mechanism to mitigate money laundering and terrorism financing risks,” he said.
“RWA members already instantly verify more than 90 per cent of customers’ identities and ages, so this will bring the entire industry up to the standard that we already operate at.
“RWA has been a strong supporter of pre-verification and is pleased the Commonwealth Government has adopted it.
“Pre-verification provides online wagering operators the ability to continue to advertise the adoption of safer gambling tools, with customers prompted to set a deposit limit upon registration.”
RWA members provide a range of tools to ensure people can gamble safely, many of which have been adopted by the Commonwealth Government as part of the National Consumer Protection Framework.
“The NCPF is expected to be evaluated shortly and we look forward to engaging in this process to ensure that consumer protections are fit-for-purpose and help Australians stay in control of their gambling behaviour,” Mr Cantwell said.
“Online wagering providers offer the highest level of safety to consumers, with the real-time collection of individual customer data allowing providers to intervene early when they identify unusual or concerning betting behaviour.
“However, to effectively reduce gambling harm, regulation must be applied consistently across all forms of gambling, not just online.”