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Australian Capital Territory Government Limits Cash Withdrawals in Gaming Clubs

The Australian Capital Territory Government is planning on putting a limit on how big a single withdrawal from EFTPOS machines can be. The new limit for such cash withdrawal is going to be A$200 per transaction.

There was a proposition about a total prohibition of cash transactions from Electronic Funds Transfer at Point of Sale machines placed in gaming clubs, but it was promptly disregarded and instead the government decided to simply regulate the amount of money which could be withdrawn. However, the players can return to the EFTPOS machines as many times as they want and no one can stop them from amassing the amount of money they need.

This is something they cannot regulate, but the operators of gaming clubs say that the time needed to go to the EFTPOS machine and receive money might affect their desire to continue their game. According to the new law, there will also have to be a single EFTPOS machine available per gaming club.

This psychological trick will help curb the need of some players to continue spending and potentially losing money on the poker machines placed in the club. Experience in such cases shows that the players use the time they need to receive money to reflect on whether they really need to continue playing and how this might affect their financial well-being. The complete ban on money transactions from EFTPOS would have led to an impact on other gaming patrons which have the desire to get money without paying the additional fee, which is usually associated with ATMs

There is still the opportunity to get up to A$250 per day from an ATM, which can also add up to their financial situation. The final decision of the government is going to take effect on 1st September. Perceived as a middle ground, the settlement was approved by Athol Chalmers, Chairman at the Canberra Community Clubs. He said that the change will have a positive effect on the gambling industry and the players in clubs, by limiting the harm as much as possible.

Laurie Brown is the person who opened the topic for discussion by the authorities of the Australian Capital Territory. He is one of those so-called problem players who confessed he had lost about A$230,000 on poker machines in Raiders clubs and when asked for a comment on the new limitations for withdrawal, he supported the idea as a constructive one. He said that there were times when he was withdrawing $3,000 or more in a matter of hours. The officials also discussed a bill which will reduce the taxes for clubs with poker machines which earn less than A$4 million per year. According to the bill, they will be cut by 50 percent.

 Author: Harrison Young

Harrison Young is an experienced writer, who started his career almost 8 years ago. Prior to joining our team at CasinoGamesPro, he worked as an editor for a small magazine.