- The basics of crypto gambling in Australia
- The legality of crypto gambling in Australia
- How easy is it to find crypto gambling sites in Australia?
- Crypto gambling in Australia and safety
- Crypto gambling in Australia vs fiat currency gambling in Australia
- Are crypto gambling sites in Australia right for you?
- Conclusion: Crypto gambling in Australia opens up more options
- Crypto betting in Australia FAQ
The basics of crypto gambling in Australia
We said this would be a comprehensive guide – that means answering as many questions as we think could be relevant when finding your ideal crypto gambling sites in Australia. With that in mind, let’s start off with the absolute basics.
First off, cryptocurrencies: what are they? They’re essentially a digital currency, usually based on blockchain technology and decentralized. This means they’re free from any central authority or government.
There are lots of different kinds of cryptocurrencies, with the most popular being Bitcoin. Litecoin, Ethereum, Binance Coin and Dogecoin provide some other popular alternatives.
Crypto is the same whether we’re talking about crypto gambling Canada or Australia. They are the same everywhere and are available internationally. What we mean by crypto betting sites in Australia specifically is any online operator – wherever it may be – that allows you to bet online there using your cryptocurrencies. In terms of the basics, those are the most important things to know.
The legality of crypto gambling in Australia
When it comes to anything to do with gambling in Australia, it’s best to break it down. Let’s begin with the simple stuff: cryptocurrencies are legal in Australia, as are crypto exchanges. They were declared legal in 2017, so this should make it easy for you to buy and use crypto.
The only complicated caveat is with regards to taxes and cryptocurrency. Similar to the situation with crypto gambling taxes Canada, gambling is typically tax free in Australia. However, there are more general tax implications to trading with crypto.
Moving onto the legality of gambling in Australia. It’s very complicated, and there are many gray areas. Some things are illegal according to the Interactive Gambling Act of 2001, including casino and live betting on sports. However, accessing gambling services is not an offense. More broadly available is pre-match betting.
In other words, sports betting is generally considered to be legal, but all bets must be accepted before an event or market begins. That’s why this guide on all things cryptocurrency and betting related in Australia will be focused on advice for sports gambling primarily.
They must also be licensed, such as through the Northern Territory Racing Commission. You should typically be able to find any relevant information on licenses at the bottom of the homepage of your preferred operator.
So, to put it simply, cryptocurrencies are legal, and some forms of gambling are legal. This includes pre-match sports betting, so long as they’re properly licensed by a relevant local authority.
The five best crypto gambling sites
How easy is it to find crypto gambling sites in Australia?
One misconception about crypto gambling in Australia is that it’s tough to find good crypto betting sites in this part of the world. That’s simply not true. What is the case, though, is that cryptocurrency betting sites aren’t quite as common in Australia as they are in some parts of the world. For instance, crypto gambling in UK is more common, as gambling laws are more relaxed there.
Nonetheless, fewer options does not mean your ideal crypto betting experience isn’t out there. The number of gambling options for cryptocurrency users in Australia is enormous – both for desktop and mobile users. There is more than enough to satisfy even the most discerning of online betting fans in our opinion.
Crypto gambling in Australia and safety
There are no key safety concerns which we can think of for crypto operators that wouldn’t also be true of any fiat currency betting sites. Keep in mind too that nowadays, it’s not unusual for sites to offer both payment options.
However, the additional security benefits of cryptocurrencies do not mean that you can simply ignore other safety considerations. All the usual things you would need to take into account – including licensing, encryption, fair terms and conditions, responsible gaming policy, privacy policy and reputation – all still need to be considered when using crypto gambling sites in Australia. It’s as safe to bet with the cryptocurrency as it would be the Australian dollar, but a little caution and research is always recommended.
Crypto gambling in Australia vs fiat currency gambling in Australia
It’s one thing to know that there are plenty of crypto operators available for you to safely use. However, that’s also the case for fiat currency betting sites. So, why should you actually make the switch?
Here, we’ll be breaking down five positives that crypto betting in Australia has over betting with fiat currencies. And, in the interest of fairness and balance, we’ll also highlight some positive points for the more traditional payment option as well.
Five positive points for crypto gambling in Australia
Three positive points for fiat currency gambling in Australia
To be clear, we don’t think that betting with cryptocurrencies is especially complicated. We know that for a lot of people, that’s a concern and we can assure you that the process of buying, storing and then transferring cryptocurrencies into a betting account is really straightforward.
That said, it cannot be denied that it does require a couple of extra steps. So, if that’s something you want to avoid – even though we think the benefits outweigh the effort – then this is an edge that fiat currencies currently have on cryptocurrencies. However, if you already have cryptocurrencies, then the transfer process is so simple, we’d barely consider this to be a factor.
Never underestimate the power of familiarity. While cryptos are making their way more and more onto the big household names of the gambling industry, for many people, crypto gambling sites in Australia will mean brand new betting sites. And they might be excellent. In fact, we know that many of them are. But perhaps you just already like the betting site you’re with because you know it and thus, there’s a level of comfort and enjoyment to that fact in itself.
While politics and the economy can all impact fiat currencies and their value, it’s fair to say that, generally speaking, fiat currencies have fewer fluctuations than cryptocurrencies. This doesn’t have much to do with gambling specifically but it’s worth taking into account.
Are crypto gambling sites in Australia right for you?
Crypto gambling in Australia will be of huge benefit to so many people reading this. But we’re all different, so if you’re struggling to decide whether it might be right for you, there are a few key considerations that could help.
If you hold cryptocurrency, and wish to use it to gamble, we would say go for it. There’s a great selection of crypto betting sites out there and if you already have cryptocoins ready to go, the transfer process barely takes any additional effort. You get more promotions, more betting sites, more choice and more quality. It’s worth pointing out too that you can sign up to as many betting sites as you want. So, if there are operators that you currently enjoy betting with, well, you won’t have to give them up.
If you do not hold cryptocurrency, then the question is whether you’re planning to in the near future. And if so, do you mind the couple of extra steps that requires? If you have no desire to use cryptocurrency, even with its betting benefits, then you may decide it ‘s best for you to stick to fiat currencies.
Conclusion: Crypto gambling in Australia opens up more options
Almost every key negative of crypto gambling sites in Australia has nothing to do with cryptocurrencies themselves but are rather a result of strict legislation – which is also just as much of an issue if you’re using fiat currencies. There are some disadvantages to using cryptos to bet in Australia – some small inconveniences and considerations. But they are, in our opinion, entirely outweighed by the many positives that crypto betting in Australia has to offer.
Essentially, cryptos allow you to get more of what already makes betting online in Australia so great. Top that off with the fact that there’s no reason you can’t have your cake and eat it by using both cryptos and fiat currencies, and we’d say that crypto gambling in Australia is in fantastic health. It looks to have a bright future, and will be perfect for many of our readers.
