Aussie Bookmaker Sites Accepting Bitcoin Betting
If you’re looking for the best Bitcoin betting sites in Australia, then this page will surely help you in the right direction! The rise of Bitcoin as well as the closure of some European casino sites in Australia has paved way for many Aussies to seek alternative types betting sites online, ones which accept the all new growing (anonymous) trend of Bitcoins.
What is Bitcoin?
Bitcoin (BTC) is a new currency that was created in 2009 by an unknown person using the alias Satoshi Nakamoto. The crypto-currencies’ transactions are made with no middle men, i.e. no banks. The great thing about BTC is that it’s ll online and therefore there are low or no transaction fees at all. Bitcoins have obviously reduced overheads for online casino and betting sites, often mean that casinos can (if they choose to) offer their games with a lower house edge or offer more rewards to each player in the form of bonuses and free spins.
Bitcoins can be used anonymously and make international payments easy and cheap because they are not tied to any country nor are they subject to any regulation. Bitcoins are stored in a digital wallet of which there are many different kinds available; it’s entirely up to you which you use. These wallets exist either in the cloud or on a computer. Think of a digital wallet like a virtual bank account that allows users to send or receive Bitcoins. You can pay for goods or save your money in the wallet as an investment as the price of Bitcoin can rise (yet also fall).
Whether you’ve dabbled and bought Bitcoins yourself for an investment purpose or use them to buy items online, I think we can all agree that using Bitcoin as a payment method makes things very, very easy. And this is one of the perks why playing at Bitcoin betting sites is becoming more and more popular.
Pros of Play at Bitcoin Betting Sites Australia
- Fortunately, the general trend seems to be going in the direction of favouring Bitcoin betting sites, with most of the major online betting sites having already integrated Bitcoin so that you are able to not only deposit, but withdrawal entirely in Bitcoins.
- Therefore, you should not have any issues in finding Australian betting sites which accept Bitcoins. You can find a list of the best Bitcoin gambling sites blow, but we’ll get to that in a moment. As long as you are comfortable and know how to get started and use Bitcoin, then there aren’t that many cons of using Bitcoins as a payment method – only pros.
- Of course, the obvious con could be that the value or price of Bitcoin falls to a lower value than what you bought at but that’s a trade-off – it’s usually stable and could easily (and most of the time does) go in the other direction.
How to Bet Using Bitcoins
- For those of you who are new to Bitcoin, we suggest that it’s a good idea to do your research before you get started. Anyone who uses Bitcoin in a regular basis will tell you that you need to understand the fundamentals first, so have a look around and read up on guides so you know exactly how it works.
- Also we recommend you to read any terms and conditions at casino and betting sites before you take bonuses and make sure know their cash out policy before you get started. Often, it’s the Bitcoin betting sites which are much easier to cash in and cash out but that doesn’t mean you should skip the main terms and conditions. It’s also wise to check that a casino supports the wallet or platform you use for your Bitcoin storing.
Bitcoin Gambling and Taxes
Much like any gambling winnings, when you win at online casino using Bitcoin, the money is not taxable. Tax authorities don’t normally tax betting and gambling because it is usually not classed as trading income and Bitcoin isn't classed or even considered as legal tender and therefore avoid taxation. We would like to add however in light of this, that we are not tax laywers or tax professionals so we always recommend you to speak to a professional regarding your income in your own jurisdiction.
Best Bitcoin Betting Sites for Australian Real Money Players
With that said, above you will find the most Australian friendly Bitcoin betting and gambling sites. Some are Bitcoin only, and some offer both traditional and also Bitcoin banking options. Each casino is owned and operated by trusted, licensed and well reputed iGaming company. These companies have been around for well over a decade.
They each offer a fantastic range of casino games plus some great value when it comes to bonuses and promotions. Remember – that’s one of the best points about Bitcoin gambling sites – because of the lower overheads the casino has thanks to Bitcoin, you will be able to get much more value back as a player!
Make sure you check back as we are adding new Bitcoin betting sites Australia on a regular basis. We believe that Bitcoin will soon become a popular way to deposit and withdraw at gambling sites and soon all of the major gambling sites around the world will accept this fast growing crypto currency as a main deposit method!