Bitcoin (BTC) is a new currency created in 2009 by an unknown person using the alias Satoshi Nakamoto. The crypto-currencies transactions are made with no middlemen, i.e. no banks. The great thing about BTC is that it’s all online; therefore, there are low or no transaction fees. Bitcoins have obviously reduced overheads for online casino and bet sites, which 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.
If you’re looking for the best Bitcoin betting sites in Australia and gambling sites you can trust, 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 most definitely paved the way for many Aussies to seek alternative types betting sites online, especially ones which accept the all-new growing (anonymous) trend of Bitcoins.
Bitcoins can be used anonymously and make international payments easy and cheap because they are not tied to any country or subject to any regulation. Bitcoins are stored in a digital wallet, of which many different kinds are 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 as 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 for an investment purposes or use them to buy items online, 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.
Much like any gambling winnings, the money is not taxable when you win at gambling sites using cryptocurrency. Tax authorities don’t normally tax betting and gambling because it is usually not classed as trading income. Cryptocurrency isn't classed or even considered legal tender and therefore avoids taxation. We would like to add however in light of this, that we are not tax lawyers or tax professionals so we always recommend you to speak to a professional regarding your income in your own jurisdiction.
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 new casino site is owned and operated by a trusted, licensed, 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 regarding bonuses and promotions. Remember – that’s one of the best points about Bitcoin gambling sites – because of the casino's lower overheads, 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 in Australia regularly. 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 turn into crypto casino sites and accept this fast-growing cryptocurrency as the main deposit method!