Nowadays, people use cryptocurrencies in different spheres of everyday life. In recent years, gambling with Bitcoin has become incredibly popular among BTC holders. Professional gamblers are even often compared to BTC traders. But what does the law say about crypto gambling in Australia?
An Inside Look at the Cryptocurrency Market Today
Bitcoin is no longer the only popular crypto today. Many decent altcoins have entered this niche lately. Ethereum and Litecoin keep strengthening their positions on the market, especially after the sudden drop of BTC in June 2021.
The decrease came just after the boost of Bitcoin price in April. At that time, the value of BTC was above 75,000 CAD. Today, Bitcoin is stable. Analysts give positive forecasts for its further growth. Respectively, more and more big companies, small businesses, and start-ups in Australia integrate Bitcoin solutions.
There are many proven ways to get rich on Bitcoin today. The most effective means to multiply one’s crypto fortune are:
Gambling Laws and Regulations in Australia
Gambling tops the ranking of people’s favorite activities. However, casino enthusiasts in Australia may experience certain inconveniences due to the number of regulations. There is no single statute that regulates gambling activities in the entire territory of Australia. Each state has its specific laws and restrictions, meaning that casino owners have to obey a particular jurisdiction.
Land-based gambling establishments should be accredited with a license by a corresponding regulatory body in their states. The overseas operators also need to apply for a license, if they plan to render their services in Australia.
According to the Interactive Gambling Act (2001), Internet casinos, online Poker rooms, and wagering services are under a ban on the Australian territory. The promotion of these services is restricted as well. However, the law doesn’t touch players themselves. The regulations concern only providers of services but not customers.
Bitcoin Gambling in Australia
Due to the stringent regulations on traditional gambling in Australia, online crypto casinos are getting highly popular among local players. Anonymity and overall security are two primary advantages of a reputable Australian Bitcoin casino. By gambling with Bitcoin, players may keep a low profile from third-party intermediaries.
What makes crypto casinos stand out are fast and anonymous blockchain-based payments. All BTC transactions run via the peer-to-peer network, meaning that they won’t appear in any bank statements. Besides, players who opt for BTC gambling can be confident that their personal and financial data is protected from fraud.
Still, despite all the privileges of cryptocurrency gambling, casual players have to be cautious not to bump into a black-listed platform.
Signs of a trusted online crypto casino:
- License from respectful jurisdiction
- Provably Fair system
- Valid SSL encryption certificate
- 24/7 customer support
- Different payment options (BWT, cards, e-wallets)
- Wide selection of cryptocurrencies
- Reasonable bonus demands
Popular Bitcoin Casino Games
The boom for crypto gambling resulted in the appearance of many different BTC games. The most popular among Australian players are pokies with Bitcoins, table games, and live entertainment with real dealers.
The Bitcoin gambling industry keeps expanding with new titles almost daily. Players select BTC games over ordinary ones for their high rewarding potential and an opportunity to hit a jackpot in BTC. This site https://7bitcasino.com/new offers the latest releases of Bitcoin slots from the leading software providers.
There are many ways to become rich with cryptocurrencies today. Gambling with Bitcoin has become just as popular as trading or investing. The demand for crypto casinos among locals is understandable. They save players from harsh restrictions due to independent blockchain-based transactions.