Bitcoin is widely accepted at Australian online casinos, making it easy for users to place bets and play their favourite games. This expert guide takes you through everything you need to know about Bitcoin crypto including its key features, how to make Bitcoin deposits, legality, and the best Bitcoin casinos in 2024.
Below are our picks for the best Bitcoin casinos in Australia. These leading casinos process Bitcoin transactions quickly and easily.
Bitcoin is a decentralized digital currency that has revolutionised peer-to-peer transactions online. It operates without a central authority or a bank. Instead, it uses blockchain technology to record all transactions, ensuring full transparency and security. Since it does not need an intermediary to operate, transactions are faster and cheaper, especially for international transfers. This makes it a popular banking option at online casinos in Australia and beyond.
Bitcoin operates without a central authority and instead, transactions are verified by network nodes and recorded on a public ledger called a blockchain.
Bitcoin is one of the world’s first purely digital currencies. It only exists in electronic form, stored in digital wallets.
Bitcoin transactions are pseudonymous, meaning they do not directly reveal the identity of the users involved.
Cryptographic techniques secure Bitcoin transactions by ensuring each one is authenticated, making them resistant to unauthorised alterations and fraud.
Like precious metals such as gold or silver, Bitcoin is seen as an investment asset, so its value is influenced by economic conditions, investor sentiments, and global financial markets.
Under the International Gambling Act (IGA) established in 2001, online casino providers are prohibited from offering services to Australians. That said, the IGA does not prevent or penalize individuals who wish to gamble online, allowing Aussies to legally access offshore casinos.
Through this loophole, Australians can legally wager at casinos using cryptocurrencies, like Bitcoin, Ethereum since they’re not regulated under the IGA or the Australian government. Therefore, you should always exercise caution and choose reputable, licensed casinos. At Australian Gambling Online, we take extreme care in choosing Bitcoin accepting online casinos that prioritise safety and fair play to ensure a secure gambling environment for our users.
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In this section, we compare traditional casinos to Bitcoin casinos to show you how they stack up.
| DIFFERENCES | TRADITIONAL CASINOS | BITCOIN CASINOS |
|---|---|---|
| Transaction Speed and Fees | Transaction times are typically slower, especially for withdrawals which could take several days due to bank processing times.
Fees are often higher and may apply to credit card transactions, bank transfers, and currency conversion. |
Transactions are faster and often processed within a few minutes to a few hours.
Bitcoin transactions often have minimal fees or no fees compared to traditional casinos. |
| Anonymity and Privacy | Payments require personal and banking information that can be monitored by financial institutions and government entities. | Do not require personal or banking information and can be conducted pseudonymously which offers greater privacy and discretion. |
| Security | Rely on the security measures of the financial institutions involved.
There is a moderate risk of fraud. |
Enhanced by cryptographic techniques which make transactions secure.
Risk of fraud is lower as transactions are fully transparent and irreversible. |
| Regulation and Legality | Subject to extensive regulation by government and financial institutions, and must comply with local laws which can restrict access.
Legality varies by jurisdiction. Some countries heavily regulate online gambling or ban it altogether. |
Less regulated especially in terms of transactions, allowing access to offshore casinos.
Legality of Bitcoin for online gambling depends on local laws and regulations. |
| Game Availability and Fairness | Have a broad range of games and offer extensive libraries for fiat currency players. Games are regulated by government bodies that ensure fair play and compliance with industry gaming standards. |
Game availability is increasing with many casinos offering games specifically for Bitcoin users. However, some niche casinos may have a more limited selection.
Reputable Bitcoin casinos offer games that use provably fair algorithms. |
| Bonuses and Promotions | Offer welcome bonuses, free spins, deposit matches, and other promotions for fiat currency users. Wagering requirements can be high. |
Offer similar bonuses that are often more attractive or exclusive for Bitcoin players including higher deposit matches or unique promotions. Wagering requirements can be lower but this varies by casino. |
Depositing your Bitcoin at an online casino is typically an easy, straightforward process. Since Bitcoin and other digital currencies are decentralized, there are no bank accounts or verifications required making transactions incredibly efficient.
First, choose a reputable Bitcoin casino. We always recommend selecting a thoroughly reviewed and vetted casino like the ones on our list.
Once you’ve chosen a casino, you will need to make an account. This involves filling out a sign-up form and providing basic details such as your name, email, and phone.
Navigate to the casino’s cashier page and select Bitcoin from the list of available deposit options.
From here, you will need to connect your Bitcoin wallet to your casino account to ensure seamless transactions. The casino will provide a unique deposit address for your account. Access your Bitcoin wallet through your wallet app, select the option to send Bitcoin, copy the address provided by the casino and paste it into the recipient field of your wallet. Enter the amount you wish to deposit.
When you’re ready to confirm, double-check the recipient address and the deposit amount for accuracy. Then confirm the transaction, send the funds and wait for confirmation. The transaction will need to be confirmed in the Blockchain network which can take a few minutes depending on how congested the network is.
Now that you know more about Bitcoin, you can see why many Australians use it for online gambling. The best real money casinos now focus on accepting Bitcoin and other cryptocurrencies, often providing exclusive bonuses and deposit perks.
However, as Bitcoin gambling is still relatively new, some drawbacks exist, such as player discomfort with the technology, its fluctuating coin value, and the fact that not all Aussie online casinos have embraced this trend.
Higher limits for withdrawals and deposits
Exclusive Bitcoin bonus offers available
Minimal to no transaction fees
Instant transaction speeds
Gambling with Bitcoin may be off-putting for those less technologically-inclined
Not every Australian online casino site accepts Bitcoin
The value of Bitcoin can fluctuate
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In recent years we have seen a surge in crypto casinos or casinos that accept Bitcoin and other crypto payments. These online casinos offer a lot of convenience to…
Is cryptocurrency, like bitcoin, popular in Australia? We break down bitcoin for the casino.
Bitcoin remains the most popular and commonly-known cryptocurrency in the world – and in recent years…
Absolutely! You can claim every available casino bonus when you deposit with Bitcoin. Sometimes you might even find a special crypto bonus which is exclusively available for players who deposit using cryptocurrency.
Depending on the casino, you can deposit using one of dozens of cryptocurrencies when gambling online in Australia. Although Bitcoin is the most common crypto casino deposit method, many casinos also accept Litecoin, Ethereum, Bitcoin Cash, Tether, USD Coin, Dogecoin, and many more!
Bitcoin deposits are normally completed instantly! Bitcoin is among the fastest deposit methods available to Australian online casino players.
Players can expect near instant withdrawals when using Bitcoin at Aussie online casinos. Once the casino itself has authorised the withdrawal, you will normally have your winnings in your crypto wallet within minutes.
Absolutely! In fact, many Aussie Bitcoin gambling fans would argue that Bitcoin is safer than traditional banking methods such as credit cards. You don’t have to enter any personal banking information when deposit or withdrawing with Bitcoin. So the chance of your banking information being stolen is greatly reduced. You should always keep your Bitcoin wallet key safe as you will lose access to your crypto if you lose this.
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