More than 80% of Australians are involved in online gambling to a smaller or bigger extent. This trend was formed by the limited regulation of online casinos in the country. Although laws are restricting Australians from gambling, they are not as strict as in the United States of France.
The top new casinos by Gifts Australia allow punters to mess with cryptocurrencies. In fact, Australia has become one of the first countries that openly supported the integration of crypto into different spheres of life. In online gambling, cryptocurrencies can be used as a secured and convenient form of payment. Thus, AU punters are spending a lot of time on such platforms as AussieOnlineCasino, playing casino games and earning money.
Cryptocurrency Legal Aspects
Despite seeming freedom and flexibility, the use of cryptocurrencies is regulated by the Australian authorities. The country has taken a progressive approach to the legislation and regulation of currencies such as Bitcoin, Matic, Ethereum, and many others.
In 2017, the Australian authorities stated that cryptocurrencies were legal. Moreover, they stated that Bitcoin is an “asset” and subject to CGT. This is a considerable change for Bitcoin and altcoins, considering the previous inconveniences associated with double taxation.
A lot of crypto businesses have found their place in Australia due to the convenient environment for crypto operations. Of course, the gambling sector with Bitcoin pokies is probably the brightest representative of the given trend.
Although online gambling is not allowed in the country, Australians enjoy a wide choice of web and mobile casinos operating from abroad. They can play jackpot pokies online and make a profit at the platforms like Aussie Online Casino. They can also try their luck with Bitcoin games in the form of table games, slots, live dealer games, and so on. Why are online Bitcoin casinos so admired by Australians? Well, they don’t charge you for their services, and they offer nice bonuses to newcomers and repeat customers. Just take a look at the benefits granted by online casino Jackpot Jill and get no deposit bonus.
The government continues to adjust the system to new trends by making cryptocurrencies a more accessible and viable option for gamblers and investors. Moreover, the government is also considering other aspects of this industry such as the integration and legality of ICOs.
Considering the growing interest demonstrated by Australians, online crypto casino sites based on the latest technology surely have high chances of success. This means the casino experience will be boosted by providing anonymity and better payment options.
In Australia, you can find a bunch of crypto exchanges and other crypto resources – from blockchain-based payment suppliers to the best Bitcoin casinos operating from abroad. Bitcoin exchanges provide strong security as they are managed by AUSTRAC (Australian Transaction Reports and Analysis Centre).
Crypto businesses operating in Australia are obliged to identify their operations. This regulation is suitable for exchanges and also really beneficial for customers.
After all, this means that there is greater scope for cryptocurrency investments. If the industry in Australia has better support, investment opportunities will take a more lucrative look. People will be willing to push real money into crypto exchanges and startups.
In the end, investment in other associated businesses will improve. We will see a drastic increase in casinos that accept Bitcoin as a payment method. This is about to happen anyway.