Australia and Bitcoin Gambling – This article revolves around the acute political debate on the recent amendments to the Interactive Gambling Act’s Bill of 2017. If you are a serious gambler, this might be an important piece of information for you.
This bill mostly affected the ‘offshore’ online casinos that provided their services in Australia. The government is close to finalizing the Bill. This will result in a serious blow to all the international online casinos in Australia.
The main law does not deem these casinos as illegal, neither are they seen in legal boundaries. The Bill actually proposes that the most online casinos are unregulated by the government and should be maintained under law. If a casino fails to follow any law by the government, it will result in penalty and more.
Although the actual Bill states its purpose as to prevent ‘problem gambling’ or gambling addiction, it’s obvious reason for existence is to solve the problem of loss in tax revenue because of Australians preference of online gambling over land-based gambling. In reality, online gambling is much effective in handling gambling addiction than its counterpart.
In case the proposed amendments are made a reality, most online casinos under regulation will deny fiat deposits to Australian customers and even if they do, customers will not risk depositing funds from their bank account to avoid prosecution or charges.
Bitcoin is the game changer; A popular cryptocurrency. If steps are taken carefully, one can obtain Bitcoins privately and use them in anonymous Bitcoin casinos. Since most crypto casinos do not need players’ identities, Bill is least likely to target online players gambling using Bitcoins.
The cherry on top, from 1st July 2017 on wards, Australian Budget of 2017 states that ‘double taxation’ will no longer be applied to Bitcoin and related cryptocurrencies which means the Bitcoin gambling can actually be a cheaper as well as safest method of gambling for Australians.
The Bill, other than gamblers, did not impress many government officials, including Australian Senator David Leyonhjlem who expressed his disappointment using ill words for government and advising the citizens to get VPN. He also criticized the government’s inability to tax offshore casinos which resulted in the amendment to the Bill. His own proposal to exclude poker and blackjack from the ban was rejected.
Bitcoin friendly Casinos
If you think that you cannot play or gamble online after the Bill passes, then you might be wrong. All you need is some Bitcoin and a dash of luck because these sites still welcome Australian players who deposit in Bitcoin:
One of the largest and most reputed poker sites; this is the best fit for you if you love poker. Once Bitcoin is deposited, then the rest depends on your luck. You can take immediate advantage of the weekly $5000 freeroll and 100% deposit bonus to have a chance in its $100,000 Guarantee tournament.
This is the exact replica of any land-based casino where you can play the full range of slots and table games. With exception of NetEnt Pooled Jackpot from Mega Fortune game, this site fills the gap with Live Dealer selections which provides a real-life gambling experience of roulette or blackjack.
If you like sports as well as gambling, Cloudbet’s sportsbook is surely the thing for you. It allows you to bet and gamble on your favorite Australian sports like cricket or soccer, not to mention that all nationalities are welcome. As a welcome bonus, Cloudbet also gives its customer 5 BTC on their first deposit which is around $36,000 AUD at today’s price.