We Take a Look at Why We Think Bitcoin Is a Good Option for Online Gambling In Australia

Added: June 23, 2014

From an online gambling point of view, Australia is something of an odd one out, in a similar way to Canada. Why is this? Because overall, unless an online gambler is playing at a locally licensed online casino site, they are actually breaking the law.

Why is this a problem? Because many of the online gambling sites that are legal to play at in Australia do not come with the same level of features as the larger international online casino sites. So this means that if online gamblers in Australia, want to play at the best online casino, they are going to need to break the law. And just like Canada, this is not usually a problem, as nobody has ever been prosecuted for playing at an unlicensed online casino…yet.

The simple truth is that they could be, and it can only be a matter of time before online gamblers in Australia start to hit this problem. Something they can do to limit this, is to try and play anonymously, and that means anonymous deposit and withdrawal transactions into and out of their online casino.

Luckily, there is a very simple way to achieve this, by using Bitcoin. Bitcoin is a virtual currency, and just like normal hard currencies, it has an exchange rate that drives it value. Where Bitcoin does differ over normal currencies, is that all transactions are done anonymously, using a pier to pier kind of setup. So there is absolutely no paper trail.

Of course, there will be a paper trail for the original purchase of the Bitcoin virtual currency using real currency, but once it turns up in the online gamblers Bitcoin wallet, a special application that runs on their PC, every transaction made in Bitcoin is entirely anonymous.

So by using Bitcoin to make a deposit or withdrawal into or out of their online casino account, Australian online gamblers are making completely anonymous transactions. This means that if they want to play at one of the large international online gambling sites, that does not have a local license in Australia, the chance of them being tracked down is very small indeed.

So there we have it. If you are an Australian online gambler, who would like to cover their tracks, and stay almost completely anonymous whilst playing at an online casino, then Bitcoin could well be the best option right now.