Role of Crypto Payments in Australia's Online Casino Market

Since Australians are well known to love gambling in all of its forms from SportsCasting to sports betting and casino games, technological developments have helped to transition this passion smoothly into the online space, causing a surge in the online casino industry. Already, it has been reported that there was a 2% increase from Australia's 11.6% gambling population in 2023 to about 13.6% in 2024 so far. Many factors are contributing to this surge one of which is the use of cryptocurrency in the industry. 

Cryptocurrency In Online Gambling In Australia 

The global popularity of cryptocurrency is growing, to the extent that some countries have legalized it for business transactions. From Canada to Japan and Germany to El Salvador, the use of digital currencies in online gambling is now accepted. Crypto payment option operates 24/7 and is readily accessible to players from Australia. Besides, making payments with these digital coins is safe and convenient, plus, the transactions are more cost-effective and faster than other traditional payment options. Since the online gambling industry is heavily regulated in Australia, and using crypto within the country is prohibited, several foreign casinos have flooded the Australian online casino market. This is largely due to the fact that Australian laws and regulations do not apply to them.

5 Offshore Casinos That Accept Crypto In Australia 

Online Casinos are best suited for gamblers who prefer to get the feel of casinos from the comfort of their homes. With the recent ban on crypto in Australia in 2024, many gamblers from the country still have access to online casinos that support the use of cryptocurrencies for payments. The paragraphs below will discuss five offshore online casinos that accept crypto payments in Australia today:

1. WSM Casino

WSM Casino is a regulated and licensed online gaming platform that offers a satisfactory cryptocurrency experience. This online casino that's recognized for its exciting and creative features, is one of the best accessible crypto platforms in Australia. WSM casino features a premium Web3 panel that allows the use of their token currency, Wall Street Memes (WSM) and other crypto functionalities. With the token currency, players can gain access to features like Perps and Lootboxes, and at the same time, buy, stake, sell and receive prizes. To crown it all, the platform has a variety of games, ranging from special Wall Street Memes games to crash games and sports betting to cryptocurrency games.

2. Punt Casino 

Punt Casino is one of the best bitcoin online casinos in Australia. This gambling platform provides new players with a free chip, making it stand out amongst other crypto casinos. With the free chip offered by the casino, players can make bets in table games such as blackjack or roulette instead of playing only slots. This is significant because most casinos online restrict deposit match bonuses to only slot betting. Furthermore, Punt Casino offers one of the largest casino bonuses in Australia. The platform boasts more than a thousand slot options, and games from reputable providers like kA Gaming, Betsoft and Reevo.

3. BC.Game

BC.Game is amongst the leading casinos in Australia at present. The casino goes beyond just accepting only Bitcoin. Currently, this online platform welcomes more than 25 popular cryptocurrencies including; Dogecoin, Ripple, Litecoin, and Ethereum just to mention a few altcoins. Hence, players can deposit their preferred digital currency. Additionally, BC.Game offers an extensive collection of slot games from well-recognized developers such as Booming Games, Real Time Gaming, Nucleus Gaming and many others. What makes this online casino stand out from others is that it offers exclusive games that are not found in other offshore casino platforms. Aside from slots, virtual versions of casino games like video poker, blackjack and roulette are hosted on the BC.Game Casino.

4. FortunesJack

Many Australians consider FortuneJack as one of the best crypto casinos in Australia because it provides a variety of promotions and traditional and innovative games. This results in an exciting experience for gamblers. Another impressive thing about this platform is that with their first four deposits, a player is allowed to choose a bonus. This gives them the choice to try each option and pick their preferred one. Lastly, loyal players are rewarded with cash-back incentives through their VIP program. The range of the rewards is between 25% to 45%.

5. Hell Spin 

Hell Spin is an online casino that's just recently launched. This platform has gained a massive following amongst Aussies. With an impressive game selection, it offers more than 4,000 slot games from leading gaming studios. Despite being a new player in the online casino industry in Australia, Hell Spin has a unique mobile feature and offers an excellent user experience to players. Currently, it offers slot games such as jackpot slots, bonus buy slots, classic slots and a host of others. This online casino is ideal for gamblers who like to place big crypto bets.

Regulatory Considerations for Australian Players

The laws regulating online gambling in Australia are quite complicated. While it's illegal to operate online casinos in the country, Australians are not banned from using and playing on offshore online casinos. This grey area in the legal landscape has made it possible for international casinos to find fertile ground to thrive and attract players from Australia. Despite the legal complexities,  gamblers should always stay alert and keep abreast of recent regulatory updates in the gambling industry. Also, playing on well-vetted and licensed platforms allows casinos to maintain fair play standards, provide excellent customer service and render safe financial transactions. Verifying whether a casino is licensed by a reputable international gambling authority will add another layer of security.

Finally, despite the strict regulations on cryptocurrency and the gambling industry in Australia, many Aussies still have access to offshore online casinos that accept digital currencies. Crypto payments in online gambling can serve as an excellent alternative to other payment methods because it's highly secure, cost-effective and generally faster.