Bitcoin Sports Betting Australia
Bitcoin sports betting is now a reality, and we are here to show you where, how, when, why, and what to get involved with! While the bitcoin betting Australia makes available is by no means paltry, you must bear in mind that this cryptocurrency was only released in 2008/2009, and so it is still not as accepted as more traditional currencies are. Cloudbet Sports. Cloudbet Sports is a completely Bitcoin sportsbook site that allows its players to parlay up to seven selections at one time. This site has a very wide selection of leagues to choose from when betting and even supports live In-Play betting, which is a real bonus to these sites.
Bitcoin Sports Betting Site Under Investigation in Australia
Australian authorities have announced that Bitcoin-based sports betting website, Justbet, is currently the subject of an investigation. The website represented itself as Australian by registering its domain in an Australian Island territory, however, Justbet’s IP address can be traced to Costa Rica.
Also Read:The ‘Crypto-Heater’ Mines Digital Currency While Heating Your Home
Bitcoin Betting Website Under Investigation for Misrepresenting Location
The Justbet website is registered by the Christmas Island Domain Administration (CIDA). CIDA claims to be a community-owned non-profit company that provides internet services to the citizens of Christmas Island – an Australian external territory.By using a ‘.cx’ address, Justbet is able to give the impression that it is subject to Australian regulation. The website, however, was registered by a Panamanian, and IP address trace indicates that the company is based in San Jose, Costa Rica. The company does not appear to be sanctioned by any of Australia’s gambling commissions.
The investigation into Justbet has been prompted by calls from Tasmanian minister, Andrew Wilkie. Following Mr. Wilkie reporting Justbet to the Sports Integrity Initiative, the Australian Communications and Media Authority (ACMA) revealed that it had launched an investigation into the company regarding potential breaches of Australia’s Interactive Gambling Act.
Justbet Likely in Violation of Australian Law
An ACMA spokesperson has stated that the Interactive Gambling Act prohibits “unlicensed regulated interactive gambling services, such as online wagering services provided without a license issued by an Australian State or Territory” from being offered in Australia.
The spokesman also stated that “The ACMA has published a register of interactive wagering service providers that are licensed by an Australian state or territory,” adding that “Interactive wagering services that are not included on this register are likely to be provided to Australian customers illegally.”
CIDA had previously indicated that it could not de-register Justbet without a request being made by local authorities,or the lodging of a formal complaint by a member of the public. “The site should be shut down immediately, and the Christmas Island Domain Administration should act straight away to remedy the situation,” Mr. Wilkie said earlier this week.
Do you think that bitcoin gambling will become an increasing target of regulatory action? Share your thoughts in the comments section below!
Images courtesy of Shutterstock, acma.gov.au
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Bitcoin sports betting is revolutionizing how online sportsbooks provide their services. The online gambling industry is always looking to capitalize on the latest technology to provide more suitable solutions for gamblers. Bitcoin is one of the technologies that is making waves in the sector. Although the cryptocurrency is not novel, it is affecting different industries at varying pace. It’s 2020, and online sports betting is only starting to embrace Bitcoin gambling fully.
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Bitcoin Sports Betting Australia Wins
For this reason, gamblers won’t find a lot of bookmakers accepting cryptocurrency. However, it’s not to say that you won’t enjoy a decent variety. This guide explores some of the best Bitcoin platforms. Apart from that, novices in bitcoin sports betting can learn a few basics before looking up cryptocurrency gambling sites.
What is Bitcoin Sports Betting and How it Works
If you are new to online sports betting, then you might be wondering what Bitcoin gambling is all about. Even punters who have been gambling for a while might not grasp the concept fully. Whatever your situation, you should learn the fundamentals of using Bitcoin for sports betting. So, how does Bitcoin sports betting works? Bitcoin betting is not that much different from regular sports betting. Instead of using fiat (standard) currency, Bitcoin sportsbooks use cryptocurrency.
Digital coins don’t function the same way as fiat currency. Firstly, the currency is decentralized, which means that users don’t have to deal with a third party when authorizing transactions. Secondly, punters don’t need to provide any sensitive financial data like credit card information when playing at a betting site. A Bitcoin sportsbook only requires you to submit your Bitcoin wallet address.
First, you have to buy Bitcoin from a cryptocurrency exchange platform to start cryptocurrency sports betting. Find a reputable exchange, then open a Bitcoin wallet so that you can buy the digital coins you need using credit cards or virtual wallets. Note that whereas fiat currency trades in two decimal places, Bitcoin (BTC) trades in 12.
For this reason, you can make Bitcoin deposits in extremely small amounts. However, Bitcoin sportsbooks have minimum and maximum limits. Although Bitcoin betting is growing in popularity, it’s not the only digital coin that you can use at Bitcoin bookmakers. Some Bitcoin betting sites support alternative coins (altcoins), such as Litecoin, Dogecoin, Ripple, Ethereum, and Tether.
How We Review Bitcoin Sports Betting Sites
Learning about Bitcoin betting is a start, but knowing how to pick the best Bitcoin platform is just as crucial. Hence, we take the time to compile a list of top Bitcoin sportsbooks for punters to consider. Why should you trust our recommendations, though? Because we evaluate each Bitcoin sportsbook meticulously.
Punters have different needs, and that means that the perfect bookmaker is different for everyone. However, some elements are basic when it comes to reviewing the best Bitcoin websites. Our reviewers look at these factors when testing a Bitcoin bookmaker to ensure that it meets our strict standards. Below are some of our sportsbook review parameters:
Reputability of the Bookmaker
Several aspects affect the reputation of a Bitcoin sportsbook like the fairness of the markets, promotional terms, and the treatment of customers. Consequently, during our review, we check all these and more. We look at a site’s history to see if it has any significant problems. Our reviewers scour the web for customer complaints and other red flags. The best Bitcoin sportsbook should guarantee that punters can bet without worry. All the Bitcoin betting sites listed here are licensed and registered and so, bettors can be sure of their legitimacy.
Bitcoin Betting Bonuses
An advantage of playing at an online sportsbook is that you can expect various bonus offerings because that is how operators attract customers to Bitcoin sports betting. Bitcoin betting websites offer enticing promotions for different kinds of users. You will find that most bonuses at Bitcoin sportsbooks are the same as in traditional sites. Some examples are Acca bonuses, odds boosts, and cashback deals. For our reviews, we consider the frequency of Bitcoin sports bonuses. Are they available daily, weekly, or monthly? We also check the terms of the betting sites to ensure that they are favorable to punters.
Sports Coverage
How many Bitcoin sports does a bookmaker offer? The best Bitcoin operator should have a wide variety of sports markets. Most Bitcoin betting sites will have popular options, such as football, basketball, and tennis. Therefore, sports betting websites with rare offerings have an advantage. We consider the extent of the coverage too. What types of events does a Bitcoin sportsbook cover? Our reviews also check the selection of markets available to bet with Bitcoin.
Deposits and Withdrawals
Although some betting sites accept only Bitcoin, others support alternative currencies as well. BTC might be the most popular digital currency but is not available to everyone. Some punters might prefer to bet with altcoins. Our analyses consider the other deposit and withdrawal options available for gamblers. When reviewing Bitcoin sportsbooks, we include the minimum and maximum limits. Usually, they are higher compared to those offered by fiat currency betting sites.
Variety of Sports and Leagues to bet on with Bitcoin
The alternatives available for Bitcoin gaming matter a great deal when choosing a sportsbook. Cryptocurrency sports betting websites don’t differ from regular ones when it comes to sports coverage. Punters can expect comprehensive sports selections; it all comes down to a specific betting site. Whether you get to bet on popular alternatives like football, basketball, and tennis or less-known sports like futsal depends on the gambling website. Besides different Bitcoin sports, betting sites also cover individual leagues. Bettors can wager on local, regional, and international competitions on various betting sites. Below are some examples.
Football
All crypto betting sites offer football because it is the most popular sport. It has millions of followers globally, and that makes it a highly lucrative betting market. The best Bitcoin sites cover the most prestigious leagues in the world, for example, the English Premier League. Other top leagues that receive coverage include Spain’s La Liga, Italy’s Serie A, France’s Ligue1, and Germany’s Bundesliga. Small leagues like the Swiss Super League, Danish Superliga, and Ukrainian Premier League are also available on betting sites.
Basketball
Only second to football in popularity, basketball is just as lucrative when it comes to sports betting. Although the sport doesn’t offer as many leagues like football, it has excellent alternatives. The NBA is the biggest basketball league in the world, and the best Bitcoin gambling sites will cover it extensively. Basketball betting enthusiasts can also put their money on other leagues around the globe like EuroLeague, FIBA Europe Cup, and Philippines Basketball Association.
Tennis
Do you like betting on tennis tournaments? Then top bitcoin sports betting platforms make this easy. Tennis is a popular sport with some of the most prestigious events on the sports calendar. You can wager on the four Grand Slam tournaments, namely: Wimbledon, Australian Open, French Open, and US Open. A Bitcoin sportsbook can also offer odds for professional tournaments, such as the ATP and WTA Finals.
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American Football
Although American football is specific to the continent, it still has a decent following and is available at most online betting sites. A Bitcoin sportsbook that covers the sport will have odds for the NFL, which is the most popular football league. Punters can also bet on college football. The best Bitcoin websites cover the Super Bowl, the NFL’s championship game.
Cricket
Cricket has a global reach and significant popularity, especially in the UK and south-east Asia. The ICC Cricket World Cup is the most coveted tournament, so any Bitcoin sportsbook worth anything will offer it. Another major tournament is the Ashes Series where England and Australia fight for supremacy. Other cricket markets that you can wager on with digital currency include the Indian Premier League, Asia Series, Commonwealth Bank Series, Border-Gavaskar Trophy and T20 World Cup.
Other Popular Sports
Besides the above sports, an array of other options are available for Bitcoin sports betting. These alternatives vary from one bookmaker to the next. Therefore, if you prefer to bet on a specific sport like Formula One, you have to find a Bitcoin sportsbook that provides it. Some of the other sports that you can expect to find at Bitcoin gambling sites are golf, boxing, MMA, baseball, volleyball, hockey and handball.
Types of Bets That Can Be Made Using Bitcoin
If you are learning about Bitcoin sports betting, you need to know the different kinds of bets available to punters. As with fiat bookmakers, the bets available vary across Bitcoin sportsbooks. While the Bitcoin betting options can be numerous, there a few common types that every punter should be aware of, such as:
In-Play Betting
Also called live bets, in-play bets occur when a market is already in play. For example, if it’s a football match, you can stake on your preferred selection during the gameplay. With live betting, punters have the choice to alter their bets mid-event. However, not every betting site offers in-play betting, so gamblers should check a site’s offerings.
Moneyline
If you are searching for the most straightforward selection when betting with Bitcoin, then moneyline is it. In this market, you bet on the outright winner of an event. If it’s a boxing match, you put money on the boxer who you think will win. Bitcoin betting sites present moneyline bets as fractions, decimals or American odds.
Point Spreading
Cryptocurrency betting platforms offer point spreads where a specific side has to win or lose by a certain margin. Sportsbooks use this type of bet to even the odds between two unbalanced teams. Point spreading is not available for every sport.
Parlay Betting
When betting with Bitcoin, you can opt to combine two or more different bets into one, which is what parlay betting is all about. The point of parlay wagering is to boost your chances of winning. A majority of Bitcoin sportsbooks require parlay bets to contain at least three selections.
Top Sports betting sites for 2020
Bitcoin betting has come a long way, and the current market has a decent choice of options. Picking the best Bitcoin platform requires as much attention as a regular betting site. Punters have two options to consider. One is the exclusive kind, which is the cryptocurrency gambling website where customers can only bet with BTC or other digital coins. The other is the hybrid bookmaker that accepts both digital and fiat currency. Your gambling needs should guide you towards the most suitable alternative. Below are quick reviews of top Bitcoin sports betting sites.
Cloudbet
Considered the premier Bitcoin betting operator, Cloudbet launched in 2013. Since then, the website has increased its sports betting offerings to cover some of the biggest events on the market. Apart from sports, the sportsbook covers several esports markets. Cloudbet has unbeatable odds and an array of bonuses, including a signup offer of up to 5 BTC. Customers enjoy some of the highest BTC betting limits and excellent cashout speeds. Besides Bitcoin, punters can use other digital currencies, including Ethereum, Bitcoin Cash and USDT. If you want a Bitcoin sportsbook with extensive market coverage and attractive promotions, then turn to Cloudbet.
22bet
This bookmaker sells itself on reputability and market coverage. 22Bet is among the top bitcoin sports betting operators in the world. Providing the option to gamble with cryptocurrency only increased the popularity of the gambling site. Presently, customers can transact with over 100 different fiat currencies and 20 digital coins, such as Dogecoin, Litecoin, and Ethereum. However, bonuses are available in conventional currency. Currently, it offers up to €122 plus 22 bet points as a welcome package. 22Bet covers thousands of live events monthly and provides a long list of sports in which you bet. It also boasts excellent iOS and Android apps.
Sportsbet.io
Whether you like betting on Formula One, cricket, or darts, you can find most sports at Sportsbet.io. The bitcoin sports betting platform covers a broad category of markets. It offers great odds for in-play and pre-match bets. Although the site is relatively young compared to the others on this list, it has decent sports coverage. Sportsbet.io has various sports promotions, including an exclusive offer for downloading the Android app. The site is a hybrid, so you can bet with fiat currency as well. It accepts Bitcoin, Litecoin, Ethereum, and All Sports Coin (SOC).
Nitrogen Sports
If you prefer betting sites that only accept Bitcoin, then this is one option. The bookmaker is suitable for seasoned punters who are already familiar with how BTC sports betting works. At the time of writing, Nitrogen Sports didn’t have a welcome bonus or any other promotions, which can be a deal-breaker for some bettors. The sportsbook has decent sports coverage. Punters can wager on everything from horse racing to American football. A huge selling point of Nitrogen Sports is that you can bet anonymously without the need to provide personal information.
Bovada
The online bookmaker is one of the top hybrid sites available. Customers can bet with Bitcoin and Bitcoin Cash, but fiat currency options are present too. The gambling platform, which was established in 2011, is an appealing alternative because it has a decent racebook. So, if you like horse racing betting, the bookmaker doesn’t disappoint. Punters can also wager on a host of other sports from football to rugby to basketball. Bovada has a generous welcome bonus for 2020 of up to $3750 for a 125% deposit match. The site offers competitive odds for basketball.
Advantages of Bitcoin Betting
What value does betting with Bitcoin provide? If you are going to get into Bitcoin gambling, then you should know the advantages that it offers. When you learn everything about crypto sports betting, you can easily capitalize on its benefits. Because it runs on blockchain technology, digital currency provides unique features, some of which we highlight below:
Privacy
Bitcoin sports betting offers a high level of anonymity. The way blockchain functions, users don’t have to provide names or other personal information. When funding your Bitcoin gambling account or cashing out, you only have to provide the wallet address. Additionally, due to the decentralization of cryptocurrency, the transaction doesn’t include any third party, and that means more privacy. However, note that some Bitcoin sports websites have KYC requirements that punters must complete during registration.
Bigger Bonuses
Since Bitcoin betting platforms are not very common, they try to attract as many punters as possible. Hence, Bitcoin sports platforms have some of the biggest bonuses. If you like having extra funds for your sports betting, then consider Bitcoin betting websites. Some bookmakers offer promotions in BTC and other digital currencies, while others present them in fiat currency amounts.
Fast deposits and withdrawals
A big advantage of cryptocurrency is that they provide extremely fast transactions. Due to the absence of a bank or other third-party services, transactions don’t have to go through long approval processes. Therefore, you can expect excellent speeds with digital currency payments. Deposits are instantaneous while withdrawals can take anything between 30 minutes and 4 hours depending on the currency. You also enjoy low or no-fees depending on the Bitcoin sportsbook. Ensures you check the minimum and maximum limits of a particular Bitcoin sportsbook.
Conclusion – Is Bitcoin the Future of Online Sports Betting?
Online bitcoin sports betting is not what it was ten, or even five years ago. One reason is that technological advances are shifting how the industry works. The growing demand for cryptocurrency has required betting sites to adopt the use of different digital currencies. Now punters can easily find reputable bookmakers that accept cryptocurrency. As people understand how the blockchain works and realize the various benefits of betting with Bitcoin, the sector is bound to grow.
Nonetheless, punters should also be aware of the downsides of gambling with digital coins. The volatility of the currency is the biggest challenge that bettors should consider. All in all, Bitcoin gambling operators still have work to do to match the performance and offerings of traditional sportsbooks.
FAQ
If you own Bitcoin and want to play at a conventional sports betting website, then you would have to convert the digital coins into fiat currency first. Afterward, you can send money to the betting site. You can only bet with Bitcoin directly if a fiat bookmaker also supports cryptocurrency.
Yes. Betting with Bitcoin is as safe, even safer, than with regular currency. BTC betting provides the benefit of anonymity. Since you don’t have to give out personal details, there is less risk of data getting compromised. Just the same, ensure that you are betting at a licensed and registered Bitcoin sportsbook.
First, you have to buy Bitcoin from a cryptocurrency exchange. You can use cash, credit cards or virtual wallets for the purchase. Next, you must deposit the digital currency to a Bitcoin sportsbook. The funds are available almost instantly, and you can start Bitcoin betting on desired selections just like in a standard bookmaker.
The legality of Bitcoin gambling varies across regions. In some countries, cryptocurrency is legal, which allows bettors to use it freely on the best bitcoin sites. However, some regions have criminalized Bitcoin transactions, while others don’t consider it legal tender. Therefore, check the legality of using digital coins in a specific region first before betting with them.
Bitcoin and other digital currencies are available for purchase at cryptocurrency exchanges. Begin by finding a reputable exchange, then open an account. An exchange will require personal details for registration. After verifying your account, you have to provide a payment method that you can use to buy BTC and other coins.
Yes. Bitcoin betting offers punters the opportunities to profit off their wagers. You can bet on any sport and hundreds of markets. However, as with any other form of gambling, Bitcoin sports betting has its risks. So, be careful when betting.