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Betting with Crypto in Australia: Legal Framework, Regulations & Offshore Sites

By Tolu Shotade

24 Oct 2025

Tolu Shotade 24 Oct 2025

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Crypto treated as property, not currency in Australia.
Domestic platforms can't legally offer crypto betting.
Offshore platforms provide options but require careful selection for safety.

Australia

Crypto betting in Australia is quite complex as the digital currency is viewed as property or assets, not as legal tender and as such the use of them for online gambling on local platforms is prohibited.

A detailed breakdown of the legal framework of crypto betting in Australia, examining the regulations and offering tips on how to bet with crypto in the country.

Top Crypto Betting Sites available for Australian Players

Before we delve into the legal framework around crypto betting in Australia, it helps to know the global operators that are available to players in the country. Below is a list of some of the more prominent platforms:

Is Crypto Betting Legal in Australia?

No, crypto betting is not legal in Australia as cryptocurrency is viewed as property or assets in the country. This means the use of the digital currency for online gambling on domestically licensed platforms is prohibited.

However, there are offshore crypto betting sites available to players in Australia, who are keen on betting with cryptocurrency. Always ensure that whatever betting site you choose is legitimate and fully licensed and regulated by the relevant authorities.

Australian Laws on Online Gambling

As stated earlier online gambling is complicated in Australia as betting on racing and sports is legal. However, you cannot play online casinos in the country according to the Interactive Gambling Act (IGA) 2001.

The IGA is the primary legislation governing online gambling in Australia. It explicitly prohibits Australian-based companies from offering certain interactive gambling services (like online casinos and in-play sports betting) to Australians.

Online sports gambling is legal as there are several domestically licensed platforms offering the service to betting enthusiasts, However, the wagering must occur prior to the start of the event as the IGA prohibits the offering of live ‘in-play’ betting, which would be considered interactive.

Crypto Betting in Australia

While cryptocurrencies themselves are legal in Australia, the use of them for online gambling on domestically licensed platforms is prohibited. The digital currency is typically treated as property or assets in Australia, not as legal tender, meaning that buying, selling, trading, or using them for purchases triggers capital gains tax (CGT) events.

In 2023, Australia also passed the Interactive Gambling Amendment Bill, which places a ban on the use of cryptocurrencies and credit cards for online gambling with platforms registered in Australia. The ban aims to prevent Australians from gambling with borrowed money and violations can lead to substantial fines for operators.

All of this means that there are no domestically licensed gambling platforms offering crypto betting services in Australia.

AML/CTF Regulations for Crypto Betting in Australia

The Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) Act was passed in 2006 and applies to all gambling and betting companies in Australia. Operators are mandated to comply with AML laws, which include enrolling with AUSTRAC (Australian Transaction Reports and Analysis Centre).

Operators are also required to conduct Know Your Customer (KYC) checks, keeping records, having AML/CTF programs, and reporting suspicious transactions. This is a crucial aspect for any platform, domestic or offshore, that wishes to operate with any degree of legitimacy.

Offshore Crypto Betting for Players in Australia

Due to the complicated nature of online gambling in Australia and the ban on crypto payments for online gambling, players are beginning to look towards unregulated offshore platforms. These platforms operate outside the jurisdiction of Australia and do not operate under their regulations.

It should be noted that there can be some risks engaging with offshore platforms as players have little to no legal protection in case of disputes or unfair practices. They are not subject to the same consumer protection laws, responsible gambling mandates imposed by Australian Authorities.

It should be noted that a lot of reputable crypto betting sites in other parts of the world are also subject to certain regulations and guidelines from relevant authorities in their regions. They have KYC and AML rules that they adhere to.

Things to Consider Before Choosing an Offshore Crypto Betting Site

With offshore crypto betting sites not subject to Australian regulations, it is important to choose legitimate platforms to avoid falling victim to scams. We will now offer some things to consider before opting for any offshore betting site:

Legality

The first thing to consider before choosing an offshore crypto betting site is legality of the platform. Always ensure that your chosen operator has a license from reputable gambling authorities

Some of the more popular licensing bodies are Malta Gaming Authority, Curaçao eGaming, Gibraltar Regulatory Authority, etc.

Crypto Availability

The point of seeking out an offshore crypto betting site is to wager with cryptocurrency. It is vital to ensure your chosen platform accepts a wide array of cryptocurrencies. Unlike operators that are prohibited from accepting crypto, a lot of offshore platforms carry out their transactions directly with cryptocurrencies.

User friendliness

Betting is usually a simple and straightforward process and should be done with minimal fuss. A cluttered site makes it tricky navigating through the numerous sections, so a good crypto betting site should have a user-friendly interface.

It should be easy to navigate the different sections of the page. Carrying out your wagering needs from making deposits, withdrawals and claiming your bonus, should be done with minimal fuss.

Bonuses and Promotional offers

Everyone likes freebies so bonuses and promotional offers will be a major consideration when choosing a sports betting site. The welcome offer is usually your first introduction to promos on a betting platform and the ones with generous bonuses.

There are also other offers that may catch your attention like the loyalty bonus, accumulator bonus and numerous free bets.

Taxation on Crypto Betting

In Australia, the taxation of gambling winnings is generally quite favorable for individuals. The Australian Taxation Office (ATO) largely views gambling as a recreational activity rather than a source of assessable income.

Gambling winnings are not considered ordinary income in Australia and as such are typically not taxed for individuals. However, there is a slight nuance with cryptocurrency, which are not considered legal tender in the country but viewed as assets or property.

In Australia, if you win a non-cash asset and then later dispose of that asset, any capital gain made on the disposal of that asset may be subject to Capital Gains Tax (CGT). The cost base for CGT purposes would be the market value of the asset at the time you won it.

Cryptocurrencies fall under this purview as according to the ATO, if you hold that crypto as an investment after winning it and its value increases before you sell it, the capital gain on that subsequent increase in value may be subject to CGT. The initial value of the crypto when won forms its cost base.

Future of Crypto Betting in Australia

There are ongoing discussions on how to regulate crypto more broadly in Australia. This could eventually lead to more specific legislation regarding crypto betting in the country.

As more Australians become familiar with and invest in digital currencies, there might be a greater demand for crypto-friendly betting options. More structured regulations for crypto betting may emerge, potentially making licensed operators safer and more mainstream.

Betting with Crypto in Australia FAQs

Is online gambling allowed in Australia?

Online gambling is complicated in Australia as betting on racing and sports, although live in-play betting is prohibited. However, you cannot play online casinos in the country according to the Interactive Gambling Act (IGA) 2001.

Is Crypto Betting Legal in Australia?

Are Offshore Crypto Betting Sites Safe For Players in Australia?

Due to the restrictive and inconsistent regulations within A, many American players often go to offshore crypto betting platforms. These operators are safe as long as they are licensed by some of the more prominent authorities like Malta Gaming Authority, Curaçao eGaming, Gibraltar Regulatory Authority.

Are crypto winnings taxable in Australia?

Gambling winnings are not considered ordinary income in Australia and as such are typically not taxed for individuals. However, if you win a non-cash asset (like cryptocurrencies) and then later dispose of that asset, any capital gain made on the disposal of that asset may be subject to Capital Gains Tax (CGT).

When will Crypto Betting be Fully Legal and Regulated in Australia?

While Australia’s stance against crypto payments for online gambling on domestic platforms, discussions are ongoing about broader cryptocurrency regulation. As more Australians become familiar with and invest in cryptocurrencies, there might be a greater demand for crypto-friendly betting options, which could lead to new favourable legislation.

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