Gambling With Cryptocurrency in Australia

Is cryptocurrency the future of Australian online gambling?

What is cryptocurrency, and why is it popular in online gambling?
What is the crypto gambling market trajectory?
Is crypto gambling here to stay?
Leap into the future of gambling with Syndicate Casino

Have you experienced gambling with cryptocurrency in Australia? If you love to play from a dynamic casino angle, this emerging concept is your best bet.

The conversation about digital coins is buzzing globally as individuals and businesses adopt this revolutionary payment method. Crypto is rapidly becoming a central part of online transactions for financially savvy individuals.

Top-tier establishments like Syndicate Casino are abreast with this fast, decentralised, and secure payment technology to afford our players unmatched convenience.

Join us as we discuss cryptocurrency, its rising fame, how it affects online gambling, and its prospects. Let’s get rollin’.

What is cryptocurrency, and why is it popular in online gambling?

Cryptocurrency is a digital currency that verifies transactions and maintains records via a decentralised system.

It uses cryptography, an encryption mechanism that makes transactions secure, anonymous, and traceless. Its value arises from blockchain participants, who determine the worth of each currency.

Cryptocurrency is increasingly popular in the online gaming world, including at Syndicate Casino, thanks to enhancing gameplay.

Popular digital coins the Coas Nostra uses to play internet games include Bitcoin, Ethereum, Litecoin, and Dogecoin.

How does online gambling with cryptocurrency improve your casino experience? Digital coin transactions boast unique features that give them an edge over other payment options, including:

Enhanced security

Digital currencies use blockchain, an advanced technology that makes it seamless to track transactions and extremely hard to modify them. This extra sophistication helps safeguard sensitive financial information when playing, depositing, or withdrawing online.

Blockchain tech allocates a unique code on each transaction, so you can track the currency movement with ease. It gives you complete control over your payments while eliminating the risk of stolen or misused player information.

Privacy and anonymity

Crypto transactions are highly anonymous, helping conceal and protect your identity. Payments stay private because your digital currency account doesn’t link to your personal information.

Wide accessibility

Crypto is widely accessible to players across Australia thanks to minimal requirements. Whether you use a smartphone or computer, an internet connection, and a digital wallet, sending scratch is convenient.

Setting up your wallet is incredibly fast and less rigorous than opening a conventional bank account. You can complete the process without ID verification, credit, or background checks, so you can start your reel spinning almost instantaneously.

Increased transparency

Transparency is one of the most prized considerations by Australian casino players. Since crypto transactions occur on a publicly available ledger, you have full access to your payments at all times.

Using the built-in wallet tools, you can easily monitor your transaction data including how many coins are in your digital purse.

Resistance to inflation

Crypto transactions aren’t susceptible to inflation and political exploitation like normal money, whose printing is under the government’s control.

Currencies like Bitcoin have a cap on the number of coins miners should mint, securing it against losing its worth. This extra protection layer helps safeguard the value of your bounty.

Faster transaction speed

No Australian cheetah wants to experience payout delay after an adrenaline-pumping poker game. There’s always an itch to get hold of the dough, and that’s where cryptocurrency comes in handy.

While it may take up to five days to receive your winnings with other payment options, crypto payouts are almost instant. Confirmation takes minutes, making your funds available for withdrawal relatively fast.

Lower transaction costs

Crypto transactions offer a more cost-effective route to gamble online in Australia. The absence of a central authority manning the blockchain means no fluctuating bank charges and expenses, even for cross-border payments.

What is the crypto gambling market trajectory?

According to Grand View Research, the global market value of the online gaming industry stood at $63.53 billion in 2022.

The research firm further predicts the industry’s expansion at a compound annual growth rate of 11.7% between 2023 and 2030. It says this explosive growth is mainly a function of rapid internet penetration and increased smartphone use in playing online games.

This trend has sparked the emergence of crypto casino games. The market currently boasts more than 70 online operators that rely purely on digital currency transactions. Some 47% of online gambling sites accept both traditional payments and cryptocurrency, and this shift remains on an upward trajectory.

Crypto’s simplicity and wide variety draw more casino players to it. At the start of 2021, about 22% of the total bets were staked with digital coins. By 2022, cryptocurrency bets rose by 115%.

Bitcoin is the most-used crypto, taking up more than 80% of the online gambling share. Over 50% of Bitcoin’s transactions involve casino gaming.

Ethereum occupies second place, with around 10% of players preferring it. The remaining 10% goes to Litecoin at 6% and other coins combined at 4%.

How can you maximise your crypto gambling experience?

Considerable evidence points to cryptocurrency gambling as the next big thing in Australia, but how do you leverage this revolution?

One way to use your digital coins wisely is by diversifying your portfolio. Reputable sites like Syndicate Casino provide a rich variety of table games, slots, and live deals. Why not spread your gaming experience across different titles?

Dividing your stakes among different digital currencies might also help safeguard your bankroll while boosting your winning chances.

Is crypto gambling here to stay?

Experts forecast crypto gambling will grow to approximately $93 billion by the close of 2023. Part of this expansion is due to the rising number of hybrid establishments like Syndicate Casino that adopt fiat money and cryptocurrency.

Here’s a trend of the growth trajectory that portends a brighter crypto gambling future:

Year	Industry value estimate ($)
2011	25.4 billion
2012	28.2 billion
2013	31.2 billion
2014	34.8 billion
2015	37.9 billion
2016	41.7 billion
2017	47.1 billion
2018	51.9 billion
2019	55.1 billion
2020	59.7 billion

According to studies, many crypto players prefer sports betting, followed by online casino games like slots and poker. They choose gambling with cryptocurrency coins because:

Blockchain is more secure (23% of surveyed players)
Digital coins inspire more trust (19%)
Crypto is more cost-effective (17%)
Cryptocurrency simplifies microtransactions (15%)
Blockchain protects Internet Protocol or IP (12%)

From this analysis, there’s no doubt the future of crypto gambling is awash with opportunities. Even better, blockchain tech still has massive untapped potential, meaning the best is yet to come.

Platforms that leverage this technology like Syndicate Casino get access to unique features unavailable on traditional gaming sites.

The inviting “play-to-earn” feature infused in blockchain games will likely trigger phenomenal casino growth as it promotes a transparent gaming environment.

The future also carries the prospect of players trading in-game assets for actual cash or re-investing their prize money in other titles.

As more Australian players show interest in digital currency and use it frequently, crypto gambling has the potential to reach unprecedented heights.

The more popular it gets, expect a broader coin range to sprout, offering alternative ways to soak in Borgata fun.

Leap into the future of gambling with Syndicate Casino

The online gaming scene is expanding rapidly and shows no indication of slowing down soon. Based on the latest research data, the future of online gambling is luminous.

Industry experts project a massive revenue increase over the next decade thanks to rising digital currency players.

Do you want to rhyme with the flow and make the most of your online gaming experience in Australia?

If you already have an account, consider switching to digital coins to test why other Goodfellas rave about crypto.