Key facts
- Since 11 June 2024, licensed Australian online and phone wagering providers cannot accept digital currency such as crypto, or credit cards.
- So any betting site taking crypto from Australians is not a licensed Australian bookmaker, and offering unlicensed betting to people here is illegal.
- A crypto bet is two bets: one on the game and one on the coin's price while your balance sits in it.
- The ATO treats crypto you win as a CGT asset if you hold it as an investment, and runs a data matching program with crypto exchanges.
- ACMA has had 1,822 illegal gambling and affiliate websites blocked since November 2019.
Can you bet with crypto in Australia?
Not with a licensed bookmaker. Since 11 June 2024, online and phone wagering providers in Australia have been banned from accepting credit cards, credit-related products and digital currencies. ACMA's guidance for punters is direct: you cannot deposit to a betting account using "digital currency (such as cryptocurrency)". The ban does not apply to lotteries.
That settles what a crypto betting site is. If it takes crypto from Australians, it is not a licensed Australian bookmaker.
What crypto betting sites are
Crypto betting sites aimed at Australians are offshore sportsbooks. Betting services without an Australian licence are on ACMA's list of illegal online gambling services, and ACMA asks internet providers to block them: 1,822 illegal gambling and affiliate websites had been blocked by 24 September 2026, counting from the first request in November 2019. Our offshore betting sites Australia guide covers the legal side in full.
Licensed and crypto sites side by side
| Licensed Australian bookmaker | Offshore crypto betting site | |
|---|---|---|
| Crypto deposits | Banned since 11 June 2024 | Accepted |
| Credit cards | Banned, including through digital wallets | May be accepted |
| Online in-play on sport | Prohibited | May be offered |
| Deposit limits and monthly statements | Required | Nothing enforces them |
| BetStop | Covered | Not covered |
| Australian dispute body | The regulator that licenses it | None |
A crypto bet is two bets at once
When your balance is held in a coin, every bet is also a position on that coin's price. Worked example, our numbers:
- You deposit coins worth $1,000.
- You bet the lot at $2.00 and win. Your balance doubles in coins.
- Meanwhile the coin's price falls 25%.
- Your winning balance is worth 2 x $1,000 x 0.75 = $1,500, not $2,000.
It cuts the other way too: lose the bet and you lose the coins, whatever the price did. Moneysmart warns that crypto is very volatile and can swing by large amounts in a short time, which makes the second bet a big one.
The payment risks
- No reversals. Moneysmart notes scammers favour crypto because transactions are not easy to recover. A deposit to the wrong address, or a site that will not pay, cannot be charged back.
- The exchange in the middle. Getting dollars back means selling on an exchange. Moneysmart warns that many crypto providers are not licensed and you may not be protected if a platform fails or is hacked.
- Withdrawal holds. Offshore sites often check your identity only when you try to withdraw. Our crypto casino withdrawal guide walks through the timeline and minimums.
Pundit tip: if a site's main selling point is that it takes crypto, ask why. For an Australian punter, it is the clearest sign the site sits outside the licensing system.
Crypto betting and the ATO
Betting wins are not assessable income for recreational punters in Australia. Crypto changes what happens after the win. The ATO says crypto you win is a capital gains tax asset if you hold it as an investment, and its cost base is its market value at the time you won it. In the example above, the winning coins would have a cost base equal to their dollar value on the day the bet paid out, and selling them later for more or less creates a capital gain or loss.
The ATO also runs a crypto data matching program, collecting records from exchanges and other designated service providers for 2014-15 to 2025-26. Keep a record of what you received, when, and its value in Australian dollars.
Licensed alternatives
If you want to bet on sport or racing with Australian protections, use a licensed bookmaker and pay by debit card, PayID or bank transfer. Our betting sites Australia guide lists the licence holders, and our guides to cricket, tennis and soccer betting explain how those markets settle. The esports betting guide explains the legal line and how to spot an illegal site. For crypto at casinos rather than bookmakers, see crypto casino Australia.
Frequently asked questions
Can you bet with crypto in Australia?
Not with a licensed Australian bookmaker. ACMA says that from 11 June 2024 you cannot deposit to a betting account using digital currency such as cryptocurrency. Sites that accept crypto from Australians are offshore and unlicensed here.
Are crypto betting sites legal in Australia?
No. Betting services without an Australian licence cannot legally be offered to people in Australia, and no licensed bookmaker can take crypto. The offence is the provider's, but you lose every Australian protection by using one.
Do I pay tax on crypto betting wins?
Betting wins are not assessable income for recreational punters. The ATO says crypto you win is a CGT asset if you hold it as an investment, with a cost base equal to its market value when you won it, so selling or swapping it later can create a capital gain or loss.
Is betting with stablecoins safer?
It removes most of the price swing while your balance sits in the coin, but not the main risks. The site is still unlicensed in Australia, crypto payments still cannot be reversed, and a refused withdrawal still has no Australian dispute body.
What does the credit ban cover?
Online and phone wagering providers cannot accept credit cards, credit-related products or digital currencies such as crypto, and ACMA says that includes funds linked to a credit card through digital wallets. It started on 11 June 2024 and does not apply to lotteries.
Related reading
Betting sites Offshore betting sites Offshore bookmakers can offer things licensed ones cannot, like in-play betting online, crypto and sign-up bonuses. Each of those is a sign the site is outside Australian law. Here is what that means for your money. Read more 
Betting sites Betting apps Every betting app in the Australian app stores has to be run by a licensed bookmaker. Here is what that licence allows in the app, what it rules out, and how to compare apps on more than looks. Read more 
Betting Bookmaker margin Every fixed price has the bookmaker's cut built in. Add up a market and you can see exactly how big it is. Here is the method, three worked markets and how the margin grows in a multi. Read more 
Betting Matched betting Matched betting pairs a bookmaker bet with an opposite bet on an exchange so the result barely matters. Here is the maths, why Australian sign-up offers are off the table, what bookmaker terms allow, and tax. Read more 
Betting Betting exchange On an exchange you bet against other punters, not a bookmaker, and pay commission on what you win. Here is how Betfair works in Australia and how to tell when its price really is better. Read more 
Betting Greyhound betting A greyhound race has up to eight dogs, and the box draw, the reserves and the field size all change what your bet can pay. Here is how to bet on greyhounds, with the national rules and the tote maths. Read more Sources
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