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Gambling is a popular pastime across Australia with a number of sports markets and casino games providing people with plenty of opportunity. The rise of online gambling has provided many Australians with a convenient way to place wagers. However, not all gambling markets are permitted in the country. 
The Interactive Gambling Act 2001 prohibits operators from offering online casinos in Australia, but there are grey areas in the legislation that do not prohibit players from accessing offshore betting sites. 
Because bettors often use sites outside of Australian jurisdiction, the popularity of blockchain gaming has risen. This is because players can enjoy hassle-free gambling without delays and issues with exchange rates when using cryptocurrencies. 
<a href="https://www.bitcoincasinos.com/au/">Bitcoin casinos for Australian players</a> provide a convenient option for a growing range of customers thanks to Australia’s forward-thinking crypto regulatory policies. The country is also home to a number of blockchain gaming startups outwith the gambling industry, showing just how vast and diverse the sector can be. 
The Landscape of Crypto in Australia 
While many people may consider countries without cryptocurrency regulations in place to be the ideal place for startups to flourish, the uncertainty often provides too much risk. 
Australia embraced cryptocurrencies and has worked on creating frameworks and initiatives with local policymakers that will advance and benefit the crypto industry. 
As much as 23% of the adult Australian population owns cryptocurrency with the figure rising from 4.2 million people in 2022 to <a href="https://swyftx.com/au/blog/australian-crypto-survey-2023/">4.5 million in 2023</a>. 
Current regulations focus on providing the public with fair markets that are orderly and efficient. The aim is to ensure consumers are protected from improper conduct and fraud. Rules are in place to provide incentives to those who follow regulations. 
This innovative approach has fostered an atmosphere that is conducive to growth and is attractive to a range of startups, especially in the gaming tech sector. 
Why Blockchain Technology is Being Embraced in the Online Gambling World 
Because there are so many online betting sites, those that embrace new technologies can appeal to a wider market. It also shows consumers that the operator is forward-thinking and provides the most up-to-date software for a better gambling experience. 
The implementation of virtual reality and AI software in gaming has taken things to a new level. It can provide a significantly more immersive experience with greater social capabilities. 
Similarly, making the most of blockchain technology to allow cryptocurrencies and NFTs to enter the sector provides an additional level of convenience to consumers. 
Blockchain technology provides users with a greater level of transparency because of the decentralized ledger. This allows players to check the legitimacy and integrity of betting operators. 
The enhanced security that surrounds blockchain cryptographic techniques minimizes the risk of data breaches, hacking, or fraud. It also provides users with a higher level of anonymity. 
The convenience of a global currency helps with quicker transactions and lower costs. This improves the user experience and minimizes the fees typically associated with using traditional currency when betting with international operators. 
The opportunity for consumers to benefit from crypto investments and collectible NFTs is an added bonus that can be financially beneficial for those who know what they are doing. 
Australian Gaming Startups 
Because the Australian government and public are embracing blockchain-based gaming, it is fertile ground for startups and as many as 64 are currently active, including: 
STEPN 
The choice between gaming and keeping fit can be a challenging one. On one side, you can stay fit and healthy, on the other you can have fun and earn while you play. 
The Sydney-based startup has combined the two with a health-based app that allows users to earn rewards for completing various physical activities.&nbsp; 
Royale Finance 
Royale Finance aims to provide gambling operators with a decentralized financial management solution. The tech-enabled system uses blockchain technology to provide a secure and transparent program that bypasses the need for costly intermediaries like exchanges and brokerages. 
Immutable 
Immutable has already received funding of US$857 million and was founded in 2018. It offers an infrastructure that is blockchain-based and designed for developers to create NFT applications and games. 
It provides users with a marketplace where players can gift, buy, and sell in-game items. 
Conclusion 
Many industries are fearful that they will miss out on developing technology that goes on to dominate the sector in the future. Just look at what happened to Blockbuster when Netflix came along. 
The online gambling market has enjoyed unprecedented global growth and is projected to reach a value of <a href="https://www.businesswire.com/news/home/20230330005372/en/Global-Online-Gambling-Market-Analysis-Report-2023-2030-Ease-of-Access-Through-Increased-Smartphone-and-Internet-Penetration-Bodes-well-for-the-Sector---ResearchAndMarkets.com">US$153.57 billion by 2023</a>. Countries that embrace blockchain technology, like Australia, could find themselves ideally placed to become global hubs for operators. 
While online casinos are not currently permitted in Australia, online sports betting markets continue to flourish. As revenues continue to grow, Australia could potentially rethink its online casino regulations to benefit. 
In the meantime, blockchain gaming developers will continue to make use of the regulatory framework in Australia to grow in a safe market that is attracting a lot of interest. 
The post <a rel="nofollow" href="https://micky.com.au/blockchain-gaming-gambling-in-australia/">Blockchain Gaming &amp; Gambling in Australia</a> appeared first on <a rel="nofollow" href="https://micky.com.au">Micky</a>.

Blockchain Gaming & Gambling in Australia

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