Australia has a special place in its heart for all things related to Blockchain. It is one of the countries that are most friendly towards new technological development. You can see this in the fact that there are so many crypto exchanges working within the country, or the fact that you can purchase cryptocurrencies for ash in physical locations or the fact that there have been so many ICOs and crypto startups originating from the country.
Whatever you look at, the fact is that there is enough evidence to support the fact that Australia believes crypto and blockchain to be the future in one way or another. So why would people be surprised when they discover that cryptocurrency has seeped into every level of the country? Especially when it comes to Australian online casinos, people should stop acting surprised to see cryptos become an integral part of the industry. After all, the ease that the cryptos are so famous for and the speed with which the transactions can be made make cryptos the perfect currency in most situations related to casinos. But there is more to it than just the fact that cryptos are simply loved for how convenient they are.
Taking a closer look at the industry
Australians have been famous around the world for a number of reasons, but one of the reasons is because they love gambling so much. At some point in the past few years, estimations were made that throughout the year most of the population of Australia gambled at one point or another. While the industry might be robust, this has been seen more and more often as an issue by the local and international governments, calling them out on the problem. The result is that the Australian government has been taking action in order to reduce the level of gambling that takes place in the country.
While the physical locations that enable gaming have not been decreasing, what Australia did was decrease the number of online locations that can be accessed or gaming. They did so simply by banning all online casino locations within the country that were provided by Australian casinos.
Now they only allow international casinos to offer their services within the country, which has become a little bit problematic in of itself. The reason for the problems arising from these are numerous – by only allowing international online casinos, the government has less control over which casinos are actually valid and which are not. Furthermore, the government has less access to information on which casinos are offering services within the country, and there is a chance that some casinos that are not valid might slip through unnoticed. Beyond just control though, more problems have arisen in terms of payments, transactions and other processes that might take either too long or become too expensive.
This is where cryptocurrencies came into play. Australians realized that they would be able to conduct transactions at a very high rate, without an issue, if they used certain cryptocurrencies. The fact that these cryptocurrencies were easy to get within the country and that sending them abroad was incredibly easy made the entire process of playing with casinos abroad much easier. The international casinos also came to realize that there was a good chance that they would be able to increase the number of their clients if they offered the service. Which is how a number of international casinos became especially popular with Australians – they start offering cryptocurrency services.
While this has also recently caused a surge in the number of companies looking into developing related content. Blockchain games, blockchain payment systems, even internal blockchain systems have come under development by certain companies, because of the level of interest that people have in cryptos and the blockchain tech within the country. Yet, even if it all seems perfectly normal in its development, there is one little detail.
Cryptocurrency casinos, despite their popularity, have also been exploited by scammers. In the past years, 2017 and 2018, some scam websites posing as cryptocurrency casinos have been able to steal around 4 million US dollars from the Australian populations With the victims being aged rather young, it seems like the disguise of a crypto casino works really well for Australian populations.
The problem here lies not with cryptos, but with the attitude that Australia has towards casinos, which was mentioned before. The fact that the government has little control over what casinos end up within the country results in certain scams spilling through along with the legitimate casinos. These scams, seeing the popularity of crypto, take things a step further and cause trouble for everyone that is fond of the industry, by stealing their money. The solution here would be for the government to rethink its current attitude towards cryptos and alter it to something more constructive.