Rainbet crypto: Bitcoin & co. in context

Which Rainbet crypto options exist, if any, depends on the current cashier. In principle a crypto payment runs through a wallet address and a blockchain network. Watch the right network, possible network fees and exchange-rate swings against the Australian dollar.

How a crypto payment works

  1. Choose the cryptocurrency in the cashier, if available.
  2. Check the displayed receiving address and the network carefully.
  3. Send the amount from your own wallet and wait for the confirmations.
  4. Keep in mind that the AUD value can fluctuate with the exchange rate.
Crypto transfers are usually irreversible. A wrong address or a wrong network can mean a total loss. Double-check everything.

What to keep in mind

  • Network: coin and network have to match (e.g. do not pick the wrong token network).
  • Fees: network fees apply regardless of the operator.
  • Exchange rate: the Australian-dollar value can change between deposit and withdrawal.
  • Buying coins: Australian exchanges are registered with AUSTRAC and run their own KYC; some banks limit transfers to crypto exchanges.
  • Verification: identity verification can be required for crypto as well.
  • Taxes: buying, selling or swapping crypto can be a capital-gains event in Australia, separate from any gambling outcome – the ATO looks at it; we do not give tax advice.

Crypto and the wagering credit ban

The 2023 amendment to the Interactive Gambling Act that banned credit cards for online wagering also restricts digital-currency deposits with licensed Australian bookmakers. Rainbet is an offshore operator outside that framework, which is why crypto remains available in its cashier. That is a fact, not a recommendation: crypto is the fastest method here, but it is also the one where a mistake cannot be undone.

Frequently asked questions

That depends on the current cashier. Check the available coins directly in the cashier.

Coin and network have to match. A wrong network can mean the payment is lost.

Usually not. That is why you should check the address and network carefully before sending.

Yes, the Australian-dollar value can change with the exchange rate.

The payment method does not change the legal position: Rainbet is an offshore casino without an Australian licence. The operator is on the wrong side of the Interactive Gambling Act; you as a player are not, but you have no Australian consumer protection.

This article was written by Jack Thompson.