With Bitcoin value constantly on the rise, it has become evident that regulatory frameworks surrounding its operations and other crypto-currencies should be put in place. Not to be left behind are online casinos which transact only in bitcoins.
Until recently, only China and Japan had shown unwavering desire to regulate bitcoin exchanges including casinos, now Australia has also joined the pack. According to www.casinopedia.org, in the year 2016/2017, Australian pokies suffered their worst trend ever since 2002 prompting fears that the gambling industry may be declining fast. This was majorly attributed to emergence of online casino games and illegal gambling website.
The Economist named Australia as the biggest online gambling heaven with a probable annual loss of 900$ per adult player. This report also predicts a 15% year-over-year growth in this industry.
Legalities & Regulations
Limited gambling opportunities pushed players into the black online markets and this prompted the A...!DOCTYPE>