A Comprehensive Guide to Online Gambling in Australia
There are absolutely loads of different people in Australia who enjoy gambling online every day, whether it’s by having a few spins of the reels at an online pokie, or by betting on the day’s biggest horse race. But what are the laws surrounding online gambling in the country, and do Australians need to pay tax on their winnings? Keep reading to find out…
Is Online Gambling Legal in Australia?
The main rule governing online gambling in Australia is the Interactive Gambling Act 2001, which was introduced to protect Australians from any harmful effects that online gambling could have. It does not make it illegal for Australians to play at online casinos though – it simply prevents any companies within Australia from operating an online casino. This means that many Australians play at offshore online casinos each and every day. The law also doesn’t have any provisions for online sports betting, which is completely legal for companies to offer within the country’s borders.
Are Online Gambling Winnings Taxable?
Any winnings received by online gamblers in Australia are not subject to taxation, and this is for a few reasons. Firstly, gambling is not considered a profession, but is instead considered a hobby. Secondly, any winnings are seen as good luck, and not income. Finally, the Australian government still receives tax from online gambling, but it is paid by the operators, and not by the individuals betting on their sites. The government also charges licencing fees to any gambling sites based in the country.
How Australian Players Make Deposits at Online Casinos
Depositing at an online casino is extremely easy for Australian players, as the lack of regulation for individuals means that all major payment options are available. Most Australians will choose to deposit using a credit/debit card though, as it is the most convenient option, plus usually offers the lowest fees. Should it not be possible to deposit using a credit/debit card, there are many other services open to Australian players, including Skrill and Neteller, both of which are names strongly associated with the online gambling industry.
It should also be mentioned that many online casinos offer AUD as a currency, which is clearly incredibly useful for a player in Australia. This is because players won’t have to incur charges for converting their funds, and they can also keep a much better eye on how much they are spending.
The Best Software for Australian Players
There really is no “best software” for Australian players, as it really depends on the type of games a player enjoys. For those looking to play classic pokies, Microgaming is a good choice; for those who like modern, 3D slots, BetSoft is a great choice; and there are also many other fantastic software providers, including IGT, Playtech and NetEnt. All of these different software companies provide software to casinos that are accessible to Australian players, meaning that those in Australia have an absolutely huge range of games to choose from.
Resources for Australian Gambling Fans
Find online casinos to play at and learn what you need to know before getting started with some of these fine gambling guides for Australian players.