How to Bet on Bitcoin Price in Australia.

Want to bet on Bitcoin? Bet Right's Bitcoin betting markets let you back BTC to rise or fall without ever owning a coin. You'll find Bitcoin price betting odds on milestones, closing levels and crypto event markets - all priced, placed and paid out in Australian dollars.

How to bet on Bitcoin

Betting on Bitcoin isn't the same as buying Bitcoin. There's no exchange account, no wallet and no crypto to manage - you're simply taking odds on a Bitcoin price outcome. Most Bitcoin betting markets ask one thing: will BTC finish above or below a set level, or hit a milestone by a set date?

These are speculative markets, similar in structure to other financial or novelty betting markets, and are resolved based on publicly verifiable price data from major crypto exchanges.

Bitcoin betting markets and odds explained

Price milestones

Will Bitcoin reach a new all-time high by the end of the year? Will it fall below a set price threshold? These milestone markets let you back your view on where BTC is headed.

Price at close

Some markets let you bet on whether Bitcoin will close above or below a specific price on a given date, think of it like a line market for crypto.

Novelty and event markets

Bitcoin-related events, regulatory decisions, major institutional announcements, and ETF approvals can all generate dedicated betting markets. 

How to bet on Bitcoin at Bet Right in 5 steps

1. Create or log in to your account: New to Bet Right? Signing up takes a few minutes. Existing customers can log straight in.
2. Navigate to the relevant market: Bitcoin and any other authorised cryptocurrency markets such as Ethereum typically sit under Crypto markets.
3. Select your outcome: Choose the side you want to back and it'll appear in your bet slip.
4. Enter your stake: Enter the amount you'd like to wager. Your potential return will be calculated automatically.
5. Confirm your bet: Review your selection and confirm. You'll receive confirmation immediately.

Betting Smarter

Bitcoin markets can move fast. Because crypto prices are volatile, prices on these markets can shift significantly in a short time - especially around major news events. Always check the current price before confirming your bet.

Bet Right also supports 1-Click Bet for customers who want to place wagers quickly without re-entering their stake each time. You can enable this in your account settings.

Depositing and withdrawing

Fund your account in seconds with PayID Instant Deposits, Apple Pay or Google Pay. Bet Right is an Australian licensed bookmaker, so you don't need crypto to bet on crypto - every deposit, bet and withdrawal is in AUD, and Fast Withdrawals get your winnings back to you in no time.

Responsible gambling

Betting on Bitcoin - like all forms of gambling - should always be done within your means. Bet Right offers deposit limits, cooling-off periods, and self-exclusion options to help you stay in control. You can manage all of these in your account settings.

Bitcoin Betting FAQs

Is betting on Bitcoin legal in Australia?

Yes. Betting on Bitcoin price markets through a licensed Australian wagering operator is legal. Bet Right holds an Australian wagering licence and operates in compliance with all applicable regulations. Note that this is different from buying or trading cryptocurrency, which is governed by separate rules.

Do I need to own Bitcoin to bet on it?

No. You don't need a crypto wallet, an exchange account, or any Bitcoin at all. You're simply placing a wager on an outcome, Bet Right settles markets based on publicly available price data, and all transactions happen in Australian dollars.

How are Bitcoin betting markets settled?

Bitcoin markets are settled against a specified price benchmark at the time and date stated in the market rules. This is typically the spot price sourced from one or more major cryptocurrency exchanges. The exact settlement source is listed in the market terms before you place your bet.

What happens to my bet if the market is suspended?

If a Bitcoin market is suspended, for example, due to a significant breaking news event, your bet remains active unless the market is officially voided. In the event of a void, your stake is returned in full. You'll be notified of any changes to your bet via your account.

Is there a minimum bet on Bitcoin markets?

Minimum bet amounts vary by market. The minimum stake will be displayed in your bet slip when you add a selection. Standard Bet Right minimums apply unless otherwise stated in the market rules.