How to Bet on Bitcoin Price in Australia.
Bet Right's Bitcoin markets let you back BTC to rise or fall without ever owning a coin. These are markets on the price. They are not a way to deposit, withdraw or pay with cryptocurrency. Bet Right does not accept crypto as payment and does not hold, buy or sell it on your behalf.
How to bet on Bitcoin
Betting on Bitcoin is not the same as buying Bitcoin. There is no exchange account, no wallet and no crypto to manage. You are betting on where the price sits at a stated time, with a stake and fixed odds, and every transaction is in Australian dollars.
Each market has a published target price and a published settlement time. At that time the rate is read from an independent source and the market settles. Over is the correct side if the rate is above the target price, Under if it is below. Prices are shown in cents on the market, moving between 0c and 100c while it is open, and convert to odds once a selection reaches your bet slip.
Bet Right offers these markets under a contingency declared under section 167 of the Racing and Wagering Act 2024, and is licensed and regulated by the Northern Territory Wagering Commission. See all crypto price markets.
Bitcoin betting markets and odds explained
Price at close
Whether Bitcoin finishes above or below a nominated target price at a nominated time. The target price, the settlement time and the source are all published on the market before you bet. Markets run over a range of durations, from 15 minutes upwards.
Price milestones
Whether Bitcoin is above or below a set price level at a stated time, over a longer window than a short duration market. The mechanics are the same: a published target price, a published settlement time, and settlement against the same independent source.
How to bet on Bitcoin at Bet Right in 5 steps
- Create or log in to your account. New to Bet Right? Signing up takes a few minutes. Existing clients can log straight in.
- Find the market. Bitcoin and Ethereum price markets sit under Crypto markets.
- Choose your side. Over or Under against the target price. Prices are shown in cents on the market and convert to odds when the selection reaches your bet slip.
- Enter your stake. The minimum stake is $0.25. Your potential return is calculated for you.
- Confirm. Review your selection and confirm. You will receive confirmation immediately.
Betting smarter on BTC
BTC 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 price in your bet slip before confirming.
Bet Right also supports 1-Click Bet for clients who want to place bets quickly without re-entering a stake each time. You can enable it 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 do not need crypto to bet on crypto. Every deposit, bet and withdrawal is in Australian dollars.
Safer 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 to help you stay in control. If gambling stops being enjoyable, support is available at any time on 1800 858 858 or at gamblinghelponline.org.au.
Bitcoin betting FAQs
Is betting on Bitcoin legal in Australia?
Yes. Bet Right is licensed in the Northern Territory and regulated by the Northern Territory Wagering Commission, and these markets are offered under a contingency declared under section 167 of the Racing and Wagering Act 2024. Most crypto betting sites an Australian sees in search results are offshore and hold no Australian licence. More on why that difference matters.
Do I need to own Bitcoin to bet on it?
No. You do not need a crypto wallet, an exchange account or any BTC at all. You are placing a bet on where the price sits at a stated time, and every transaction is in Australian dollars.
How are Bitcoin betting markets settled?
Against a published rate read from an independent source at the settlement time stated on the market. That source is FEX Global, the Australian futures exchange, in conjunction with Kaiko, an enterprise cryptocurrency market data provider, and it is approved by the Northern Territory Wagering Commission. Full settlement detail, including void rules.
Can I cash out a Bitcoin bet?
No. Cash out is not available on crypto price markets. A bet runs to settlement.
What happens to my bet if the market is suspended?
If a market is suspended, for example because of a significant breaking news event, your bet remains active unless the market is officially voided. If it is voided, your stake is returned in full.
Is there a minimum bet on Bitcoin markets?
The minimum stake is $0.25, the same as every other Bet Right market. Maximum stakes are set at Bet Right's discretion and can vary by market.
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