Online gambling is legal in Austria. Furthermore, Austria allows Bitcoin and other cryptos within its borders. This means you can gamble online at any of the legal crypto casinos in Austria. While online gambling regulations apply to Austrian citizens, they don’t extend to foreigners living in the country.
A crucial point worth knowing is that Austria doesn’t regulate its crypto casinos in the same manner as other online casinos. This article is about the various crypto casino sites in Austria, and the applicable tax laws governing online gambling.
History of gambling in Austria
From as early as the 17th century, gambling in Austria has been a source of entertainment for people from the lower social strata, spending their free time playing ball and dice games. This popular obsession extended into public holidays and fairs, with public spaces filling with people gambling or watching.
At the beginning of the 18th century, the more affluent class in the community joined the gambling trend. And since then the craze helped propel the growth and popularity of gambling in Austria to what we see and enjoy today.
Regulations for online gambling in Austria
The Austrian Gambling Act or the GSpG 1989 regulates all forms of gambling, including online gambling, in the country. Furthermore, the licensing authority for online casinos is the Ministry of Finance or the BMF, and it decides which games of chance must be regulated.
Austria’s laws regarding international casino sites are clear. For instance, the official website of the Ministry of Finance said that cross-border supply of gambling activities is not allowed. Furthermore, all international gambling websites must be subjected to national laws, and these entities can’t advertise themselves.
Austria’s regional governments also regulate gambling. But this regulation covers traditional sports betting activities.
Tax on cryptos in Austria
Unlike the Euro or the US dollar, Austria doesn’t consider cryptos as legal tender. Instead, the Ministry of Finance considers BTC and other cryptos as a digital representation of value. While the Austrian Central Bank doesn’t control this value, Austrians can exchange cryptos for transferring value.
Austria has a flat tax rate on all crypto-related earnings, which is 27.5%. However, this tax law applies only to those cryptos acquired after February 28, 2021. This means any BTC earnings in Austria will be taxed at the aforementioned rate. The Austrian government doesn’t charge your earnings from crypto casino sites.
What is crypto gaming?
In crypto gaming, players own the assets acquired while playing and can then exchange those assets for fiat or another cryptocurrency. You can also purchase non-fungible tokens (NFTs) with your crypto-in-game currency.
So how does crypto gaming work? Traditional online casino games are centralized, which means their assets are held by the casino and can’t be used elsewhere.
On the other hand, in crypto gaming, everyone linked with a game owns a part of that crypto game. You can use a few characters from one crypto game in another one. Furthermore, you can transfer your purchases and rewards from one crypto game to another. Now, let’s look at the advantages of playing on Bitcoin casinos in Austria.
Crypto casinos and their advantages
Crypto-based online casinos offer major benefits. Some of these include the following.
Security and safety
As you know, you must share your personal information like your card account number, with an online casino before starting. Unsurprisingly, this information often gets leaked out to third parties.
This isn’t the case with crypto-based gambling sites in Austria. Here, your credit/debit or bank account numbers stay safe and private, as only the authorized personnel handle such details. Furthermore, your crypto casino provides you with an alphanumeric address that hides your real identity.
Crypto casino sites in Austria are invariably transparent while dealing with their customers. These online gambling platforms never make false promises, and always pay their customers on time.
As you know, some cryptos like Bitcoin are highly volatile, and you can benefit from this quirkiness. Imagine a scenario where you win a few crypto games and land a big win. If the crypto in question is rising in value, your net win goes up too. This isn’t possible in fiat money online casinos where the value of the currency remains stable.
Fewer transaction fees
Negligible transaction fees are one of the defining factors of crypto casinos in Austria. Nobody wants to pay any fees on their deposits and withdrawals and that is why many sites with crypto games in Austria have zero transaction fees.
In some cases, you might have to pay some fees for processing your withdrawals, but these amounts are lesser than in traditional gambling sites.
Choosing the best crypto casino sites in Austria
You can consider the following factors while selecting the best crypto-based gambling sites in Austria.
Range of crypto games
While there are more than 1,550 crypto games worldwide, look for online casinos which have some of these crypto games:
- Battle Infinity
- Plant vs Undead
- Gala Games
It’s worth mentioning that crypto games are available on Polygon, Harmony, Solana, Ethereum, and many other blockchains.
While crypto-based games have been around since 2017, we’ll still explain what this concept means.
Rewards and promotions play a crucial role in any crypto casino site’s reputation. Good gambling sites usually pay a welcome bonus to their new customers. Welcome bonuses help players to land big wins without spending considerable money.
In addition to welcome bonuses, crypto casino sites in Austria also give other rewards such as loyalty bonuses, high-roller bonuses, and refer-a-friend rewards. Sometimes, you may also receive free spins from these gambling websites.
Please note that these bonuses and promotions come with several rules and wagering requirements. Since these bonuses are time bound, claim them as soon as possible.
Make sure your crypto casino has a license from the Special Responsibilities Unit of the Government of Austria. Licensed casino sites, besides being safe, also pay their customers on time.
Check whether your crypto casino site has an SSL certificate. SSL-certified sites protect their data by hiding it under a virtual tunnel. If you aren’t sure if your platform has this document, check the former’s URL. A lock-like symbol in the URL means the casino is SSL-certified.
Good crypto casinos in Austria offer 24/7 support to their customers, which is in the form of live chat, email, phone, and frequently asked questions (FAQs) section on their website.
In most cases, the live chat window is present right on the home screen of your crypto casino. The wait time is under two minutes and most of the answers you get are short, friendly, and relevant.
You can save time by consulting the FAQs section, which usually has answers on payments, account verification, and game rules.
While leading crypto casino sites in Austria have games from top blockchain developers, they also work with traditional gaming providers.
A few top blockchain gaming providers are Sorare, Open Sea, Decentraland, Axie Infinity, and The Sandbox.
If you are someone who prefers traditional online games, look for these software providers:
- Iron Studio, and others.
Deposits and withdrawals
Good crypto casinos in Austria process all deposits and withdrawals within 10 minutes. This is another advantage of these gambling websites because traditional casino sites are a lot slower when it comes to making payments. For instance, bank transfers to and from traditional gambling websites may take up to five business days.
Although crypto-based payments are hassle-free and quick, you may still want to keep other payment options handy. That’s why several Austrian crypto casino sites also work with Visa, Mastercard, PayPal, EcoPayz, and other reputed brands.
Popular online casino games in Austria
Austrians take to online gambling in a big way. For instance, iGaming was the fastest-growing sector in Austria in 2017, reaching Euro 283.
The most popular online games in Austria are:
- Daily and Progressive jackpots
- Instant Win games
- Live Dealer
Many Bitcoin casinos offer all four versions of slots, namely classic, video, 3-D, and progressive slots. Furthermore, some of these games are free. Also, make sure all these games are mobile-friendly and can be played on several iOS and Android devices.
Table games include baccarat, roulette, and blackjack, and these games have a low house edge. The term house edge refers to the casino site’s mathematical advantage for a specific game. Many online gamblers prefer table games for their high payouts.
Signing up with crypto casinos in Austria
Registering with any Austrian-based Bitcoin casino is straightforward. Here are the steps:
Create a new crypto casino account
Click the Sign-Up or Register button and enter your name, email address, and a few other personal details. Agree to the site’s terms and conditions before moving to the next stage.
Verify your email address
Check your inbox or spam folder for any email verification link from the crypto casino. Click it and verify your email address.
Make your first deposit
Now it’s time to make your first deposit. Connect your crypto wallet with the online casino and deposit the minimum amount asked. Since many crypto casinos give welcome bonuses to fresh players, check your inbox for any welcome package. Claim your welcome bonus and start playing games.
The future of gambling in Austria
In a move to improve transparency and cover loot boxes, the Austrian government intends to create a new supervisory body to take up gambling regulations in Austria. The shift from the Austrian Treasury will bring in new transparency rules and player protection controls for both online and land-based gambling.
The government also aims to implement strict monthly deposits, playing time, and stake limits for online gambling to control players affected by addiction which has consequences on their financial and psychological state.
Here are answers to some of the most common questions on the topic.
Which games can I play on crypto casinos in Austria?
You can play slots, table games, fixed and progressive jackpots, specialty games, poker, and video poker on Austrian crypto casinos. Usually, these casino sites offer classic and video games, all of which can be played on phones also.
The table games section includes baccarat, blackjack, and all three versions of roulette. Many crypto casinos in Austria also have specialty games, such as bingo. Lately, players can also enjoy live dealer games and crypto games, such as Battle Infinity, Pegaxy, and Plant vs Undead on these gambling websites.
Are crypto casino sites in Austria safe?
Yes, all crypto casino sites which have licenses from regulators are safe. These entities are also trustworthy because they use the latest encryption technologies. Encryption is the process by which you hide your data from hackers.
Many of these websites have random number generators. These are tools which generate fair results. Furthermore, these tools run independently and are monitored by third-party auditors.
What bonuses are available on crypto casino sites?
You can receive welcome bonuses, reload bonuses, loyalty rewards, cashback, and high-roller bonuses from these websites. Crypto casinos in Austria usually offer deposit-based welcome bonuses to their new players. But there are also sites with no-deposit bonuses. You can also expect free spins in your welcome package.
Every welcome bonus package is time-bound and is subject to several rules, particularly wagering requirements. Wagering requirements tell you about how you can withdraw your bonus earnings.
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