Aussie Regulator Snuffs Out Bitcoin Wagers

Follows launch of bitcoin-funded betting by Australian bookmaker Neds

A report in the Australian Financial Review (AFR) over the weekend details the Northern Territory Racing Commission’s (NTRC) rejection of cryptocurrency-funded wagering following the launch of bitcoin functionality by Bookmaker Neds late last week.

According to AFR the NTRC made its stance clear with a formal notice to all registered bookmakers to cease crypto-currency-funded wagers.

“The chairman of the Racing Commission … is intending to issue a formal communique to all sports bookmakers and betting exchange operators licensed in the NT if currently transacting in cryptocurrency (for example Bitcoin, Ethereum and the like) for their wagering operations to immediately cease and desist,” the notice reads.