A Deep Dive into Payment Systems in Australian Casinos: POLi, PayID, and Crypto
The Australian gambling industry is growing rapidly, and deposit and withdrawal methods are improving along with it. Security, speed, anonymity and convenience are the main criteria by which local users choose payment instruments. While bank cards and transfers used to be the standard option, today the market is being actively taken over by such innovative solutions as POLi and PayID.
In this article, we will look at each of these systems in detail, comparing them in terms of convenience, security and compliance with Australian law. We will also discuss trends and possible future development of Aussie online casinos and their payment infrastructure.
Evolution of Payment Solutions
For many years, most users of Australian online casinos used bank transfers, Visa/Mastercard and the BPAY system. All of them had certain limitations: increased transaction processing time up to 5 working days) and were accompanied by high transfer fees. Such conditions forced developers to look for more technological alternatives.
This is how localised payment gateways emerged that support instant transactions and are designed specifically for the Australian market. Such methods include POLi and PayID systems. In recent years, interest in cryptocurrencies as the most confidential payment method has also intensified. Let’s take a look at their features.
Benefits of POLi
POLi is a payment service developed in Australia by Centricom. It allows users to make direct bank transfers in AU casinos without using a card or manually entering data.
POLi operates through online banking, which ensures that deposits are instantly credited. This makes it a convenient alternative to cards and PayPal, especially with the restrictions on credit cards in gambling.
To use the system, the user needs to specify POLi as a payment method and go to its interface. Then he chooses his bank from the list and enter the online banking data. Once the transfer is confirmed, the funds will instantly arrive to the online casino account.
Unlike PayPal, POLi does not require separate registration and also offers a high level of security. However, some banks restrict its use for gambling.
Features of PayID
PayID is a national instant transfer system created as part of the New Payments Platform (NPP) initiative with support from the Reserve Bank of Australia. It allows you to transfer money using a simple identifier: phone number, e-mail or ABN (Australian Business Number).
The process is organised as follows: first Australian online casinos provide their PayID, and the user needs to specify it and the amount of the transfer in their banking application, and then simply confirm the transfer. The funds are credited to the account instantly.
With PayID, you’ll have access to instant transfers 24/7, even on weekends. The system is supported by almost all Australian banks where you need to enter long details or use a card. That said, PayID works for both deposits and withdrawals.
However, some banks may require manual confirmation for new PayIDs, and the user gets a lack of complete anonymity as the sender’s name is often displayed in the online casino system.
Anonymity and Freedom of Cryptocurrency
Since 2018, Australian users’ interest in cryptocurrencies at online casinos has grown significantly. Platforms such as Stake.com, BitStarz, Hellspin and BC.Game allow transactions in Bitcoin, Ethereum, Litecoin, Dogecoin, Tether (USDT) and other assets.
Today, crypto-payments have certain advantages:
- Anonymity – users are not required to use a bank account;
- Decentralisation – transactions have no intermediaries;
- Instant transactions – depends on the blockchain provider;
- Withdrawal option – faster than with other systems and services;
- Global – you can play even from abroad without losing access to funds.
At the same time, the final transaction amounts depend on the volatility of the exchange rate: the amount of winnings can fall sharply. Also, in case of an error when entering the address, you risk losing all the funds.
Legal Framework and Regulation
Under the Interactive Gambling Act 2001, online casinos that offer their services in Australia are required to comply with a number of conditions including anti-money laundering (AML), age and residency verification, Responsible Gambling.
The use of POLi and PayID is regulated by banks and requires compliance with KYC (Know Your Customer) regulations.
Cryptocurrencies are in a “grey area” when doing so. Although they are not prohibited, most Aussie licensed online casinos do not accept such payments.
The Role of Mobile Devices in Payment Processes
From 2020, more than 70 per cent of bets in Australian online casinos are made via smartphones. This has necessitated the adaptation of all payment solutions to the mobile environment.
In the case of POLi, not all banks allow authorisation via a mobile browser, so users often have to navigate to the full version of the website. PayID is fully integrated into banking applications, which is very convenient for use on mobile devices. And it is possible to conduct transactions with cryptocurrencies using mobile wallets. Besides, in the systems of many online casinos you can simply scan a QR code and instantly make a transaction.
As for the users themselves, according to AU casinos reviews they choose PayID for speed, prefer POLi for familiarity and simplicity, and use cryptocurrency for complete anonymity.
Trends in Payment Solutions
The following innovations in payment services await the AU casinos industry in the coming years:
- Biometric payments – in 2025, it is planned to introduce fingerprint or face identification for transactions via PayID;
- CBDC (Central Bank Digital Currency) – The Reserve Bank of Australia is testing a digital Australian dollar;
- NFT and Web3 – some cryptocasinos are already implementing NFT avatars and tokens used for betting or receiving bonuses.
Each system has its own peculiarities and risks. Therefore, the best solution is a combination of several tools that take into account your playing style and needs.
