Online bookmaker Neds has become the first Australian betting operation to launch a cryptocurrency platform for punters to place bets on racing and sports markets.

Neds.com launched in Australia in October and has quickly cemented themselves as one of the main online bookmakers in the country with 75,000 clients on their books in a four month period of operation.

Neds CEO Paul Cherry told The Australian Financial Review that the platform was not a stunt and that it fit their demographic of 18-35yo males who were aware and using cryptocurrencies especially Bitcoin on a daily bases.

“We strongly believe in bitcoin and cryptocurrencies as a viable and secure method of online exchange. With this announcement we wanted to ensure that Australians who share our positive outlook on cryptocurrencies can use them to bet with us,”he said.

“We’ve always prided ourselves on being a technology company. We’re not just sports and racing enthusiasts and bookmakers – we’re also programmers, analysts and computer nerds – so this felt like a natural step for us. And we think there is a lot of crossover into that target market.”

Neds who pride themselves on not only being a bookmaker but also a technology company say this is an example of the business staying ahead of the competition in what is now a very competitive market.

How It Works:

Deposit: Punters can deposit from your Crypto Currency wallet into the Neds Wallet.

Placing Bets: Once your funds are available for you to use, you will be able to place your bets in the crypto currency that you deposited.

Withdrawing: When you are ready to withdraw from Neds Crypto it’s as simple as entering your wallet and pressing withdraw.

Site: View Neds Crypto site here.

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*Existing customers only. 2nd Racing bet. Excl SA & WA. T’s & C’s apply. Gamble responsibly.