Originally posted on 03/26/2018:

Quote Originally Posted by grs123 View Post
thanks optional after looking into it more its just on capital gain you have to declare..ill do the withdrawal as quick as possible so wont be a problem. Wanted tips such as yours on which bitcoin sites to use. Was thinking coinjar but now might use independantreserve. Is coinbase best to withdraw it to first before moving it to independant reserve if im in australia?
I don't know the gambling laws in Australia, but it says:

Finally, You agree that You will not use the Service to perform criminal activity of any sort, including but not limited to, money laundering, illegal gambling operations, terrorist financing, or malicious hacking.
Optional could probably answer this since he's more familiar with the Australian gambling laws, but as long as you're withdrawing from a legal Australian sports book, you can deposit directly into Independent Reserve and then sell the Bitcoin and withdraw the FIAT.

If it's a grey area, then withdrawing to an intermediary wallet (Coinbase would have the same problem as IR in terms of their terms of service) such as Electrum would be better and then sending the Bitcoin from the intermediary to Independent Reserve.

However, if you're withdrawing six figures, the safest would be getting a "cold" intermediary wallet such as a Ledger Nano S or Trezor wallet (costs around $100). Electrum is fine and you should be safe if you're going to immediately transfer the full amount from the intermediary to IR once you receive the Bitcoin. However, being a "hot" wallet, they carry the risk of being hacked since they are connected to the internet; where a "cold" wallet, like a Ledger, is not connected to the internet.