Originally posted on 03/26/2018:
I don't know the gambling laws in Australia, but it says:
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.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.
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.