Crypto has become the hot topic of the moment, and each day altcoins expand into a broader market. More people started taking courses, learning about alternative currencies, and investing in them.
The iGaming industry has long been accepting crypto payments. Some casinos even have special digital coins players can use for different games. Let’s review these crypto casinos statistics.
The online gambling industry is one of the first to use crypto. Some businesses developed dedicated crypto-gambling websites with dozens of coins. They offer bonuses and welcome offers that are calculated individually depending on how well the coin is doing.
The first thing you can do in an online casino with crypto is to deposit and withdraw money almost instantly. Unlike some fiat payment methods that can take up to 7 working days to get your winning into your bank account, crypto is instant.
An online gambling establishment that offers crypto and fiat payments won’t limit game access to crypto/fiat players. You can even pay with both currencies; it’s only up to your preferences.
Statistics on crypto casinos
Dedicated crypto casinos created a trend that you must recognize. The gambling market has over 70 crypto-only online operators. Moreover, about 47% of online gambling entities accept both altcoins and traditional payments.
This simplicity and the wide variety of choices made more gamblers start using crypto while gambling. At the beginning of 2021, around 22% of the total bets were placed with altcoins. One year later, bookmakers and crypto casinos showed a 115% growth in crypto wagers.
Industry experts from Casinobonusca found that fiat betting went from 88% in 2020 to 65% by the end of 2021. In 2022 the downfall of fiat wagering was not that abrupt anymore, so it stagnated at around 54%.
Bitcoin is the most popular crypto coin and deserves all the fame and attention it gets. Currently, more than 80% of crypto gambling is done with Bitcoin. The second place goes to Ethereum, which convinced about 10% of bettors to use it. Litecoin, in 2022, had around 6% of the total altcoins wagers, and other coins like Dogecoin, Ripple, or Cardano combined have the remaining 4%.
What are future expectations?
Crypto experts believe 2023 won’t be as promising as it could be. The potential is enormous, but the world’s economy will enter a difficult period. The crypto gambling industry won’t crash, and it won’t lose its value, but the growth will be about 15%.
This market depends on two factors: the people and the businesses. If more gamblers take an interest in crypto and use it more often, the expansion will reach new heights. More companies will certainly adopt this payment method and add a broader range of coins.
If you have already started thinking about using your coins, don’t forget to verify the casino’s reputation, rules, and bonuses. Besides that, look at how much crypto casinos influenced the whole gambling market. You can now plan your next crypto trip to Las Vegas because the land-based Strip casinos have started accepting Bitcoin for gambling, hotels, and accommodation.
This is necessary not only to ensure that the operator indeed offers crypto payments but also for safety. Each country has its laws, and most require an operating license from the casino. Without it, the casino cannot function legally. Although in 2022, there are not many reputable casinos without a gambling license, you still want to check it. You can see that info at the bottom of the Homepage.
Each gambling establishment has its rules, and you need to know about their taxes and why they can close your account. On those pages, you’ll also find information about payment processing time and fees, encryption, and responsible online gambling. The operator will explain there every aspect of the casino; you can skip some but make sure you read the page.
As mentioned before, online casinos offer different types of bonuses. Usually, crypto casinos have welcome bonuses and seasonal promotions. After reading their terms and conditions, both categories are safe to try, but you can refuse to use them if you’re not interested. They don’t have a twist, nor will they try to fool you; their rules are clear, and you’ll most probably find more answers in the casino’s FAQ section.
2021 is the year that made multiple top-tier operators consider implementing crypto payments. This is why 2022 stats showed a massive increase in crypto gambling revenue and overall trading. 2023 will be an essential moment in history for crypto gambling. The experts foresee a recession and global economic crisis of grand proportions.
However, at the same time, many governments propose to analyze and rewrite gambling laws. Many of them have already thought about implementing a regulatory body for gambling and betting.