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Today, cryptocurrencies are becoming more and more popular among online betters all over the globe. Initially, cryptocurrencies became available as a payment method on particular casino websites in the early 2010’s more like an experiment and were perceived rather as an original feature that was used only by a small percentage of players. However, as the cryptomarkets evolved and many new currencies were introduced, this option started to become a real benefit for starting an iGaming business that adopted the crypto payment transactions.
Lately, many forward-looking betting operators have been launching crypto brands that do not feature any of the national currencies at all, which does not seem risky anymore as betters are getting more into the conveniences of crypto transactions. In the present blog, we will outline the major trends in crypto gambling that will be useful to know for entrepreneurs who are considering starting a crypto casino from scratch.
Crypto Casinos today
In 2021 many major cryptocurrencies like Bitcoin had reached their peak value, stirring up the interest of market traders and pretty much everyone who makes online payments with cryptocurrency. Naturally, this swift rise opened many new opportunities for casino and sportsbook operators as well. Such cryptocurrencies as BTC, ETH, and BNB showed potential for sustainable growth starting from 2020. This had an increasingly positive effect on the global crypto betting market and crypto betting in particular.
Crypto vs. Fiat
Currently, casinos that offer bets only in cryptocurrencies are still some kind of novelty for the majority of players. Nevertheless, many betters find it a great benefit to have some of the most popular cryptocurrencies at hand. Casinos and sportsbooks credit them to the player’s account just as fiat ones. Also, the player can switch between currencies at any time.
The research shows that the significant rise in popularity happened throughout 2020 - 2021. Top brands report an increase in bets made with cryptocurrencies from 15% to 40% during this period. Apart from it, cryptocurrencies allow players to avoid long payment processing. Crypto transactions do not depend on banking hours and can be made at any time. At the same time, this method does not compromise the security of your players’ funds in any way.
Top Cryptocurrencies for Casino and Sportsbook
There are several major cryptocurrencies that dominate the global iGaming market nowadays. In most cases, those are the most stable currencies that have either low or stable inflation or growth. Throughout 2020 - 2021, the lion's share of the iGaming crypto markets were using Bitcoin as the primary crypto. The analytical reports claim that BTC has been used by 78% - 86% of players. Thereby, BTC is the essential crypto and the first one to be featured once you are planning to create a crypto casino or a crypto sportsbook. The other crypto brands that are worth noting here are ETH (6,5% - 9%), LTC (4%), DOGE (1,5% - 4%).
Also, the data shows that casino operators are more likely to integrate crypto payment systems into their brand than a sportsbook brand. However, an iGaming provider that offers both products on a single platform is very likely to offer a wide choice of the most popular crypto methods as well.
Final Thoughts
Integrating cryptocurrencies into an iGaming website is an easy and cost-effective way to increase the audience of players and betters of your brand website. NuxGame offers easy and fast banking solutions for integrating top crypto methods as well as ready-to-launch crypto casinos made according to your configuration. For more information, contact our representative via live chat or email.
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