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5 Reasons Why Crypto Is Taking Over iGaming

Uncovering the top 5 reasons why cryptocurrency is quickly becoming the must-have feature in iGaming.

Magnus Oliver
Magnus Oliver
February 21, 2024
5 Reasons Why Crypto Is Taking Over iGaming

In the ever-growing world of online casinos, crypto payments are becoming a game-changer in iGaming, redefining the dynamics of gambling and sportsbook platforms. Leading this digital revolution are pioneers like Stake.com and 7Bit, which have garnered massive success by integrating crypto payments into their site.

The statistics for crypto in iGaming has been nothing short of remarkable, with data showing a remarkable 55% of Bitcoin transactions are related to gambling, indicating the pivotal role of cryptocurrencies in facilitating online bets. Forecasts also suggest the crypto gambling market could hit $93 billion by 2023, highlighting the sector's exponential growth. Additionally, a 2022 PlayToday survey found that 27% of U.S. online gamblers used crypto in the past year, showcasing its growing acceptance. These figures underscore cryptocurrencies' ability to continue to revolutionize iGaming, facilitating private and globally accessible online gambling experiences. With that being said; Here’s 5 key highlights of how crypto payments have already began to reshape online casinos and sports betting platforms:

1. No Chargebacks

Unlike conventional payment methods, cryptocurrency payments are irreversible, drastically reducing the risk of fraud. This characteristic enhances the security and trustworthiness of online gaming platforms, making crypto payments an ideal choice for gambling and sportsbook transactions.

2. Enhanced Security and Privacy with Crypto Payments

With crypto payments, deposits on platforms like Stake.com and 7Bit are not only encrypted but also decentralized. This means that when making deposits in crypto, gamers can enjoy their favorite games with the assurance that their financial information is protected against potential threats, ensuring a secure and private gaming environment. Using affordable VPNs can further enhance this security by adding an extra layer of privacy to transactions and gaming activities.

3. Experience Instantaneous Transactions

The agility of crypto payments enables instant deposits and withdrawals, setting them apart from the slower traditional banking methods. By leveraging crypto payments online casinos can offer their players immediate access to their funds, facilitating a smoother and uninterrupted gaming experience. This instantaneity is crucial for maintaining the excitement and flow of online gambling and sportsbook activities.

4. Global Accessibility

Crypto removes geographical barriers, allowing players from all corners of the globe to engage in online gaming effortlessly. This borderless nature of crypto payments offers online gaming platforms like Stake.com to offer a wide array of games to a diverse international audience, free from the limitations imposed by fiat currencies.

5. Much Lower Transaction Fees  

Integrating crypto payments for online casinos results in significantly lower transaction fees compared to traditional banking methods. This reduction in overhead costs not only increases the value of players' winnings but also boosts the profitability for operators, fostering a win-win scenario for both parties involved. Importantly, crypto payments for online casinos circumvent the high-risk fees typically associated with casino operations, enhancing the financial efficiency of these platforms.

The future of crypto payments for online casinos and sportsbooks

As cryptocurrencies continue to reshape the online casino and iGaming sectors, platforms like Stake.com and 7Bit are at the forefront of this transformation. These changes not only enhance the gaming experience but also promise a future where online gambling and sportsbook platforms are more secure, efficient, and accessible. For those keen on leveraging the benefits of crypto payments for online casinos or iGaming ventures, our platform offers comprehensive solutions, including a hosted checkout product, integrated payments, and no-code payment links.

Interested in learning more?

Get started revolutionizing your igaming platform today by exploring Radom’s crypto payment gateway dashboard to get started.

Dive deeper into how Radom’s hosted crypto checkout product, white label crypto payments, and no-code crypto payment links can elevate your online casino or iGaming platform. Embrace the future of gaming with crypto payments, and join us in leading the charge towards a more innovative and secure online gambling experience.

Ready to start accepting crypto payments?

With Radom, crypto payments become straightforward. Tap into our user-friendly platform for all your crypto billing needs.