The Impact of Digital Currencies on Gambling Games

Bitcoin is considered the first cryptocurrency, which later exploded the gambling industry. Due to a sudden surge in popularity in 2024, a huge number of crypto iGaming sites appeared. It caused investors to become active, counting on the global growth of the gambling sector with cryptocurrency in the next few years. 

Professionals of our team have long been observing the development of blockchain online casinos. It allows us to tell players about the influence of digital money on the industry’s development in general.

Positive Influence of Crypto on the iGaming Industry

Thanks to the scalability of digital currencies, enthusiasts of Bitcoin casinos can use their assets for storage or purchases. They can also use them with the goal of getting fun emotions from gambling. 

One of the key advantages is that Bitcoin enables lightning-fast transactions. That makes it ideal for players who prefer instant cash-out casino experiences. We have compiled a list of the main factors explaining the positive influence of cryptocurrencies on the gambling entertainment sphere:

• Expansion of access for players from prohibited countries

In many countries, online casinos are prohibited. However, it does not reduce the desire of players to enjoy their favorite online pokies in the company of fun movie heroes, story characters, or fictional characters. Thanks to cryptocurrency anonymity, players from prohibited regions can easily gain access to gambling platforms without restrictions.

This approach is also interesting for software developers. If you cannot enter the market due to state prohibitions, cryptocurrency will open borders. They will bring you a new audience of gambling enthusiasts. It is confirmed by specialists from Checkout, whose analysis showed that almost 80% of the growth in cross-border sales is due to the inclusion of cryptocurrencies in the list of acceptable payment methods.

According to our research, today, more than 60 countries and territories have already connected cryptocurrency and are successfully using it. That includes the following states:

• Australia
• Ukraine
• CFA
• El Salvador
• European region

Thus, iGaming with crypto improves playing conditions for fans of playing for real stakes and game content creators.

• Minimal commissions on the market

The taxation issue is relevant in many countries, such as betting shops or online clubs with pokies or table games. Sometimes, high fees for a deposit, at 1.5-3.5%, force players to refuse to enjoy their favorite games. It is especially true for players who still use credit and debit cards or bank transfers for transactions.

Against this background, playing with crypto online is simply more profitable and economical. And we are only talking about commissions within the country, and if we consider conversion, tax fees reach 5-10%.

Cryptocurrency makes payment processing cheaper and breaks down borders between countries. It is fundamentally decentralized and does not belong to any state, bank, or individual. Therefore, choosing iGaming with crypto will help you get rid of commissions and legal consequences of playing on sites with pokies. Here is more detailed data on commissions compared to alternative payment systems:

• Minimal risks and betting without intermediaries

Choosing iGaming with crypto will provide players financial independence from intermediaries and security, as you do not share banking information with any third parties or organizations. At the same time, payments in cryptocurrency cannot be returned, which excludes attempts by scammers to capitalize on returns and steal your funds.

We have already said that digital funds are decentralized. It means you do not need approval from your banking institution or the owner of financial assets to carry out a transaction. You fully control your finances, which guarantees the minimization of the risk of losing money.

• Anonymity of payment operations

The foundation of crypto iGaming is built on anonymous payments, which are processed without entering long card numbers or bank accounts, e-wallet identifiers, or 10-16 digit voucher codes. Thanks to payment via a QR code or using a unique crypto wallet address, your confidential data is maximally protected and inaccessible to third parties.

• Exclusive crypto bonus rounds

Gambling fans understand that bonuses bring players more money to their accounts. Besides this, crypto bonus rounds in games with huge multipliers positively affect income. So, making a deposit in many casinos will bring you not only classic bonuses in the form of a welcome package, free spins, or cashback, but also exclusive gifts for depositing BTC or ETH. It will help you play with crypto online with visible profit and quickly win a large sum of money.

Factors of Negative Influence of Crypto iGaming

You should not think that cryptocurrency on gambling sites has become a true panacea for all the industry’s disadvantages. Based on the principles of objectivity, our experts must also tell you about the weaknesses of gambling with ADA or XRP:

• Not available in all online casinos: Our research in the cryptocurrency gambling segment showed that not every gaming establishment supports Bitcoin, Litecoin, or Ethereum.
• Unlicensed online casinos: Due to the anonymity of payment operations, many gambling site operators do not bother to get a license and offer games for BTC without documents.
• Currency volatility: Sharp jumps in cryptocurrency rates lead to consequences in the form of unforeseen monetary expenses related to a decrease in the value of your cryptocurrency.

But in general, those players who plan to play with crypto online will get more positive effects from using games with Bitcoin or Solana. It is anonymous, safe, economical, and simple. At the same time, you will forget about long waits for withdrawal of winnings, which will arrive at your crypto wallet within 0-10 minutes maximum.