TORONTO, Nov. 7, 2024 /PRNewswire/ – Extensive research into the dynamics of cryptocurrency usage in online casinos in 2024 has been carried out at CasinoRIX, the leading online casino review platform. This study, elaborated by the experts at CasinoRIX, deeply analyzes the dynamic landscape of cryptocurrency transactions that change substantially for both players and operators. The team at CasinoRIX is committed to delivering significant insights into the world of online gambling.
Working with CryptoProcessing by CoinsPaid, the number one cryptocurrency payment solution provider for high-risk industries, CasinoRIX received critical insight into where crypto currently is in online gambling. CryptoProcessing reported that in excess of 60% of Bitcoin transactions occurring over their network were for online gaming; they underlined more than 55% of the global online gambling audience as being a holder of cryptocurrency already, showing its increasing vulnerability in the market. According to data indications by them, cryptocurrencies are the alternative needed for traditional banking, which usually comes with high fees, delays in transactions, and chargebacks.
Otherwise, CasinoRIX questioned industry partners for their opinions, among which are: BetCare, TonyBet and 22Bet, Gypsy Partners, and 13aff among operators, providing essential feedback on trends in cryptocurrency engagement. TonyBet underlined that while crypto players are a minority, their average value is three times bigger than that of fiat players. They made a case that crypto players’ main expectations are instant withdrawals and the availability of popular games allowing crypto.
Meanwhile, at 22Bet, cryptocurrency usage saw a drastic decline from 1.9% in 2023 to 1.6% in 2024, while such transactions fell to 2.4% from 9.9% in the same period. This has further put into question the trajectory that may be taken in the growth of cryptocurrency adoption in online gambling.
Still, Gypsy Partners recorded a rise in crypto payouts by 8.3%, balancing the books. 13aff also related the consistent interest in crypto payments, citing 10–13% of their depositors choosing the option. They concluded by stating that they believe on-ramp solutions will only continue to build positive shine on crypto, but they understand these digital currencies take time to become more important among the choices available in payment options across the industry.
Here is the complete report with a trend of cryptocurrency use in online casinos. CasinoRIX continues to update users on the latest news and developments in online gambling as well as new payment methods and shifting industry dynamics.
View original content: https://www.prnewswire.com/news-releases/casinorix-research-highlights-2024-cryptocurrency-trends-in-online-casinos-302299060.html
SOURCE CasinoRIX
