There was a mixed set of results from CasinoRIX as it revealed that whilst crypto players are yet to overtake fiat in terms of volume, their value continues to edge up.
The firm has released the results of an expert study examining the dynamic landscape of cryptocurrency transactions, which has demonstrated substantial changes for both players and operators.
Providing insight to the study, TonyBet stated: “Crypto players are still niche players, but their value is on average 3x higher than fiat players. Working with platforms such as CryptoProcessing allows operators to stay compliant and ensures that they are protected from crypto fraud. The most important expectations for crypto players are instant withdrawals and access to top games, including popular crypto games.”
The study described the landscape for crypto players as ‘evolving’, though this evolution is presenting both challenges and opportunities.
CryptoProcessing also reported that over 60% of Bitcoin transactions occurring over its 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.
On the other hand, 22Bet detailed that cryptocurrency engagement fell from 1.9% in 2023 to 1.6% in 2024, while such transactions fell to 2.4% from 9.9% in the same period.
It added that at the forefront of focus for stakeholders when integrating crypto should be user experience and ensuring the right levels of support are available for players and operators.
Peter Jermakov, Growth Lead at Gypsy Partners, commented: “Despite the majority of payments still being processed through fiat, we’ve seen an 8.3% growth in crypto payments since last year. This could mark a milestone and showcase the efficiency of crypto as a payment method, especially in the EMEA market. We believe the role of cryptocurrencies in the iGaming industry will continue to grow and compete with alternative payment methods.”
There are however challenges in terms of integration. Ensuring that the process is done effectively and safely for high risk industries is also important, particularly regarding player education and crafting an impactful KYC process.
BetCare provided insight into how the state of play for crypto has evolved in recent years: “Over the last four years of our operations, more brands have integrated crypto payments, making them an industry standard. While it might seem that crypto is more suited to younger users and could be complicated for those accustomed to traditional methods, modern exchanges have made the process very user-friendly.
“One major advantage of crypto transactions is the ease of verification — many brands skip this step altogether, which can indeed attract scammers but also saves legitimate players time. Additionally, crypto transactions are much faster than fiat ones, and we’ve experienced minimal issues with deposit or withdrawal delays.”
