Cryptocurrency in the iGaming industry and becoming more popular
The use of cryptocurrency in iGaming is becoming more and more widespread. Gradually, such transaction options in online casinos are replacing fiat money, which is traditional. According to statistics, in the last year alone, the volume of bets using cryptocurrency has increased more than threefold.
The emergence of virtual gambling has become a very significant innovation in the gambling industry. The simplicity and convenience of this form of play still surprises some experienced gambling users. Non-cash transactions are convenient. This is especially true for transactions made using cryptocurrencies. Statistics show that electronic money already occupies a large niche in online gambling and has seriously pushed out fiat money.
According to the well-known company SoftSwiss, about 16% bets were made using cryptocurrency in the third quarter of 2020. In the third quarter of 2021, this figure corresponded to 43.3%. Such rapid growth is directly related to the increase in the use of digital technologies around the world. Analysts are also confident that the share of cryptocurrency bets has grown due to increased investments by operators in marketing. As a result, the popularity of gambling has grown significantly. Especially among a young audience (21-30 years old). Young people have long been actively using cryptocurrency in everyday life. Now they have begun to use it more intensively in online gambling.
The conducted research showed that the leader in terms of use in online casino betting is Bitcoin. Its share seriously dominates in calculations. It amounted to at least 78.5% of all crypto transactions in virtual gambling in the second quarter of this year. In the third quarter, the volume of Bitcoin use increased even more - to 86.6%. In second place is Ethereum, and in third place is Litecoin.
