Cryptocurrencies

Cryptocurrencies set to become dominate payment method

Cryptocurrencies will likely become the dominate payment method for iGaming in the next few years, according to reports from the operator 888 Casino and the solutions supplier SoftSwiss.

Research from 888 Casino revealed that 49% of Britons have been deterred from using cash payments ever again. Meanwhile, 26% of people aged 25 to 34 are reported to have invested in cryptocurrencies. This digital payment trend has been accelerated by the coronavirus pandemic and the influence of billionaires like Elon Musk and Calvin Ayre.

Crypto payments are growing in popularity

Talya Benyamini, Vice President of 888 Casino, said this of the company’s latest findings: “At 888 Casino, the prospect of including cryptocurrencies on our platforms in future is on our radar, especially as it becomes more popular with the general population. It seems to be the way the world is going, and fast.”

However, 888 Casino isn’t the only brand to uncover the potential of crypto payment for iGaming. The solutions provider SoftSwiss has also identified this fast-growing trend. According to a corporate report from the company, “the absolute and relative value of cryptocurrency gambling traffic has increased threefold in 2020, compared to 2019.”

Crypto gambling is most definitely on the rise

The stats from SoftSwiss highlighted how many crypto payments are being used across the whole world – with increasing interest in places like Russia, Canada, Latin America and the United Kingdom. From here, the supplier predicts that the iGaming industry will see a rise in ‘crypto gambling’.

“Bitcoin is no longer exotic,” announced Andrey Starovoitov, Chief Operating Officer of SoftSwiss. “In the coming years, we expect to see even more gaming studios supporting cryptocurrencies in their games, as well as casino operators integrating new crypto payment methods for their players.”

iGaming affiliates should not ignore this growing trend and begin to ready themselves for the rise of crypto gambling.

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