Online casinos have been around for decades, but it’s only in the last two decades or so that regulating these casinos has become common. Nowadays, you can use cryptocurrencies to deposit and withdraw at an online casino. However, what other changes did crypto gambling bring about in the iGaming world?
When Did Cryptos Enter the iGaming Market?
When cryptos first emerged with Bitcoin’s creation in 2009, most people and industries were wary of these digital currencies. However, online casinos were some of the first to adopt cryptos in their platforms.
Still, it’s only around 2020 and 2021 that cryptos really became mainstream and accepted by most of the global population. As such, sports betting with crypto became more common as more people started owning it.
The Most Popular Cryptocurrencies at Casinos
A report conducted by Renomowanekasyno.pl shows that Bitcoin, Ethereum, Litecoin, and Dogecoin are four of the most popular cryptos used at online casinos. Each of them holds a market share of:
- Bitcoin: 45%
- Ethereum: 25%
- Litecoin: 10%
- Dogecoin: 3%
Cryptos are also becoming popular in markets other than iGaming. At the end of 2024, crypto wallet users hit a new record of 36 million active users. As such, cryptos, in general, are becoming more accepted by society.
Changes Cryptos Brought to 2025’s iGaming Standards
With the introduction of cryptos into online casinos, there have been a lot of changes to how casinos operate. As you settle into the new year, it’s a good idea to understand how crypto-gambling trends impact casinos.
Increased Security and Transparency
Cryptocurrencies use blockchain technology, which creates an open ledger of transactions. As such, it’s practically impossible for someone to fabricate blockchain transactions. Casinos become more transparent about their dealings, which prevents shady underground dealings. Blockchain also plays a significant role in preventing fraud and money laundering.
Better Privacy and Trust
There’s no payment method that is more private than a decentralised digital currency. You can play at casinos without having to provide your bank details or other payment methods. Further, this payment system doesn’t involve any government, and your identity is presented as an alphanumeric address. That way, you can also enjoy more anonymity, which helps build trust with the operator.
Tendency Towards Provably Fair Games
When online casino games were created, many users were worried about rigged games. However, crypto casinos aim to be as fair as possible, and so provably fair games have become the norm. These blockchain games use algorithms to ensure game results are randomised. Further, users can verify the algorithm of crypto casino games for themselves.
Faster Financial Transactions
Blockchain and smart contracts facilitate instant transactions, which means crypto casinos often have faster payouts than other casinos. These payments are borderless and secure, which also means you don’t need to worry about internal conversion fees or hidden charges. It also protects your transactions better, as the instant transfers don’t allow for any third-party interference.
Tips When Playing with Bitcoin
Recent statistics show that men are more likely to use crypto than women to gamble. Further, the younger generation between 18 and 43 years are more inclined towards using crypto at online casinos. However, before you decide to bet using Bitcoin, make sure you know how to keep yourself as safe as possible.
- Play at a Reliable Online Casino
The first and most important piece of advice is to always play at a licenced casino. Crypto casinos aren’t necessarily beholden to one single government. However, being licenced and regulated adds a layer of security for the players.
- Create a Set Budget
Always decide how much you can spend on gambling beforehand. Only spend money that you’re able to afford to lose. A good idea is to create a separate crypto wallet for gambling funds. That way, you know you can’t spend more than you should while playing.
- Practice Using Demo Games
Demo games are a good way to get used to how casino games work. All the game results are randomised, so you can’t actually influence whether you win or lose. However, what you can do is get a feeling of how much you can bet, how to manage your bankroll better, and the game’s rules.
- Activate Responsible Gaming Tools
Responsible gambling tools include personal limits (deposit, wager, loss, and session), reality checks, cool-off periods, and self-exclusion. By using these tools, you can prevent problem gambling habits and keep yourself on track as you play.
- Carefully Decide on Your Crypto
The above tips can work for any crypto, not just Bitcoin. That’s why the final tip to consider is to choose your crypto carefully. Crypto casinos often show the Bitcoin exchange rate on the website. Decide whether to use Bitcoin or a crypto that’s more easily mined/exchanged.
Entering the New Age of Crypto Gambling
The most significant impact cryptos have on the gambling world is increased security, transparency, fairness, and trust. It provides faster payment options, but it also serves to make the entire industry more reliable. As the future of iGaming, it’s moving to create a better online gambling environment.
