The Rapidly Growing Appeal of Crypto Casinos
Crypto casinos might be relatively new to the iGaming industry but they have quickly claimed a large section of the market share. The crypto casino revenue reached over $81billion in 2024 and has experienced a 30% year on year growth.
With more people exploring the benefits of owning crypto currency, it is expected that a proportion of crypto owners will also have an interest in crypto casinos. However, we are also seeing that people that were not previously buying crypto are now doing so for the advantages that crypto casinos offer compared to non-crypto casinos.
There are many reasons why gamblers are moving over to crypto casinos, including:
Privacy
One of the big appeals of crypto casinos is the additional privacy it provides. There are usually minimal KYC (Know Your Customer) processes to complete and gamblers do not have to share their bank details. Gambling activity does not show up on bank statements, so gambling does not impact credit checks for loans and mortgages, for example.
Faster transactions
Some online casinos can take up to five days to process withdrawals, but crypto casinos offer transactions that can take just a few minutes. For casino players who get frustrated with long waiting times, registering with a crypto casino ensures that they can get their money as soon as they land a good win. There is no need to wait for opening hours for their withdrawal to get approved by someone.
Global access
Many non crypto casinos have geographical restrictions which only allow users within the country the casino operates in. Crypto casinos are borderless, allowing players from anyone in the world to use the site, all they require is a crypto wallet, internet connection and a device to access the casino.
Lower transaction fees
Another reason many casino players prefer playing on crypto casino sites is that they offer significantly lower transaction fees. As there are no banking intermediaries, there are no additional fees for transactions, so players receive more of their winnings with they withdraw them.
Bigger bonuses
There are usually better welcome and ongoing bonuses available on crypto sites compared to fiat casinos, which is another big attraction for signing up and continuing to use the site.
Provably fair gaming
For people who are wary about the fairness of online casinos and have concerns that they may be rigged, the cryptographic provably fair systems used by crypto casinos give them peace of mind that the games they are playing are legit and they can check the verifiable outcomes on the casino site.
Crypto casinos also lead the way when it comes to user experience and cutting edge technology. People who own crypto tend to be early adopters of the latest tech, and therefore their expectations for innovations are higher.
The popularity of crypto casinos is set to continue growing as more people start to discover all the benefits to gain compared to traditional online casinos, so we can expect to see lots of new crypto casinos being introduced to the iGaming market.