Cryptocurrencies have become a hot topic at the moment and every day altcoins are expanding into a larger market. More and more people began to take courses, learn about alternative currencies and invest in them.

The iGaming industry has been accepting payments in cryptocurrencies for a long time. Some casinos even have special digital coins that players can use for different games. Let's take a look at these crypto casino statistics.

What does cryptography look like in the gambling industry?

The online gambling industry was one of the first to use cryptocurrencies. Some companies have developed websites dedicated to crypto gambling with dozens of coins. They offer welcome bonuses and offers that are calculated individually based on the condition of the coin.

The first thing you can do at an online casino with cryptocurrencies is to deposit and withdraw money almost instantly. Unlike some fiat payment methods, which can take up to 7 business days for your winnings to be credited to your bank account, encryption is instant.

An online gambling establishment offering currency to play and fiat payments will not restrict access to the game for cryptocurrency/fiat players. You can even pay in both currencies; it just depends on your preference.

Crypto casino statistics

Dedicated crypto casinos have created a trend that you need to acknowledge. There are more than 70 online operators in the gambling market that work only with cryptocurrency. In addition, about 47% of online gambling organizations accept both altcoins and traditional payments.

This ease and wide choice has encouraged more and more players to start using cryptocurrencies in gambling. At the beginning of 2021, about 22% of the total amount of bets was made using altcoins. A year later, crypto bookmakers and casinos showed a 115% increase in cryptocurrency bets.

Industry insiders from Casinobonusca found that the number of fiat wagers dropped from 88% in 2020 to 65% by the end of 2021. In 2022, the fall in fiat money rates was no longer so steep, so it is stuck at 54%. Read also: Baccarat Rules And Baccarat Strategy

Bitcoin Takes Over Gambling

Bitcoin is the most popular cryptocurrency and deserves all the fame and attention it gets. Currently, over 80% of cryptocurrency gambling is done with Bitcoin. The second place goes to Ethereum, which convinced about 10% of the players to use it. In 2022, Litecoin accounted for about 6% of total altcoin betting, with other coins such as Dogecoin, Ripple or Cardano together accounting for the remaining 4%.

What are the expectations for 2023?

Cryptocurrency experts believe that 2023 will not be as promising as it could be. The potential is huge, but the world economy will enter a difficult period. The crypto gambling industry will not collapse or lose its value, but the growth will be about 15%.

Pay attention to these 3 things when choosing a crypto casino

If you have already started thinking about using your coins, don't forget to check the casino's reputation, rules and bonuses. Also, look at how crypto casinos have affected the entire gambling market. Now you can plan your next crypto trip to Las Vegas because the land-based casinos on the Strip have started accepting bitcoin for gambling, hotels and lodging.

Reputation

This is necessary not only for the operator to actually offer cryptocurrency payments, but also for security purposes. Each country has its own laws, and most of them require a license from the casino. Without it, the casino cannot function legally. Although there are not many reputable casinos without a gambling license in 2022, you still want to check it out. You can see this information at the bottom of the main page.

Rules

Each gambling establishment has its own rules and you need to know their commissions and why they can close your account. On these pages you will also find information on payment processing times and fees, crypto and responsible gaming. The operator will explain every aspect of the casino to you; you can skip some, but be sure to read the page.

Bonuses

As mentioned above, online casinos offer different types of bonuses. Crypto casinos usually have welcome bonuses and seasonal promotions. After reviewing their terms, both categories are safe to use, but you can opt out of using them if you're not interested. They have no zest and will not try to deceive you; their rules are clear and you will most likely find more answers in the casino's FAQ section.