BTC and other crypto are having an increasing impact on the online gambling market as more players prefer digital currency.
Noticeable Difference Within Online Gambling
Not a day goes by without more people jumping on the bandwagon and taking their first steps into the world of cryptocurrency. There are many ways where you can notice a shift in trends and one area where there is a noticeable difference is within online gambling.
Gambling Insider recently conducted a survey in this particular area and just by looking at the last few months, you can really notice a significant growth. The fact that the cryptocurrency market cap reached the $2 trillion mark earlier this year does of course drive any other crypto business, including gambling.
Let’s Talk Numbers
After looking at the results from the survey, Gambling Insider reports that around 4% of all online gambling is now being done with some sort of cryptocurrency. What does that mean in actual numbers? Well, based on the fact that the global gambling market is said to be worth $66.72bn during 2020, with a predicted growth of 11% this year, it would mean that the crypto market share accounts for somewhere around $2.64bn of it.
Bitcoin Is the Front Runner
It doesn’t come as a surprise that it’s Bitcoin that leads the charge and is the most popular crypto even in the gambling industry. With that said, Bitcoin actually accounts for about 90% of all crypto-related gambling done online.
The Industry Leaders Confirm the Shift
Are the numbers giving us a correct reflection from the online gambling industry right now? Olle Dickson of the very popular BitStarz Casino said in an interview with AffiliateCon Virtually Live that “Players who might have been sceptical about crypto at the beginning have started to adopt the use of cryptocurrencies, and we don’t see them going back to fiat”.
There you have it, straight from the horse’s mouth. One of the industry leaders confirming the shift that cryptocurrency is becoming a bigger player than ever before.
No Signs of Slowing Down
Considering the online casino market has grown more than any other and still shows no signs of slowing down, it will be interesting to see the numbers a year from now.