CasinoRIX, a leading online casino review platform, has conducted a comprehensive study on the evolving use of cryptocurrency in online casinos in 2024. This in-depth research highlights the shifting landscape for both players and operators in the online gambling sector. Collaborating with CryptoProcessing by CoinsPaid, a top cryptocurrency payment processor for high-risk industries, CasinoRIX has gathered valuable insights into the role crypto plays in online gaming and its potential future.

According to CryptoProcessing’s data, over 60% of Bitcoin transactions within its network are linked to online gaming. Furthermore, more than 55% of the global online gambling audience already owns cryptocurrency. This data underscores the growing importance of digital currencies, which are increasingly viewed as viable alternatives to traditional banking due to lower fees, faster transaction times, and reduced chargeback risk.

CasinoRIX also gathered feedback from industry partners, including BetCare, TonyBet, 22Bet, Gypsy Partners, and 13aff, to gauge trends and challenges in cryptocurrency engagement. TonyBet reported that, although crypto users remain a minority, their average spending is three times higher than that of fiat currency users. These players prioritize instant withdrawals and game availability for cryptocurrency options, setting a high bar for user experience in the crypto space.

Meanwhile, 22Bet noted a slight decline in cryptocurrency transactions, dropping from 1.9% in 2023 to 1.6% in 2024, raising questions about the pace of crypto adoption. Gypsy Partners, however, observed an 8.3% rise in crypto payouts, indicating a varied adoption trajectory. Similarly, 13aff reported that 10-13% of depositors continue to opt for cryptocurrency, and they believe that on-ramp solutions will positively impact crypto’s long-term adoption in online gambling.

Overall, CasinoRIX’s findings suggest that while cryptocurrency adoption in online casinos has fluctuating patterns, it is poised for gradual growth as users seek convenient, secure, and efficient payment options.