Crypto gaming

During the first half of 2021, the number of visitors to CryptoGamble.com, a resource and tips site for using cryptocurrencies for online gambling, increased by 952.52 per cent compared to the last half of 2020.

According to a research report published by the company, owned by FirstByte Media, users in the German market increased by the most, at 1021.43 per cent over the same period, while Canada (748.98 per cent), the UK (615.09 per cent), the US (536.96 per cent) and India (490 per cent) also recorded significant increases.

These increases, the website said, are indicative of positive upward trends relating both to the website and attitudes towards the sector as a whole.

Providing further insights on the crypto gambling market as a whole, the site broke down the most popular cryptocurrency tokens for gambling.

Bitcoin remains the go-to for any casino that accepts cryptocurrency, it said, and many casinos also convert other crypto payments into the currency.

“This just goes to show how much trust online casino providers place upon Bitcoin and its Blockchain technology”, it said.

Next is Bitcoin, which has the second-highest market share when it comes to online casinos, the report suggests.

Ethereum is also reportedly a popular candidate for the title of crypto gambling favourite, and the site gives honourable mentions to Litecoin and Monero.

Citing previous reports by SoftSwiss, CryptoGambling.tips added that the crypto industry as a whole has taken over a large share of the gambling industry, or at least the online one.

According to recent data, four per cent of all online gambling is dominated by cryptocurrencies, the website reported.

Addressing the outlook of crypto gambling and the iGaming industry generally, the company warned that “not everything is fun and games”.

Factors such as a rise in cybercrime as well as transaction fees “are likely to perturb market growth”, it said.

“This, accompanied by the legal issues involving the industry, such as regulatory bodies that oversee the market and the lack of personal interaction are some key challenges that are seen to affect the industry”.

As cryptocurrencies more and more enter the collective vogue, CryptoGambling.tips has found that “current trends show that as long as the crypto market’s rise into the mainstream continues, the online gambling world will notice the effects of this ascension first hand”.

“Only the future truly knows what it reserves for the crypto gambling industry, but with some analysts believing that the price of bitcoin can eventually reach the $100,000 (€855,500) mark shortly, one can only predict those good things come to the crypto online gambling atmosphere”.

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