Cryptocurrencies have experienced a surge in popularity in recent years, gaining significant momentum within the online gambling sphere by offering a new perspective on the age-old thrill of taking chances. These cryptocurrency-based casinos have undoubtedly revolutionized the industry, offering players enhanced security measures, faster payment processing, and improved transparency. Consequently, it should come as no surprise that some of the finest crypto casinos have already drawn thousands of players to their platforms.
If ever curiosity got the better of you and you’ve wondered about some of the latest and most interesting stats related to crypto gambling and casinos accepting crypto, this article will prove to be a riveting read. However, before delving into the nitty gritty, it’s worth checking out NoDepositTracker, a website specializing in no deposit bonuses, here you’ll find a great list of tried, tested and licensed operators that accept crypto. Now, let’s take a look at 10 noteworthy statistics about this upward trend.
1. Bitcoin Reigns Supreme
Bitcoin first emerged in 2009, quickly becoming synonymous with the concept of digital currency by championing enhanced security through its decentralized network. Its anonymity made it the ideal choice for individuals seeking discretion in their gambling transactions.
In fact, over 80% of cryptocurrency gambling transactions are conducted using Bitcoin, while Ethereum is chosen by 10% of bettors, and reportedly, 6% opt for Litecoin. However, we may begin to see a shift sometime soon, with reports suggesting that the continuous growth of other altcoins may lead players to diversify their funds with other cryptocurrencies.
2. Market Size
The crypto gambling market size and revenue is reportedly believed to be around $4.6 billion as of last year, and is forecast to continue to grow reaching $65.7 billion by 2027. Moreover, 50% of all Bitcoin transactions are gambling related.
Millennial and Gen Z demographics are often considered the primary drivers of crypto gambling, thanks to their deeper understanding of blockchain technology. The emergence of hybrid casinos, which accommodate cryptocurrencies like No Verification Casinos, is poised to cater to this demographic by providing innovative features and intuitive design. Furthermore, recent reports indicate that 48% of millennials and 36% of Gen Zs exclusively place bets online in North America.
Male gamblers continue to dominate the online crypto gambling scene, constituting 65% of the players, compared to the 35% of females. Although the number of female gamblers has increased since the emergence of online casinos, gambling, both online and in-person, is often seen as an opportunity to assert masculinity, satisfying their desire for entertainment and excitement.
5. European Suspicion
Crypto gambling has yet to gain traction in Europe, with only about 1 in every 6 people who bet online indicating their intention to continue doing so in the next year. The lackluster adoption of this trend can be attributed to the fact that 54% of players do not trust cryptocurrencies, while 52% believe they lack longevity and prefer more traditional payment methods, such as debit cards.
6. Rapper Scores Big
You might know Drake for his chart-topping hits, including ‘God’s Plan’ and ‘One Dance’; however, behind his successful music career, the Canadian rapper is also an avid and skilled gambler. During a recent visit to the casino, Drake successfully tripled his earnings, turning $8.7 million into an impressive $27.3 million.
Just Dice Groundbreaking Win
A well-known Bitcoin gambler made history by winning 11,000 BTC, equivalent to around $1.3 million, in a single weekend of play at the European-based cyber casino, Just-Dice. The identity of this mysterious player has never been revealed, leading many spectators to theorize that they could be a Just-Dice employee attempting to misappropriate funds from investors.
8. Streaming History
Popular Twitch streamer Trainwreck made history last year by winning a $22.5 million jackpot during a live broadcast. The streamer achieved this remarkable win by utilizing just two of his 15 free spins while playing ‘Might of Ra’ when he had only 0.8 BTC left.
9. 25% of Gambling Payments Are Crypto
Crypto is considered the fastest-growing sector in the iGaming industry, with 48.6% of cryptocurrency holders using the currency exclusively for gambling. In terms of gambling payments, an astonishing 25% are recorded as originating from cryptocurrencies.
10. Latin American Market Growth
The Latin American gambling market has been experiencing steady growth, positioning itself just behind North America. Despite gambling activities being illegal in the region, Brazil has managed to lead the way in securing the largest revenue share among all Latin American countries.