Crypto Gambling means using one of many cryptocurrencies for gambling. Players deposit, play, and withdraw crypto to stay anonymous and avoid transaction fees. If you are new and wondering if you should go for crypto gambling or not, then this is for you. Here we have discussed how popular crypto gambling is.
Explosive Growth of Crypto Casinos in the World
If you follow the latest news, then you must know how quickly cryptocurrencies are growing. More and more users are buying and mining cryptocurrencies. The use of crypto is not limited by any restriction. You can use it anywhere, from buying groceries to funding your online gambling sites.
In a recent study on crypto gambling by Blockonomi, it was revealed that the crypto gambling market has expanded from $50 million in 2019 to $250 million in 2024! If we calculate the Compound Annual Growth Rate (CAGR), then the popularity of crypto gambling has increased by 38% in the last five years. If this rate continues then we can expect the crypto gambling market to grow up to $300 in 2025 and $400 million by 2028!
The most preferred crypto for gambling has been Bitcoin with 73.3% of users using it. The second, third, fourth, and fifth cryptos are Ethereum, with 14.5% users, Litecoin, with 6.8%, Tether (USDT), with 3.2%; and Dogecoin, with 2.7%, respectively.
It is interesting to note that even virtual casinos, which are a thing of the future, are seeing a rise in the use of cryptocurrencies. It is expected that Virtual Reality casinos will capture 20% of crypto bets by 2026.
Benefits of Crypto Gambling
If you do not know why crypto gambling is on the constant rise, then you are missing out. Using cryptocurrencies for gambling purposes has various benefits, but the most important one is that you can gamble anonymously. You do not have to show the government how much you deposit, how much you make, and how much you are withdrawing. With this, you can skip paying income tax on your gambling wins!
Since you are using cryptocurrencies for gambling, there is no upper or lower limit to how much you can deposit. You can deposit hundreds or thousands of US dollars without arousing any kind of suspicion from the government. Usually, spending a lot of money on one play can notify the government, but cryptocurrencies let you bypass it.
Have you ever tried sending $10,000 dollars to someone from your bank account using bank transfer or any other payment methods such as ewallets, debit cards, credit cards, etc.? If you did, then you know about all kinds of fees they charge you. If you send that money outside the country, then the fees will skyrocket. Transaction fees become a thing of the past when you use cryptocurrency for gambling. You can deposit money using crypto at a casino that operates in other countries.
Popular Cryptocurrencies Used For Gambling
Listed below are some of the top cryptocurrencies that casinos accept for gambling online.
- Bitcoin – The most popular and the first cryptocurrency in this world is Bitcoin. It first surfaced in 2008, and it is rumoured that Satoshi Nakamoto, an unknown man, had built this cryptocurrency.
- Ethereum – If you know about cryptocurrencies, then you must have heard of Ethereum, which was started by the Canadian genius programmer Vitalik Buterin. It was founded in 2015, and the cofounders of Ethereum were Gavin Wood, Charles Hoskinson, Anthony Di Iorio, and Joseph Lubin.
- DogeCoin – Starting after a Doge meme, DogeCoin is one of the most successful cryptocurrencies in the world. It is widely accepted at US crypto casinos. It was created by Billy Markus and Jackson Palmer in 2013.
- Tether – One of the most trusted cryptocurrencies used by players is Tether. It was launched in 2014 by Tether Limited Inc. In 2024, Tether Limited Inc reported that there were 350 million Tether users and they have $118.4 billion in reserves.
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