Partner content

As every month goes by, cryptocurrency seems to get integrated into more and more parts of the digital world, and more and more industries get tied together with it. One industry that’s gone hand-in-hand with all manner of crypto technology is iGaming, or the world of online gambling. Don’t be fooled into thinking this is just placing online bets though; it’s a bit more complex than that.

What exactly is iGaming?

Essentially, take everything found in the classic brick-and-mortar casino and betting shops, and make it all digital, including the major gambling names as well. For example, Paddy Power has made everything they offer on the high street now available digitally. Gamblers can try a range of table and casino games, or even play online bingo nowadays from home, or on the go with the rise of mobile versions of the games.

Add to that an ever-growing list of hundreds of purely digital slots and live-hosted game shows, it’s no wonder that iGaming is a rapidly growing digital industry. In fact, industry experts are forecasting a staggering growth rate going forward, including an 11.6% yearly growth rate through to 2030. Most critically, it’s growing outwards as well as upwards, expanding into major new markets as regulation becomes more and more standardised around the world.

How does cryptocurrency come in?

Given that it’s purely digital, and that payments of all sizes from all areas of the globe are standard, it was natural that cryptocurrency payments were rapidly implemented to handle both deposits and withdrawals. Almost all of the biggest online casinos now accept multiple kinds of crypto from Bitcoin to Litecoin and more. In fact, there are now several casinos that operate entirely using crypto.


The question is though, just how big a part of the whole iGaming world does crypto account for? By the most recent statistics, it’s not taking over the entire industry; however, the amount that it takes up is growing. Q1 reports show that the amount of crypto betting has more than doubled over the space of a year, with Bitcoin leading the way as the most popular currency to use.

Where does this partnership go next?

As pairings go, iGaming and crypto go together seamlessly, and it’s only fair to think that wherever one business goes, the other will be soon behind it. For instance, Non-Fungible Tokens (NFTs) are a major direction that both industries seem to be moving towards, with online casinos starting to offer NFTs as event rewards and player loyalty bonuses.

One area of development that also looks likely is in projects like the Metaverse, the natural endpoint of making everything virtual instead of physical. Crypto is already heavily intertwined in the Metaverse already, and it seems extremely likely that some of the larger casinos, based in either traditional casinos or iGaming, will soon set up shop with completely virtual casinos. 

Beyond that, it’s impossible to know where the partnership will go next, but it’s almost certain they’ll be in it together.