The idea of cryptocurrency, as conceived when it first arose a little over a decade ago, and the reality as we see it in 2022, are two very different things. As interesting as crypto has come to be, it seems hard now to imagine a future in which it could be even close to replacing fiat currencies or competing as an alternative. As the world of technology evolves, though, there may be something in the idea of crypto being a payment method with applications in specialist areas. And perhaps no industry proves this better than iGaming.

It makes sense on a number of levels, not least in the fact that betting is simultaneously a “fringe” industry, which has its supporters and detractors in almost equal numbers, as well as a sector in which money moves, often very quickly, based on speculation. Not only that, but the crypto betting industry is showing how digital assets can be a driver of innovation in an industry which, as demonstrated by an embrace of eSports, is looking for ways to attract a younger audience. The following are a few reasons why crypto and iGaming may just be perfect for one another.

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Easier deposits and withdrawals

Even if you don’t want to hold crypto for an extended period - which would be understandable given its tendency for price fluctuation - the fact that it is a faster way to move money makes it ideal for bettors. When you win on a sports betting site, or in a casino, you ideally want to have access to your money quickly. Bank transactions can take an uncomfortably long time in this regard while, if you use cash to buy crypto, then bet that crypto and win, and then withdraw it and turn it back into cash, you can circumvent that inconvenient process.


Fun, transparent games

Crypto casinos have developed an intriguing way of rejecting the shady image foisted onto them by skeptics. In a move you won’t see any time soon at conventional online betting sites, they’ve developed Provably Fair games. These games show you their base code, so whether you win or lose, you know that the result has been arrived at fairly. Crypto casinos have also seen the development of fun games of nerve such as Crash Gambling, where you can see your stake multiplied significantly in a short time, but need to cash out before the “crash”. Quick reactions and a decisive frame of mind can be your winning ticket in these provably fair games, which are not found on conventional betting sites.


Better bonuses

Another considerable advantage that can be brought to the table by crypto betting is the difference between the promotional bonuses on offer at crypto casinos, and those on offer elsewhere. Bigger total bonuses, more free spins, and easier wagering requirements on bonuses are the order of the day on crypto sites. Again, if you simply convert your winnings into cash quickly after winning, you don’t even need to hold a big crypto balance if volatility is your concern. You can simply make the most of bonuses and see the benefits quickly.​