Gambling Traffic Using Cryptocurrency Triples During 2020

Posted on February 22, 2021 - Last Updated on March 12, 2021

A new corporate report by the SoftSwiss Game Aggregator has revealed that compared to the values achieved in 2019, the amount of cryptocurrency gambling traffic has increased threefold in 2020.

Bitcoin remains the most popular of all cryptocurrencies used in gambling online with 90% of the money generated coming from this crypto. The remaining 10% is from other more emerging cryptocurrencies such as Ethereum and Litecoin.

Statistics and an analysis of the data collected by the SoftSwiss Game Aggregator reveals that cryptocurrency is now being used across the globe and that there is a marked growing trend of users all over the globe, but particularly in Russia, Canada, and Latin America.

Echoes The Findings Of Bitcoin Betting Providers

While the size of the threefold increase is something of a surprise, the news that bitcoin esports betting is growing in popularity around the world most certainly is not.

A number of top providers such as LuckBox, Unikrn and Loot.bet have all reported significant increases in the amount of funds generated by cryptocurrencies over the past year. This goes hand in hand with a general upward trend in the amount of esports betting that has been made across 2020 and beyond.

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“No Longer Exotic”

What is abundantly clear now is that Bitcoin and other cryptocurrencies are now becoming more mainstream and more widely used by online gamers and bettors. As SoftSwiss Game Aggregator’s Andrey Starovoitov explains:

“Bitcoin is no longer exotic. In the coming years, we expect to see even more gaming studios supporting cryptocurrencies in their games, as well as casino operators integrating new crypto payment methods for their players.”

This news adds to earlier findings that those punters that engage with the esports betting industry using cryptocurrency as their choice of payment method, are more likely to make riskier bets than those that use more standard forms of currency.

Indeed, research undertook by Loot.bet suggested that if a punter was placing a bet on an esports betting market using standard cash, then the same bet placed by another customer using bitcoin or another cryptocurrency was likely to be worth double the value.

Furthermore, this research also found that in addition to esports betting, a number of users were also using their cryptocurrency of choice to play esports slots games too.

Who Are Cryptocurrency Customers?

One of the most interesting aspects of this surge in interest and participation in cryptocurrency betting on esports, is that it tends to be a particular demographic that are forging ahead in this particular form of betting.

A report by Spanish banking platform 2gether in January 2021, revealed that 56% of its cryptocurrency users were aged between 26 and 45, 77% of these users are male and they tend to be white-collar professionals, such as accountants, lawyers, and economists.

The news that gambling traffic from cryptocurrency has trebled during 2020 is no surprise at all and it echoes the findings of a number of similar studies and investigations that have been reported prior. What is going to be of more interest going forward, will be to see just how much further cryptocurrency can grow and how quickly it moves into the mainstream even more so than it has at present.

There are no signs at all that cryptocurrency is a fleeting passion. Bitcoin and company are here for the long haul.

Ian John Avatar
Written by
Ian John

A lifelong poker fan, Ian is also well-versed in the world of sports betting, casino gaming, and has written extensively on the online gambling industry. Based in the UK, Ian brings fresh insight into all facets of gaming.

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