If there is any sector that has openly embraced cryptocurrency use, it is the gaming industry. A decade ago, using cryptocurrency to place bets and play iGames was unheard of. Now, up to 10% of sports bets are placed with crypto and this figure is only expected to rise.
With 2025 soon upon us, all signs point to crypto having an even bigger presence in iGaming. For both investors in the space and those who want to place bets, several factors need to be kept in mind.
Why Crypto is Popular in iGaming
From the outside looking in, the sheer amount of consumer excitement over crypto in iGaming can be jarring. Millions of dollars are spent on various sites and some consumers are even choosing crypto over fiat for these transactions. By looking at this list of crypto casinos ranked by Cointelegraph, it’s easy to understand why crypto-based casinos are growing in popularity. They come with a wide variety of games and allow users to play anonymously.
Plus, crypto assets can increase in value which creates another avenue for players to make a profit. In some cases, they can end up with more money than they started with even if they lose their games. On top of this, cryptocurrency offers very fast transactions, especially if you opt for tokens like XRP or Litecoin.
Why Crypto Will Dominate iGaming in 2025?
The iGaming market is projected to reach over $100 billion in 2025 and given how prominent crypto has become in this space, it is fair to assume that a good chunk of this will comprise crypto transactions. Just like its dominance so far, several factors will contribute to the growth of iGaming in 2025.
First is the spike in crypto prices. 2024 saw several major milestones such as the approval of the spot ETF for both Bitcoin and Ether and a new all-time price high for the former. This, plus the anticipated wave of pro-crypto regulations in the US, will mean that more people will try to make money from cryptocurrency. Increased demand for crypto will increase gambling via crypto and soon, the iGaming space will rise to meet this demand.
There will also be even more emphasis on privacy in 2025 which will steer consumers towards digital assets like Monero as opposed to fiat currencies. Then we look at the resurgence of NFTs, which are closely linked to crypto.
After a stellar run in 2020 and 2021, NFTs fell out of favour with the public and seemed to be over. But in 2024, public opinion is swinging back in the opposite direction and NFTs are becoming popular again, even in gaming. NFTs are being given away as prizes, used to unlock premium benefits on casinos, and much more. If they continue to be popular in 2025 and beyond, we can expect crypto assets to be as well.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
