The online gambling industry is going through a huge change at the moment.
What is it? Players are ditching cash for cryptocurrencies.
This comes following the rise of blockchain-powered sites like Stake.us, CoinCasino, BetPanda, all of which allow you to deposit and withdraw using cryptos.
We’re talking Bitcoin, Ethereum, Litecoin, and most of the others.
Unsurprisingly, players have caught onto this and it’s fast become quite the trend, with the crypto gambling industry recently valued at a whopping $250m.
And with Stake alone having over half a million registered users in the US, it seems as though the crypto gambling trend isn’t going to fade away anytime soon.
The Crypto Casino Explosion
Post-COVID, crypto casinos have started popping up everywhere.
It comes following a seismic rise in the number of crypto investors worldwide, which is now said to be over 560 million.
Many of these investors, as you might expect, actually want to use their cryptos instead of just trading them.
This is why so many of them have started signing up with crypto casinos, where they can effectively:
- Gamble anonymously
- Make faster, low-fee deposits and withdrawals
- Experience worldwide availability
For existing gamblers, it’s become something of a no-brainer, especially as crypto casinos also sometimes offer better bonuses and rewards, too (as we speak, CoinCasino has a 200% deposit bonus of up to $30,000, which is one of the biggest bonus offers in the history of online casinos, period).
Moving forward, it’s even estimated that the crypto gambling market itself will keep growing until it reaches a value of $400m in 2028, when there will no doubt be more crypto casino players than ever. Make no mistake about it, this is a serious market and players are hooked.
How Crypto Casinos Actually Work
Believe it or not, crypto casinos work just like regular online casinos, with the only major difference being real money gets switched out for cryptocurrencies.
You can only bet cryptos.
And you can only win cryptos.
It’s that simple.
All of the games, from slots to roulette, are the same. Plus, because crypto casinos are so popular, these games come from all the popular software providers, including the likes of Pragmatic Play and Play’n GO.
Let’s imagine you join a crypto casino for the first time. The first step will be for you to deposit your desired cryptocurrency, such as Bitcoin, and wait for it to arrive in your casino wallet. Once that’s done with, you can then start playing.
If you deposited 0.00089 ($100) into your crypto casino account, play Sugar Rush slot, and win 0.00045 ($50), this would then take your wallet balance to 0.00134 ($150). As long as you’re comfortable dealing with crypto figures and volatility, it’s fairly easy to understand and keep track of.
Of course, the general aim is to win enough cryptocurrency so that you can then withdraw it from the casino back to your personal wallet or crypto exchange. And, thankfully, most crypto casinos have low minimum withdrawal amounts, meaning you can withdraw low amounts of any crypto you win whenever you feel like it.
Some crypto casinos also offer fun things like tournaments, giveaways, and more, so there are those to look out for as well. But outside of that, the overall experience isn’t that different from regular online casinos. For anyone with previous casino gambling experience, it’s a relatively easy transition over to the crypto sites.
What Are the Best Crypto Casinos?
The internet is currently home to well over 1,000 online casinos, 200 sweepstakes casinos, most of which are reviewed on sweepsgods.com, and now a growing number of crypto casinos, too. In terms of the best crypto casinos, we recommend:
Stake ➜ 200% sign-up bonus up to $3,000 ➜ Over 3,000 slots
CoinCasino ➜ Claim up to a $2,500 welcome bonus ➜ Over 4,000 slots
Betpanda ➜ 100% of your first deposit up to a maximum of 1 BTC➜ Over 6,000 games
BetPlay ➜ 100% bonus up to 50,000 μBTC ➜ Over 8,500 games
Thunderpick ➜ 100% welcome bonus up to $2,000 ➜ Over 6,500 games
Of course, the leading site at the moment is Stake, a crypto casino that’s absolutely rocketed since 2020. A brand partnership with the legendary rapper Drake has helped, as well as the company’s move to sponsor a lot of the popular casino streamers on Kick and Twitch. It’s certainly a great crypto casino to start out with, but our other picks, including Betpanda and Thunderpick, are also excellent.
Are Crypto Casinos Completely Legal?
Crypto casinos are, indeed, legal in the US, although only in states where online gambling itself is allowed, like Connecticut and Michigan. As of right now, there are no explicit laws specifically against crypto casinos, as they operate more in a legal “grey” area than anything else. Of course, this is great news for crypto gambling fans, but there’s nothing to say that crypto casinos won’t become more regulated in the future if their popularity continues to skyrocket.
Crypto Casinos Won’t Replace Online Casinos, But They’re Here to Stay
If the past few years have taught us anything, it’s that crypto casinos are officially the new favorite amongst gamblers.
Will they replace traditional online casinos? Now that’s unlikely, especially considering that the vast majority of casino fans still, unsurprisingly, prefer to gamble with regular money.
However, crypto casinos aren’t going anywhere and their market share is, for sure, going to keep growing. The likes of Stake and BetPanda are already competing with big-name casinos like FanDuel, so don’t be surprised to see them become even more mainstream as we race towards 2030.
For gambling fans, it’s an exciting time — so don’t be scared to put some of your crypto into an available casino to give it a try.
Founder Dinis Guarda
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