Independent research by Casino Sites Online supports recent findings that regular UK online gamblers are buying and trading cryptocurrencies like Bitcoin.
Data gathered into the attitudes and behaviours of online gamblers in the United Kingdom shows a strong relationship between people that regularly gamble online and those that have bought and will buy in future, decentralised cryptocurrencies like Bitcoin.
According to the data, the number of UK online gamblers that are buying Bitcoin, Ethereum and other cryptocurrencies increased significantly in 2021.
Across 2021, more people have joined the cryptocurrency investing and trading community and it is now easier than ever to start by using popular exchanges.
High profile news stories and the rapid price rise of Bitcoin between the end of 2020 and May 2021 drew interest and investment in digital currencies from more of the public than ever before, including online gamblers.
Casino Sites Online data analysis found massive interest in the UK for cryptocurrency, increasing across 2021 to May, versus a flat level of interest in online casino. This flat level of interest in online casino occurred despite lockdown restrictions forcing the public to stay indoors and therefore switch entertainment expenditure to online sources.
There are many reasons why casino players might want to find an alternative to regulated online gambling sites. The online gambling experience for some players during covid lockdown has been affected by additional, temporary licensing requirements for operators relating to player safety.
This has resulted in more gamers joining sites where they can buy or trade Bitcoin and other coins.
Regular gamblers have experience in making bets that do not win. They have greater acceptance of risk in the hope of achieving a favourable outcome than the general public.
Regular online gamblers are also more familiar than the general public with digital currencies. Depositing, wagering and withdrawing back to your payment method at online casinos all takes place digitally. This is another reason why British gamblers more likely than the public in general to use digital cryptocurrencies.
What Will Happen Next?
Crypto is making its way into the mainstream in significant ways. Those not offering Bitcoin transactions may get left behind.
Established, global financial brands such as Mastercard and PayPal recently announced that they will begin to accept cryptocurrency. This increased legitimacy for the reputation of digital currency.
Among the British adults that gamble online at least once a month, 17% are likely to use some form of cryptocurrency in the next 12 months. This is considerably higher than the 11% of British adults in general who said the same.
With this level of interest, it will be impossible for gambling operators and the best online casino websites to ignore.
We should expect to see them and new casino sites make Bitcoin and other cryptocurrency deposit options available. Online casinos with decentralised money payment methods should become the norm in the near future.
Over the next few years, will we see casinos accepting Bitcoin payment method for depositing and withdrawing become as common as casino sites with PayPal?
The online casino industry and GB Gambling Commission will need to monitor how quickly cryptocurrency usage is adopted by the UK population and provide payment options and casino games in a regulated environment that meet UK customers needs.
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