Crypto Casino Research – 2023 Statistics, Trends & Predictions

Winston Todd

Hi, friend! My name is Winston Todd and I like to have a nice time. I bet, that’s everyone’s motif.

As long as I remember myself, I’ve been passionate about games. It’s emotions, it’s a thrilling experience and also making money experience if proper strategy.

I know it’s hard to find a safe casino with quality games. You never know if a new casino would pay out fairly. Or, are their games rigged or not. The job of finding a good honest brand is a time-consuming task.

So, I’ve created that website to help people in searching for quality platforms for gaming. I’ve tried a lot of casino sites made for British and foreign players.

As of 2023, the crypto casino industry has witnessed significant growth, driven by the increasing acceptance of digital currencies and advancements in blockchain technology. These platforms not only cater to a niche market of crypto enthusiasts but also attract a broader audience seeking alternative online gambling experiences.

Unlike conventional online casinos that rely on traditional banking methods, Bitcoin casino sites operate with a degree of decentralization. This aspect not only impacts their operational dynamics but also influences their regulatory challenges. Different jurisdictions have varying approaches to regulating these platforms, reflecting the complex interplay between technology, law, and market demand.

The rise of crypto casino sites marks a notable shift in the online gaming landscape, introducing new opportunities and challenges. This report aims to provide a clear and concise overview of the current state of crypto casinos in 2023, focusing on their operations, market presence, and the unique features that distinguish them from traditional gambling platforms.

Crypto Casino Market Size 2023

In 2023, the global casino market, inclusive of traditional and online gaming sectors, has reached an impressive valuation of $279.3 billion, as reported by Ibis World. This robust figure underscores the industry’s dynamic recovery and growth trajectory following the challenges posed by the COVID-19 pandemic. Contrary to initial setbacks during the pandemic, the gambling industry not only rebounded but also accelerated its expansion in 2022 and 2023.

The resilience of this sector is evident in its performance during the first half of 2023, with revenues approximating $263.3 billion, a testament to its persistent momentum. Despite the economic turmoil induced by the pandemic, gambling operators, in particular, recorded unprecedented revenues, significantly contributing to this surge.

As the industry outpaces the overall economic growth rate, it stands as a beacon of stability, even amidst potential recessionary pressures. Experts have forecasted a promising growth of 6.7% by the end of 2023, a figure that may well be surpassed given the sector’s current trajectory. This growth not only reflects the industry’s adaptability but also cements its position as a viable and lucrative investment in an otherwise fluctuating economic landscape.

Crypto Casino Statistics – 2023 Data

In 2023, the landscape of crypto casinos has shown remarkable trends and transformations, underpinned by significant statistical data.

We explore key metrics such as the surge in total crypto bets and the increased market share of cryptocurrency in iGaming, revealing a renewed optimism and robust recovery in this sector.

1. More than 75% of crypto casinos offer provably fair games in 2023.

An impressive 77.6% of crypto casinos now feature provably fair games, according to Bitrates. These games introduce an additional dimension of transparency that sets them apart from traditional casino offerings.

With provably fair games, players have the unique ability to verify the outcomes of each game they participate in. This feature has made these games particularly popular among crypto gambling enthusiasts who prioritize both transparency and security in their gaming experience.

2. Almost 52% of crypto casino players choose slots in 2023.

According to a study by CasinosBlockchain, slot games emerge as the clear favorite among crypto casino players, with approximately 52% expressing a preference for them. Meanwhile, roulette holds the interest of 28% of the players.

The survey also sheds light on the popularity of more specialized games within the crypto gambling community. Notably, 5.70% of players are drawn to Bitcoin Crash, while Plinko and Baccarat are favored by 4.60% and 4.50% of gamblers, respectively.

Additionally, a diverse array of other games, including various card games, lotteries, and sports betting, collectively attract 5.30% of the player base.

3. There are more than 2,000 crypto casinos as of December 2023.

According to research by Crypto Casinos 360, about 30% of more than 2,000 crypto casinos operational as of December 2023 exclusively accept cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Dogecoin, and Cardano.

The remaining 70% are classified as hybrid crypto casinos, meaning they accept both cryptocurrencies and traditional payment methods like credit/debit cards and bank transfers for deposits and withdrawals.

Interestingly, around 5% of these casinos are decentralized casinos, which means they operate on a blockchain platform, allowing for peer-to-peer interactions and transactions without the need for a central authority.

4. As of December 2023, 50% of BTC transactions are related to the crypto gambling industry.

According to Before You Bet, approximately half of all Bitcoin transactions are linked to gambling activities. While Bitcoin has not yet achieved widespread adoption, its acceptance is steadily increasing across various sectors.

Today, Bitcoin is used for a diverse range of purchases, including real estate, vehicles, jewelry, NFTs, and even insurance policies. However, despite its expanding utility in the broader e-commerce landscape, the most significant portion of Bitcoin transactions still takes place within the realm of crypto casinos, underscoring the dominant role of gambling in the cryptocurrency space.

5. Bitcoin’s share decreased from 83% in Q1 2021 to 72% in Q1 2022.

According to Crypto Reporter research, in the first quarter of 2022, there was a notable shift in the preferences for cryptocurrencies used in betting. While Bitcoin remained the dominant currency for crypto bets, its share decreased from 83% in Q1 2021 to 72% in Q1 2022. 

Concurrently, Ethereum’s usage for bets increased, rising from 10% to 13.45% over the same period. This trend was further accentuated by the growing popularity of other cryptocurrencies like Litecoin, which accounted for 6.45%, Dogecoin at 2.56%, and Tether, a tokenized dollar, at 2.79% in 2022.

6. As of November 2023, the European Region is leading in iGaming, with a total revenue of $43.01 billion.

In the third quarter of 2023, Europe solidified its position as the leading region in the global online gaming market, boasting a revenue of $43.01 billion, according to Statista. This market encompasses a diverse array of countries across Central, Western, Eastern, Northern, and Southern Europe, with Europe leading the global ranks in terms of online betting revenue for this period.

A significant contribution to Europe’s dominance comes from Central and Western Europe, which collectively generated $28.77 billion, the highest revenue among all continents. Within this region, the United Kingdom stands out as the primary contributor, accounting for $12.83 billion of the revenue.

Following Europe, the American continent, encompassing Central, North, and South America, ranks as the second highest in terms of online gaming revenue, with a total of $29.64 billion.

The 2023 global rankings for Online Gambling Revenue based on regions are as follows:

• Europe (including Central, Western, Eastern, Northern, and Southern Europe) leads with $43.01 billion.
• The American region (comprising Central, North, and South America) follows with $29.64 billion.
• Asia (encompassing Central, Eastern, and Southeast Asia) records $17.27 billion.
• Oceania, which includes Australia and New Zealand, totals $10.93 billion.
• Africa, specifically Southern Africa, contributes $736.3 million.

In terms of the online gambling population, the American region holds the highest number of users in 2023, totaling 81.2 million online bettors. The user base across other regions is distributed as follows:

• America, comprising Central, North, and South America, has the largest user base with 81.2 million users.
• Europe, including Central, Western, Eastern, Northern, and Southern Europe, has 52.3 million users.
• Asia, covering Central, Eastern, and Southeast Asia, accounts for 31.7 million users.
• Oceania, represented by Australia and New Zealand, has 5.6 million users.
• Africa, focusing on Southern Africa, has a user base of 5.5 million.

7. BC.Game accepts more than 100 cryptocurrencies as of December 2023.

Online casinos are evolving, most of them tried to lead the crypto segment. According to Crypto Casinos 360 data, BC.Game accepts a record number of cryptocurrencies as of December 2023. Among these 100 coins, there are well-known ones like Bitcoin, Solana, Ethereum, Dogecoin. 

But!

You can also find rare coins like Cronos (CRO), DigiByte (DGB), or Gods Unchained (GODS). This gives you not only a broad choice of payment methods, but some cool and highly-potential indeas of investments. 

8. As of 2023, almost 80% of bingo fans are female.

According to Casino.org report, significant trend in the global gambling landscape is the increasing participation of female players, particularly in online bingo. This demographic shift is a key factor for industry analysts assessing market trends beyond national progress. Currently, women are contributing more than ever to both the profit margins and user engagement in the online gaming sector.

Specifically, in the realm of online bingo, which boasts around 100 million players globally, an overwhelming majority, comprising 70% to 80%, are women, predominantly aged between 30 and 50 years. This statistic highlights the rising rate of female gamblers and their substantial presence in the online bingo community, marking a notable change in the player demographics of this popular online game.

9. Men are 81% more likely to be categorized as at-risk or problem gamblers compared to women.

Gambling addiction is a significant concern in the gambling world, with men showing a notably higher propensity for problematic gambling behaviors. Specifically, men are 81% more likely to be categorized as at-risk or problem gamblers compared to women. This trend is partly attributed to the higher rates of online gambling sites participation among men.

Key statistics shedding light on the issue of problem gambling include:

• In the United States, an estimated 20 million people are considered at risk of developing gambling problems.
• In California alone, individuals who struggle with gambling addiction spend an average of $46,000 annually.
• The risk of suicidal thoughts and actions is alarmingly higher among problem gamblers, being 15 times greater than among those who do not gamble.
• Slot machines are a particularly prevalent form of gambling among those with problems, with 74% of problem gamblers engaging in this type of gaming.

10. Crypto gamblers spend around $3 million in cryptocurrencies every day.

Crypto gambling market is experiencing unprecedented popularity. On a daily basis, gamblers are wagering approximately $3 million in cryptocurrencies. This surge in activity is further evidenced by the growing number of crypto gamblers, with around 30,000 individuals using digital currency for betting and crypto casino games at Bitcoin casinos at least once every week.

Crypto Casinos Statistics in the US – December 2023

1. Americans may spend about $23 billion on online gambling in 2024.

The United States, retaining its position as the largest market for online gaming globally, is projected to experience the most significant growth in the sector. Based on a Statista report, it is estimated that in 2024, American expenditure on online gambling will be about $23 billion, representing an increase of 21% from the current year. 

In comparison, the growth in other major markets like the UK and Australia will be relatively slower. For the UK, online gambling revenue is forecasted to rise by 7% on a year-on-year basis, reaching $14 billion in 2024. Meanwhile, Australia is expected to see its gambling revenue grow by 11% year-on-year, amounting to roughly $10 billion.

2. 13% of online gamblers engage in sports betting at least once monthly.

In the United States, sports betting has become a regular activity for a significant portion of gamblers, with 13% engaging in sports betting at least once monthly. The market for sports betting in the U.S. has seen substantial growth, generating $920 million in revenue in 2019. This growth trajectory is further supported by regulatory changes, as 41 states have implemented sports betting regulations since 2018, projecting the annual revenue in the U.S. to soar to $8 billion by 2025.

Sports betting is deeply ingrained in American culture, reflecting the country’s long-standing passion for sports. The U.S. is renowned for hosting some of the world’s most prominent sports leagues and showcasing top-tier athletes. Additionally, the popularity of Fantasy Sports Betting in the U.S. highlights the American public’s strong enthusiasm for sports, further emphasizing the cultural significance of sports betting in the country.

3. Over 20 million US gamblers suffer from a gambling addiction.

In the United States, the issue of gambling addiction is widespread, impacting over 20 million individuals. This encompasses a broad spectrum of gambling activities, with estimates indicating that between 1% and 6.2% of the entire U.S. population is affected by gambling addiction. This includes all forms of betting, from traditional gambling to social games, which are also known to contribute to problem gambling behaviors.

Further insights from another study reveal that among the 5 million Americans dealing with compulsive gambling, only about 8% are likely to actively seek help for their addiction. This statistic highlights a concerning reluctance or lack of resources for addressing such addictions.

Additionally, the transition from casual to extreme gambling is a notable risk. Starting with seemingly harmless betting, individuals can gradually escalate to more serious levels of gambling, leading to problematic and potentially harmful behaviors.

Crypto Casinos Statistics in the UK – November 2023

1. The Gross Gambling Yield (GGY) for Remote Casino, Betting, and Bingo (RCBB) sectors amounted to £6.5 billion.

A significant portion of this, specifically £4.0 billion, was generated by online casino games. Within this category, slots games were particularly lucrative, contributing £3.2 billion. This fact highlights the dominance of online casino games, especially slots, in the RCBB sector. The popularity of slots could be attributed to their ease of access, simplicity, and the engaging experience they offer, making them a primary revenue driver in online gambling.

2. Increase in new account registrations with RCBB operators, up 10.6% to 36.4 million.

There was a notable increase in new account registrations with RCBB operators, up 10.6% to 36.4 million, compared to the latest pre-lockdown period, marking a 21.8% increase. Additionally, the number of active accounts rose by 4.0% to 36.4 million, a 21.0% increase from the pre-lockdown figures. These statistics indicate a significant surge in gambling activity post-lockdown. 

This trend could be attributed to factors such as increased leisure time at home, the search for digital entertainment alternatives during lockdowns, and the growing ease and accessibility of online gambling platforms. Despite a 3.6% decrease in total funds held in customer accounts compared to the previous period, there was a 26.7% increase compared to the last pre-lockdown period, reflecting a longer-term upward trend in gambling engagement.

3. In 2022, the United Kingdom ranks second both in terms of revenue and user penetration. 

In 2022, the United Kingdom secured a prominent position in the global gambling market, ranking second both in terms of revenue and user penetration, according to Statista. The country’s active engagement in online betting is highlighted by its 18 million bettors. Specifically, the UK’s online gambling revenue reached £9.46 billion (equivalent to $11.71 billion), while its user base stood at 26.2 million.

However, the UK was surpassed by the USA in revenue and Canada in terms of user penetration. The global standings for 2022 in the gambling sector are outlined below.

For Online Gambling Market Revenue:

1. USA leads with $14.96 billion.
2. UK follows with $11.71 billion.
3. Australia is third with $8.06 billion.
4. Japan comes in fourth with $4.86 billion.
5. Germany ranks fifth with $4.52 billion.

Regarding Online Gambling User Penetration:

1. Canada tops with 44.5 million users.
2. UK is second with 26.2 million users.
3. Australia has 17.6 million users.
4. Finland follows with 16.3 million users.
5. South Korea is fifth with 12.6 million users.

Crypto Casinos Statistics in Europe – December 2023

1. Spain recorded a notable 18% increase in its gross gaming revenue in Q2 2022.

In the second quarter of 2022, Spain recorded a notable 18% increase in its gross gaming revenue, underscoring the steady and robust growth of its gambling market. Renowned as one of the world’s most enthusiastic gambling nations, Spain’s market is expected to expand at a compound annual growth rate (CAGR) of 13% from 2023 to 2028, highlighting its significant economic impact.

A closer examination of the Spanish online gambling scene reveals that online slot machines are overwhelmingly favored by players, dominating the industry’s market share. Breaking down the contributions of various online casino games to the market, slots lead with a substantial 62.4%. This is followed by sports betting at 36.97%, roulette at 28.8%, poker at 8.36%, and bingo, which contributes 1.53%. This distribution reflects the diverse preferences of players in the Spanish gambling market.

2. In 2022, Finland’s online gambling market generated approximately €1.03 billion in revenue.

In 2022, Finland’s online gambling market experienced significant growth, generating approximately €1.03 billion in revenue, marking a 24.1% increase from the previous year. The Finnish gambling industry operates under stringent regulations, primarily overseen by the state-owned monopoly, Veikkaus, as per the Finland Lotteries Act (1047/2001).

Veikkaus accounted for 50% of the country’s online gambling market revenue in 2022, though it reported a slight decline of about 3% from the previous year. Moving forward, the second quarter of 2023 witnessed the Finnish government implementing a hybrid gambling regulation. This new framework combines a licensing system with the existing monopoly of Veikkaus. 

3. Sweden’s online casinos industry brought over 62% to the total gambling market revenue.

During the second quarter of 2023, Sweden’s online gambling sector, which includes online casinos and sports betting, played a significant role in the nation’s gambling industry, accounting for over 62% of the total gambling market revenue. In monetary terms, this translates to approximately SEK 4.18 billion, or around $376.1 million, representing 62.4% of Sweden’s total gambling revenue for the period.

However, this impressive contribution marks a slight decrease of 1.1% compared to the same quarter in the previous year, 2022. Despite this minor dip, Swedish online gambling operators collectively brought in substantial revenues, totaling SEK 8.36 billion, equivalent to about $752.2 million. This figure underscores the substantial impact and importance of the gambling segment within the broader Swedish gambling market.

Crypto Casinos Expectations in 2024 and Beyond

1. The number of players in the online gambling industry may reach 129.3m users by 2028.

By 2028, the online casinos market is expected to witness a surge in user base, reaching approximately 129.3 million users. This growth is largely driven by the widespread adoption of digital technologies, making online gambling platforms more accessible and engaging. 

The expansion of internet connectivity globally, particularly in emerging economies, is significantly broadening the potential customer base. Additionally, the gradual easing of regulatory restrictions in various regions is opening new markets for online casinos. Furthermore, innovative advancements in the sector, including the integration of virtual and augmented reality, are enhancing the user experience, thereby attracting a diverse and growing audience.

2. The 2024 revenue from sports betting is projected to rise by 12%, hitting $107.3 billion. 

Sports betting emerges as the most rapidly expanding segment in the online gambling market. A 2022 Statista survey revealed that globally, expenditures on online casinos, lotteries, and betting apps reached $80.8 billion. This figure is expected to see a 17% increase, reaching approximately $95 billion in 2023. 

While the growth rate is predicted to decelerate in 2024, the revenue is still projected to rise by 12%, hitting $107.3 billion. A significant portion of this revenue, nearly 46%, is attributed to online sports betting, which stands as the market’s largest and fastest-growing sector. In 2024, online sports betting is poised to contribute almost $50 billion in revenue, marking a 15% increase from 2023. 

Other major contributors include online casinos and online lotteries, generating revenues of $38.9 billion and $18.3 billion, respectively. The industry’s growth trajectory is expected to be significantly influenced by the advent of new gambling technologies such as Augmented Reality (AR) and Virtual Reality (VR), along with enticing bonuses and promotional offers.

Future of Crypto Casinos – Is It Bright?

The future of crypto casinos shows significant promise, largely driven by the rapidly evolving landscape of blockchain technology and the growing mainstream acceptance of cryptocurrencies. This technological revolution is enhancing the appeal of crypto casinos, offering improved transaction speeds, heightened security, and a level of anonymity not typically found in traditional online casinos. These features are particularly attractive in the realm of online gambling, where privacy and security are paramount.

However, the trajectory of crypto casinos isn’t without its challenges. The regulatory environment remains a major factor that could shape the future of this industry. As governments and regulatory bodies around the world grapple with how to approach cryptocurrencies and online gambling, the fate of crypto casinos hangs in the balance. Positive regulation could lead to significant growth and mainstream acceptance, while stringent restrictions could hinder their development.

Moreover, the overall health and stability of the cryptocurrency market play a crucial role. A robust and growing crypto market could encourage more users to participate in crypto gambling, while volatility or a downturn in the market could dissuade potential gamblers.

Another aspect that could determine the future success of crypto casinos is how they integrate emerging technologies. Innovations such as VR could revolutionize the online gambling experience, making it more immersive and appealing. Such advancements could attract a new wave of users seeking cutting-edge gambling experiences.