The number of cryptocurrency bets in iGaming grew by more than 66 percent in the first nine months of 2023. Crypto, however, did not keep pace with the amount of traditional currency wagered in onlinethe first three quarters of 2023, compared with a 32.8 percent market share during the sameBitcoin is still the leading cryptocurrency used in iGaming, representing roughly 75% of the crypto use. Meanwhile, Dogecoin , a popular “meme coin,” represented 3% of the crypto used in online casinos..
As the U.S. iGaming market grows, however, the use of crypto in that sector isn’t likely to follow. Cryptocurrency still operates in a legal gray zone in the U.S., which makes its adoption more difficult for regulated companies. Although, there is certainly interest in seeing better crypto integration in the U.S. gaming space. But sports betting, not iGaming, may be where crypto gains traction.is well-known for its early acceptance of cryptocurrencies.
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