Online gambling

Cryptocurrency will have a positive impact on the online gambling industry in the UK

The rise of cryptocurrency and the UK’s affinity for gambling business have both contributed to the industry’s significant rise and boom in recent years.

It’s no secret that the UK has a strong passion and love for betting, and the iGaming sector of this particular market continues to see some pretty strong and impressive results.

What are some of the numbers?

Indeed, when looking at some of the numbers that have been recorded and the statistics surrounding the gambling industry, it is clear that gambling is a favorite pastime for many.

According to the data that has been found, there are over 25 million gamers in the UK, of which over 10.5 million have started using the online services.

There are strong suggestions that this overall figure will continue to increase in the future given the demographics of the market, it is believed that the older generation still retains a large portion of the overall share, which is perhaps why online gambling is still not as widespread. as many might have expected.

According to the data, the 44-66 age bracket continues to dominate the market, even as the 25-34 age bracket continues to see an increase and skyrocketing in popularity.

It is claimed that 23.1% of them play online each month, while those aged 35 to 54 account for 22% of online games each month.

It is also understood that online gambling contributes around 38.6% of the total revenue of the entire UK gambling market, which is estimated to be worth around £14.3 billion per year. year.

How will the industry continue to grow?

Despite the online gambling industry already appearing to be incredibly lucrative, there are a number of ways to continue to make it even more rewarding, with many operators looking to keep up with the latest trends.

This is where cryptocurrency comes into the equation.

Virtual currency has entered the mainstream market in recent years and many in the gaming community have taken notice.

Many are now looking to play crypto roulette and slots with Bitcoin, while operators are looking for ways to introduce a number of payment solutions that can benefit anyone who wants to use digital assets for one. of their favorite hobbies.

Are there any benefits players can derive from introducing crypto-gaming?

Those who are aware of the benefits that cryptocurrency can bring them in normal day-to-day transactions will immediately realize that they can also enjoy many benefits when participating in online betting as well.

The list of benefits is rather long, but this can only be considered a good thing, as the iGaming industry can benefit from it in many different ways.

Both enjoy a significant level of protection in various ways, with protected transactions, as well as important data and financial information.

This means that it will be more difficult for hackers to try to break in and steal them.

Additionally, blockchain technology can make transactions transparent, while helping to provide a level of anonymity for users who wish to try and hide their gambling activities from prying eyes, such as financial institutions like banks.

Perhaps one of the biggest benefits many have experienced when using crypto for any transaction is that they are generally cheaper while being much faster than traditional fiat payments.

Indeed, the banks are not involved in the process, so there is no need to pay additional fees to allow the transaction to be completed.

Final Thoughts

With the list of benefits outlined above and the continued evolution of the UK iGaming industry, it should come as no surprise to see crypto options become even more available in the future, while the usage and adoption of gamers using these platforms are also expected to see a significant increase as well.