The online gambling industry is a particularly lucrative one, with the global online gambling market size coming in at around $63.5 billion in 2022. But many payment processors out there refuse to accept payments to and from online gambling websites, causing problems for many players.
Crypto presents the perfect solution for online gambling companies looking to broaden their customer base and mitigate against the lack of acceptance from more traditional payment options. While crypto casinos used to be a niche service, many of the world’s largest online casinos and sportsbooks now accept crypto payments, showing that crypto has pushed its way into the mainstream.
Online Gambling Payments with Cryptocurrency
Online gambling sites are severely restricted in many countries and states, falling into a grey area. Through an abundance of caution, many payment processors, including credit card companies and e-wallets, restrict gambling transactions. This is not the case with cryptocurrency.
Crypto is anonymous, so there’s no telling where the payer is and how they’ve funded their crypto wallet. This is why many gambling sites offer crypto – without it, they would be losing out on a huge chunk of the market.
Don’t think that the crypto market is niche, as there are now estimated to be over 420 million crypto users worldwide. While many are investors with no inclination to spend their crypto, others actively use crypto to pay for various online goods and services, including deposits at online gambling sites. This is why a crypto acquiring platform at an online gambling site is now vital.
Other Advantages of Crypto
Other reasons exist to have a crypto acquiring platform at an online gambling site. The biggest is that it boosts the customer experience for many. More traditional payment methods can have long withdrawal times and be clunky to use, but crypto withdrawals can take just a few minutes and are exceptionally simple – tap in the withdrawal amount and wallet address, and then wait for your money!
Many customers also love that crypto deposits and withdrawals have exceptionally low fees. Payment methods such as e-wallets can take 2% or more of a withdrawal, but crypto will cost a fraction of that.
By boosting the player experience and slashing fees, adding crypto will increase player numbers and help the gambling site grow and appeal to new demographics.
Integrating a Crypto Acquiring Platform from KUNA
Many companies are put off implementing a crypto acquiring platform due to concerns over its complexity. But this is a misconception, as when you work with the KUNA platform, we’ll be with you for the entire process, making integrating the platform with your business exceptionally simple.
There are many reasons to choose the crypto acquiring platform from KUNA, including features like auto-conversion and turnover management. Moreover, it makes the user experience exceptionally simple, encouraging users to deposit and withdraw using one of the many cryptocurrencies you can accept. To find out more, contact KUNA today.