Over the last couple of years, the online casino world has been taking over the entertainment world like wildfire. In fact, a report by Statista speculates that the number of online casino players might reach 139.9 million by 2029. The same report reveals that the global online casino market is projected to reach USD 46.04 billion in 2029, up from USD 35.12 billion in 2024.
Now, in this same market, a new kind of casino group is steadily rising in popularity. This is the crypto casino. Looking at the statistics, Blockonomi reports a massive surge in the global crypto gambling market from USD 50 million in 2019 to USD 250 million in 2025. Quite impressive, right?
But now, the main question is, why are casinos, including Fortunejack Crypto casino and other similar gaming platforms, gaining so much popularity at this time? This is a question that this article aims at really digging deep and revealing the mystery.
Enhanced security
We can all agree that within the last few years, cyber security has been a major issue in almost all sectors. The online gambling market has especially been a big target, considering the many financial transactions happening every day. Actually, Worldmetrics reported that 70% of online casinos were targets of cyber attacks in 2023.
Because of such incidents, players are looking for payment methods that have the highest levels of security. And what could be better than a blockchain-based payment system?
Just so you know, this system uses an immutable ledger to record transactions. Again, each transaction is encrypted and obtains verification from a number of nodes, making it both secure and transparent. Now, it would take hackers a really long time before they can be able to get to your transactions. With such security, players are just moving towards this mode of payment.
Anonymity and privacy
One of the biggest issues surrounding many online players is anonymity. Sometimes, people just want to play without their personal information being handled by many parties.
Again, people are sometimes not very careful with their personal information online. Actually, a 2017 NortonLifeLock report claimed that 87% of people online leave their personal information lying around.
And that’s where crypto casinos come in.
You see, whereas you need to give out your personal information when dealing with other modes of payment like bank transfers and credit or debit cards, it’s not a requirement when working with crypto. For crypto, you just need the wallet address of the casino and then you can transfer your tokens directly without needing to verify your personal information.
With crypto casinos, you can be sure that the risk of identity theft is massively reduced. Again, this works perfectly well for players who value discretion when playing online casino games. Especially celebrities.
Lower transaction fees
Gambling can sometimes be quite costly, depending on the transactional method you use. The rate of using a direct bank transfer is higher compared to having a crypto transaction. This is because crypto transfers eliminate the need for many intermediaries. You see, the more intermediaries in a transaction, the higher the fees.
Here are some rates that are charged by different payment systems for gambling transactions:
- Bank transfers: These may have flat fees or additional processing fees.
- Credit/debit cards: Transaction fees of 2-5% of transaction value.
- Digital wallets: 1-3% of transaction value.
- Crypto: Depending on the congestion of the network, some casinos can have zero transaction fees. Others can have 0.5% of the transaction value.
As you can clearly see, cryptocurrency is the most friendly form of payment since its fees are very low to zero fees.
Faster transactions
One of the most frustrating things you might encounter is having to wait almost a whole week in order to get the winnings you withdrew. Using conventional banking methods might take you a few days for the transaction to finish processing an instantaneous withdrawal. International transactions are especially notorious for this.
However, crypto transactions are almost near-instant, whether withdrawing or making a deposit. For example, a Bitcoin transaction can take between 10 to 60 minutes to complete while Tether is almost near-instant. As you can tell, faster transactions means a shorter waiting time.
Challenges of crypto casinos
Like with every good thing, crypto casinos come with a few challenges. To start with, since cryptocurrencies are still quite new to people, most players do not have the technical know-how of operating them. You really need some good technical study if you want to either set up a digital wallet, manage private keys or understand how blockchain works. However, this doesn’t mean that if you don’t know about crypto, then it is impossible for you to work with it.
Another major challenge is the regulation of crypto casinos. Well, while many regulators have started embracing the use of crypto, they are yet to license a good number of casinos. Of course this might be risky for players who choose to play in casinos that are not reputable.
