Seeing the casino industry hit highs of $163.6 billion according to Business Wire’s approximations shouldn’t surprise you at all. This sector, which was once niche, has grown to have a global appeal because of innovations that draw the attention of many.
For instance, after the first online platform emerged in the late 20th century, many players joined the industry because of the convenience of accessing entertainment. Other advancements, like the rise of live dealer online casino games, have also contributed to the industry’s further spread.
And now, we are at a time when innovations seem to be the order of the day, with operators already implementing technologies like crypto to stay ahead. But do you think that can be a worthwhile decision to make? Read on to discover for yourself.
The growing importance of instant payments
Do you actually know that, according to PYMNTS.com, about 78% of consumers rank instant payment as a very important aspect of their customer satisfaction experience? It seems as though no one expects their funds to be delayed, especially now that we have the needed infrastructure to ensure instant transactions.
Plus, remember that payment methods contribute a great deal to the experience players have on a particular platform. In fact, you may be surprised to discover that, according to Electronics Payments International, 59% of businesses consider payments as a very important aspect of their customer experience strategy.
And since most customers consider instant payments important, online casinos are taking advantage of crypto’s abilities to cater to these preferences. For companies, especially international ones, tokens like Solana can be very handy. Can you imagine you can facilitate up to 65,000 transactions per second with Solana alone? At a time when offering seamless experiences can help improve competitiveness, such abilities can really be handy.
Don’t also forget that besides speed, crypto transactions are cheaper. You don’t need intermediaries that often make traditional payment methods slower and expensive. As long as players have their crypto wallets in place, they can complete the transactions cheaply within a matter of seconds.
Improving customer-centricity
Just a few years ago, checkout.com issued a report stating that 39% of customers expected crypto to be used not only for investments but also for payments. This agrees with another study by PYMNTS.com, which claims that 46 million consumers intend to use crypto to transact. And have we even mentioned that Exploding Topics approximates the number of crypto users to be about 1 billion?
Just imagine yourself missing out on such a population just because you didn’t include a payment method that they’d prefer. Well, this is not something any operator craves for. After all, almost every businessman desires to provide relevant customer experiences in a bid to attract and retain most of them.
And you’d be surprised to discover that going in this direction can actually benefit your business. As per Superoffice CRM, ensuring customer-centricity can boost your profits by up to 60% compared to if you don’t. Now that acquiring customers in this sector is becoming extremely competitive, we may see more operators integrate crypto payments to improve their competitiveness.
Reaching a wider audience
As an operator targeting a global audience, it should actually concern you that the world is yet to be 100% financially inclusive. There’s still a considerable number of individuals without access to formal bank accounts and other financial services. In fact, recent studies by FinDev Gateway claim that only about 76% of the world’s population has access to such.
But if you want to reach global audiences, you must devise ways of reaching them. That’s where crypto-based payments come in. Imagine if a player wanted to participate on your platform but could not just because they lacked an official bank account. That already gives competitors an edge over your brand, which you don’t want. With crypto, players have fewer barriers to entry, as the requirements to have an account are easy to meet.
Plus, remember that players have become more conscious of their safety and privacy nowadays. No one wants to participate in an environment that could expose them to attacks. In fact, if players perceive your platform as insecure, a significant number might never transact with you. But thankfully, crypto transactions are more secure than traditional methods.
Its distributed nature removes the risks of single-point failure associated with traditional methods. That ensures that even if an entity is attacked, the others can continue running seamlessly without affecting the entire network. Plus, the cryptographic hashes used in encrypting data make it difficult for unauthorized persons to access data. And have we even highlighted crypto’s anonymity, which allows players to interact without disclosing their personal identities? With these advantages, implementing crypto on your platform can give the impression that you’re concerned about users’ safety, which could result in higher retention rates.
It actually should now be clear that crypto offers online casinos amazing features that can help them improve their competitiveness. At a time when acquiring new players and retaining existing ones is becoming super competitive, crypto technology offers a lucrative opportunity to stand out.
Let’s take instant payments, for instance. This technology allows transactions to be completed not only within minutes but also cheaply. And now that many modern players are seeking such solutions, we may actually see more operators adopt crypto to stay ahead.
Also Read: The Impact of Cryptocurrencies on Finance in 2025
