One of the first things that people have come to notice about cryptocurrencies is how it is technically a one size fits all solution to all of the problems posed by fiat currency. Not only is it safer and more secure, but cryptocurrencies can also offer much greater returns to the people who are looking to use it as a currency.
And one place where cryptocurrencies have become especially popular is in the online gambling market. Here, cryptocurrencies have become a large part of the industry, as more and more people are using cryptocurrencies to either pay for more spins or receive their buyouts. Some have even gone out of their way to add cryptocurrencies to their website and other websites offer crypto exclusive gambling.
According to various reports, cryptocurrencies account for over 26% of global turnover for online gambling. This is especially impressive when considering the fact that this report is from March this year. If we were to take a step back and look at how well crypto was doing during the same time last year. More specifically, crypto barely made up 6% of global betting payments. And at the same time, regular currencies declined from 94% last year, to 74% this year, courtesy of the incredible rise in crypto payments in the industry.
One of the major reasons that people can see for this positive rise in cryptocurrencies as a primary form of betting currency, is the rise in both cryptocurrencies and betting platform within Asia. Countries like Indonesia, Japan, and even India have recently made their way to the online betting scene. And given that cryptocurrencies are also very popular in these countries is because citizens are looking for better ways to preserve their wealth.
India is easily setting the trend for other countries with regards to its use and consumption of cryptocurrencies like Ether. This year, Ether has managed to become the main crypto token in the entire country, with more and more citizens now buying Ether tokens. But despite citizens finding new popularity among crypto users, Bitcoin still reigns supreme there. Out of all the crypto traders within the country, over 83% of them had invested a small part of cryptocurrencies.
Other coins within the region like Bitcoin Cash and Dogecoin were also able to rise to 1.5% this year. The upward trend among different countries shows that people have more cryptocurrencies and more disposable income. Therefore, some are looking to buy different things with them, and others are looking to make back for it. As long as the crypto market continues its upward trend and keeps increasing in price, more and more people will be making their to bet through cryptocurrencies.