Did you know that, according to Mordor Intelligence, the overall online gambling market stands at $91.63 billion and could surge to $153.6 billion by 2030? This sector, which was once niche, has grown to become a global phenomenon, drawing the attention of billions worldwide. This could be the reason Cision News thinks 4.2 billion people gamble at least once per year.
Part of why this industry enjoys global influence is the popularity of online platforms, which make it possible for players to access gambling experiences from anywhere at any time. Besides that, operators have also been integrating innovative features like advanced bonuses to widen their reach. And with platforms like Betterbonus.com emerging, accessing these bonuses has never been as convenient as it is today.
The industry is also opening its doors to intriguing technologies like blockchain to cater to contemporary preferences and keep players more connected. You may actually be surprised to learn that, according to Value the Markets, crypto casinos generated over $81 billion in 2024 alone.
If that’s not enough, the share of bets settled on the European Gaming and Betting Association (EGBA) operators climbed from 3% to 22% in only three years. These statistics show blockchain technology is already leaving a mark on the industry, and reading on, you will understand why.
Modern gamblers want efficient payments
As you may know, one of the reasons the gambling industry is attractive is the allure of instant gratification. Unlike many areas of life, where rewards are delayed, gambling compresses the cycle of anticipation into seconds. In such an industry, you don’t want to offer transaction delays; otherwise, you may soon be outpaced by competitors. When a player cashes out, they don’t want to wait days; they want their money right away. And when they top up, they expect it to land in their account instantly, ready for the next bet.
Such preferences are not new in the broad e-commerce sector. PYMNTS.com published a report claiming that 78% of shoppers consider instant payments crucial to their shopping experience. Testlio also weighed in, citing payment delay as the reason brands see a reduction in conversion rates by up to 20%. According to Testlio, failing to provide instant payments can frustrate up to 70% of consumers, who expect transactions to be processed in no more than two seconds.
This is where blockchain-based payment systems come into play. These systems improve transaction speed by removing the need for funds to go through multiple third parties. That way, players are able to complete their transactions in as little as 400 milliseconds. Removing the need for third parties also reduces associated costs.
Robust networks like Solana can reduce the costs to as low as $0.00025. Of course, when customers find such experiences, they can easily become loyal, which explains why operators are increasingly adopting blockchain-based technologies.
Catering to trust-conscious players
It shouldn’t be surprising that modern consumers are becoming increasingly concerned about their online security. Cyberattacks have become rampant, and just a slight mistake could cost them severe losses. Since no one wants to fall into the hands of malicious actors, it makes sense to see gamblers become increasingly attentive to online security.
Just recently, Sumsub reported a 64% increase in iGaming-related attacks between 2022 and 2024 alone. Now that cybercriminals are always innovative, this figure could increase even more in the coming days. Gamblers are aware, so they only want to interact with brands their security needs in mind. If they doubt your platform’s security, they may be discouraged from further exploration.
This worsens when they hear rumours about your involvement in a data breach. According to Apex Technology Services, you risk losing up to 47% of customers, who may never transact with hacked organisations again. Worse still, you may incur significant financial losses while trying to recover from the attacks. Such losses provide reasonable grounds for the integration of blockchain because it is more secure than many traditional infrastructures.
Blockchain is immutable, so no alterations can be made once data is input and validated. When it comes to transparency, the technology still carries the day. Instead of relying on an operator’s promise, the RNG inputs can be hashed on-chain so anyone can verify a result after the fact. This is helpful because disputes that once required customer support can now be validated in minutes by anyone with a block explorer.
The power of prioritising players
Given the gambling industry’s competitiveness, you always want to provide relevant experiences that will encourage players to return. Remember, acquiring new customers can cost you up to 25 times more than retaining an existing one. This is why you can’t afford to ignore preferences like instant payments and safe gambling.
Catering to them shows your commitment to providing excellent gameplay experiences, which can help boost your reputation. This can be a critical differentiating factor, separating your brand from the crowded market.
Prioritising shifting customer preferences also improves profitability because it makes your brand feel customer-centric. And according to SuperOffice CRM, such brands tend to have up to 60% more profits than those that aren’t customer-focused.
These are benefits no forward-thinking operator would want to miss out on. As such, you shouldn’t be surprised to see blockchain’s popularity in the gambling sector increase because operators are turning to it to maintain their edge.
