Most Popular Cryptocurrencies in Gambling - Bitcoin in the lead

[NewCryptocasinos]

We just had a look at SoftSwiss gambling reports on crypto gambling and the most common cryptocurrencies used for online gambling with crypto.

We are a bit surprised about the list below. We are not surprised to see BTC in the lead; it's the king of gambling and the king of everything else as well, hehe. However we were pretty sure we would find Tron or at least Solana in the top 5. I mean, Litecoin has been a very popular currency for gambling in the past, but who bet with it nowadays?

What do you guys think about the list? I mean, SoftSwiss is a very trustworthy source, since they have data from a large number of casinos, but isn't it a bit weird?

Most Popular Cryptocurrencies in iGaming

Bitcoin (73.3%)
Ethereum (9.9%)
Litecoin (6.6%)
Tether (4.6%)
Dogecoin (3.1%)

Source
https://www.softswiss.com/news/state-of-crypto-2023-report/
https://wagerx.io/

[Dave1]

We just had a look at SoftSwiss gambling reports on crypto gambling and the most common cryptocurrencies used for online gambling with crypto.

We are a bit surprised about the list below. We are not surprised to see BTC in the lead; it's the king of gambling and the king of everything else as well, hehe. However we were pretty sure we would find Tron or at least Solana in the top 5. I mean, Litecoin has been a very popular currency for gambling in the past, but who bet with it nowadays?

What do you guys think about the list? I mean, SoftSwiss is a very trustworthy source, since they have data from a large number of casinos, but isn't it a bit weird?

Most Popular Cryptocurrencies in iGaming

Bitcoin (73.3%)
Ethereum (9.9%)
Litecoin (6.6%)
Tether (4.6%)
Dogecoin (3.1%)

Source
https://www.softswiss.com/news/state-of-crypto-2023-report/
https://wagerx.io/

Perhaps Solana and Tron is very quick as far as deposit transaction is.

So Bitcoin as you have said, there should be no surprises as one of it's first use case if not the first is about online crypto gambling. Those are days that we also need withdrawal address and there are no mandated KYC.

Maybe one of the surprises crypto in the list is Ethereum, the gas fees are very high as compare to let's say Bitcoin. So it doesn't make sense for gamblers to use it. But in the list I have used BTC, LTC and Tether.

[Dr.Bitcoin_Strange]

If SoftSwiss is really trusted data source, then the data could be accurate because am not even surprise that Bitcoin is the most popularly used coin on the online casino, perhaps which only casino that doesn't add Bitcoin as part of their ctypto? I have not seen any casino that doesn't use Bitcoin and as we know, Bitcoin is a universal coin and casino too trust the solidity of the coin which is why they will mostly use it.

[OcTradism]

Most Popular Cryptocurrencies in iGaming

Bitcoin (73.3%)
Ethereum (9.9%)
Litecoin (6.6%)
Tether (4.6%)
Dogecoin (3.1%)

Bitcoin is a first successful cryptocurrency, and it leads blockchain and cryptocurrency industry and market since 2009. It has highest market cap and biggest trading volume, so naturally gambling sites or online platforms have many reasons to consider Bitcoin as their first accepted cryptocurrency before any altcoin.

If you don't take Tether USDT into account, you will see rest coins are very old cryptocurrencies from Bitcoin, Ethereum, Litecoin to Dogecoin, they are all old altcoins.

New altcoins can die and centralized and online platforms have more reasons and fear of listing/ accepting those new altcoins.

How many cryptocurrencies failed?

[HeRetiK]

Tether is kind of a no-brainer, but with Litecoin and Dogecoin I assume it's mostly because they've been around quite a bit longer than Solana and Tron. So older Casinos will offer them even if they haven't added new currencies for a while and newer Casinos will offer them because the older ones do. And in the end users will use whatever currencies are made available to them.

[freedomgo]

Bitcoin still dominates here, which isn’t surprising as network fees are very cheap right now, and Bitcoin remains bullish, making it even more attractive for gambling. I was just a bit surprised TRON didn’t make the list, since I personally use USDT (TRC20) for gambling, and I thought a lot of people were using it too.

[Lida93]

What do you guys think about the list? I mean, SoftSwiss is a very trustworthy source, since they have data from a large number of casinos, but isn't it a bit weird?

Most Popular Cryptocurrencies in iGaming

Bitcoin (73.3%)
Ethereum (9.9%)
Litecoin (6.6%)
Tether (4.6%)
Dogecoin (3.1%)

For the first two cryptocurrencies it's anticipated that they should occupy the first and second position from any other source that the report may be coming from, but what's weird in my opinion is seeing litecoin designated 3rd over tether seem kinda weird cause I thought a lot of gamblers would be using tether for betting than they do with any coin after BTC and Eth. Perhaps litecoin made it into that position over tether base on transactional usage due to its low fee over tether.

[Ziskinberg]

but what's weird in my opinion is seeing litecoin designated 3rd over tether seem kinda weird ...

The main reason is that the review is quite outdated since it was written in 2023.

title of the article.

Time to Invest in Crypto? SOFTSWISS 2023 iGaming Market Overview

Your observation is kind of valid since 2024 is the freshest in our minds, and as gamblers, we often speak from experience. Personally, I love gambling using Tether, so I think it deserves a spot in the top 3.

Anyway, I’m asking OP if there’s a 2024 survey available, we want the latest data.

[MusaMohamed]

Tether is kind of a no-brainer, but with Litecoin and Dogecoin I assume it's mostly because they've been around quite a bit longer than Solana and Tron. So older Casinos will offer them even if they haven't added new currencies for a while and newer Casinos will offer them because the older ones do. And in the end users will use whatever currencies are made available to them.

Except Tether, other coins in the list are mostly Proof of Work, and Ethereum was a Proof of Work altcoin before it changed to staking.

Proof of Work coins can not be created from thin air like Tether or Smart contract altcoins and PoW coins are more safer choices for users and companies. Less risk of rugpull than with Smart contract cryptocurrencies.

New altcoin blockchains like Solana and Tron need market tests, security tests, hack tests practically before their blockchains can become stronger and attractive for people to use and companies to deploy on their platforms.

Ethereum used to be in this comparative table when it was PoW.
https://howmanyconfs.com/

[ImThour]

I have recently started using Solana and I was previously using Litecoin or DOGE for low fees and faster deposits. I am not sure why Bitcoin is leading this maybe because most of the OG gamblers are still holding in Bitcoin than Ethereum or other altcoins and the volume is very huge as compared to the other coins but I would definitely pick Solana over Bitcoin for gambling deposits or withdrawals at this point.

[Plaguedeath]

I wonder what stats did they collect.

Are they collect the stats in terms of cryptocurrency used by each account or the total volume? if it the first one, I agree Bitcoin is the popular crypto in gambling because people are curious to use other coins to gamble, since Bitcoin is the biggest cryptocurrency, people might curious to use it.

But, if it's about total volume, I think Bitcoin isn't the number one because people tend to choose cheaper cryptocurrency. Even though Bitcoin fees is already cheap, but many casinos charge a lot additional fees.

Not to mention many gamblers said gambling with Bitcoin aren't their choice because if they spent $100 today, it might worth $500 in the next 4 years.

[DealersLounge]

Actually surprised that $SOL is not listed as top 5 also a bit surprised that people still gamble so much with$BTC. Must be better to use USDT.

[Orpichukwu]

Bitcoin is always at the top and will remain so. I notice the high use of LTC for crypto casinos during the time of when Bitcoin fees were at their ATH. For Tron, I don't know, but I have also noticed that many people even prefer to use Shiba over Tron these days in terms of deposits and withdrawals for the casinos that allow it. I'm not surprise with the coins on that list was not even expecting solana over their instead Shiba is another meme coin I know people often use for deposit too after dogecoin.

[xLays]

We just had a look at SoftSwiss gambling reports on crypto gambling and the most common cryptocurrencies used for online gambling with crypto.

We are a bit surprised about the list below. We are not surprised to see BTC in the lead; it's the king of gambling and the king of everything else as well, hehe. However we were pretty sure we would find Tron or at least Solana in the top 5. I mean, Litecoin has been a very popular currency for gambling in the past, but who bet with it nowadays?

What do you guys think about the list? I mean, SoftSwiss is a very trustworthy source, since they have data from a large number of casinos, but isn't it a bit weird?

Most Popular Cryptocurrencies in iGaming

Bitcoin (73.3%)
Ethereum (9.9%)
Litecoin (6.6%)
Tether (4.6%)
Dogecoin (3.1%)

Source
https://www.softswiss.com/news/state-of-crypto-2023-report/
https://wagerx.io/

For sure those who use Tether are on the TRON network, which is probably why TRON wasn’t included in the top 5. I was surprised too that TRON didn’t make the top 5 but not for Solana (im not fan of solana) overall I think TRON is still one of the most popular cryptocurrency for gamblers. We all know it has low transaction fee and most gamblers prefer it for that reason. Since most USDT transactions happen on TRON if im not mistaken so probably total activity is likely higher than what was shown in that ranking.

[Odusko]

If SoftSwiss is really trusted data source, then the data could be accurate because am not even surprise that Bitcoin is the most popularly used coin on the online casino, perhaps which only casino that doesn't add Bitcoin as part of their ctypto? I have not seen any casino that doesn't use Bitcoin and as we know, Bitcoin is a universal coin and casino too trust the solidity of the coin which is why they will mostly use it.

I don't think we need any revaluation before accepting the fact that Bitcoin remains the high used cryptocurrency in whatever platform, and we have to accept the fact that gambling most especially the cryptocurrency gambling industry has been one of the biggest supporters of Bitcoin and other cryptocurrencies, so yeah Bitcoin will always rank as highest used, if not some few times when transactions fees could be crazy on Bitcoin network I don't think anyone will consider using other coins to gamble aside Bitcoin, so the ratio of the other coins as just in the proportion of it alternative use when Bitcoin goes high in fees.

[PX-Z]

But USDT and USDC is something i used to see on the casino sites i'm using. But if this is a survey with an updated data source then yes, the statistics shouldn't be doubted, but the record just like you for i'm inclined with the use of Litecoin as the top 3.

[bittraffic]

Actually surprised that $SOL is not listed as top 5 also a bit surprised that people still gamble so much with$BTC. Must be better to use USDT.

I'd be surprise if it is among the list.  Doge somehow I think is created to be just like Bitcoin that can be use to bet on casinos. The old timers in crypto does have millions of it just being wagered in yobit dice for like 50,000 doge every dice roll. One of the oldest casinos in crypto I think have started adding dogecoin even before its price turned $0.001

BTC is not surprising. People think Bitcoin was only created for geek's casino.   

[Rruchi man]

Most Popular Cryptocurrencies in iGaming

Bitcoin (73.3%)
Ethereum (9.9%)
Litecoin (6.6%)
Tether (4.6%)
Dogecoin (3.1%)

I maybe do not agree with all the statistics and think that it will be different in different environments. Based on popularity based on my assumptions, I feel gamblers around me use BTC and USDT more for gambling on different casinos that do not have a native token. On casinos like Betfury, the BETFURY Token (BFG) is relatively popular for gambling.

[Yaunfitda]

Bitcoin still dominates here, which isn’t surprising as network fees are very cheap right now, and Bitcoin remains bullish, making it even more attractive for gambling. I was just a bit surprised TRON didn’t make the list, since I personally use USDT (TRC20) for gambling, and I thought a lot of people were using it too.

It's probably most of us are Bitcoin hodlers that's why we still prefer it over USDT or any other stable coins. And I'm under the impression that most gamblers still uses Bitcoin today as the fees are no longer a factor unlike last year when it goes very expensive and then we look for other options. I haven't used Solana or Doge, so not sure how quick it is. So the one that I used is Bitcoin and then USDT, obviously the latter as you might want to used it for slot and put the currency to a minimum like $0.1-$0.2. And I think this trend might continue as Bitcoin could still be the widely used crypto by most of us in the next couple of years.

[KovaBTC]

Bitcoin on top makes sense but I expected Tron or Solana. Litecoin is surprising but its low fees and fast transactions might still attract gamblers. Tether is useful for avoiding price changes.