Crypto Online Betting

Revolutionising Online Betting: The Future of Crypto in Betting Platforms

Paul M |
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Crypto has been a buzzword in the world of online betting for some time now, but the growth of this new form of wagering has been truly explosive over the past few years. According to recent data, crypto betting is growing at a rate of 36.6% per annum, which is significantly higher than the growth rate of traditional online betting.

One of the reasons for this growth is that online crypto operators provide a similar user experience to online fiat operators. This means that users can place bets using their preferred currency, whether crypto or fiat and enjoy the same level of convenience and ease of use.

Challenges with Existing Betting Platforms

However, despite the growth of crypto betting, many existing platforms have been built without all core internal needs across marketing, trading, operations, customer service, and compliance. This has led to poor experiences for highly profitable players and deeper losses for negative value customers. Some platforms are also unable to keep up with customer demands or provide segmented customer experience.

Next-Generation Platforms: Combining Crypto and Fiat Payment Capabilities

This is where the next generation of wagering platforms comes in. These platforms combine racing, sports, and gaming with both crypto and fiat payment capabilities. They leverage new technology and embed modern third-party integrations, integrating crypto at the technology layer rather than as an afterthought.

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Notable Platforms that have Integrated Crypto

The most notable gaming companies that have integrated crypto into their platforms are Kambi, SBTech, and Entain. Kambi is valued at $520 million US dollars and is serving most of the regulated markets worldwide.

Its most popular brands are 888 Holdings, Draft Kings, and LeoVegas. SBTech merged with Draft Kings in 2020 and is operating in more than 20 regulated markets. When it comes to Entain, it’s mostly active in the UK, Australia, and Europe and is projected to be worth more than 14 million US dollars. Ladbrokes, Coral, bwin, and Danske Spil are the brands you may have heard of that are operating under the same parent company, Entertain.

Using White Label Platform Solutions

White-label platform solutions for crypto betting operators are leveraged to the growth of crypto wagering as a whole. This means they are not exposed to the operational and regulatory risk of a single crypto wagering business. By building these platforms from scratch, developers can ensure that all core internal needs are met and that the platform is designed to provide a seamless user experience for both crypto and fiat users.

Providing Customised Experiences for Players and Avoiding Technical Debt

One key advantage of these new platforms is that they can offer more customised experiences for players. This means that highly profitable players can enjoy a better user experience while negative value customers can be filtered out.

These platforms can also provide more segmented experiences, which means that players can enjoy tailored promotions and betting options based on their individual preferences.

Another advantage of these platforms is that they can be built with more modern technology, which means that they are less likely to suffer from technical debt. This is a key challenge for platforms, as well as technology companies, more broadly, as legacy technology can quickly become outdated and difficult to maintain.

Conclusion

The growth of crypto betting has created significant opportunities for the development of new wagering platforms. By leveraging new technology and embedding modern third-party integrations, developers can create platforms that offer a more seamless user experience for both crypto and fiat users.

Some companies that are developing new cutting-edge platforms are Kambi, SBTech, and Entain. With continued growth in the global crypto betting market, we can expect to see more investment in the development of these next-generation platforms.

paulmjr
paulmjr

Paul MSlots Master

Paul has always been a huge fan of casinos and slot games. With over 20 years of experience in the online casino and gaming sector, his opinions and insight can be extremely valuable.

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