Bitcoin Casino Statistics: 7 Latest Trends

Bitcoin casinos have emerged as the latest trend in the online gambling industry, significantly shaping its future since the early 2010s, along with the widespread adoption of Bitcoin itself.

The blockchain technology is at the heart of Bitcoin casinos’ appeal. With this feature, users enjoy better security and anonymity than traditional casinos. This surge allowed the online gambling industry to experience rapid, continuous growth. Recent data suggests the online casino market will reach $36.6 billion by 2024. 

As the world turns into this new way of gambling, understanding the crucial Bitcoin casino statistics will help. In this article, we delve into the latest data on these casinos, with a specific focus on:

• The market size of Bitcoin casinos
• The increasing number of users embracing Bitcoin for online gambling

Editor’s Choice

• According to estimates, the online casino market will reach $36.6 billion by 2024.
• By 2024, global revenues from online gambling are expected to reach $100.9 billion.
• There are 5,098 global casinos and online gambling businesses in 2024, 5.2% higher than in 2023.
• The US generates the most online gambling revenue, $23.03 million, up 21% from last year.
• North America dominates the global landscape of Bitcoin casinos, accounting for 35.7% of total visitors in 2023.

How Big is the Bitcoin Casino Industry?

While precise figures for Bitcoin casinos remain elusive, insights from the more prominent online gambling industry provide helpful context for gauging the industry.

Projections indicate a robust rise for the online gambling market, with anticipated global revenues reaching $100.9 billion by 2024. Moreover, steady growth is anticipated, with estimates suggesting an annual increase of 6.20%, culminating in a projected market volume of $136.30 billion by 2029.

Here’s the graph showing the revenue growth of online gambling over the years:

The surge in internet accessibility, coupled with the widespread adoption of mobile devices for gaming, has fueled the expansion of online gambling. The ease and security of online payment methods have also aided the gaming community’s transaction flow.

Moreover, it is estimated that the number of online gambling users will increase to 281.3 million in 2029. The user penetration will be 2.5% in 2024 and is expected to hit 3.0% by 2028.
The following sections explore the Bitcoin/online casino gambling market and how many Bitcoin casinos exist.

Did You Know?

SatoshiDice was the first Bitcoin gambling site, launched in 2012. It was later sold for more than 126,315 BTC in 2013. The Bitcoins were worth $11 million during that sale, but now they are worth $3 billion.

Online Casino Market Size

The online casino market is a dynamic and rapidly growing segment of the global gambling industry. It is characterized by the virtualization of traditional casino games such as: 

• Slots
• Poker
• Roulette
• Blackjack

The Bitcoin casino market enables players to play games from anywhere with an internet connection. As of 2024, there are 5,098 global casinos and online gambling businesses, representing a 5.2% increase from 2023. 

Here’s a graph showing the increasing number of global casinos and online gambling businesses from 2018 to 2024:

The following sections determine the most extensive online casino market, average user statistics, and the future forecast for the Bitcoin casino market. 

Did You Know?  Charles Fey created the first mechanical slot machine in 1895. It was intended to provide bar patrons with a simple diversion rather than a chance to win money. It was called the Liberty Bell, and it rewarded winners with drinks or cigars instead of cash.

What is the Biggest Bitcoin Casino Market? The US Tops the Market

(Statista) 

The online gambling market in the US is booming, with revenue projected to hit a staggering $23.03 billion by 2024. This growth remains steady, with an expected annual growth rate of 8.86%. By 2029, experts anticipate the market volume to soar to $35.21 billion.

Below is an overview of revenue growth for online gambling in the US:

Zooming out to a global perspective, here’s a closer look at the revenue breakdown of the top five countries:

However, the pace of growth differs across various regions. For instance, while the US is experiencing rapid expansion, other major markets like the UK and Australia are seeing slower growth rates. 

In the UK, online gambling revenue is forecast to increase 7% year-on-year, nearing $14 billion by 2024. Meanwhile, Australia is expected to witness 11% year-on-year growth, with revenue surpassing $10 billion.

Europe has emerged as a dominant player in the global online gambling market. Its projected revenue will reach a whopping $46.74 billion by 2024, growing at a rate of 4.4%. This sizable portion can be attributed to the widespread legalization of gambling in European countries such as France, Germany, Spain, Malta, and Italy.

Several factors play a crucial role, including:

• Widespread availability of high-speed broadband internet
• The burgeoning popularity of online casinos
• Increasing use of smartphones for gaming

Europe retakes the lead in the business landscape, boasting 3,211 businesses with global casino and online gambling services. Let’s explore which regions follow closely behind in business presence in this thriving industry.

Region	Number of Global Casino and Online Gambling Businesses
Europe	3,211
North America	2,884
Africa and the Middle East	373

Average Revenue of Online Gambling Users: US$470 Per Player

(Statista) 

The average revenue per user (ARPU) will reach US$470 globally. ARPU is expected to rise slightly to $480 by 2026 and to remain at that level until 2029.

Notably, in the US, the ARPU for 2024 is projected at $350.80, significantly lower than Europe’s $730 per user. This disparity suggests a substantial difference in consumer spending habits or market dynamics between the two regions.

Here’s the average user revenue per user from 2017 to 2029 worldwide:

What is the User Penetration Rate for Online Casino? Estimated 2.80%

(Statista)

Globally, the user penetration rate for online casinos will be 2.8% in 2024 and is expected to hit 3.5% by 2029. The total number of online casino users is expected to reach 98.6 million in the same year. By 2029, the number of users is predicted to reach 129.5 million.

Note: The user penetration rate for online gambling globally (including online casinos, sports betting, and online lotteries) is expected to be 6% by 2024. Moreover, the total number of online gamblers is expected to reach 214.5 million by 2024.

Here’s the graph showing the user penetration for online casinos from 2017 to 2019: 

In 2024, the user penetration rate in the US stands at 9.4%, poised to climb to 15% by 2029. This figure significantly outpaces global averages. Meanwhile, the United Kingdom’s estimated user rate is 6.7%, with projections indicating a modest increase to 7.5% by 2029.

Here are the top five countries with the highest user penetration percentage: 

Country	User Penetration Percentage
Canada	35.6%
United Kindom	42.4%
Australia	24.1%
Finland	20.6%
US	19.2%

The figures above highlight the varying degrees of adoption and popularity of online casino platforms across different countries. Canada and the United Kingdom lead by a significant margin.

Regional Distribution Market of Bitcoin Casino: North America Takes the Lead

(Coincub)

North America dominates the global landscape of Bitcoin casinos, with a significant 35.7% of all visitors in 2023. South America follows closely with 30%. 

However, Europe’s 12% traffic, far behind Asia’s 16.6%, is surprising given its advanced regulatory framework and higher cryptocurrency adoption rates. Africa and Oceania are at the bottom, with 5.25% and 0.67% users, respectively.

Bitcoin Casino Forecast: Set for Expansion

(IBISWorld)

Forecasting the trajectory of the Bitcoin casino industry prompts a closer examination of its potential growth and evolution. Over the past five years, the global casino and online gambling sectors have exhibited a robust 5.2% annual expansion rate, indicating a buoyant market. 

How Many Online Casinos Use Bitcoin? 

(Bitcoin Chaser, SOFTSWISS)

One of the top reasons casino players use Bitcoin as payment is its ability to cut down on transaction costs. With this convenience, more and more casinos are accepting crypto payments. In one crypto-tagged review, 191 casinos are accepting Bitcoin payments. 

Here’s the breakdown of casinos that accept cryptocurrencies as a payment option:

Number of Casinos Accepting Crypto Payments
Bitcoin Casinos	191
Ethereum Casinos	130
Litecoin Casinos	128
Bitcoin Cash Casinos	90
Dogecoin	81

In an exciting twist, data from SOFTSWISS in August 2023 highlighted an incredible 83.6% increase in crypto bets compared to the latter half of 2022. In those six months, 29.5% of the total wagered amount was cryptocurrency betting, indicating a strong, growing interest. 

Players embrace crypto betting despite cryptocurrency volatility, as their consistent engagement shows. The following sections demonstrate how many Bitcoin transactions are in online casinos and the use of other cryptocurrencies.

Fun Fact

The wide adoption of cryptocurrency led to a staggering increase in crypto gamblers. Statistics show that this industry grew by 4% in 2023. According to estimates, the crypto gambling industry can be worth $136.3 billion by 2029.

How Many Bitcoin Transactions Are There for Online Casinos? 60% of Bitcoin Transactions Involve Gambling

(Next, Cryptodaily, Casino Mentor) 

Bitcoin has higher transaction activity than other cryptocurrencies, and it is estimated that approximately 60% of all Bitcoin transactions are related to gambling. Bitcoin gambling has become exceedingly popular, to the point that since 2014, players have wagered over $4.5 billion in Bitcoin to date. 

An analysis of the first to third quarter of 2023 showed that 74.90% of all crypto bets made were with Bitcoin.

Which other cryptocurrencies are used in online casinos? Ethereum, Litecoin, Tether, and Dogecoin

(SOFTSWISS)

According to the SOFTSWISS Online Casino Platform, the top 5 most used digital coins remained unchanged from 2022 to 2023. Here’s the cryptocurrency distribution structure as of the first half of 2023:

Bitcoin has shown the most growth, increasing by 7.9% compared to the first half of 2022. Meanwhile, Ethereum and Litecoin have decreased by 5.5% and 2.5% respectively.

Bitcoin represented 83% of all crypto bets in Q1 of 2021, but this figure dropped to 72% in Q1 of 2022. During the last quarter of 2023, Bitcoin experienced a slight 5.7% decline compared to the third quarter. Conversely, Ethereum and Litecoin saw increases of 4.7% and 2.2%, respectively, during the same period.

Conclusion

The rise of online gambling, especially in Bitcoin casinos, is undeniable and seems set for continuous expansion. With more businesses accepting Bitcoin and other cryptocurrencies, the online casino scene is evolving rapidly.

The many advantages offered by cryptocurrency gambling platforms often surpass those of traditional ones, driving the growth of Bitcoin casinos. As the market expands, stakeholders must embrace change and push for a regulatory framework promoting responsible and safe gambling.

List of Sources:

• Statista
• IBISWorld
• Statista
• Statista
• Coincub
• IBISWorld
• BitcoinChaser
• SOFTSWISS
• NextIO
• CryptoDaily
• CasinoMentor
• SOFTSWISS