The surge of stablecoin use at crypto casinos (58%)

When digital currencies were introduced in the early 2010s, thinking that they would gain mainstream adoption would perhaps seem illogical. However, years later, they seem to be making waves in every sector, and the casino has not been left out. And it’s no longer just about Bitcoin anymore. More grounded coins like stablecoins are setting in.

You may actually be surprised to learn that, according to Inside Bitcoins, stablecoins account for about 58% of all deposits in Curacao alone. This is a perfect example of how online casinos are not just using free spins no deposit bonus offers to attract players, but also other innovative technologies like stablecoins.

That should not be shocking because modern players crave speed and security. However, as much as cryptocurrencies like Bitcoin offer these benefits, they are highly volatile, which limits their adoption. This is why there has been a growing need to adopt technologies that can still cater to the prevalent desire for fast transactions while preserving value. And to learn more about how this trend is playing out in the casino industry, stay around.

The prevailing need for fast and cheap transactions

Do you know that, just recently, a study found that seven in ten customers want their payments to be processed in not more than two seconds? This research by Testlio demonstrates that slow transactions can be frustrating and even cause business to lose their competitiveness.

In another study, Projective Group noted that nearly eight in ten businesses intend to implement real-time payments within the next three years. Companies ignoring such trends are only setting themselves up for failure. After all, how do you expect to stand out from competitors if you don’t align with modern preferences?

If instant payments were not a thing in today’s world, 70% of people would not expect payment processes to take less than two seconds. Thankfully, many casinos have realized the importance of catering to this need and are adjusting by adopting faster technologies like stablecoins.

Most stablecoins are built on blockchain, which eliminates the need for intermediaries, who often lengthen the transaction process. This ensures your transactions can be completed in no time. Besides speed, these transactions are also cheaper than traditional methods. Take stablecoins built on Solana, for instance. This blockchain, interestingly, processes over 65,000 transactions per second at just $0.0001 fees. What better way to ensure real-time wagering than using this technology?

Players want stability without sacrificing speed

Imagine a casual player in Toronto logging in every weekend to place some bets on UFC fights. While Bitcoin or even Ether can be good options, these tokens are quite volatile. One evening, Bitcoin is trading $100,000; the next morning, it’s at $76,000. If the player has $100 enough for ten bets, but it declines to $76, the experience can be frustrating. What was to become a form of entertainment then becomes an unnecessary source of stress.

According to Kaspersky, almost half (48%) of crypto owners are afraid of losing money to its volatility. Of course, you don’t expect this fear to be any different in the gambling sector. Thanks to stablecoins, you no longer have to worry about crypto’s mood swings. These coins maintain value by being pegged to a stable asset like the US dollar or other commodities like gold. The pegging is achieved through mechanisms like holding reserves of the underlying asset or employing algorithms to manage the coins’ supply.

As such, if the Torontonian player uses USDC, he can be sure of a steady value without worrying about transaction delays. He also doesn’t have to worry about waking up the next morning to find half of his bankroll evaporated. Even on the backend, casino operators like VulkanSpiele Casino can benefit from this stability. They can offer consistent bonuses and fairer player rewards because the currency doesn’t keep bouncing every hour.

Regulation is shaping the stablecoin future

In America alone, about 63% of citizens lack confidence in the reliability and safety of cryptocurrency. You can imagine how risky interacting in the crypto gambling sector, which still exists in a legal gray area, can be. But when it comes to stablecoins, the story is different because several governments have started implementing clear regulations.

The UAE, for instance, is positioning itself as a leader in digital asset innovation after it recently implemented these coins as part of its broader Digital Dirham strategy. This includes regulatory frameworks for issuing and licensing stablecoins, particularly those pegged to the UAE Dirham (AED). In the US, acts like the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act have opened new conversations about how these coins might fit into payment systems.

Although compliance with such regulations might mean more friction for casinos, the legitimacy that comes with it could open doors to new markets. For high-volume players who care about both speed and legitimacy, that peace of mind goes a long way, further explaining why stablecoin adoption in the casino industry could continue increasing.

With stablecoin transactions in Curacao alone accounting for 58% all deposits, it’s no secret that online gambling has entered a new era. As a player, you can now enjoy quick payment processes without worrying about crypto’s price swings. Given this industry’s competitiveness, operators who don’t provide such experiences always have it rough standing out from the rest. This is why many of them have been turning to technologies like stablecoins to maintain their relevance.