iGaming industry veterans Kevan Edgerton and Ambika Zutshi join us to explore the hot topic of ‘crypto’ in the iGaming industry.
In this article, we explore the integration of cryptocurrency into iGaming platforms, highlighting the key challenges involved. Drawing on both Kevan and Ambika’s extensive industry expertise and insight, we also examine the most significant developments in the use of crypto within the iGaming sector in recent years.
Can you tell us about your background and experience in the iGaming industry?
Kevan Edgerton: I’ve been in the industry since 2009, and my first role was placed by BettingJobs CEO Jennifer Innes, who helped me secure a position as Marketing Manager for an Asian bookmaker entering the UK market. Since then, I’ve had the opportunity to work with several prominent brands across the industry, including Sporting Index, Betclic, Tempobet and Interwetten. Most recently, I was the CMO of Club Riches which is a new casino brand we launched in 2021.
Ambika Zutshi: With over 14 years of experience in the iGaming industry, I have held diverse roles spanning casino management, product development and CRM. My expertise includes managing commercial partnerships, exclusive content and P&L ownership, as well as developing product roadmaps, conducting supplier negotiations and ensuring compliance in both regulated and unregulated markets.
In recent years, I have worked extensively with crypto casinos, specialising in product, commercials and CRM. As Head of Casino at Cloudbet, I oversaw commercial partnerships, exclusive content and P&L management. Previous roles at Entain, Tabcorp and Betclic further honed my skills in casino operations, product strategy and navigating complex regulatory landscapes.
What would you say has been the most significant development in the use of cryptocurrency within the iGaming sector in recent years?
Kevan Edgerton: I think crypto brings a new dimension to the gaming industry. There are the obvious benefits, like the transparency and fairness provided by blockchain technology. But beyond that, it represents a major shift for the industry.
For years, players have voiced concerns on forums, claiming that “your games are cheating me.” With provably fair games, however, that isn’t possible and helps to dispel the myth. This shift not only changes the way we think about fairness in gaming, but also how people perceive gambling in general.
From an operator’s perspective, it also significantly streamlines payments with increased speed and deceased friction.
Casinos with a focus on crypto offer a very different product compared to traditional casinos. Typically, traditional casinos would accept cryptocurrencies like ETH or Bitcoin and then convert them into a user’s fiat account balance. However, the new wave of crypto-focused brands such as Stake, Cloudbet, BCGame, and Duelbits allow users to bet with cryptocurrencies directly, while offering a contemporary, more gamified experience.
Ambika Zutshi: The benefits of privacy and accessibility to new markets are arguably some of the most powerful advantages that cryptocurrencies bring to the online casino space. These breakthroughs in their own right are shaping the future of the industry and creating exciting new opportunities for both players and operators.
Looking ahead, there is untapped potential in utilising smart contracts. These self-executing contracts with the terms of the agreement directly written into code can be integrated into casino platforms to automate game processes, payouts and even player rewards. The use of smart contracts ensures that everything happens without any human intervention, reducing the potential for errors, fraud, or manipulation.
What is the comparison between Fiat and Crypto in iGaming?
Kevan Edgerton: If we’re comparing traditional currencies to cryptocurrencies, I don’t think there’s much difference in many respects. Both serve primarily as vehicles to fund an account. However, when you consider the mindset of people who use traditional fiat methods – like card payments or bank transfers, I think there’s a sense of security, especially for older demographics, that comes with sending money via familiar, established institutions.
In contrast, younger users are generally more open to alternative payment methods like crypto, especially in iGaming. They’re more likely to understand terms like “blockchain,” “Web3,” or other crypto-related concepts. For them, it’s not as daunting because they’ve grown up with these technologies and witnessed the rise of Bitcoin as they reached financial maturity. They’ve had more exposure to digital currencies, which makes them more comfortable with the idea of using crypto for online transactions. However, at the end of the day, whether I’m using a Visa card, an e-wallet, or crypto, my main concern is ensuring that my money is deposited smoothly when I’m playing and withdrawn just as easily when I’m done. The challenge is appealing to customers looking to gamble by offering payment methods they find convenient and trustworthy as part of a value proposition. If crypto is a brand’s primary option, the question is whether customers are comfortable with it and if they see value in using it.
Ambika Zutshi: Fiat offers familiarity, stability and consumer protections but lacks privacy, has slower transactions and may involve high fees or geographical restrictions. Crypto provides privacy, faster transactions, lower fees and global accessibility but suffers from volatility, limited regulation and a learning curve for new users. Players seeking simplicity may prefer fiat while those valuing speed, anonymity and innovation might lean towards crypto.
What are some of the key challenges associated with integrating cryptocurrency into iGaming platforms?
Kevan Edgerton: For someone who’s not familiar with crypto, the things they are bound to say are fundamental things like, “How does it work? Can I trust it? What’s a wallet? Where do I get one? This all seems a bit weird, so maybe I’ll pass.” If users are hit with esoteric concepts without a true understanding, it creates a reason for them to not engage despite them looking for a brand to gamble with. So, a big part of the job for brands is educating users rather than just adding a crypto payment option and saying “BET NOW!” in marketing messages.
Another major challenge that comes to mind is regulation, especially since it’s constantly evolving in the crypto space. Just look at what’s happened in the UK—regulations there have changed significantly. In general, the regulatory landscape is highly fragmented, with different rules across jurisdictions. It is ever-changing and fluid, making it difficult to navigate specific regulatory requirements like Anti-Money Laundering (AML) and Know Your Customer (KYC) obligations. These rules can vary significantly between markets, and there’s no universal approach. Until we see more stable, consistent regulation, crypto is going to remain a “hot potato”, however, if we operate responsibly then we should be fine.
The volatile nature of cryptocurrencies is a consideration also. If users are depositing in stablecoins then it is straightforward. But if they deposit volatile cryptocurrencies, then there is the matter of value fluctuation. From an operator’s perspective, this makes financial management more complex. This volatility is something operators need to be mindful of, or they may face unexpected challenges.
Ambika Zutshi: Integrating cryptocurrency into iGaming platforms presents several challenges. Regulatory uncertainty driven by the lack of consistent global regulations creates obstacles to widespread adoption. The volatility of cryptocurrencies further complicates matters as fluctuating values can impact platform revenues and player engagement, making financial stability more difficult to achieve.
Additionally, many players remain unfamiliar with cryptocurrencies and building trust requires effective education to help them use digital currencies safely and confidently. Technical complexity also poses a barrier as developing secure and user-friendly blockchain systems demands specialised expertise and significant resources.
Finally, compliance with anti-money laundering (AML) regulations presents a unique challenge as it requires balancing regulatory adherence with the privacy benefits associated with cryptocurrencies.
How do you envision the future of iGaming with the continued adoption of cryptocurrency?
Kevan Edgerton: I believe that, over the long term, cryptocurrency will have a transformative impact on the industry. The pace of this change may be somewhat tethered by regulation, as decentralised payments are tempered by varying rules and conditions depending on which markets a brand operates in. That said, I think crypto will eventually become a more standardised option. When cryptocurrency first appeared on the scene in the gambling world, it was just a small option at the bottom of the payment page. Below traditional methods like Visa, Mastercard, bank transfer, and PayPal, there was a little Bitcoin logo towards the end of the cashier. But fast forward to today, and it’s quickly moving to the forefront for many brands.
Looking ahead, more casino game providers will offer wagering in crypto, and with blockchain, loyalty schemes will evolve and customers will have more control.
Ambika Zutshi: As cryptocurrency adoption continues to grow, the iGaming sector is set to undergo significant transformation. Clearer regulations around crypto gaming are likely to encourage more mainstream operators to enter the space, driving wider adoption across the industry. Many platforms may adopt hybrid models, combining fiat and crypto payment options to cater to a broader range of player preferences.
Blockchain-based tokenisation also has the potential to revolutionise loyalty programmes and in-game rewards, creating more personalised and engaging player experiences. Additionally, by reducing reliance on traditional banking systems, cryptocurrencies could offer iGaming platforms greater operational stability, particularly during periods of economic volatility.
We would like to express our thanks to Kevan Edgerton and Ambika Zutshi for joining us in today’s edition of BettingJobs News as they share their valuable insights on the trending topic of cryptocurrency in the iGaming industry. We look forward to seeing how this dynamic and ever-evolving subject continues to develop throughout 2025.