The study, conducted by crypto bookmakers CryptoBetting.org used Google Trends data to analyse and compare the top 100 cryptocurrencies, to determine which crypto is most popular in each State.

According to the results, the top five cryptocurrencies in the state of Alaska are: 

1. Bitcoin
2. Binance Coin
3. Ethereum
4. Pepe
5. Shiba Inu

Bitcoin

Bitcoin is the most popular cryptocurrency across America. Bitcoin was the first decentralized digital currency and in recent years has gained immense popularity across the globe.

Bitcoin has captured the imagination of individuals, investors, and institutions alike, as they recognize its potential to revolutionize traditional financial systems and reshape the future of money and is the most widely accepted and recognised.

Binance Coin

Binance Coin (BNB) is a cryptocurrency that has gained significant popularity due to its association with the Binance cryptocurrency exchange. BNB’s popularity stems from several factors, including its role as the native token of the Binance exchange, which allows users to benefit from reduced trading fees and access various services.

Additionally, BNB has been successful in maintaining a high degree of liquidity and market capitalization, further attracting investors and traders. Binance’s commitment to innovation and its ability to adapt to evolving market trends have also contributed to BNB’s popularity, as the coin has been integrated into various decentralized finance (DeFi) applications and blockchain projects.

Ethereum

Ethereum is a decentralized blockchain platform renowned for its smart contract functionality, which allows developers to create and deploy decentralized applications (DApps). Its popularity stems from several factors.

First, Ethereum introduced the concept of programmable blockchain, enabling developers to build innovative applications and digital assets on its platform. This flexibility and versatility have attracted a vast community of developers, entrepreneurs, and investors, fostering a vibrant ecosystem of projects and services.

Additionally, Ethereum’s native cryptocurrency, Ether (ETH), is one of the largest and most widely recognized cryptocurrencies not just in America but globally.

Pepe

Pepe Coin is a popular cryptocurrency that has gained much notoriety in recent times. Its rise to prominence can be attributed to several factors. It has captured the attention of internet communities due to its association with the iconic Pepe the Frog meme, which has a substantial following.

The meme culture and online communities have rallied around Pepe Coin, creating a strong and passionate user base. Moreover, Pepe Coin’s decentralized nature and low transaction fees have made it an attractive choice for individuals interested in digital currencies.

Overall, the unique combination of blockchain technology, meme culture, and a dedicated community has propelled Pepe Coin to its current popularity.

Shiba Inu

Shiba Inu Coin has had massive growth in the cryptocurrency world due to its unique branding and enthusiastic community. It is a decentralized, community-driven cryptocurrency inspired by the Shiba Inu dog breed, which gained fame through its resemblance to the “Doge” meme. Shiba Inu Coin stands out for its low price and large circulating supply, making it an accessible investment option for many.

Moreover, its community has actively engaged in various social media platforms, fostering a sense of unity and excitement around the coin. The popularity of Shiba Inu Coin also stems from its potential for significant price volatility, attracting traders and speculators looking for quick gains.

A spokesperson from CryptoBetting.org commented: “In an increasingly digitized world, crypto has emerged as a testament to the human desire for financial freedom and technological innovation. Its growing popularity lies in its ability to transcend borders, decentralize power, and empower individuals to take control of their finances.

As trust in traditional systems wavers, crypto offers a new paradigm, where transparency, security, and opportunity converge. The rise of crypto in America represents a collective realization that the future of finance and other sectors, such as art, music and gaming, are all being shaped, and driven forward, by blockchain technology.”

Other Popular Cryptocurrencies in Alaska

Other than the top 5 listed here, many other crypto coins proved popular with Alaskan residents.

Dogecoin

Dogecoin has gained unprecedented popularity in recent years, captivating both crypto enthusiasts and the general public alike. What started as a light-hearted meme cryptocurrency based on the popular “Doge” internet meme featuring a Shiba Inu dog, has transformed into a cultural phenomenon.

Dogecoin’s charm lies in its simplicity and accessibility, attracting a diverse community of supporters who appreciate its fun and friendly nature. The coin’s distinctive logo and vibrant online community have propelled its rise, with influential figures and celebrities often endorsing it on social media platforms.

Dogecoin’s popularity has also been fuelled by its charitable initiatives, as the community frequently rallies together to raise funds for various causes.

Despite its initially satirical origins, Dogecoin has managed to capture the imagination of millions and become a symbol of the growing acceptance and mainstream recognition of cryptocurrencies.

Solana

Solana is a blockchain platform that has been experiencing huge growth in recent years. Known for its high scalability, speed, and low transaction costs, Solana has emerged as a top contender in the world of decentralized finance (DeFi) and decentralized applications (dApps).

Its unique architecture, featuring a proof-of-history consensus mechanism, allows for incredibly fast transaction processing and confirms transactions in a matter of seconds. This efficiency has attracted numerous developers and investors, leading to the rapid growth of the Solana ecosystem.

With its robust infrastructure and increasing adoption, Solana has positioned itself as a promising blockchain platform, contributing to its growing popularity in the crypto community and beyond.

Ripple (XRP)

XRP, also known as Ripple, has gained significant popularity in the world of cryptocurrencies. Developed by Ripple Labs, XRP stands out among other digital currencies due to its unique features and widespread adoption. Its popularity can be attributed to several factors.

Firstly, XRP offers fast and low-cost international transactions, making it an attractive choice for cross-border payments. Its blockchain technology enables near-instant settlement, eliminating the need for traditional intermediaries and reducing transaction fees.

Secondly, XRP has secured partnerships with numerous financial institutions and banks worldwide, which has enhanced its credibility and increased its user base. These partnerships have facilitated the integration of XRP into existing financial systems, making it a viable option for mainstream adoption.

TRON

TRON (TRX) is a blockchain-based cryptocurrency that has gained significant popularity in recent years. Launched in 2017 by Justin Sun, TRON aims to revolutionize the entertainment industry by providing a decentralized platform for content creators to share and monetize their work.

TRON’s popularity stems from its ability to offer faster transaction speeds and lower fees compared to other major cryptocurrencies. Additionally, TRON’s robust infrastructure and smart contract capabilities have attracted a vibrant community of developers and investors.

The platform’s emphasis on decentralized applications (DApps) and its partnerships with prominent companies in the entertainment sector has further bolstered its popularity.

As a result, TRON has emerged as a prominent player in the crypto market, with a strong following and a growing user base. Its potential to disrupt the entertainment industry and its commitment to fostering innovation continues to fuel its popularity among crypto enthusiasts and investors alike.

Cardano

Known for its innovative technology and scientific approach, Cardano has captivated the attention of investors and enthusiasts alike.

What sets Cardano apart is its commitment to peer-reviewed research and rigorous academic principles, ensuring that every aspect of the platform is well-thought-out and thoroughly tested. The project’s native cryptocurrency, ADA, has experienced significant growth in value, attracting a large user base and cementing Cardano’s position among the top cryptocurrencies.

Its focus on scalability, security, and sustainability has also contributed to its rising popularity, as it aims to provide a robust and efficient platform for decentralized applications.

The report, titled “North America Online Gambling Market – Growth, Trends, COVID-19 Impact, and Forecasts (2023 – 2028),” noted that the online gambling sector continues to experience significant growth, with no signs of slowing down.

New Jersey stands out as the largest market for regulated online gambling in the U.S., with a range of online casinos, crypto-friendly sportsbooks and betting apps operating under the oversight of the Division of Gaming Enforcement.

AI Leads the Way in Online Gambling Developments

New technologies like artificial intelligence (AI), chatbots, and machine learning are also reportedly transforming the gambling industry. AI is used by both online and offline casinos to analyze customer behavior and provide better, more personalized service.

AI and chatbots can also quickly complete tasks, answer questions and provide information on various topics, resulting in improved consumer satisfaction, brand loyalty and customer retention.

The online gambling market in North America is also growing due to improvements in infrastructure, such as electricity, phone lines and internet connections, as well as an increase in the use of smartphones and tablets.

Canada also shows potential for the online betting growth sector going forward, with nine out of ten bets in the country placed via mobile apps. However, the country is still largely unregulated in terms of online betting.

Canada and Mexico Join the U.S. in Tougher Regulations for Online Gambling

In Canada, the Canadian Gaming Commission oversees the industry as a whole, including online gambling. Laws relating to casinos, sports betting and other gambling-related activities are enforced and enacted by individual provinces.

In Mexico, the Federal Gaming and Raffles Law was expanded in 2004 to cover online gambling, establishing regulations and licensing requirements for online operators. Online sports betting was legalized in 2004, allowing Mexican citizens to bet on sports events through licensed operators.

The Mexican government would make further refinements to the regulatory framework over the years, and in 2014, the country’s reforms to the telecommunications law required internet service providers to block unauthorized online gambling sites. At present, it is still reviewing its gambling laws to regulate the online gambling sector to align with the rest of its gambling industry.

Meanwhile, online betting in the U.S. is subject to a legislative framework that permits licensed bookmakers to operate legally only in Nevada, Pennsylvania and New Jersey as the first three states in the country to have established regulations for online betting.

Recent notable acquisitions

The North American online gambling market is currently served by various regional and global players like 888 Holdings PLC, MGM Resorts International (Borgata Hotel Casino & Spa), Caesars Entertainment Corporation, DraftKings (Golden Nugget) and Flutter Entertainment PLC.

According to the report, these major players are utilizing mergers and acquisitions to expand their presence and offer a diverse range of options to consumers. Merger and acquisition is the preferred strategy in the casino gambling market of the North American region.

These key players are forming partnerships and agreements to improve their offerings. They are also focusing on launching their services in new potential markets.

The SoftSwiss report for the third quarter of 2022 showed a continued downturn. Doom mongers may view this as a sign that digital currency’s impact on gambling is in decline. Certainly, the rather bleak results of SoftSwiss’ Q2 report won’t ease such fears.

However, the company’s COO, Vitali Matsukevich, is adamant that the overall picture is much brighter than it appears at first glance. Certainly, crypto winter 2022 has hurt the industry, but the downturn is likely temporary rather than permanent.

This article delves into the findings of the SoftSwiss report, analyzing whether the results are a genuine cause for concern. It also investigates the potential future of crypto gaming.

Concerning Crypto Betting Trends

Even if the future of crypto is rosy, we shouldn’t overlook the challenges faced by the digital currency gambling markets. While we await the next crypto boom, there are undoubtedly worrying trends to acknowledge.

First, according to SoftSwiss, there was a 44% drop in the sum of Bitcoin gambled in Q3 2022 compared to Q3 2021. Furthermore, the total sum of crypto bets fell to €6.34 billion in the third quarter of 2022, compared to €8.29 billion in the same period in 2021. This number represents a year-on-year drop of over 23%.

Also, the total sum of bets in Q3 in 2022 was down almost 6% compared to Q2.

Regarding crypto versus fiat betting, there was a significant increase in fiat market share growth. In Q3 2022, fiat accounted for almost 71% of total bets. In the same period in 2021, this figure was just 56%. Indeed, it is fiat’s largest share of the market since the second quarter of 2021.

Why Is There a Drop in Crypto Betting?

Those hoping to see the next crypto bull run in 2022 were disappointed. Instead, the much-discussed “crypto winter” dominated the market for practically the entire year. Bitcoin tumbled from its record high of over $68,000 in November 2021 to below $17,000 about 12 months later.

These numbers show a steep drop, and investors understandably decided that caution is the right play at present. Individuals who gamble with cryptocurrency are concerned by the fall in value across the board. Therefore, some gamers may have withdrawn their balance due to fears of it falling further.

Also, the reduced price of crypto means that the value of bets is also down. For instance, a 0.1 BTC wager in November 2021 was worth $6,800. Fast forward a year, and the same bet was worth $1,700.

What’s the Good News?

While the value of bets fell in Q3 2022, the volume of wagers increased markedly. Indeed, there was a 33% increase in total bets compared to the third quarter of 2021. The GGR figure, calculated by subtracting total wins from total bets, was up an impressive 36% over the same period. According to the SoftSwiss data, it is a steady rise, which suggests a sustained upward trend, regardless of the state of the global economy.

Although the third quarter of 2022 spelled bad news compared to Q3 2021, the quarter-on-quarter decreases are quite small when considering the market’s issues. A drop of around 6% in the sum of money bet in Q3 compared to Q2 is a positive. After all, the value of the cryptocurrency market as a whole dropped by more than that amount in the same period.

Consequently, if the crypto winter of 2022 can’t cause digital currency gaming to grind to a halt, it isn’t hard to imagine how fast the market will grow if there’s another bull run!

Other Positives We Gleaned From the Report

There is good news about crypto diversification in betting. BTC’s dominance is receding. In Q3 2021, Bitcoin was the crypto of choice for over 86% of wagers. During the same period in 2022, its market share was below 73%.

In the third quarter of 2021, only 3.5% of bets did not involve Bitcoin, Ethereum, or Litecoin. In Q3 2022, that percentage rose to over 7%, despite a significant rise in ETH and LTC market share. Clearly, the crypto-betting market is no longer confined to a couple of coins.  

Finally, expansion in Latin America could drive future growth. Several crypto-focused brands are expanding in a region where immense growth in iGaming seems inevitable. Cryptocurrency looks certain to become a significant part of a flourishing gambling market.

The Future of Crypto Betting Is Bright; Hitting the Panic Button Is Premature

We should not ignore the discouraging trends. The overall value of the cryptocurrency betting market experienced a recent drop. Investors continued to flee as the crypto winter of 2022 hit the industry hard. Trillions of dollars were wiped off the market within a year, and those who invested at the peak of the bull run unquestionably suffered.

However, the “big picture” outlook for the crypto betting market remains positive. Despite the large downturn, the market has far from fallen off a cliff and looks in good shape. No one knows if or when crypto will rise again. Countless people have tried to make this prediction and failed miserably!

Yet, when it comes to the next crypto boom, it does seem a case of “when” rather than “if.” The crypto betting market has mainly stood firm in the face of mounting obstacles. Therefore, we can assume that it is far more robust than its critics claim. It seems likely that if the overall market recovers, growth in the betting niche seems inevitable.

Consequently, we can say that the future of crypto gambling is bright. Individuals who remain calm and refuse to press the panic button will likely thrive, while others flounder.

What Is A Meme Coin? 

Over the past couple of years, numerous projects have been launched that would fall under this category of digital currencies – the meme coin list is really, really long. That might feel confusing if you are not too well-acquainted with meme coins, so here’s a short recap of these tokens. 

Meme coins are cryptocurrencies that are based on memes. The first true meme coin is Dogecoin, based on the famous doge meme starring a cheeky Shiba Inu dog. Most of these projects have started as jokes and have no real value or use unless you manage to benefit from the potential price increase. 

Regarding sports betting, meme coins are yet to be the most common cryptocurrencies. According to the software provided SoftSwiss, Dogecoin is the fourth most popular cryptocurrency among gamblers, though it has only a 2.9% market share. 

Dogecoin, Shiba Inu, and Dogelon Mars are arguably the most important meme coins, or at least they are the biggest ones by market cap. When you want to use these types of cryptocurrencies for gambling, you will likely find the following meme coins on sportsbooks and casinos. 

Dogecoin 

Dogecoin started the whole meme coin scene when Billy Markus and Jackson Palmer launched it in 2013. The whole project was a funny joke until Elon Musk started tweeting about it, and suddenly the whole currency exploded. 

Dogecoin is the biggest meme token by market share, so it is probably not a surprise it is also the most common gambling, sports betting meme coin. You’ll have no trouble finding casinos and sports betting sites supporting Dogecoin. 

Shiba Inu 

Shiba Inu is another meme token that uses this dog breed in its name and logo. Shiba Inu, launched in 2020, intends to take over Dogecoin as the number one meme coin. So far, the efforts have fallen short. 

Even so, it has become the second-largest coin in this category. Shiba Inu is also planning to establish a stablecoin, and the project is headed for the NFT markets as well. There are some big plans, but only time will tell if they ever materialize. 

Dogelon Mars 

Dogelon Mars might not be the newest meme coin, but it is arguably one of the most notable ones to be launched since Dogecoin and Shiba Inu. The inspiration for this one is pretty obvious: Elon Musk and his efforts to inhabit Mars. 

Dogelon Mars is the third-largest meme token by market cap. Even though it is not the most popular sports betting meme coin yet, it might be on its way there. We would guess that more gambling sites will soon adopt Dogelon Mars. 

Are Sports Betting Meme Coins Popular?

When discussing the popularity of meme coins and betting, you should first note that these tokens are also used for other purposes. The primary purpose is price speculation, but some retailers also accept Dogecoin and Shiba Inu. 

Cryptocurrencies are also becoming more common on gambling sites. Only a few years ago, casinos accepting any cryptos were more of a peculiarity, but now there are dozens or even hundreds of sites accepting them, meme coins included. While meme coins are still far from being the number one choice for punters, they are becoming more popular. 

What Games Can You Play With Meme Coins? 

When talking about the game selection available when gambling, meme coins and other cryptocurrencies are pretty much even. While there are some casino games and slots you can play directly with cryptocurrencies, in many cases, you need to convert your crypto deposit into a fiat or game currency to play. 

In terms of sports betting, meme coins enjoy a different position. Some bookkeepers allow you to place bets directly with Dogecoin, Shiba Inu, or other meme coins. In contrast, others might allow only deposits that are then exchanged for fiat currency to place bets. 

Sports Betting With Meme Coins

It doesn’t really matter whether you are into tennis, basketball, baseball, soccer, or football betting; you can use meme coins for wagers. There is no shortage of betting sites accepting cryptocurrencies, and usually, these sites accept at least one meme coin as well. 

Sports betting and the number of cryptocurrency users are growing steadily, so it makes sense that the share of bets made with cryptos is also growing. So far, dogecoin has dominated the sports betting meme coin market, but will the situation remain the same in the future? It is hard to say, but it looks like it will face much more competition. 

Traditional Casino Games And Slots

Casino games and slots are abundantly available in nearly all online casinos. Many casinos accepting cryptocurrencies have a special category for games that are designed explicitly for cryptocurrencies. 

Most big casino game developers don’t yet directly support cryptocurrencies, but that will likely change in the coming years. It only makes sense to offer crypto games when an increasing number of players use cryptos, and the big names know this. 

Claiming Bonuses With Meme Coins

Many players consider bonuses the number one reason online casinos beat land-based ones. Bonuses are great for added playtime and entertainment, but before you jump in and claim your first bonuses, get familiar with the most common bonuses casinos offer. 

Deposit bonuses 

Deposit bonuses are possibly the most common type of bonus you’ll find online. Whether you are into bingo, casino gambling, sports betting, meme coin deposit bonuses are likely available on any given site accepting cryptocurrencies. Deposit bonuses are generally marked as percentages, meaning a 100% bonus will provide you with exactly the same amount you deposited as bonus money. 

For example, if you claim a 100% bonus up to $100, you can start playing with $200 – your $100 deposit and the $100 bonus. The maximum amounts and bonus percentages depend on the offer, so be sure to check them before you make the deposit. 

The terms and conditions for deposit bonuses vary wildly between different sites, and you should know at least the wagering requirements and whether the winnings are capped. Even though reading through the terms can feel tedious, it is worth the few minutes it takes to read them. 

Free spins

Free spins are just like they sound, free spins in a specific game. The casino often chooses the game, but in some cases, you can pick the game yourself from a limited selection. Free spins come in different forms, so you should know what you are getting into before you claim your spins. 

One key thing to note when claiming some spins is whether the winnings are paid in cash or as bonus money. In the latter case, you will need to wager the winning before withdrawing your winnings. If you are paid in cash, feel free to withdraw your potential winnings straight away. 

Another thing you should be aware of is the winning cap, as free spins winnings are often limited to a set amount. If you win more, the amount exceeding the limit is simply removed. Just like with deposit bonuses, you should check out the terms before you make any decisions. 

Gambling With Meme Coins Is Becoming More Popular

As both the gambling and crypto industries are growing year after year, it is safe to say that gambling with meme coins will also keep growing. The latest crypto winter has been sending shocks throughout the industry, but it might be a good thing in terms of gambling with meme coins. 

As the prices are rising slowly, it might be a good time to try combining sports betting, meme coins, and casino games. If you get lucky, you can hold onto your winnings and wait for the next crypto spring to come after the long, cold winter. 

Things went smoothly as the market continued to grow, with investors delighted by the large and rapid returns. It led to one crypto sponsor deal after another as companies within the sector perhaps thought that the good times were here to stay. However, as many people expected, the cryptocurrency market hit a serious downturn.

Certain organizations seem to have bitten off more than they can chew, but is this the case for everyone? Read on to find out more about the big crypto partnerships gamble and whether it is likely to succeed.

Crypto Companies Are Going Big on Sports Advertising

Cryptocurrency brands doing things in half measures is pretty rare. Therefore, it is no surprise that many went all-in regarding sponsorship deals. According to a Bloomberg report in May 2022, crypto companies had spent over $2.4 billion on sports advertising during the previous 18 months.

These deals included crypto sponsoring F1, and soccer teams such as Chelsea and Barcelona, not to mention developing partnerships with MLB and NBA teams. 

Here’s a quick overview of some of the crypto sponsorships of note:

• Chelsea FC, a soccer team in the English Premier League, signed a $23m deal with WhaleFin to display the brand’s logo
• Crypto.com became the official crypto sponsor of F1
• Crypto.com announced a historic partnership with UFC in July 2021, where it became the mixed martial arts organization’s first global Official Fight Kit Partner
• Coinbase became the official digital currency exchange site of the NBA, as well as the NBA G and WBNA leagues
• The famous Staples Center in Los Angeles was renamed the Crypto.com Arena in November 2021
• The Dallas Cowboys NFL team entered into a partnership with Blockchain.com  

Furthermore, some crypto companies paid $7 million for a 30-second ad during the 2022 Super Bowl! Clearly, brands in the niche felt that money was no object in their mission to spread the word about cryptocurrency.

Why Did It Happen So Suddenly?

The crypto market experienced rapid growth in 2020 and 2021. At one point in March 2020, Bitcoin was trading at just over $6,000. By January 1, 2021, its price was over $32,000, reaching a record of over $68,000 in November 2021. The overall market value of cryptocurrency exceeded $3 trillion.

Crypto companies made a huge amount of money in a very short period and decided to roll the dice on sports partnerships. These brands elected to focus on advertising in the world of sports for the same reasons other companies do. They wanted to use crypto’s momentum to tap into huge fanbases, not to mention fan loyalty. A well-placed ad can turn an unknown company into an overnight sensation.

It is a well-known fact that major sports deals make significant market waves. By creating crypto partnerships with nationally and internationally recognized sports franchises and personalities, companies could gain huge traction in quick time.

Sports teams, followed by fans desperate for success, were only too happy to get their hands on cryptocurrency money. Therefore, it was a mutually beneficial situation. That is, until the market crashed.

Going Overboard

The good times didn’t last long. By January 2022, BTC’s price was less than half its record high. After a brief recovery, Bitcoin’s price fell to almost $18,000 in July 2022, and other digital assets lost huge value. The complete collapse of the stablecoin Terra was another dark day for crypto. Many investors lost their life savings when the value of Terra plummeted almost to zero in May 2022.

Suddenly, organizations that had gone in big on crypto partnerships realized they couldn’t afford them. Voyager Digital, a cryptocurrency platform that signed numerous high-profile deals in 2021, filed for bankruptcy in July 2022. The company has over 100,000 creditors, anywhere between $1 billion and $10 billion in assets, and similar liabilities.

Crypto.com is another brand that may have overplayed its hand during the boom of 2021. One report suggests that the exchange has cut the scope of agreements with major sports organizations, including its deal with FIFA for the 2022 World Cup.

According to Angel City, an L.A.-based team that signed a deal with Crypto.com, the exchange withheld payments and backed out of the deal. It also dropped out of a deal with the UEFA Champions League, reportedly worth nearly $500 million. Furthermore, up to 40% of the company’s staff left between June and August.

Will Sports Teams Want to Engage in Crypto Partnerships?

In a case of extraordinarily poor timing, the Washington Nationals MLB team signed a deal worth $38 million with Terra in February 2022. Within months, Terra had effectively disintegrated. With Crypto.com and other companies pulling out of deals, will sports organizations want to risk signing deals in the future? Signing a $100 million deal is one thing; getting full payment is quite another.

Also, there is a risk to a franchise’s reputation by aligning itself with a company that could potentially fail. For example, there’s a growing trend of teams naming their stadiums after crypto companies, like Crypto.com and the Staples Center. However, such deals can quickly lose their luster if a sponsor hits the skids. No one wants a stadium named after a failed or struggling company!

Indeed, there is another dilemma. Do sports franchises want to encourage fans to invest in a risky cryptocurrency by plastering its logo on billboards within the stadium?  

Will This Gamble Pay Off?

It is too early to say in a largescale sense, but certainly, some companies have overreached and will pay dearly. It seems unlikely that Voyager Digital will be alone in instigating bankruptcy proceedings. Even Crypto.com, a giant in the industry, is suffering the effects of overreaching.

According to Bloomberg, during the height of the 2022 bear market, the Bank of America’s crypto users shrunk by around 50%. Cryptocurrency trading experts point out that the potential for massive profit hasn’t waned, with some companies making fortunes during the so-called “crypto winter.”

However, whether the big gamble on crypto sports sponsorships pays off depends on how quickly the market rebounds if it does at all. The limited history of cryptocurrency suggests that it will bounce back, but time will tell.

Online Sports Betting Revenue 

There are many aspects to sports betting revenue growth. One of the key elements is the number of states allowing betting, especially online gambling. Once a state allows gambling, it is up to the operators to offer odds for different events and find the clientele against the fierce competition. 

In addition to sports betting, it will remain to be seen whether more states will also allow online casinos to operate within their borders. While more states have allowed online betting than not, the same cannot be said about casinos – so far, only a handful of states allow online slots and table games.  

Sports Betting Revenue Projections 

In 2020, there was 21.6 billion dollars worth of bets made, but in 2021, the numbers had gone up to $57.71 billion. The sports betting revenue grew nearly 180% to $4.33 billion, and it looks like this trend will also continue in the coming years. 

The US sports betting market is projected to continue growing at a fairly fast pace. The commercial sports betting revenue was up 69.6% year-over-year in August, reaching $3.9 billion. It looks likely that the growth will continue, but how fast can it be? The revenue is projected to more than double by 2028, but it could well be that the growth rate will be even faster than that. 

New States Could Bring More Revenue 

One of the biggest reasons explaining the growth between August 2021 and August 2022 is that six more states allowed betting during that time. That is also the number one reason why the revenues are likely to continue growing since new states are opening their markets to betting operators in the near future. 

Maine passed a gambling bill in May 2022, which should be effective midway through 2023. In Nebraska and Maryland, the bills were passed and signed already in 2021, but it is still unclear when these acts will be in force. Ohio and Massachusetts have also passed their own gambling bills. In Ohio, it is anticipated to launch at the beginning of 2023, and in Massachusetts, either late 2022 or the beginning of 2023. 

These newest additions will likely bring a massive increase in revenue. Many operators have their eyes on Ohio, as the state’s population is close to Pennsylvania, which has become one of the biggest states in terms of revenue. 

Sports Betting By State 

Ever since the US Supreme Court struck down the federal laws banning betting, more than half of the states have allowed online sportsbooks to operate, and roughly two-thirds of the states allow betting in some form, whether via a mobile app or in person. 

When considering the overall revenue, the biggest gambling hub is Nevada – which is hardly a surprise. The second biggest sportsbook market outside of Nevada is New Jersey, where over 80% of all bets are made online. 

Ever since legalizing online sportsbooks in 2019, Pennsylvania has been en route to becoming one of the biggest states in betting. As it is also one of the most populous states, it could be the next big thing in the US sports market. 

With more and more states allowing gambling, the spotlight has been on California, home to nearly 40 million Americans. It doesn’t look likely that the good people of the Golden State will get to enjoy online betting any time soon, with governor Gavin Newsom being of the loudest opposers of the proposed gambling act, known as Proposition 27. 

One aspect of online gambling that should not be neglected is the variety of games on offer in each state. While most states have only allowed online sports betting, a few have also legalized online casinos. Among these states are Pennsylvania and New Jersey, and it looks like more are to follow. 

Sports Betting Tax Revenues

After many states, from Arizona to Wyoming, legalized betting and started racking up the tax dollars the operators generate, many others have shown interest in doing the same. It is no wonder why since the tax revenues speak for themselves. 

In Arizona, for example, the state has accrued over $21 million in taxes ever since the sportsbooks opened. New Jersey and New York have collected over $268 million and $472 million, respectively, so the numbers are truly impressive. 

As the revenues of gambling companies have been growing year after year, so have the tax revenues of states. It will be interesting to see what happens with individual states’ tax policies, as that might affect the interest of companies to focus on one state instead of the other. 

As we said earlier, Pennsylvania looks to be the golden goose. Still, it’s at a rather high cost: The Keystone State charges gambling companies a licensing fee of $10 million, and the operations are slammed with a 36% tax.  

Crypto Betting Is Growing Too 

While the sports betting market as a whole is getting bigger, so is betting with cryptocurrencies. It looks likely that both of these trends will continue in the future. When looking at the year-on-year growth figures, it becomes evident that the cryptos are slowly taking over fiat currencies. 

According to gambling company SoftSwiss, 70.4% of all bets made in the first half of 2021 were made with fiat currencies, meaning a bit under a third of all bets were made using cryptos. But comparing the numbers with those of one year later, the percentage of fiat bets has fallen to 65.2% while crypto bets have grown to a 34.8% share. 

Even with the so-called crypto winter blowing over the markets with its freezing and deadly touch, it seems like crypto gamblers are not letting the price fluctuations affect them too much. What will the market shares look like once the crypto spring finally comes? 

It is impossible to know for sure, but keeping these current trends in mind, it could well mean that the cryptos are closing in and challenging the dominance of fiat currencies. 

Top Cryptos on Gambling Sites 

Gambling with cryptocurrencies is on the rise, but with which cryptos exactly do people gamble? The list and its order are probably not a huge surprise to punters who are also familiar with digital currencies. Although the SoftSwiss analysis does not cover the whole crypto-gambling industry, these numbers can be considered indicative globally. 

The number one by a rather large margin is bitcoin. In the first half of 2021, bitcoin’s share of the crypto-gambling market was a whopping 80.75%. However, the market share had dropped to 71.2% by the first half of 2022. 

At the same time, the second biggest currency used in gambling, Ethereum, saw its market share rise from 9.5% to 14.7%. Litecoin, third on the list, also increased its share from 4% to 6.15%. Dogecoin and USDT have 2.9% and 3.2% market shares, respectively. 

While bitcoin still has a massive lead in the gambling sector, looking at the big picture, it seems like it might slowly melt away. Many smaller digital currencies, like Cardano, Tron, and Binance Coin, currently have only a small fraction of the market but could start growing quickly. 

The Revenues Will Likely Continue to Grow 

We seem to be looking at two simultaneous trends: on the one hand, more and more states are allowing sports betting, driving up the revenues of the companies as well as the tax revenues. On the other, investors’ interest in all things crypto seems to be growing as well, which evidently also means a growing interest in crypto betting. 

While it might be too simplistic to say that these things are directly tied to one another, it would also be foolish to assume that both of these markets growing simultaneously is just a coincidence. 

The only safe thing to say is that the gambling revenues will continue to grow with new states opening up for sportsbook operators, and it looks likely that once the last crypto winter is over and the temperatures are rising again, the crypto markets will continue to grow as well. The one-billion-dollar – or maybe one–trillion–dollar – question is: how fast can the growth be? Nobody has the answer right now, but we are surely interested in finding out in the coming years. 

The report included data on digital currency gambling and found that crypto betting in H1 2022 increased by over 46% compared to H1 2021. Furthermore, the betting volume, standing at over $37.5 billion, was an incredible 246% increase on the H1 2020 figure.

Interestingly, the gap between fiat and crypto for betting purposes is closing. In the first half of 2022, almost 35% of bets involved crypto. Another fascinating trend is that Bitcoin’s dominance is decreasing. In the first half of 2021, over 80% of crypto bets were made using BTC. H1 2022 data found that this figure decreased to just over 71%, with almost 15% of cryptocurrency wagers involving Ethereum.

Another report, this time by TripleA, investigated gambling demographics relating to digital currency. It found that over three-quarters of crypto payers were in the 15 to 35 age bracket. Meanwhile, almost half of crypto owners were interested in spending their coins on online gambling or gaming in the future.

People are finding greater use for digital currencies, particularly online betting. Additionally, the practice of using cryptocurrency is increasing in the biggest gambling countries in the world. This article investigates the top crypto betting countries while highlighting the pros and cons of using digital assets to place bets.

What Are the Top Online Betting Countries That Use Cryptocurrency?

There is a recent move towards crypto in the biggest gambling countries with different reasons why the use of digital currency has taken off. In the United States, for example, online casino gambling is banned in most states. However, crypto casinos are much harder to regulate, allowing people to bet even if their jurisdiction outlaws the practice.

We’re now going to look at the top online gambling countries where crypto use is widespread, investigating the possible reasons for its popularity. The following list is NOT in a specific order. Unfortunately, the nature of crypto betting means that finding accurate data in each country is a tall order at present.

1. Canada

Canadian provinces have the power to legalize single-game wagering, so the gambling industry seems certain to enter a period of sustained growth. Indeed, Canada is already one of the world’s biggest gambling countries. Analytics Insight says there are over 19 million active online gamblers nationwide.

Canadians spend about $16 billion in local casinos yearly and another $4 billion on offshore gambling sites. The gambling demographics in Canada are surprising, given that the pursuit is usually associated with men. Approximately 43% of online gamblers are women in Canada.

Canada also tolerates cryptocurrency, so it isn’t surprising to learn that the two markets are beginning to combine. Canadians are starting to prefer the almost instant transactions provided by cryptocurrency gaming sites, not to mention the larger deposit and withdrawal limits.

2. United States

An NBC News poll in 2022 showed that about 20% of American adults have used, traded, or invested in cryptocurrency. In addition, data from Chinalysis, a blockchain analytics organization, found about 70 crypto-friendly casinos available to American customers. These casinos earned nearly $3 billion within the first three months of 2022. This figure puts the industry well on track to beat the $10 billion earned in 2021.

However, there are concerns over the lack of regulation in the industry. The American Gaming Association has even spoken to the U.S. Government. Still, since many crypto casinos aren’t regulated or registered in the United States, it isn’t easy to prosecute organizations acting illegally.

3. United Kingdom

The UK has been one of the world’s top gambling countries for decades, with residents betting on everything from horse racing to virtual sports. In March 2022, over 40% of Britons gambled at least once during the month.

Although National Lottery and scratch cards make up a high proportion of this figure, betting on horse racing and other sports also features prominently. In the UK, bookmakers are legally required to engage in robust Know Your Customer (KYC) protocols. They are also quick to restrict or close the accounts of winning punters.

For such individuals, cryptocurrency betting offers a completely different avenue. Successful bettors can access dozens of new accounts and bet on many sports and markets.

4. Japan

The Land of the Rising Sun is crypto-friendly and one of the few Asian nations that permit online gambling. Lower transaction costs and added privacy are why the Japanese enjoy crypto gambling.

There was an interesting development at the Tokyo Game Show in September 2022. One of the stands featured a loan provider for players of blockchain games. Yield Build Games, a company based in the Philippines, is Asia’s largest provider of start-up loans for individuals looking to earn a living playing blockchain games.

Japan is part of a region known for having lots of high-quality esports gamers. Therefore, perhaps it is no surprise that Japanese citizens are keen to earn a living from being professional gamers.

5. Australia

No list of the best countries for gambling would be complete without Australia, a nation where over one-third of people aged 18+ spend money on gambling in a typical month. Many online casinos Down Under permit people to use crypto.

There is a possibility that the Northern Territory Racing Commission (NTRC) will include crypto betting as part of the regulated gambling industry. If this plan goes ahead, it will be a game-changer for cryptocurrency gambling in Australia.

6. Brazil

Brazil is in the midst of a so-called “crypto boom.” With an inflation rate that surpassed double digits in 2021 and the fall of the Brazilian real against the U.S. dollar, investors are seeking new ways to get value for their money.

Indeed, Brazilians receive incentives to buy cryptocurrency instead of American dollars to hedge against inflation. Moreover, many major crypto exchanges, including Binance and Crypto.com, are planning to invest in Brazil.

They aren’t the only companies looking towards the South American powerhouse. In August 2022, Crystal Wealth Group launched BetCoco, a new crypto casino, in Brazil. The platform offers customers sports, esports, and live casino betting, a sure sign that crypto gambling is about to take off in Brazil.

Why Are So Many People Gravitating Towards Crypto?

The list of reasons why gamblers are starting to prefer crypto to fiat is growing and includes the following:

• High Security: The blockchain technology used in crypto gambling is incredibly secure and does an excellent job of keeping your transactions secure. You have full control over your account balance since you’re the only person with direct access to your digital wallet.
• Higher Deposit & Withdrawal Limits: A major source of frustration for serious bettors is the restrictions placed on deposits, particularly withdrawals. On the other hand, top-rated crypto betting sites like Stake.com have no withdrawal limits, which is perfect for high-rollers.
• Faster Transactions and Lower Fees: Certain fiat-accepting platforms can take at least one working day to process withdrawals, while payment methods like PayPal and Neteller come with hefty transaction fees. In contrast, reputable crypto-betting platforms charge minimal fees and immediately process your withdrawals.
• Anonymity: There is an obvious paper trail when you use a fiat betting site, and your bank can see it. If you try to apply for a loan, the bank will reject your application if it finds evidence of online gambling. With crypto betting, no trace of your activity is visible to financial institutions.
• Extra Rewards and Bonuses: Now that the crypto betting sphere is so competitive, sites offer incredible bonuses and rewards. A standard welcome bonus, for example, is a 100% top-up on deposits of up to $1,000. However, you should read the site’s terms and conditions before registering.

Problems With Crypto Betting

Although cryptocurrency betting has many advantages, it isn’t a perfect system. Here are a few issues to consider:

• Volatility: The crypto market continues to experience high volatility, with the value of investments fluctuating wildly from time to time.
• Scam Companies: Cryptocurrency is decentralized, and with scant regulation, it is a breeding ground for scammers. Please read detailed reviews of whatever crypto betting sites you’re interested in to ensure they are legitimate.
• Mistakes Are Costly: If you make an error during a transaction, you could send your crypto to the wrong place with little chance of getting it back.
• Legality: Crypto gaming is often available in places where gambling is illegal, so check the legal status of it in your region.
• Feeds Gambling Addictions: Those who self-exclude from fiat-accepting platforms can easily fall down the crypto gambling rabbit hole and lose a fortune.

The Crypto Gaming Juggernaut Looks Unstoppable

In the world’s top gambling countries, the gap between the usage of fiat and crypto is closing rapidly. It seems inevitable that one day, cryptocurrency wagering will make up a majority of all online bets made.

While there are plenty of reasons to join the revolution, it is essential that you perform due diligence and only bet with companies that have established a good reputation. Otherwise, you could become the latest victim of a crypto-related scam.

The process involves analyzing World Cup history to determine if you see any prevailing trends. For example, you might find that certain nations only perform well when the tournament occurs on a specific continent. From there, you try to determine the trend’s strength and check relevant markets. At that point, you have to decide if the odds are tempting enough to place a bet.

This article analyzes wonderful and weird World Cup facts, examining the data to see if there are useful betting trends.

Five Fascinating World Cup Fun Facts

World Cup history features some remarkable achievements, not to mention plenty of embarrassing moments for individuals and nations. You might not realize it, but analyzing what seem to be World Cup curiosities could provide you with useful information to guide your wagers.

Here are five interesting FIFA World Cup facts that could give you an angle to attack the bookies.

1. Young Guns

At 17 years and 41 days, Norman Whiteside remains the youngest player to participate in a World Cup when he played for Northern Ireland in 1982. The legendary Pele has the record for the youngest goalscorer. He was 17 years and 239 days young when he netted for Brazil against Wales in the 1958 World Cup quarter-final. Pele scored a hat-trick in the semi-final and two goals in the final!

Talented youngsters likely to play in the 2022 edition (age in brackets) include:

• Youssoufa Moukoko (17) – Germany
• Gavi (18) – Spain
• Yunus Musah (19 – Turns 20 during the tournament) – United States
• Jude Bellingham (19) – England
• Eduardo Camavinga (20) – France

Of the above, Bellingham, an attacking midfielder, is arguably the most likely to be the youngest goalscorer in the tournament.

2. Old Stagers

Essam El Hadary is the oldest player to compete in a World Cup game. He was 45 years and 161 days old when he played in goal for Egypt at the 2018 World Cup. Meanwhile, Roger Milla is the oldest World Cup goalscorer. Milla was 42 years and 39 days old when he got a consolation in Cameroon’s thrashing against Russia in the 1994 event.

Here are a few aging stars who may get to represent their countries in a World Cup for the last time:

• Cristiano Ronaldo (37) – Portugal
• Thiago Silva (38) – Brazil
• Dani Alves (39) – Brazil
• Luka Modric (37) – Croatia
• Olivier Giroud (36) – France

Of the above, the legendary striker Ronaldo is the most likely to be the tournament’s oldest goalscorer.

3. Fast Starters

Hakan Sukur holds the record for the quickest-ever World Cup goal. Incredibly, he struck for Turkey against South Korea in just 10.89 seconds during the 2002 World Cup third-place playoffs. There have been five occasions where a player scored in the first 30 seconds of a World Cup match.

What games are the most likely to feature early action? It is easy to stick to possible mismatches, but it can happen in almost any game. A prime example is Bryan Robson’s goal for England versus France in 1982 after just 27 seconds. However, a few possible options for quick goals include:

• Belgium versus Canada
• England versus Iran
• Netherlands versus Qatar
• Germany versus Costa Rica
• France versus Tunisia

4. We Have Lift Off

World Cup facts from the early tournaments are always fun to know. Lucien Laurent has the honor of scoring the first-ever World Cup goal. He scored for France against Uruguay in 1930. The tournament’s first goal is always a relief, a sign that the World Cup has really started.

Recently, the opening game features the hosts, a tradition that only began in 2006. From 1950 to 1970, the first match usually included the host. From 1974 to 2002, the holders played in the first game.

Until the last few tournaments, the opening game was often cagey. The four games from 1966 to 1978 were all 0-0 draws, with three goals only happening once between 1966 and 2002.

Memorable opening games include Senegal beating France 1-0 in 2002 (Bouba Diop with the goal) and Cameroon defeating Argentina 1-0 in 1990 (Omam Biyik scored) despite ending the game with nine players.

Who will score the first goal in the Qatar versus Ecuador match? The South American team is allowed to play. They were at risk of being expelled from the tournament for fielding an ineligible player in a qualifier against Chile. With 35 goals in 74 appearances, veteran striker Enner Valencia is Ecuador’s biggest threat.

For the hosts, Almoez Ali is their main goal threat, with 42 goals in 85 appearances. However, a low-scoring game is on the cards. Therefore, we may need to wait until England versus Iran or even Senegal against the Netherlands for our first goal!

5. Mismatches

Although the World Cup brings together some of the best teams on the planet, there is usually a mismatch or two in every tournament. Three teams have won matches by nine-goal margins:

• Hungary 9 – 0 South Korea (1954)
• Yugoslavia 9 – 0 Zaire (1974)
• Hungary 10- 1 El Salvador (1982)

Russia’s 5-0 win over Saudi Arabia and England’s 6-1 romp against Panama were the biggest wins in the 2018 event.

You might be in luck if you look for similar mismatches in the 2022 World Cup. Possible candidates for big wins for the favorite include:

• Argentina versus Saudi Arabia
• France versus Australia
• Brazil versus Cameroon

General World Cup Facts & Trends to Help You Beat the Bookie

With a little research, we uncovered a few strong trends that may point toward successful wagers.

1. European Dominance

Here’s one of the most relevant World Cup facts. There have been 21 World Cup finals, 19 of which have featured at least one European nation. Indeed, you have to go back to 1950 to find one that didn’t feature a team from Europe. Three of the last four finals have been all European affairs, and the last South American team to win the tournament was Brazil in 2002.

There’s a possibility that this could change in 2022. The draw keeps Argentina and Brazil apart until the final if both sides win their groups. In this case, is it worth betting on an Argentina versus Brazil final to snap the dominance of European teams? Of course, for this to happen, the South American giants will have to navigate games against the likes of France, Spain, Germany, and England.

2. Eight-Nation Army

European sides have enjoyed success for much of the history of the World Cup. However, a handful of teams account for the continent’s dominance. Germany, Italy, and France account for 10 of the continent’s 12 wins. Overall, just eight nations have won the World Cup, with Brazil being the most successful team with five triumphs.

Will the name of a ninth nation be written into folklore in 2022? Of the teams yet to win it, Netherlands, Portugal, and Belgium are the most likely victors. However, those looking for an outsider may look towards Senegal to finally break Africa’s duck.

3. The Champion’s Curse

In recent times, winning the World Cup has guaranteed poor performance in the subsequent tournament. Incredibly, the 2006, 2010, and 2014 winners all failed to make it out of their respective groups in the following World Cup!

Will the holders, France, meet the same fate? It seems unlikely, given that their group contains Tunisia, Denmark, and Australia. However, when Les Bleus entered the 2002 tournament as the reigning champions, they finished bottom of a group containing Denmark, Senegal, and Uruguay!

4. An Underdog Story

The World Cup contains stories of underdog teams marching further than anyone thought possible. These include:

• Croatia – Runners-Up (2018)
• Costa Rica – Quarter-Finals (2014)
• Uruguay – Semi-Finals & Ghana – Quarter-Finals (2010)
• Portugal – Semi-Finals (2006)
• Turkey and South Korea – Semi-Finals & Senegal and United States – Quarter-Finals (2002)

Usually, at least one team defies expectations in the tournament. Which team will it be this year? Remember, you can bet on teams to make the knockout stages. You can even try an each-way wager on a team to win the World Cup and profit if they make the semi-finals. Make sure the bookmaker pays out on four places in this instance. Possible success stories in 2022 include:

• Senegal
• Serbia
• Denmark
• Switzerland
• Uruguay

5. Host Performance

Historically, the host of the World Cup enjoys a modicum of success. Indeed, South Africa remains the only host nation NOT to reach the round of 16. We recently saw Russia make the quarter-final, and South Korea shocked the world by reaching the last four. Previous good host performances from unfancied teams include:

• Mexico making the quarter-finals in 1986
• Chile getting to the semi-finals in 1962
• Sweden’s shock journey to the final in 1958

The question is: “Will Qatar make it out of their group?” Since they play Ecuador, Netherlands, and Senegal, the likely answer is ‘no.’ However, with home advantage, they could shock the world, and the odds of them doing so are fairly generous.

Facts About the World Cup in Qatar

The Qatar WC is unlike any other before it. Let’s explore a few issues that might affect the tournament and your betting decisions.  

Lack of Travel

In previous tournaments, some teams always had an advantage or disadvantage in terms of travel. This is not the case in 2022. There will be no physical toll from traveling as all eight stadiums are within a 20-mile radius of central Doha. The furthest gap between the stadiums is 35 miles, from the Al Wakrah Stadium to the Al Bayt Stadium in Al Khor City.

In Euro 2020, England ended up playing almost every game at home while their opponents traveled all over Europe. It played a big role in the English team making the final. However, no team will have this edge. Will this further reduce the chances of an underdog springing a surprise?

Is the Heat Really On?

Much was written about the tournament heat, with some group games taking place in temperatures of up to 82 degrees Fahrenheit. Group matches played at 1 pm and 4 pm local time will have the hottest temperatures. Knockout games will occur in the evening when temperatures fall to 66 – 78 degrees Fahrenheit. Furthermore, every stadium is air-conditioned, so the temperature at the pitch level is 70 degrees.

Therefore, the heat in Qatar should prove no more of an issue than several previous World Cups. Temperatures during the 2014 edition in Brazil routinely exceeded 78 degrees Fahrenheit. Things were much worse during the 1994 World Cup in the United States, where pitch-side temperatures reached nearly 100 degrees for some games.

Consequently, the Qatari heat will probably cause less of an issue than many people realize.

Mid-Season Madness

One of the many criticisms of this World Cup is the scheduling. It takes place in the middle of the season in most of the globe’s biggest leagues. Typically, players participate in tournaments after enduring a long, hard full season.

However, the global pandemic caused a general squeezing of the football calendar. The summer break was extremely short, and there was little time between the end of domestic football and the start of the World Cup. This surely severely affects preparation.

Add in the near certainty of player fatigue, and the chances of upsets grow. It is also worth noting that the Qatar World Cup features more games condensed into the calendar than usual, increasing the risk of injuries. Perhaps the nation sustaining the fewest injuries to key players will win!

It also means the knockouts will be cagier than usual, with teams reluctant to attack and keen to preserve energy. Traditionally, the knockout stages feature low-scoring matches. You may want to think about betting on ‘under’ for match goals, not to mention backing the draw, and perhaps a bet or two on a game going to penalties.

A Different Atmosphere

Stadia are relatively small, and it isn’t clear whether fans of the teams playing or locals will fill them. If it is the latter, games may have a strange atmosphere which could also affect player concentration and performance. Therefore, you might find a few underdog teams available at nice odds to cause upsets.

Facts About the World Cup: Qatar Will Be a Historic Event

The 2022 version of the beautiful game’s most prestigious event in Qatar will be a unique tournament, for better or worse. Therefore, learning facts about the World Cup may not have the same effects as usual. Nonetheless, they can serve as a useful guide and help narrow your search.

Use trends to decide which teams are likely to go all the way, cause a sensation, or meekly excite the tournament. You can also use World Cup fun facts to make bets, such as backing a player to score extremely early in a match or selecting one nation to dominate another completely.

Bettors looking to investigate crypto gambling can sign up with one of several reputable providers. Doing so allows for anonymous betting on the 2022 World Cup.

Crypto betting regulations still have issues, and the problem is getting more attention than ever before. Read this review to learn more about current crypto betting regulations and which countries approve of the activity.

How Does Cryptocurrency Betting Work?

Basically, blockchain betting occurs in two different ways: on-chain and off-chain. The off-chain gambling industry consists of physical and online casinos that approve cryptocurrency. These establishments use third-party platforms to turn Bitcoins or other cryptos into fiat currencies. You can also find online casinos that work without relying on fiat currency and paying only in Bitcoin. 

Conversely, on-chain betting is where a decentralized application runs on a blockchain network. In this case, a smart contract is created and logged on the blockchain when you place a bet on a selected platform. This contract confirms that a bet has been placed and guarantees that a player will receive a payment if he wins. In addition, games are provably fair, allowing customers to verify the fairness of every result.

On the other hand, off-chain online casinos are simpler for authorities to pursue. Generally, you will see that crypto betting sites regularly block the IP addresses of some states. This is especially the case with players from certain countries like the United States.

United States Crypto Betting Regulations

The United States is one of the largest markets in the world that allows the use of Bitcoin for different transactions. At the same time, Bitcoin is considered a currency for taxation purposes. At this time, no crypto betting regulations would prohibit it if you use any crypto to access gambling sites. 

Comparatively, only a few states allow online gambling, including Delaware, Michigan, New Jersey, Nevada, Pennsylvania, and West Virginia. Hence, if you reside in one of these states, you can rest assured about engaging in crypto gambling options. To check users’ locations during playing sessions. online casinos that offer games in all these states’ regions take advantage of geolocation services. 

Below, you can take a look at the current crypto betting regulations for the USA in each state where gambling is legal.

Delaware Crypto Betting Regulations

• Legal forms of crypto gambling: online casinos, sports betting, poker
• Existing laws: Delaware Gaming Competitiveness Act
• Legal since: 2012
• Regulator: Delaware Lottery
• Tax rate: 2.2% – 6.6%
• Legal age: 21

Michigan

• Legal forms of crypto gambling: online casinos, sports betting, poker
• Existing laws: Lawful Internet Gaming Act
• Legal since: 2019
• Regulator: Michigan Gaming Control Board
• Tax rate: 4.25%
• Legal age: 21

New Jersey

• Legal forms of crypto gambling: online casinos, sports betting, poker
• Existing laws: Assembly Bill 2578
• Legal since: 2013
• Regulator: New Jersey Department of Gaming Enforcement (NJDGE)
• Tax rate: 3%
• Legal age: 21

Nevada

• Legal forms of crypto  gambling: sports betting and poker
• Existing laws: Assembly Bill 114
• Legal since: 2013
• Regulator: Nevada Gaming Commission (NGC)
• Tax rate: 7.75%
• Legal age: 21 

Pennsylvania

• Legal forms of crypto gambling: online casinos, sports betting, poker
• Existing laws: Expanded Gaming Act 
• Legal since: 2017
• Regulator: Pennsylvania Gaming Control Board
• Tax rate: 3.07%
• Legal age: 21

West Virginia

• Legal forms of crypto gambling: online casinos, sports betting, poker
• Existing laws: West Virginia Lottery Interactive Wagering Act
• Legal since: 2019
• Regulator: West Virginia Lottery
• Tax rate: 6.5%
• Legal age: 21

United Kingdom Crypto Betting Regulations

The United Kingdom is another country with a liberal approach to crypto gambling. According to UK crypto betting regulations, online casinos that seek to provide such services must ensure the legitimacy of crypto funds before applying for a license from the UK Gambling Commission. Once the operators obtain a license for performing crypto gambling activities, players are free to engage in regular wagering with Bitcoin and other popular cryptos.

• Legal forms of crypto gambling: online casinos, sports betting, poker
• Existing laws: Gambling Act
• Legal since: 2005
• Regulator: UK Gambling Commission
• Tax rate: gambling winnings are not taxable, while crypto gains are subject to 10% or 20% tax 
• Legal age: 18

Regulations in Canada

In Canada, the legislation makes it illegal for companies to provide any gambling and services to local citizens without getting a license from the local province. 

In fact, the Canada Federal Criminal Code, all forms of online gambling are prohibited. However, Canadians are still allowed to gamble on sites located overseas. 

Additionally, the individual provinces in Canada are entitled to regulate gambling across their regions, and some local governments manage their online betting and gaming outlets. In 2004, the British Columbia Lottery Corporation introduced the very first legal online casino in Canada, PlayNow.com, allowing residents of Manitoba and British Columbia to enjoy legal gambling.

As for crypto betting regulation, Canada has yet to define it. Even if using cryptos is allowed in different industries, cryptocurrencies are still not legal tender based on the law. 

• Legal forms of gambling: depends on the province
• Existing laws: Criminal Code
• Legality: Illegal on a federal level
• Regulator: Canadian Gaming Commission
• Tax rate: Tax-free if you are not a professional player
• Legal age: 18-19

Canada consists of ten provinces – Ontario, Quebec, Nova Scotia, New Brunswick, Manitoba, British Columbia, Prince Edward Island, Newfoundland and Labrador, Saskatchewan, and Alberta. Each province regulates gambling in different ways, as can be seen below:

Ontario Crypto Betting Regulations

• Legal forms of gambling: sports betting
• Existing laws: C-218 Bill, Gambling Control Act of 1992
• Legal Since: 2003
• Regulator: Alcohol and Gaming Commission of Ontario (AGCO)
• Tax rate: between 5.05% – 13.16%
• Legal age: 19

Quebec

• Legal forms of gambling: online casinos and sports betting
• Existing laws: Act respecting the Société des loteries du Québec
• Legal since: 2010
• Regulator: Regie des alcools, des courses et de Jeux
• Tax rate: non-taxable (only if you are a professional player who earns big amounts)
• Legal age: 18 or more

Nova Scotia

• Legal forms of gambling: online casinos and sports betting
• Existing laws: Gaming Control Act
• Legal since: 2021 (sports betting) and 2022 (casinos through the Atlantic Lottery Corporation)
• Regulator: Alcohol, Gaming, Fuel and Tobacco Division of Service Nova Scotia
• Tax rate: non-taxable (only exception if you are a professional player)
• Legal age: 19 or more

British Columbia

• Legal forms of gambling: online casinos, sports betting, poker
• Existing laws: Gaming Control Act
• Legality: 2010 (online casino through PlayNow.com) and 2021 (sports betting)
• Regulator: British Columbia Lottery Corporation
• Tax rate: non-taxable is you are a recreational player
• Legal age: 19 or older

Australia Crypto Betting Regulations

Australia is known for restrictive online gambling provisions. In fact, according to Australian crypto regulation and its Interactive Gambling Act of 2001, Australian companies cannot offer certain gambling services, including online casinos, in-play sports betting, sports betting services without a country license, and betting on the lottery.

Residents who would like to play at offshore sites are not prohibited from doing so. However, in regard to Australian crypto regulation, the Australian gambling authority Northern Territory Racing Commission (NTRC) introduced an informal ban against online cryptocurrency wagering, excluding Bitcoin and Ethereum.

• Legal forms of gambling: depends on the state
• Existing laws: Interactive Gambling Act
• Legal status: Illegal
• Regulator: The ACT Racing and Gambling Commission
• Tax rate: NA
• Legal age: NA

Vietnam and Crypto

Overall, Vietnam is one of the leaders in cryptocurrency usage. The country hasn’t adopted any law regarding using, trading, and owning cryptocurrencies but has widely embraced digital currencies. In fact, the governor of the State Bank of Vietnam (SBV) issued Circular No. 09/2022/TT-NHNN. This document provides guidance on foreign exchange management that applies to prize-winning electronic games for foreigners. 

Online gambling, on the other hand, is prohibited throughout the state. You should know that players who engage in any sort of gambling activity risk being punished criminally or administratively. Still, players can visit offshore gambling sites and place their wagers. 

• Legal forms of gambling: horse race betting on the state tracks in Hanoi and Ho Chi Minh City, betting on greyhound racing in the Lam Son Stadium in Vung Tau, and the Vietnam Lottery 
• Existing laws: Criminal Code (Bộ luật hình sự), Casino Decree (Nghị định)
• Legal status: illegal
• Regulator:  State Government
• Tax rate: NA
• Legal age: NA

Indonesia Gambling

Indonesia consists of 37 provinces and prohibits any online gambling based on Islamic law. Still, no legal enforcement exists, and players throughout the country engage in gambling activities. The Ministry of Social Affairs and Religious Affairs joined forces with the Ministry of Communications and Information Technology to set a ban on Indonesian players in 2012, but without success.

Players across Indonesia can visit offshore gambling sites without worrying about breaking rules. But since the law doesn’t protect players, sticking to a secure platform is always a recommendation.

If you want to use crypto in Indonesia, remember that The Indonesian Ulema Council (religious body) forbids using cryptocurrencies for exchange, including buying/selling transactions. Note that this edict is not a legal instrument that could prohibit people from using cryptocurrencies. However, it could deter local citizens.  

–       Legal forms of gambling: NA

–       Existing laws: Penertiban Perjudian (Gambing Control)

–       Legal status: Illegal

–       Regulator: NA

–       Tax rate: NA

Brazil Online Gambling

Brazil banned gambling activities in 1941, based on the Law of Misdemeanors (Decree Law No. 3688/1941). Still, there are some exceptions to the general ban so that players can engage in certain gambling forms, such as the lottery or poker. Players can also visit offshore gambling sites without risking any punishment. 

While online gambling remains illegal, The Brazilian Economic Affairs Commission (CAE) proposed a regulatory framework for cryptocurrencies. This instrument will provide greater transparency in cryptocurrency operations and prevent financial crimes. We can only expect to see regulation on crypto gambling in the years to come.

• Legal forms of gambling: horse race betting, lottery, poker, fixed odds sports betting, fantasy sports betting
• Existing laws: Law of Misdemeanors (Decree Law No. 3688/1941).
• Legal status: illegal with some exceptions
• Regulator: Federal Savings Bank for lottery
• Tax rate: 30% for legal forms

India Regulation

While India regulates the gambling market with the outdated Public Gambling Act of 1867, this Act does not have any prescriptions regarding online gambling and cryptocurrencies. Each state is allowed to set its gambling laws. The Act differentiates between games of chance and games of skill, with only the latter being allowed. The activity is considered legal because there is no official Law to prohibit online gambling in India. 

The local regulator does not prohibit or approve crypto regulation in India. However, the country adopted a 30% tax on digital assets as of April 1, 2022. This law applies to in-app purchases and reward points provided by crypto gaming apps. 

The future of crypto regulation in India and crypto gambling is still unknown. Taxation is one step in the good direction, with cryptocurrency being taxed only if you make a profit by selling coins.

• Legal forms of gambling: games of skill
• Existing laws: Public Gambling Act
• Legal status: not defined by law
• Regulator: NA
• Tax rate: 30%

Philippines Online Gambling

Filipino players are allowed to gamble online, with the only exception being that locally-based casinos and sportsbooks are not permitted to offer gambling services to residents of the country. However, Filipino players can access online poker, online casinos, horse betting, and online sports betting at sites regulated by local gaming commissions or regulatory agencies.

Based on the Philippines’ online gambling rules, players can access online casinos outside of the Philippines. The best recommendation is to stick to a licensed casino operator.

The Philippines doesn’t have any law prohibiting the use of cryptocurrencies for gambling. At the same time, the Philippines are one of the first Asian countries to accept cryptocurrencies.

• Legal forms of gambling: online casinos, sports betting, poker
• Existing laws: Presidential Decree 1067-a
• Legal since: 1975
• Regulator: Philippine Amusement And Gaming Corporation (PAGCOR) and Philippine Amusement And Gaming Corporation (FCRLC)
• Tax rate: 5%
• Legal age: 19-21

Turkey Regulations

Online gambling in Turkey is illegal as of 2007. However, players can enjoy online gambling on offshore gambling websites. In addition, the sportsbook brand Sports Toto Organization operates several Turkish online platforms, while the lottery Millî Piyango İdaresi operates a lottery platform. The former are the only legal businesses in the state.

As for using crypto, the Turkish government prohibited using crypto for payments. President Recep Tayyip Erdogan wants the country to control cryptocurrency activities fully. However, crypto can be used as an asset, allowing investors to buy, sell and hold popular coins. There is no gambling-specific law regarding cryptocurrencies in Turkey.

• Legal forms of gambling: sports betting, horse racing, lottery (games of chance)
• Existing laws: Law on Arranging Betting and Games of Chance in Football and Other Sports Competitions, Criminal Code
• Legal status: illegal with some exceptions
• Regulator: Ministry of Sports and the Spor Toto Association (for sports betting), Ministry of Finance and the National Lottery Administration (lotteries, games of chance, and social games)
• Tax rate: 5-10%
• Legal age: 18

Crypto betting regulations significantly differ from one country to another. Each country has laws regulating the sector in one way or another. Still, crypto betting lacks a regulatory framework in most countries around the world. For this reason, you should always be aware of local laws regarding cryptocurrency gambling and remain safe.

While betting enthusiasts look for regular engagement, teams and sports clubs strive to provide innovative solutions and meet their expectations. The increase in the number of crypto sponsorships and the introduction of the latest fan tokens, non-fungible tokens (“NFTs”), and similar projects may be just the ticket. The industry is growing rapidly, and learning more about such agreements seems logical.

What Are Crypto Sports Sponsorships

Cryptocurrency companies are turning into the largest advertisers and sponsors in the sports betting industry. And because they are ready to engage new audiences, sports leagues have also accepted crypto to increase revenues.

Cryptocurrency sports sponsorships are the perfect way of taking the business to the next level while getting more attention from both consumers and investors. Crypto companies see potential in the sports betting sector that connects crypto with gambling sites that accept crypto as a deposit method. 

Any crypto-friendly company can look for an appropriate sponsorship, with the sports betting sector being the best way for it. Sponsoring a small local club increases brand awareness, promotes brand loyalty, and backs the local community. Finding such deals requires getting in touch with local clubs and paying them a sponsorship fee. This will help them in covering the main costs for equipment and facilities. At the same time, crypto companies will get the right to promote their brand for a small fee. 

Popular Crypto Sponsorships in the Market

Many leading sports clubs and crypto operators have already signed deals, some of which are listed below:

• Chelsea has signed a shirt-sleeve sponsorship deal with WhaleFin worth £20 million a season. The WhaleFin logo will be on men’s and women’s kits teams from the 2022/23 season.
• Spanish soccer team Atletico Madrid has closed a deal with crypto exchange platform WhaleFin to become the club’s shirt sponsor for the 2022/23 season. The deal’s value is estimated at €42 million annually
• FIFA has signed a deal with Crypto.com to be an official sponsor of the FIFA World Cup Qatar 2022. As one of the fastest-increasing crypto platforms, Crypto.com already has over 10 million customers and 4,000+ employees globally
• Manchester United concluded a multi-year sponsorship deal for their training kit with blockchain brand Tezos. The club also looks to introduce new fan experiences on the Tezos blockchain.
• Aston Martin Cognizant Formula One has signed a deal with Crypto.com, allowing the crypto company to get exposure to the team’s cars in competitions

People can implement Bitcoin and alternative cryptocurrencies as payment methods. Sports bettors worldwide can now purchase tickets, while clubs can pay players’ salaries and transfer costs. Sports clubs and leading companies also utilize blockchain technologies for secure ticket exchange markets. 

Sponsorship Examples

One of the perfect examples of this practice is a Turkish football club, Harunustaspor, that became the first in the world to purchase a player with Bitcoin. Omar Faruk Kiroglu (22 years old) got 0.0524 in Bitcoin (£385) and ₺2,500 (£470) following the deal with the local club back in 2018.

Other examples are international providers of payment services, Wirex and Epayments, that allowed fans to purchase FIFA World Cup 2018 tickets with Bitcoin, Litecoin, and Ethereum. At the same time, Kaliningrad hotel Apartments Malina enabled customers to book and pay for their stay with Bitcoin.

Potential Risks

Apart from different benefits to both consumers and operators, crypto sports sponsorship brings some reputational and financial risks. You should take these things into account before any engagement in such investments: 

• Similarities to Gambling: Investing in crypto is speculative, and many consider it a form of gambling. Problem gamblers are at a higher risk as they would probably express interest in investments.
• Limited regulation: The industry is not fully regulated because cryptocurrency is still new.
• Reputation: Cryptocurrencies are often associated with financial crime. Its use on the dark web is not rare, and hacking attacks are a real threat.
• Environmental: Crypto transactions and mining new coins consume a great deal of energy, which is an environmental risk.
• Financial: Some crypto sponsors have already collapsed, and the same financial risk can affect other deals in the market.

Public Opinion on Sponsorships

Are cryptocurrencies appropriate sponsors of sports clubs based on public opinion? Many government organizations have conducted questionnaires to find out what people think about these agreements. 

According to the YouGov Direct poll from 2021, 11% of US adults believe sports sponsorships make cryptos more reliable, but a majority (58%) consider that such deals don’t bring any special credibility. However, sports fans regard these deals as more important. About 16% of NBA fans in the US are likely to believe sports sponsorship deals make crypto platforms more credible. 

Public opinion in Great Britain is similar to that in America, with 12% of adults considering that sports sponsorships legitimize crypto brands. The greatest acceptance is among Super League Rugby fans  (18%), followed by Formula 1 (15%), Premiership Rugby (14%), and Premier League fans (14%).

Interestingly, Americans and Brits believe other industries are more appropriate for sponsors. Both believe sectors like tourism, travel brands, technology, telecommunication, and automakers are a better fit than crypto sponsors.

Crypto Sports Sponsorships Benefit All Involved

One thing is sure, crypto sponsorships with leading sports betting brands benefit all parties. Crypto players take advantage of sponsorships by accessing new platforms and enjoying the integrity of products and services. 

On the other hand, sports betting companies associate themselves with crypto brands to attract new audiences and younger generations. This contributes to wider recognition and overall success. Finally, crypto brands get the opportunity to fuel customer acquisition with leading sponsorship deals hoping they would work better than alternative marketing strategies.

All in all, cryptocurrencies continue to improve the sports betting industry while boosting regular growth. With the further recognition of blockchain payments, we can expect even more deals between sports teams and crypto companies, shaping the future of both industries.