For more than a decade, card payments have underpinned most iGaming transactions. Visa and Mastercard deposits offered familiarity for players and broad coverage for operators, making them the default method for funding accounts and processing withdrawals. As iGaming has expanded across jurisdictions, however, card-based systems have shown clear limitations. Processing costs remain high, dispute exposure continues to rise, approval rates vary by market, and withdrawal timelines often fall short of player expectations.
The payments environment has shifted. Operators increasingly rely on multiple rails rather than a single method to support growth. Card payments remain part of the mix, but they are now supplemented by open banking, local payment methods, and cryptocurrency-based options. Crypto payments, once limited to a narrow group of users, are now being adopted to address recurring operational constraints, particularly in cross-border activity and higher-risk markets.
Payments now influence conversion, retention, liquidity planning, and regulatory posture. Crypto and stablecoins, when integrated through regulated gateways, are increasingly used to support faster settlement, reduce dispute exposure, and improve payment reliability without replacing existing systems.
XCoinsPay works with regulated iGaming operators navigating this shift, providing crypto payment processing aligned with compliance requirements and established payment operations.
Card networks remain widely used, but they were not designed for the operational realities of regulated online gambling. Cost structure, dispute mechanics, and settlement timing introduce friction that becomes more pronounced as volumes scale.
Card acceptance represents a recurring cost that increases directly with wagering volume. In the United States, total merchant card processing fees reached $187.2 billion in 2024, with average Visa and Mastercard fees commonly cited at approximately 2.35% per transaction. For margin-sensitive sectors such as iGaming, these costs accumulate quickly.
In Europe, interchange caps apply to EU-issued consumer cards, but cross-border and non-EEA transactions often attract higher fees. Non-EEA online card fee caps of 1.5% for credit cards and 1.15% for debit cards have been extended through November 2029, maintaining higher cost exposure for international operators.
These fees combine with PSP markups, fraud tooling, and risk pricing, reducing available budget for bonuses, retention mechanics, and player incentives.
Card payments allow reversals. In iGaming, this mechanism generates direct losses and ongoing administrative overhead.
Global chargebacks are projected to reach 261 million in 2025, rising to 324 million by 2028, with total chargeback value expected to exceed $41 billion. Gambling and gaming services are consistently classified as higher-risk categories, with average chargeback values reported around $110 per case in U.S. merchant samples.
Beyond the disputed amount, elevated chargeback ratios often lead to higher processing costs, monitoring programs, and account restrictions.
Even licensed operators experience inconsistent card acceptance. Gambling transactions are commonly tagged under MCC 7995, which many issuers treat conservatively.
Higher decline rates are driven by fraud concerns, regulatory exposure, and enforcement pressure related to unlicensed gambling. Some acquiring banks limit or avoid the sector entirely. In cross-border scenarios, issuer decisioning becomes more restrictive.
Declines disrupt onboarding, increase support volume, and frequently push players toward alternative payment methods after a failed attempt.
While card authorisations are near-instant, settlement is not. Many payout configurations operate on T+1 or T+2 schedules and are affected by weekends and holidays.
Delayed or uncertain payouts directly affect withdrawal satisfaction and player confidence, particularly in markets where fast payouts are expected.
Crypto payment rails operate differently from card networks. Transfers occur continuously, without banking cut-offs or correspondent intermediaries, aligning more closely with iGaming’s cross-border and time-sensitive payment needs.
Crypto transfers operate on a 24/7 basis. Settlement does not depend on banking hours or regional clearing systems.
Stablecoin transaction volumes now operate at payment-infrastructure scale, supporting real-time value transfer across jurisdictions. For operators managing international player bases, this reduces reliance on banking calendars and intermediary routing.
Crypto transaction costs vary by network and provider but generally avoid percentage-based interchange fees.
Typical credit card fees range between 1.1% and 3.5%, while stablecoin and blockchain-based transactions commonly fall between 0.01% and 1.0%, depending on network and processing layer. For cross-border transfers, stablecoin-based rails are consistently cheaper than traditional remittance routes.
Onchain transfers are generally irreversible. This removes the traditional chargeback mechanism that contributes to card-related losses in iGaming.
Fraud risk remains, but the absence of automatic reversals limits dispute volume and shifts risk management toward screening, monitoring, and transaction controls rather than post-transaction recovery.
Player payment preferences reflect both availability and behaviour.
Industry research shows crypto adoption contributing to growth in new markets, particularly where card coverage is limited or unreliable. Younger, crypto-aware demographics also show significantly higher overlap between digital asset ownership and online gambling activity.
For operators, crypto functions both as a fallback when cards fail and as a preferred option for certain player segments.
Players use different assets based on familiarity, fees, and exposure preferences. Operator data shows consistent usage patterns alongside a shift toward stability.
Bitcoin, Ethereum, Litecoin, Tether (USDT), and Dogecoin remain the most commonly used cryptocurrencies in iGaming. Altcoins now account for nearly half of crypto wagering volume, while Bitcoin’s share has declined as operators and players prioritise predictability.
Bitcoin remains widely held and recognised, accounting for roughly 60% of total crypto-asset market share in mid-2025.
In iGaming, Bitcoin price movements influence wagering behaviour. Higher prices have coincided with larger average bet sizes and lower transaction frequency, reinforcing the need for clear treasury and conversion controls.
Ethereum supports a broad ecosystem of tokens, including most stablecoins.
ETH usage in iGaming has increased, though mainnet fees can introduce friction. Operators increasingly rely on lower-cost networks when supporting ERC-20 assets.
Stablecoins have become the preferred settlement asset for many operators. Fiat-backed stablecoin supply exceeded $219 billion by April 2025, with transaction volumes reaching $5.7 trillion in 2024.
USDT usage within iGaming increased materially during 2024, reflecting preference for reduced volatility and predictable settlement value.
Network choice affects speed and fees.
Ethereum’s Dencun upgrade (EIP-4844) reduced data costs for rollups, improving Layer-2 efficiency. These networks support smoother stablecoin deposits and withdrawals, particularly for smaller transactions.
Direct wallet handling introduces operational risk. Purpose-built gateways manage player experience, compliance, and reporting within a single framework.
Effective gateways support hosted checkout, wallet deep-linking, clear network selection, confirmation tracking, and amount-locking mechanisms. These features reduce errors and abandonment, particularly on mobile devices.
Global implementation of crypto AML standards remains uneven. As of 2025, fewer than one-third of assessed jurisdictions are considered largely compliant with virtual asset requirements.
Gateways centralise KYC workflows, blockchain monitoring, sanctions screening, and Travel Rule support, allowing operators to apply consistent controls across fiat and crypto payments.
Gateways automate attribution, ledger exports, and rules-based settlement, reducing unidentified deposits and manual reconciliation effort.
Most operators continue to report in fiat. Gateways provide convert-on-receipt, partial conversion, and stablecoin treasury models.
EU regulatory frameworks, including MiCA, have increased expectations around reporting, custody, and transparency, reinforcing the need for structured conversion and record-keeping.
Operator reporting shows measurable changes following crypto integration.
During 2024, crypto wagering volume increased 18.7%, while transaction count declined 12.8%, resulting in higher average bet size and fewer payment events to reconcile.
Player research shows:
Crypto casino gross gaming revenue reached $81.4 billion in 2024, representing a fivefold increase since 2022.
Industry surveys indicate that stablecoins and alternative payment methods are expected to shape payment stacks through 2026–2027, alongside open banking and local payment options.
Volatility, fragmented regulation, player education, and integration complexity remain relevant.
Bitcoin volatility averaged around 40% during 2024, highlighting the importance of treasury controls and conversion logic.
Operators report recurring challenges related to launch timelines and reporting reliability.
Effective crypto integration typically includes:
Crypto adoption in iGaming reflects operational need rather than experimentation. Faster settlement, lower processing costs, reduced dispute exposure, and broader payment choice address persistent constraints in card-based systems.
As regulatory frameworks mature, disciplined implementation through compliant gateways has become essential. Payments now influence conversion, retention, liquidity, and regulatory positioning.
For operators assessing crypto payment infrastructure built specifically for iGaming, working with providers that combine regulated onboarding, settlement control, and operational transparency has become a practical next step. XCoinsPay supports licensed operators across deposits, withdrawals, and cross-border payment flows within this framework.
CF Technologies Ltd, Company Registration Number C-87860 (the ‘Company’) is licensed by the Malta Financial Services Authority (MFSA), License No: VFA/10. The Company is a holder of a Class 3 VFAA License authorised to provide Virtual Financial Assets services in terms of the Virtual Financial Assets Act, 2018. XCoinsPay is property of CF Technologies Ltd. All trademarks and copyrights belong to their respective owners. All rights reserved.
