iGaming is changing with great influence from cryptocurrencies

The tech and financial industry has celebrated crypto as a revolutionary payment system that can innovate how businesses are conducted. One of the first to jump into adopting it is the iGaming industry, and it has developed tremendously following unexpected trends. You can collect them, earn them through grinding, or even bet using crypto and win net profit.

Idea of ‘virtual money’ in gaming before crypto

The thought of using digital currency in gaming has been around since the early years, called the ‘premium currency’. It is named as such because you can buy them using real-world money (like using credit cards or bank transfers). This currency can be used to pay for items that you cannot buy using resources you can earn by completing tasks. 

The most well-known titles that used this system were RuneScape (RS) and World of Warcraft (WoW). Premium currencies can be earned in-game, but usually through a time-consuming process. Some gamers dedicate their time farming these premium currencies and then sell them, usually at a cheaper rate than what the developers charge.

Eventually, a thriving economy of virtual money trading emerged in video games. One half of the population mines the premium currency, and the other half buys it to enjoy the game. None of these are legitimate businesses, however, and the game developers tried to stop them. No businesses are licensed, and iGaming brand protection @ https://qwertylabs.io/blog/brand-intellectual-property-protecting-online-casino-brand-ip/ wasn’t needed. 

How did crypto and iGaming evolve together?

Crypto was first introduced when Bitcoin (BTC) was launched in 2009. It was presented as a ‘future alternative to modern banking’ and it slowly gained popularity over time. BTC is traded between hobbyists who aren’t taking the virtual asset seriously because 1 unit is worth almost nothing. There was a time when you’d need thousands to make it worth $1.

Over time, the number of users grows and adoption spreads outside of the niche population of hobbyists. What was once used to trade for collectable cards spread towards other recreational uses, like the first Bitcoin Poker launched in 2010, hosted by Switch Poker. 

Crypto gambling was a hit, but the adoption of the digital asset was slow. The first ever licensed Bitcoin casino was Bitcasino in 2014, and more brands followed its blueprint. 

Crypto iGaming world as you know it

A quick look at online casinos and sportsbooks can tell you everything you need to know about present-day iGaming. It’s a thriving industry with brands like Bitcasino and Sportsbet.io among the most talked-about sites. If you ever wish to place crypto bets, these are only some of the top platforms you can easily access.

These platforms aren’t done reaching out to online gamblers. Each brand consistently markets its services digitally through outreach, influencer marketing, and search engine optimisation (SEO). There is even a thriving industry of agencies offering iGaming SEO services @ https://qwertylabs.io/igaming-seo/ to help gambling brands connect with you, the target audience.

The rise of crypto in iGaming shows no signs of slowing down. As more users embrace decentralised finance and seek out faster, borderless payments, online casinos and sportsbooks will continue to evolve. Whether you're a casual gamer, a crypto enthusiast, or a newcomer to both, the merging of these two worlds is reshaping how you pay online