The global crypto betting market is growing exponentially, as more bettors switch from traditional online betting to the increased privacy and ultra-modern offerings of crypto betting platforms. What the industry is also seeing is a generation of new, tech-savvy bettors who are going straight to crypto betting platforms to start their journey.
The crypto betting industry is valued at around $250 million, an incredible increase from $50 million in 2019, highlighting the speed at which this sector is moving. Interestingly, 60% of users on crypto betting platforms are aged between 18 and 35, whereas for traditional online betting platforms, user ages are spread quite evenly across the different age ranges.
Why Young Players Are Dominating the Crypto Betting Domain
For some people, the crypto world is a bit like Narnia, a mythical land that they don’t believe in. Generations of people who have only used cash for making purchases and didn’t grow up with mobile phones are generally not as tech-savvy as the Gen Zs, who are digital natives.
The fear of the unknown prevents many people from opening the door to the crypto dimension, while those born into the digital era have no concerns about exploring new digital boundaries. That said, there are exceptions to the trends, but broadly speaking, there’s a noticeable gulf in tech adoption between younger and older age groups.
Digital-savvy generations have greater awareness of the benefits of using crypto, and they understand the wide-ranging risks of cyber threats, so they take actions to protect themselves online. What crypto betting platforms offer aligns with their priorities. For example:
- Enhanced security
- Lower transaction fees
- Faster withdrawals and transactions
- Global accessibility without restrictions
- Provably fair gaming
- Modern game designs and interfaces
- Anonymity
- Fast set-up processes, often avoiding Know Your Customer processes
- AI-driven gaming experiences
In addition to these benefits of using crypto betting platforms, bettors can also leverage improved bonuses and rewards that are exclusively offered at crypto betting platforms. Take a look at blockchainwelt.de, for example, where you can see Glitch Spin is offering a staggering 410% deposit match. There are even several others offering 300% matches.
This is significantly more generous than the welcome bonuses offered by some traditional online betting platforms, which typically range from 100% to 150%. Digitally savvy players are also savvy with their finances, so finding betting platforms that make their money go further is a big priority.
As expected, Bitcoin and other crypto betting platforms are also leading the betting industry in terms of innovations, so bettors looking for integrations with the latest tech are more likely to find these gaming options on crypto betting sites.
Metaverse betting platforms bring users closer to the real-life experience without leaving their homes. The VR-driven experience is a virtual space with 3D human avatars who can walk around the floor, sit down at tables, pull the levers on slots, and have friendly chat with other players.
Despite regulatory complexities, the crypto betting industry is expanding rapidly, and this will continue as more bettors start to explore the many benefits it offers.
