The emerging adoption in cryptocurrency transactions across several igaming markets has opened up opportunities for both operators and players. Crypto payments offer players greater flexibility and provide operators with access to a wider, global customer base.
Integrating crypto payments into a sportsbook or online casino requires a tailored approach. Unlike traditional payment methods, crypto transactions operate on decentralised networks, require real-time conversion solutions, and involve managing digital asset flows efficiently. With the right infrastructure, operators can offer seamless, secure, and scalable payment options to their users.
Elton Dimech, Managing Director at Payhound, a company seeking to help operators amongst other industries, implement crypto payments into their platforms, says that the company’s solutions can help to reduce volatility risks and operational complexities.
Dimech said: “Key features include secure crypto-to-fiat settlements, real-time fiat conversion, and cross-border remittance solutions. Payhound also supports C2B crypto payments, enabling global crypto deposits and withdrawals. Automated invoicing and channel deposit flows streamline payment processing, enhancing operational efficiency and user experience.
“These features allow clients to manage their financial transactions more efficiently, reduce costs, and expand into new markets without currency conversion delays or compliance concerns. Payhound’s API integration also ensures a seamless adoption process with existing systems.”
The company provides a blockchain-powered crypto-to-fiat transaction service, which Dimech noted is the ideal solution for high-volume industries such as igaming. The Payhound platform also allows operators to transfer the crypto payments and exchange it for fiat currency, helping partners to reduce risk.
User experience and reducing friction is essential to the use of crypto in igaming, Dimech asserts. He adds that Payhound allows a simpler experience due to several aspects of its platform.
“Our invoicing and instant conversion features enhance financial operations and improve user experiences. The Invoicing Deposit Flow generates fixed-rate crypto invoices, locking exchange rates to provide transparent and predictable transactions. This is particularly useful for businesses looking to avoid market volatility and maintain consistent pricing.
“These features streamline payment processes, reduce manual errors and enhance operational efficiency. For players, the invoicing system provides a straightforward payment experience, while instant conversions ensure quick and secure transactions, improving overall satisfaction and engagement.”
According to Blokonomi, the crypto igaming market grew at a CAGR rate of 38% between 2019 and 2024, reaching around $250m by the end of last year. This growth is expected to continue, with the crypto igaming space set to be worth around $400m by the end of 2028.
Political events such as elections, geopolitical conflicts, and policy changes can trigger significant fluctuations in cryptocurrency markets. Such regulatory discussions and particular institutional interest may help to drive the adoption of crypto payments forward.
All of this means that firms will need to be in a position to use these types of payments. Payhound, Dimech outlined, is in a perfect position to be the partner of choice in this regard.
He explained: “Payhound is built on a scalable and secure technological infrastructure capable of handling high-volume transactions with efficiency and stability. With its ISO27001-certified infrastructure and seamless API integration, Payhound simplifies crypto adoption for iGaming operators without disrupting existing workflows. Its architecture is designed to support dynamic industries like iGaming and luxury goods, where transaction volumes are usually high.”
“The platform’s API integration allows seamless adoption without disrupting existing systems. Payhound also ensures compliance with EU AML and KYC standards.”
Payhound has identified this increasing crypto adoption and ultimately, this sits at the heart of its operations. The firm’s mission statement is to “make transacting with crypto as easy, secure and transparent as dealing with fiat currency, with the added benefit of improving customer experience by leveraging newly available technology”.
The company’s MD is confident that its technology solutions put it in the best position to fulfil its statement and place it at the heart of increased crypto adoption in iGaming.
“We simplify crypto payments by automating complex payment processes and providing a user experience similar to traditional banking. Our instant conversion feature automatically converts cryptocurrency to fiat at the spot rate, reducing volatility risks and maintaining liquidity without the need for manual management of digital assets.”
The Payhound platform use cases go beyond simply processing transactions from crypto into fiat. The firm points to crypto’s ability to effectively process cross-border transactions, making international payments a simpler process, whilst also avoiding currency exchange delays.
The firm’s B2B solution supports instant, secure and low-cost payments, which it argues is ideal for payments such as affiliate payments, provider settlements and other similar international payments.
