The use of cryptocurrency for online gambling is growing at a very fast pace. This is because using cryptocurrencies such as Bitcoin and Ethereum is very popular amongst gamblers because of its anonymity. Therefore, it is only natural that the Demand for Online Bitcoin Gambling is Growing in Japan and the world.
Furthermore, the increasing popularity of cryptocurrencies has even led to companies creating their own gambling currencies. In fact, the gambling cryptocurrency market is worth over $161.83 millions with over 30,000 players using blockchain casinos every week.
Online Bitcoin Gambling is Growing in Japan Despite Lacking Online Gambling Regulations
According to the latest internet gaming news, Japan is still several years away from having online gambling regulations. However, it is not stopping Japanese bettors from playing in online casinos or offshore sportsbooks.
At the SBC Summit Barcelona Digital, a group of experts spoke about the future of gambling in Asia. Specifically, they spoke about how different products and technology for the future of the gambling industry. One of the items in the panel was about Japanese gamblers are looking for more banking options for online gambling.
According to Andrea Bellezza of KaFe Rocks, search engine data is showing a trend for Bitcoin gambling websites from Japan. Thus, she said that “Users are definitely searching on how to play and how to gamble with Bitcoin”. In addition, the interesting part of this data is that this search trend is not coming from older gamblers. It is coming from a younger generation of gamblers.
Furthermore, providers of online betting odds have seen a shift in page popularity. This is because they are seeing an upward trend in traffic to their Bitcoin sportsbooks and casinos from Japan. Of course, they are not the only one seeing an increase in Bitcoin gambling websites.
India is also seeing an increase in Bitcoin Gambling. At first it began because of the COVID-19 Pandemic. However, since there are not any real gambling regulations in India, online gaming is still going strong. Thus, alternate banking methods like Bitcoin are in large demands.