Cryptocurrency’s Surge in Gambling: Insights From Polish Gamblers
The Polish gambling industry is one of the largest in the world. According to the latest
statistics, thanks to rapid online casino adoption in the Central European nation, its entire
gambling sector reached a turnover value of PLN 43.4 billion in 2023. But what is spurring
this growth? It goes beyond just Polish players’ appetite to play gambling games whenever
they want to wind down or kill time. Instead, from the look of things, the secret is how the
country has embraced technological advancements in the gambling scene.
Following amendments to the Polish Gambling Act in 2017, the country has taken
systematic steps that have seen its gambling sector live up to its tremendous potential.
Besides proper internet gambling regulation, embracing cryptocurrency in the Polish
gambling industry is one of the driving factors for the growth spurt. So, although the
dynamic duo (crypto and gambling) has endured copious amounts of scrutiny from the
public, it’s a formidable partnership that has seen tremendous growth in the last couple of
years. Today, we dive deeper into how and why cryptocurrency is becoming more popular
among gamblers in the largest economy of Central Europe.
A New Age of Gambling
It’s fair to say that the COVID-19 pandemic left a lot of damage in its wake. Nonetheless, in
every crisis, there’s always an industry that generates tons of profit in the process. So,
during the pandemic period, iGaming recorded incredible leaps and expanded more than
ever before as land-based gambling suffered due to forced shutdowns.
By the time land-based gaming came back into the picture after the pandemic dust settled,
iGaming was hitting new highs that hadn’t been previously recorded. Now, with
cryptocurrency integration into online gambling, an exciting new layer of innovation has led
to the surge of crypto casinos in Poland.
The Rise of Crypto Casinos in Poland
Poland previously had some of the most stringent gaming laws in Europe. However, the laws
were gradually eased following exhaustive legislative considerations so that Polish gamblers
could enjoy the perks that come with internet gambling. With proper regulation, globally
recognized industry players take notice, and many pitched camp in the Central European
country.
Of course, given that Poland is a progressive nation that’s always at the front line of
embracing new technology, when cryptocurrency went mainstream, gamblers in the
country warmly received it. For many Polish players, the move to crypto casinos has been
compelled by various advantages:
Security– Crypto transactions ensure your financial and personal data is never
compromised. The usage of crypto has also minimized the vulnerability of repeatedly
sharing card and banking details on the web, where many cyber criminals are
prowling for their next victim.
Transaction Fees– Seeing as there isn’t any intermediary in crypto transactions,
crypto casinos charge minimal transaction fees compared to the charges associated
with fiat currencies.
Anonymity– The element of anonymity in crypto casinos is tied to security, as the
transactions use pseudonyms rather than information that could reveal your
identity. All you need to conduct a crypto transaction is your wallet address, denoted
by a string of coded characters.
Bonuses– As a reward for using crypto instead of other banking methods, many
crypto casinos have incentivized the move by offering more lucrative bonuses to
their players.
Certainly, Polish players are not the only beneficiaries of the rise of crypto into gambling.
The iGaming operators are also seeing the perks that include:
Faster transactions– Ideally, as an operator, you want the players on your platform to have a seamless gaming experience. Part of it involves providing comfort with faster deposit and withdrawal times. Luckily for operators, crypto transactions are almost instant and improve the site’s overall cash flow.
- Security– Crypto sites also benefit from top-notch security in handling crypto.
Besides the excellent reputation it brings, there’s also peace of mind in knowing your
players’ financial and personal details cannot be compromised. - Increased traffic– As we’ve mentioned, many Polish players are embracing crypto as
the in-thing today, which has significantly boosted numbers for the crypto casino
sites.
Building Trust Among the Polish Population
As you can imagine, it is no mean fete for the crypto casinos to break through to their
potential customers. Many people tend to distrust what they are not familiar with. So,
initially, many people were not familiar with the concept of cryptocurrencies and whether
the mode of payment could be trusted to move money in and out of online casinos.
Fortunately, crypto casinos have been taking the initiative to educate gamblers about the
decentralization aspect of cryptos. Now, Polish players understand that digital currencies
bring a new layer of trust as there is transparency through public ledgers and tamper-proof
transactions via smart contracts.
The Future of Internet Gambling is Here
The future of online gambling is slowly being redefined as we speak, and Polish gamblers
aren’t the only ones experiencing the evolution. Crypto is increasingly playing a vital role in
gambling industries across the globe. From decentralized trust to the rise of crypto
payments to the incorporation of NFTs, the new era of gambling is exciting, to say the least.
The grand stage for an epic iGaming feature is already set, and so if you are into internet
gambling, you shouldn’t hesitate to join the crypto-gambling evolution.