Cryptocurrency casinos have continued to gain momentum heading into 2025, as more players shift towards this innovative approach to casino gaming. Estimates of the size of the iGaming industry as a whole are vague, but one report valued it at $63.53 billion in 2022, with an expected forecast of growth to nearly $140 billion by 2030. The report cites blockchain gaming and cryptocurrency as one of the drivers of this growth.


Some online casinos have been quick off the mark when it comes to offering cryptocurrency as a transaction method, either alongside traditional banking or, as is the case with crypto casinos, exclusively as the only way to deposit and withdraw.


While offering alternative payment methods is certainly a welcome change, that’s really just the beginning of what blockchain technology can bring to the tables. An online casino revolution is in the air, one that sees blockchain at the forefront of fair gaming.


Cryptocurrency payment options


For anyone who trades, stores or spends cryptocurrency, having the option as a payment method is always going to be appealing. It’s a way to utilize coins and tokens that might otherwise sit gathering digital dust.


The benefits of crypto as a payment method don’t stop there, though. Transaction times are lower, usually near-instant, and transaction fees typically cost less. Issues like bounce backs and fraud are also drastically reduced, which can save both players and the casino platform a lot of hassle.


Given the lower costs of processing crypto transactions, these savings can be passed on to players, at least in part, in the form of bonuses.


At the cryptocurrency casino Mbit, players can get 100 free spins on first deposit, along with a deposit match bonus worth up to 1BTC. Further bonuses are also available on second and third crypto deposits, rewarding players who return to the site.


As with all online casinos, it’s important to check the terms and conditions of crypto bonuses, which are subject to wagering requirements.


Despite the increase in availability over recent years, crypto casinos still face several hurdles before they are likely to be adopted in the mainstream of the industry. In the future though, it’s likely industry leaders will dip their toes in the water or make the leap entirely into crypto and blockchain.


Ensuring randomness with RNGs


As it stands, most online crypto casinos have focused their efforts on providing cryptocurrency transaction methods, which are verified on the blockchain. This makes which deposits and withdrawals safe and secure, without the need for an intermediary organisation, i.e. the bank.


Blockchain also has the potential to cut out middlemen when it comes to game randomness and fairness.


Currently, traditional online casinos use random number generators (RNGs) to ensure their games are fair. These algorithms generate seeds and outcomes based on the given odds. RNGs used by licensed casinos are then independently verified by organisations like eCOGRA.


It would be unfair to claim that traditional online casinos are unsafe or unfair. As long as the RNGs are properly programmed and verified, players can be confident they are in good hands.


Having said that, it’s impossible for players themselves to check the randomness or fairness of RNGs. Instead, they have to rely a lot on trust, verification badges and stamps of approval.


Blockchain technology can take game fairness a step further by making it provable, fully transparent and verifiable by the players.


Provable fairness with Blockchain technology


Blockchain technology offers the full package of solutions when it comes to game fairness. The randomness of games is recorded on an immutable ledger that can’t be tampered with and is fully transparent.


With Blockchain, random seeds are generated before and during betting. Encrypted seeds can then be sent to the player as a commitment by the casino, a kind of receipt for the bet. The outcome is then generated from the seed and shown to the player.


Once bets are settled, the original seed is revealed and from this players can check and validate outcomes. This takes technical know-how, or the use of software, but the fact that it’s possible adds security and a fairness that the gaming community as a whole can prove.


When it comes to the actual seed generation, blockchain decentralises the process of randomness. The seed can be generated collectively from multiple nodes, or, alternatively, the properties of a newly mined block can be used to give a true, entropic randomness, rather than the pseudo-randomness of normal RNGs.


Peer-generated seeds can be stored, traced and checked by the community, as can any and all outcomes of bets. So, blockchain really can give online casinos a fully transparent system for randomness and fairness.

Better still, it can all be automated.


Smart contracts for betting


Smart contracts are self executing programs that can automate the whole process of blockchain transactions, game outcomes and payouts.


The contracts are a digital agreement that is automatically fulfilled when the conditions are met. In simple terms, if a bet is placed and wins, the smart contract will payout according to the agreed odds and prizes.


The winnings from any game will be paid directly and automatically using smart contracts, while every detail of the transaction, from seed generation to bets and payouts, is recorded on the blockchain.


Smart contracts guarantee full transparency, randomness and fairness. For the platform, utilizing blockchain technology can build trust, as well as save on resources and processes that can be given back to the player in the form of bonuses.


As more online casinos look to adopt cryptocurrency transactions, it becomes clear that the true value is not just in providing alternative payment methods, but also in creating a revolution when it comes to fair play.