IBIA Report Highlights Crypto Payment Gap Between Illegal and Legal Bookmakers

Illegal betting websites were substantially more likely to accept cryptocurrency deposits than legal operators in research highlighted by the International Betting Integrity Association’s new report.

The first edition of The Next Bet, launched on November 10, examines digital assets, payment innovation and betting integrity, with contributions from the Malta Gaming Authority, Betsson Group and payment provider Pay4Fun. 

Crypto acceptance concentrated among illegal sites

Research published by the International Federation of Horseracing Authorities examined 100 leading betting websites between June and August 2025.

Cryptocurrency funding was available at 25 of 58 sites classified as illegal, approximately 43%, compared with two of 42 legal sites, approximately 5%. Acceptance among popular illegal sites had stood at around 25% in early 2024.

The classification considered whether operators held licences in the jurisdictions where they accepted bets and whether their activities complied with those licences. The findings concern payment availability within the sample, rather than the proportion of betting transactions conducted in cryptocurrency. 

Players prioritise withdrawal speed

Paysafe research cited in the publication highlights demand for faster payments. Its survey found that 34% selected quick and easy payouts as a leading factor when choosing a sportsbook, narrowly ahead of brand trust at 33%.

Digital wallets were a preferred payment method for 38% of respondents. The findings indicate the importance of payment convenience, without establishing that those customers specifically want cryptocurrency payments. 

Stablecoins bring opportunities and compliance risks

Betsson’s contribution explores how stablecoins could accelerate cross-border transfers and reduce costs, alongside fraud, anti-money laundering and payment intermediary risks. IBIA emphasised that adoption would depend on regulatory oversight and risk management as well as technology. 

McKinsey and Artemis estimated actual stablecoin payments at approximately $390 billion on an annualised basis using December 2025 activity. That figure covers payments across industries and should not be interpreted as gambling expenditure. 

Regulatory approaches are also evolving. Estonia’s Gambling Act, amended from January 2026, recognises crypto-assets as stakes and permits remote gambling payments through crypto-asset service providers licensed in the European Economic Area.