Regulated crypto betting is looking increasingly likely in certain markets and companies of various shapes and sizes are moving to capitalise on this prospect.

The latest to do so is GR8 Tech, the Ukraine-founded, Cyprus-based B2B betting technology firm, which has unveiled a new payments platform, Crypto Turnkey.

Crypto Turnkey supports over 15 popular cryptocurrencies including Bitcoin, Ethereum and USDT alongside KYC and responsible gaming compliance features.

Cryptocurrency has become increasingly commonplace in the betting and gaming sector internationally over the past few years, though this is somewhat of a regulatory grey area.

In some countries crypto betting is outright illegal, while in others it is neither regulated nor unregulated due to gaming legislation predating the advent and increasing adoption of crypto.

“Industry data shows crypto players deposit 35-50% more and bet with 40-60% higher frequency than traditional players,” said Denys Parkhomenko, CPO at GR8 Tech. 

“The operators winning their markets are the ones acting on that data now, not waiting. We built Crypto Turnkey to make that move simple.”

While crypto betting is still a regulatory uncertain area, there have been some developments in the international iGaming space which have prompted some stakeholders to start prospecting.

Estonia, for example, is trying to position itself as a gaming hub to rival those of Malta, the Isle of Man and Gibraltar – and the legislation around this has touched on crypto.

Some stakeholders, like Yolo Group, project that Estonia could become a launchpad for regulated crypto betting under the EU’s Markets in Crypto Assets (MiCA) regulations.

Other stakeholders, like the leadership of Betsson Group, have also taken note of the potential for crypto to be welcomed as a form of payment for betting, within EU MiCA regulations, at some point over the coming years.

GR8 Tech is taking its Crypto Turnkey payments platform live globally, targeting both new and existing clients. The platform sits alongside other GR8 Tech products and solutions including AI personalisation, CRM tools and sports margin management.