What can crypto players expect in 2024? The key trends shaping the market

The crypto gaming market has established itself as one of the most significant and rapidly growing segments within the gaming industry. The market is expected to reach almost $300 billion by the end of 2030, with an annual growth rate of around 68% compared to current figures.

At the same time, the use of cryptocurrencies for gambling has also established itself as one of the most dominant uses of the increasingly popular digital assets, creating an ever-increasing room for growth in crypto gambling.

As of now, most online gambling platforms and casinos - both in Norway and internationally - are working to adapt their features and operations to embrace cryptocurrencies. They're doing this to capitalise on the growing trend of more and more people using crypto. Nowadays, it's quite rare to find a betting site (https://bookiesnorge.tv/) that doesn't offer some form of crypto gambling features or crypto payment options.

This is no surprise, considering that Norway, along with other countries in Europe, is actually using more and more crypto on a daily basis. This is due to the high degree of technology literacy, digital skills and of course the availability of the necessary infrastructure and government support.

The crypto gaming market is expected to expand further in 2024, also for Norwegian casinos. The increase in cryptocurrency is expected to lead to more casinos and online betting sites becoming part of the crypto ecosystem. This could happen either by adding more operators to the already long list of sites that accept digital currency transactions, or by increasing the number of crypto-based gambling platforms.

Thus, crypto gamblers will have more options for their gambling activities. And more options means more opportunities to find what they're looking for and more chances to access more exciting experiences. As the market becomes more crowded, every reliable online casino or Norwegian bookmaker will compete for a larger share and make more investments to satisfy their users. Ultimately, it is believed that the real gains from fiercer competition will largely benefit customers.

In addition to more crypto betting options, players should also expect growth in eSports betting. While there is a clear difference between eSports betting and crypto betting, it's pretty clear that they are not independent. The growth of eSports betting is fuelled by the growth of cryptocurrency, and of course by the growth of crypto gambling. So, as crypto gambling is expected to increase further this year, betting on eSports will do the same, especially since a large portion of cryptos are used in competitive gaming and also because the main eSports players are also the main crypto users. Studies show that eSports bettors and crypto users generally share the same demographic characteristics and we're talking about roughly the same target audience. That's why it's important for bookies in Norway to join the crypto wave.

Expect crypto players to move deeper into the world of non-refundable tokens (NFTs), which will be used more intensively by casinos and gambling platforms in the future. NFTs are expected to create new and unrivalled value for users by enhancing the gaming experience, introducing new features to games and providing unique opportunities for ownership of game items. There is also a crossover between cryptocurrencies and eSports here, leading to the emergence of NFTs in gambling. But for the most part, it will be casino games that will benefit the most from this.

In addition to all of this, crypto gamblers should also expect regulations to tighten from now on, most likely from 2024. Cryptocurrencies are already making their way towards regulation in many countries around the world, but what will change in the very near future is the crypto gambling industry. It is most likely that crypto gambling sites will fall under conditions where they will have to obtain licences and permits for legitimate operations if crypto gambling is to continue its growing and upward trend. This will put things in a new perspective, making gambling sites offering crypto and casinos more secure and also more responsible towards their users.