Paysafe has published research showing that 83% of US bettors want to use cryptocurrency to fund wagers with online sportsbooks.
The findings come from Paysafe's All the Ways Players Pay: Crypto Edition report. The study surveyed bettors across several US states, including those where crypto deposits are not yet permitted (Florida, New Jersey, New York, Ohio, and Pennsylvania) as well as Illinois and Virginia, where regulators can grant operators specific permission for crypto-to-cash funding products.
In addition, the report also covered Colorado and Wyoming, the two states that explicitly permit crypto deposits, where 59% and 45% of bettors, respectively, have already funded a bet using a digital asset.
With 64% of active US bettors already owning cryptocurrency, demand for crypto deposits would likely rise further across states where regulatory frameworks allow it. Appetite is particularly pronounced in New York, where 92% of bettors expressed interest in crypto deposits, followed by Illinois and Florida, both at 88%.
Crypto as a top-tier payment method
When permitted, crypto would rank among the top three preferred payment methods for funding wagers. Some 45% of bettors listed it as a preference, behind digital wallets (55%) and debit cards (50%). In New York, crypto would rank second only to digital wallets, 54% versus 59%.
Despite this appetite, other payment methods would retain relevance. Credit cards and pay-by-bank solutions were each cited as a preference by 37% of bettors, even in a scenario where crypto was available. Local payment methods such as peer-to-peer apps were still preferred by 23% of respondents, with eCash solutions (including Paysafe's own PaysafeCash) cited by 14%.
Interest in crypto extends beyond deposits. Some 85% of bettors indicated they would want to withdraw winnings in cryptocurrency, a feature not yet permitted in any US state.
Implications for operator strategy
The research points to a direct connection between crypto payment support and sportsbook selection. While brand trust was the leading factor in choosing a sportsbook (cited by 36% of respondents), crypto-related considerations ranked closely behind: seamless crypto withdrawals (29%), the ability to transact with preferred payment methods including crypto (28%), and seamless crypto deposits (26%).
Retention is also at stake. Seven out of ten bettors (71%) said transacting with digital assets would improve their overall betting experience. However, the same proportion indicated they would be likely to leave a sportsbook following a poor crypto transaction experience, with the figure rising to 80% among New York bettors and 75% in both Florida and Illinois.
Moreover, the findings carry broader strategic relevance at a time when US states are at different stages of digital asset regulation. As more jurisdictions consider frameworks for crypto within iGaming, the data suggests that payment infrastructure decisions will carry increasing weight in competitive differentiation among sportsbook operators.
