Why Does Cryptocurrency Take The Blame for Illegal Gambling?

A recent report by Swiss-based company Sportradar has revealed that while instances of match-fixing in the world of online sports betting was down over the last five years, ostensibly due to key figures in high profile cases being sent to prison or their activities otherwise curbed, there has been a spike in another crucial data point.

That being that there is an increasing tendency for those to make illegal betting activities using cryptocurrency as their choice of payment method.

This has been driven by two factors, the increasing availability of cryptocurrency payment services and the fact that betting amounts in illegal gambling have tended to show an upward increase and cryptocurrency is, arguably, one of the easiest forms of payments to use when making big bets that you do not want to be noticed for.

$400 Billion

How big is the scale of the problem? A recent study by Berlin-based Transparency International showed that in Asia alone, the illegal gambling market was calculated to…