Surge in Online Gambling Brings New Challenge to Crypto Betting Sites

June 29, 2020 1:58 PM UTC
The PnxBet transaction times now enable the instant deposit and withdrawal of all supported cryptocurrencies, and faster transaction times for fiat bank transfers.

Global lockdown measures in the first half of 2020, and growth in the online gaming industry, have led to a surge in new online gamers. This increase in users mirrored the growth in the interest of cryptocurrency, across multiple age groups, and geographic regions, according to a recent report by CoinMarketCap.

In addition to the events that occurred around the coronavirus-induced market crash back in March, the report highlighted two other positive trends for cryptocurrency interest. These trends specifically focused on a 46% increase in interest from young adults aged 18 to 24, and a similar 43% growth in interest from female users on its platform.

It doesn’t take a statistician to see that some of this new millennial user-base have migrated to crypto casinos and sports betting during this time. With the expectation of a considerable drop-off in traffic due to the loss of sports-betting, many betting sites welcomed this new clientele.

In addition to the pressure of subsidizing sports with an entertaining alternative, online betting sites now have a larger user-base, many of which are new to cryptocurrency. With this growth in numbers, and a clientele that are very new to crypto, sites have to focus on ease of use to retain their new user-base. Some betting sites, like sportsbook and online casino PnxBet saw this coming and invested in new alternatives to replace sports betting, like the increasingly popular eSports genre.

Instant Transactions

One of the biggest qualms of the betting site user is the difficulty of getting their funds into their accounts, and withdrawing their winnings quickly and easily. In addition to championing eSports, PnxBet has made the issue of transactions one of primary focus, launching instant crypto transactions earlier this month.

The PnxBet transaction times now enable the instant deposit and withdrawal of all supported cryptocurrencies, and faster transaction times for fiat bank transfers. The function addresses long-standing issues and makes the process of depositing or withdrawing cryptocurrencies much easier and faster for all the website’s users.

Milestones and Market Growth

PnxBet passed some notable company milestones during the first half of 2020. The company recently announced that its Asian user-base has passed 100,000, which includes the Philippines, Thailand, Vietnam, Malaysia, and CIS countries. The growth in this region has already started to bear some fruit for its users, with one player in the Philippines winning the equivalent to $300,000 on Baccarat in April 2020.

The bitcoin casino and sportsbook company also recorded impressive growth since its launch back in November 2019, with over $117 million placed in bets across its website. It wasn’t just PnxBet who has done well in this period though, gamblers on the site withdrew an impressive $42 million in winnings.

Transaction Times and Welcome Bonus

Pnxbets new transaction times allow its players to make instant bitcoin transactions, 24 hours a day, 7 days a week. The times for bank transfers have also improved, with players now able to transfer funds between 10am and 8pm GMT, Monday to Saturday. Users of the site’s E-Wallets function will also be pleased, as they can take advantage of ‘same day’ transactions, 10am and 8pm GMT, Monday to Saturday.

In addition to instant crypto transactions, Pnxbet is a site where players can expect something extra for their loyalty. Players interested in rewarding returns and bonuses can join today and claim a 75% Live Casino welcome bonus (up to $500). Once players claim their bonus first the funds will appear instantly upon deposit. Players more interested in sports betting can use the same method to claim the 100% Sportsbook Bonus (up to $100).

This is a submitted sponsored story. urges readers to conduct their own research with due diligence into the company, product or service mentioned in the content above.

Last modified: August 12, 2020 3:09 PM UTC

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