TL;DR:
The UK gambling regulator is exploring the integration of cryptocurrencies as a payment method in the regulated online betting market. Tim Miller, executive director of research and policy at the Gambling Commission, announced that the body wants to explore “the path forward” to allow crypto assets to function as a payment option for consumers at licensed gambling establishments in Great Britain. The initiative was announced during the annual meeting of the Betting and Gaming Council held in London.
Miller noted that the initiative responds to two simultaneous factors: growing demand from bettors and the advancement of the new regulatory framework that the Financial Conduct Authority (FCA) is developing for the crypto industry. Under that framework, companies carrying out activities with digital assets will be required to obtain FCA authorization under the Financial Services and Markets Act 2000. Full implementation is scheduled for October 2027. The license application period would open in September 2026.
One of Miller’s central arguments is consumer protection against illegal markets. Bets placed on unlicensed sites accounted for 9% of the gambling market in the United Kingdom, according to a Yield Sec report published in January. Across Europe, illegal platforms represented 71% of the online betting and casino market in 2024. Miller indicated that searches for cryptocurrency payment options are one of the main channels through which British bettors end up accessing illegal sites, making this measure a potential protection tool.
The official tasked the Industry Forum, an advisory group for the sector, with evaluating how to move forward on accepting crypto payments without setting a specific deadline. He clarified, however, that allowing these payments does not equate to regulating crypto casinos as such, given that those platforms are unlikely to pass the suitability and know-your-customer checks required. Around 8% of adults in the United Kingdom hold digital assets.
