Betting technology company GR8 Tech views the World Cup as an ideal opportunity for betting companies to connect with crypto enthusiasts.
The Ukraine-founded, Cyprus-based company has launched a series of upgrades to its platform to make crypto more accessible and commercially effective for major sports events.
This includes changes to fiat-to-crypto onboarding, on-chain intelligence and wallet connectivity, with GR8 Tech aiming to remove barriers for new users.
The firm is confident that ‘crypto promises faster payments, broader reach, and higher value players’ for betting companies – though it has to be said that the regulatory picture around crypto betting is a little greyer.
“Right now, most platforms discover their best crypto players too late—after the window to engage them properly has already closed,” said Olga Karablina, Chief Payment Gateway Officer at GR8 Tech.
“We’re changing that. When operators can identify value at the first interaction and remove friction at the point of payment, they stop reacting to crypto players and start controlling their value.”
GR8 Tech preps for World Cup
The World Cup’s potential for customer acquisition is widely recognised. The tournament attracts a huge range of bettors, including many who rarely wager, while patriotic punting is also a common behaviour.
This gives operators a big chance to secure customers from their competitors. With crypto users, GR8 Tech believes that annual transfers, copied addresses, and app switching can slow down a journey.
The firm wants to make this process simpler. These upgrades are just the latest in a series of enhancements the company has made ahead of the World Cup, including expansions to its sportsbook and casino propositions.
It is also certainly true that crypto betting has become more and more popular in recent years, in line with the more widespread adoption of crypto as an investment asset and payment method.
Crypto gambling is still somewhat of a regulatory grey area across many markets, however, though there are signs that this may change. Estonia has been earmarked by some as a potential focal point for the future of regulated crypto gambling.
