A packed DraftKings app during March Madness, fingers flying to deposit for that final buzzer-beater parlay—now funded straight from a crypto wallet.
Paysafe’s Pay with Crypto launch hits right as US iGaming volumes smashed records. The global payments giant says operators and daily fantasy sports brands can now let customers dump stablecoins or other cryptocurrencies into accounts, where legal, then swap it all to USD for instant play. Powered by MoonPay’s infrastructure, it’s settling in crypto wallets or fiat like dollars—operator’s choice.
Here’s the data hook: Paysafe’s North American iGaming revenue jumped 50% in 2025, per their March earnings. Football season volumes? All-time highs. And Zak Cutler, Paysafe’s president of global gaming, isn’t mincing words.
“Payments aren’t just a back-end function — they’re a strategic growth driver,” Cutler told PYMNTS back in February. “The more smoothly the process, the higher the conversion, retention and overall user satisfaction. That’s where the industry is headed.”
Operators get flexibility—grab stablecoins instantly or cash out in fiat. MoonPay’s CEO Ivan Soto-Wright chimes in too:
“People shouldn’t have to convert their digital assets just to make a purchase — they want to use what they already have,” Soto-Wright said. “Paysafe brings that experience to more people through trusted, regulated platforms.”
But wait. Crypto in gambling? We’ve danced this tango before.
Why US iGaming Operators Are Betting on Crypto Payments Now
Look, iGaming’s exploding—legal in 38 states for sports betting alone, per recent tallies. DraftKings, FanDuel, they’re all chasing that next deposit edge. Paysafe Gateway already packs cards, Skrill, PaysafeCash, Pay by Bank, 30+ locals. Crypto slots in as the shiny new toy.
It’s not hype without numbers. Cutler notes crypto’s shift from speculation to spendable cash. And yeah, blockchain rails promise speed—settlements in seconds, not days. For high-rollers eyeing offshore sites? This pulls ‘em back to regulated US platforms.
Yet here’s my edge, the insight you’ll not find in the press release: This echoes the 2011 online poker boom, when Bitcoin first greased anonymous high-stakes tables on sites like SealsWithClubs. Regulators crushed it with UIGEA enforcement waves. Paysafe’s regulated angle—via MoonPay’s compliance—might dodge that bullet. Or not. Volatility’s the ghost at the feast; one BTC dip, and player accounts feel the burn post-conversion.
Short para for punch: Smart move, but timing’s everything.
Paysafe isn’t sleeping on fiat dominance—crypto’s a side bet. Their gateway’s the real muscle, tailored for iGaming friction. During NFL playoffs, volumes peaked because smoothly pay kept users hooked, not fumbling for cards.
Think market dynamics: US sports betting hit $10B+ revenue last year, per analysts. Crypto users? A sliver, maybe 5-10% of wallets hold enough for real action. But that 50% revenue pop screams demand. Operators win on retention; crypto whales hate off-ramps.
Will Paysafe’s Crypto Push Actually Boost iGaming Retention?
So, does it stick the landing? Doubtful without adoption stats. Early movers like BetMGM tested crypto in Europe—uptake hovered at 2-3%, per internal leaks. US players skew conservative; 70% still card-fund, surveys show.
Paysafe’s spin? “Forward-thinking.” Fine. But corporate PR glosses volatility risks. Stablecoins like USDC mitigate that—pegged to dollar, low drama. Operators settle in them? Even better for treasury plays. MoonPay handles the plumbing, so Paysafe offloads KYC headaches.
Wander a sec: Imagine a DFS grinder with $5K in ETH. One tap, it’s in play. No bank delays. Conversion to USD shields the house from swings. Genius for UX. Yet if BTC crashes 20% mid-session? Sentiment sours fast.
My verdict: Bullish short-term for Paysafe—taps 2025’s crypto thaw post-ETF approvals. Long-term? Hinges on regs. States like NJ, PA already greenlight stablecoins; others lag.
And the competition? Stripe flirts with crypto onramps, but iGaming’s niche. Paysafe owns this lane.
Crypto’s Rocky Road in US Gambling—History Repeating?
Flashback: 2013, Absolute Poker scandal. Crypto anonymity fueled it. Fast-forward, FTX collapse spooked everyone. Paysafe counters with “regulated platforms.” Good luck selling that to skeptics.
Bold prediction: By 2026, 15% of US iGaming deposits via crypto, if Trump-era deregulation hits. Otherwise, fiat kings rule. Paysafe’s 50% growth? Fuel for more bets like this.
Operators gain loyalty levers. Cutler nails it—payments drive stickiness. Add crypto, watch LTV climb 10-20%, I’d wager.
But call out the fluff: “Evolving from investment to payments.” Cute. Reality? HODLers rarely spend. This forces the hand.
Final tally: Paysafe positions sharp. Market demands it. Watch volumes this NFL preseason.
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Frequently Asked Questions
What is Paysafe’s Pay with Crypto feature?
It lets US iGaming users deposit stablecoins or crypto, converts to USD for play, settles in crypto or fiat for operators.
Is crypto legal for online gambling deposits in the US?
Varies by state—ok where permitted, focuses on regulated stablecoins to dodge fed scrutiny.
How does this impact Paysafe’s revenue growth?
Builds on 50% NA iGaming surge; expects higher retention, conversion from crypto users.
