The crypto casino sector will not exist in 10 years according to the technologist and founder of FanDuel, Nigel Eccles.

Eccles, now the CEO and Founder of BetHog, explained that the sector will instead become an accepted part of the greater iGaming industry.

Speaking on the latest episode of iGaming Daily, he said: “In 10 years time the two markets are going to merge together and it’s just going to be one market. We used to talk about online commerce [but] we don’t anymore, we just talk about commerce.

“And in the same way, we won’t talk about crypto casinos anymore, we’ll just talk about casinos.”

Eccles recently detailed to SBC News his bemusement that crypto technologies and utilities continue to be misunderstood by the top ranks of the industry, with many viewing crypto as divisive and unviable for a merger with iGaming.

In this latest discussion on the topic, he outlined the benefits that crypto can have for processing payments, explaining that the costs for crypto are “close to zero” compared to costs of 15% to 30% of revenues incurred when using payment processors such as Visa and MasterCard. 

These cost savings, he added, can be “transformational” for the player experience as the reduced fees can be given “straight back to the player”.

Depending on value fluctuations, it is estimated that over $3trn of crypto assets are held by people worldwide. As a result, there is a potentially asset-rich sector of players untapped by the wider iGaming industry. 

“In online gambling, what we’re seeing is the onshore operators which could be taking crypto money, are not getting it,” explained Eccles. “Some of that money is potentially going to a black market because people who have crypto in a regulated market want to go and bet [with crypto] and they’re going to the black market.”

“So I think regulated markets are missing out in that there’s those users who have money in crypto that want to bet and they would prefer to bet with a regulated operator where they feel it’s more secure.”