Cryptocurrency is rapidly transitioning from a speculative investment vehicle into a functional, mainstream unit of payment. Nowhere is this shift more pronounced than in the regulated U.S. online sports betting market. According to a comprehensive research report released today by leading payments platform Paysafe (NYSE: PSFE), an overwhelming 83 per cent of U.S. sports bettors are eager to fund their online sportsbook accounts with cryptocurrency when permitted.
The report, titled All the Ways Players Pay: Crypto Edition, highlights a dramatic misalignment between consumer demand and current state regulations. While crypto ownership among active U.S. sports bettors sits at a staggering 64 per cent—more than double the American national average—operators are currently bottle-necked by a fragmented regulatory landscape.
The Current Regulatory Picture
At present, digital asset deposits are only explicitly permitted by law in two U.S. states:
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Colorado: Where 59 per cent of active bettors have already used crypto to fund a wager.
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Wyoming: Where 45 per cent of players have natively transacted with digital assets at the cashier.
Beyond these two frontiers, states like Illinois and Virginia are beginning to leverage their regulatory latitude to grant operators discrete permissions for crypto-to-cash funding options.
However, in massive jurisdictions where crypto funding remains unauthorized—including New York, Florida, New Jersey, Ohio, and Pennsylvania—the consumer appetite is boiling over. In New York alone, 92 per cent of players want the ability to make crypto deposits, with demand in Illinois and Florida following closely behind at 88 per cent.
A Top-Three Payment Preference
Should widespread regulatory approval arrive, digital assets would instantly challenge traditional payment giants. Across the surveyed markets, 45 per cent of players list cryptocurrency as a top payment preference, placing it third behind only digital wallets (55 per cent) and debit cards (50 per cent).
In highly competitive regions, the data is even more disruptive. In New York, crypto would surpass debit cards to rank second overall (54 per cent preference versus 59 per cent for digital wallets). A virtually identical layout is unfolding in Illinois, where 52 per cent of bettors favor crypto compared to 58 per cent selecting traditional wallets.
| Payment Method | Global Bettor Preference Rate |
| Digital Wallets |
55% |
| Debit Cards |
50% |
| Cryptocurrency |
45% |
| Credit Cards |
37% |
| Pay-by-Bank / Transfers |
37% |
Even with crypto in the mix, traditional payment options retain relevant market share. Alternative methods like peer-to-peer (P2P) financial apps (23 per cent) and specialized eCash solutions like PaysafeCash (14 per cent) continue to hold their ground alongside bank wires.
The Withdrawal Dilemma and Churn Risks
The next major battleground for iGaming infrastructure will be the payout experience. While no U.S. state currently permits players to withdraw their winnings directly in cryptocurrency, 85 per cent of active bettors expressed a desire for crypto cash-outs.
This desire is actively rewriting how consumers choose where to gamble. While foundational brand trust remains the top metric for selecting a new sportsbook (36 per cent), crypto payment features are almost as influential. Seamless crypto withdrawals are prioritized by 29 per cent of users, transaction flexibility by 28 per cent, and seamless deposit pipelines by 26 per cent. Furthermore, 71 per cent of players emphasize that transacting via digital assets significantly upgrades their overall betting experience.
However, Paysafe issues a stark operational warning to operators: a clunky, high-friction crypto interface will trigger immediate user churn. Economically, 71 per cent of players would abandon a sportsbook if faced with a poor transactional experience. This intolerance for friction peaks in New York, where 80 per cent would instantly switch brands, followed by Florida and Illinois at 75 per cent.
“While crypto payments are only currently permitted in a relatively modest cohort of U.S. states, our latest research indicates that there’s strong player appetite for crypto at the cashier… across the broader market,” said Zak Cutler, president of global gaming at Paysafe. “As regulation evolves and as more iGaming markets embrace digital assets’ impressive value at the cashier, we’re confident that crypto will not just become an important payment method, but arguably pivotal to the industry’s transactional future.”
About the Report
The underlying data was compiled in March 2026 by Sapio Research on behalf of Paysafe. The firm surveyed 2,550 active and high-intent online sports bettors of legal gambling age across nine regulated U.S. states.
Paysafe (NYSE: PSFE) remains a prominent payment architecture partner for the global experience economy, specializing in iGaming, digital commerce, and hospitality payments. Backed by 30 years of transactional expertise, the company handles an annualized transaction volume of $167billion and employs roughly 2,800 professionals worldwide.
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