UK Gambling Watchdog Explores Crypto Payments for Betting

Gambling Commission Eyes Crypto to Combat Illegal Markets

The UK's Gambling Commission is actively exploring how to permit cryptocurrencies as a payment method for licensed online casinos. Tim Miller, the commission's executive director for research and policy, announced the initiative at the Betting and Gaming Council's annual general meeting in London. The regulator has tasked an industry advisory group with mapping out a potential path forward, driven by what Miller described as a "growing appetite" from consumers. A key motivation is consumer protection, as the commission's research indicates that "crypto" is a primary search term leading British gamblers to illegal, unregulated websites. By integrating digital assets into the licensed ecosystem, regulators aim to provide a safer environment for users.

And that, as well as the growing appetite we see from punters, means we do now want to start looking at what the potential path forward would be to create a way for cryptoasset to be used as a consumer payment option for licensed and regulated gambling in Great Britain.

— Tim Miller, Executive Director, UK Gambling Commission.

FCA Sets October 2027 Deadline for New Crypto Regime

The potential use of crypto in betting is dependent on a wider regulatory overhaul led by the Financial Conduct Authority (FCA). For a gambling operator to accept crypto, the crypto-related activities would first require authorization from the FCA under the Financial Services and Markets Act 2000. The FCA has established a clear timeline for this new framework, setting a final implementation deadline for October 2027. The regulator expects to open the application window for its new crypto licensing regime in September 2026. Crypto asset service providers that fail to apply within this window will be subject to transitional rules, which permit existing products but restrict the launch of new offerings.

UK Gambling Watchdog Explores Crypto Payments for Betting

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Key Takeaways

Gambling Commission Eyes Crypto to Combat Illegal Markets

FCA Sets October 2027 Deadline for New Crypto Regime