Technologist Nigel Eccles, the founder of FanDuel, believes that iGaming must accept that cryptocurrencies will spearhead the industry’s next evolution.
His judgement is grounded in “the combination of over $3trn in crypto assets currently held by people worldwide, the portability of cryptocurrencies, and the innovative nature of crypto casino operators making the outcome inevitable”.
Yet, Eccles is bemused that crypto technologies and utilities continue to be misunderstood by the industry’s top ranks, with many viewing crypto as divisive and unviable for a merger with iGaming.
The utility of crypto for iGaming should be clearly understood, as Eccles underscores the “inherent flexibility and autonomy that cryptocurrency affords its users. Unlike traditional forms of wealth storage, such as gold or government treasuries, cryptocurrencies allow for fast, borderless transactions”.
Viability is simply driven by consumers choosing technologies with “easy portability to empower players to manage their assets according to their preferences, without third-party restrictions and oversight.”
“The bottom line is that with crypto, players get to spend their own money however they want to,” he emphasises.
The view that crypto is divisive ignores its innovations, which have brought in new audiences through features such as “crash games, provably fair verification, and real-time streaming, pushing the boundaries beyond what traditional online casinos offered”.
Scepticism towards crypto ignores the reality of iGaming as an industry historically plagued by trust issues between operators and consumers. Moving beyond utility, Eccles believes that fair play is the true paradigm shift offered by crypto.
“Provably fair technology, for instance, allows players to independently verify the fairness of game outcomes through cryptographic hashing — a guarantee of fairness and integrity that builds trust and consumer confidence.”
As a technologist and serial innovator, Eccles is prepared to roll the dice once more and bet on crypto’s marriage with iGaming. Teaming up again with FanDuel co-founder Rob Jones, the duo has launched a new crypto platform, BetHog.
“The growth trajectory of crypto in the online casino sector further supports its leading role in iGaming’s next era.”
Launched in November 2024, BetHog has raised $6m in VC funding, led by Web3 VC fund 6th Man Ventures, and has the backing of industry figureheads Chris Grove of Eilers & Krejcik and Josh Hannah, the founder of the Flutter.com betting exchange.
BetHog’s mantra is that “it is built for fair play,” with its backers recognising a “rising demand for integration between traditional gaming platforms and crypto solutions, as mainstream operators increasingly seek to incorporate digital currency transactions in efforts to remain competitive and innovative”.
With improved regulatory assessments of cryptocurrencies and blockchain, 2025 is expected to be a transformative year for the sector.
Moreover, crypto’s integration addresses several operational hurdles endemic to traditional iGaming methods, including issues within the payments supply chain.
Eccles concludes that innovation is simply inevitable: “Cryptocurrency transactions are dramatically quicker than conventional financial systems, eliminating delays associated with banks or payment processors. Additionally, crypto payments are significantly cheaper for operators and players, and they eliminate major sources of fraud.”
Thus in 2025, the grown-ups enter the room as “the marriage between cryptocurrencies and the iGaming industry is not just a fleeting trend”.
“It represents a paradigmatic shift in how online gaming will operate. By leveraging the autonomy, innovation and growing popularity of crypto, the iGaming space is setting itself on a path toward a fairer, more dynamic and decentralised future.”