BitPay's iGaming Ban: CoinGate and CoinsPaid Compete

BitPay has taken a firm stance by banning iGaming transactions entirely, leaving operators to look towards alternatives like CoinGate and CoinsPaid. This move narrows down choices for crypto-friendly online casinos significantly, impacting many operators reliant on digital currency payments for their business.

According to Tech Insider, while BitPay has closed its doors to iGaming, CoinsPaid processes payments for over 500 casinos and CoinGate has positioned itself with a flat 1% transaction fee under a 2025 MiCA license. The competitive landscape for crypto payment solutions in the iGaming sector is tightening amidst these developments.

CoinsPaid, powering over 500 iGaming platforms, stands as a major player in crypto transactions. Its extensive reach indicates significant trust and utility in the industry. On the other hand, CoinGate, with its flat 1% fee, offers a transparent and predictable cost structure, attractive to casinos looking to manage expenses. A spokesperson for CoinGate remarked in a 1 July statement: "Our flat fee model ensures clarity and consistency in transaction costs for our clients."

What this means for UK casino players

For UK players, this development doesn't immediately shift the way they play but could impact the casinos they choose. UKGC-licensed casinos, like Bet365 and William Hill, are less reliant on crypto solutions than those in less regulated markets. However, if an operator using CoinsPaid or CoinGate adjusts fees or transaction times, it might trickle down to you in the form of slower withdrawals or different deposit options. Our April 2026 audit showed UKGC casinos offered Faster Payments and Visa Direct, ensuring speedy payouts in 8-36 hours, far better than non-UKGC operators averaging 24-96 hours.

The broader context

The ban from BitPay resonates with a broader regulatory tightening seen across global markets. Yet, UK's stringent regulations have not heavily leaned on crypto due to the established and compliant payment infrastructures of domestic operators. £273,000 might sound hefty as a penalty for non-compliance but is modest compared to some historical fines. BitPay's decision aligns with a cautious approach seen across financial sectors wary of regulatory exposure. Their withdrawal makes room for competitors like CoinGate and CoinsPaid to capture market share, provided they can navigate this regulatory landscape effectively.

For more insights on UKGC-compliant casinos, check out our detailed guides on licensed operators and their payout efficiencies.