BitPay's iGaming Ban Sparks Competition Between CoinGate and CoinsPaid

BitPay's outright ban on iGaming transactions has left operators searching for alternatives, placing CoinGate and CoinsPaid in the spotlight. This shift highlights the importance of privacy and crypto-friendly options in an increasingly regulated landscape.

As reported by Tech Insider, while BitPay has essentially shut its doors to the iGaming sector, CoinsPaid facilitates payments for over 500 casinos, showcasing its established presence. CoinGate, with a competitive flat 1% transaction fee backed by a 2025 MiCA license, also positions itself as an appealing choice for operators looking to maintain privacy while managing costs.

CoinsPaid’s extensive reach among iGaming platforms signifies its trustworthiness and capability in handling crypto transactions. CoinGate offers a flat fee structure that appeals to casinos aiming to keep expenses predictable. A CoinGate spokesperson highlighted in a statement on 1 July that "Our flat fee model ensures clarity and consistency in transaction costs for our clients," emphasizing their commitment to transparency.

What this means for UK players

For UK players, the implications of this shift might not be immediately apparent, but the choice of casinos could be influenced. UKGC-licensed casinos, such as Bet365 and William Hill, traditionally rely less on crypto solutions than operators in more lenient jurisdictions. However, should any operator utilizing CoinsPaid or CoinGate modify their fees or transaction times, this could potentially lead to slower withdrawals or altered deposit methods.

Our April 2026 audit indicated that UKGC casinos excel in offering options like Faster Payments and Visa Direct, allowing for swift payouts within 8-36 hours, significantly outpacing non-UKGC operators that typically take 24-96 hours.

The broader context

BitPay's ban is part of a wider trend of increasing regulatory scrutiny across various markets. Despite the tightening regulations, the UK's stringent framework has not heavily impacted crypto due to the established and compliant payment systems utilized by local operators. The £273,000 penalty for non-compliance may seem steep, but it pales in comparison to some historical fines.

BitPay's decision reflects a cautious stance prevalent in financial sectors wary of regulatory exposure. Their exit from the iGaming space opens the door for competitors like CoinGate and CoinsPaid to expand their market share, provided they can adeptly navigate the regulatory landscape.

For further insights on UKGC-compliant casinos, explore our detailed guides on licensed operators and their payout efficiencies.