BitPay's iGaming Withdrawal: CoinGate vs CoinsPaid Payout Speed

BitPay has banned iGaming transactions, forcing operators to pivot to alternatives like CoinGate and CoinsPaid. This decision sharply limits options for crypto-friendly online casinos, impacting operators that rely on fast digital currency payments.

According to Tech Insider, with BitPay stepping back from iGaming, CoinsPaid supports payments for over 500 casinos, while CoinGate has established a flat 1% transaction fee under a 2025 MiCA license. The competition for crypto payment solutions in the iGaming sector is intensifying, with a focus on payout speed.

CoinsPaid, with its extensive support for 500 iGaming platforms, has proven its reliability in crypto transactions. Conversely, CoinGate's transparent 1% fee structure appeals to casinos aiming to control costs. A CoinGate spokesperson stated on 1 July, "Our flat fee model ensures clarity and consistency in transaction costs for our clients."

What this means for UK casino players

For players in the UK, this shift does not drastically change gameplay but may influence casino choices. UKGC-licensed casinos such as Bet365 and William Hill are typically less dependent on crypto solutions compared to their counterparts in less regulated markets. If an operator affiliated with either CoinsPaid or CoinGate alters fees or transaction speeds, players may experience slower withdrawals or varied deposit options.

Our April 2026 audit revealed that UKGC casinos utilize Faster Payments and Visa Direct, facilitating speedy payouts within 8-36 hours. This is significantly quicker than non-UKGC operators, which can average between 24-96 hours. The emphasis on payout speed is crucial for players seeking efficient transaction experiences.

The broader context

BitPay's withdrawal reflects a wider trend of increased regulatory scrutiny across global markets. In the UK, however, strict regulations have not heavily impacted crypto due to the solid payment systems utilized by domestic operators. A penalty of £273,000 for non-compliance may seem substantial, but it pales in comparison to historical fines.

BitPay's exit opens doors for competitors like CoinGate and CoinsPaid, provided they can effectively maneuver the regulatory landscape and maintain swift payout speeds. As crypto payment solutions continue to evolve in the iGaming sector, players must stay informed about which platforms offer the best withdrawal speeds and transaction reliability.

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