UKGC: Cryptoassets Considered for Betting Site Payment Option

by Jamie Smith, 4 March 2026

Cryptoassets may be permitted to be used as a payment method at betting sites and online casinos in the UK, according to the Gambling Commission.

Cryptoassets may be coming to UK online casinos and betting sites.

Key Facts:

• The UK Gambling Commission is looking into allowing cryptoassets
• Changes could come as part of wider financial services reforms in the UK, according to executive director Tim Miller
• UKGC says that its Industry Forum is looking into how cryptoassets may be used to fund legal gambling
• In a speech to the BGC’s AGM, Miller noted the close ties between crypto and illegal online gambling

UKGC’s executive director, Tim Miller, revealed the plans during a speech he made at the annual general meeting (AGM) of the Betting and Gaming Council (BGC).

Miller explained that the commission is aware of the close links between crypto and illegal betting in the UK, so it wants to tread carefully around the issue. Changes seem likely regarding how crypto can fit within the UK’s existing regulatory framework.

The government has recently introduced the Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2025 to Parliament, which, if passed, would bring cryptoassets under the remit of the Financial Conduct Authority (FCA).

FCA Involvement Required

In his address at the BGC, Miller explained that the FCA will have to be involved in any changes to how cryptoassets can be used to fund betting activities.

He noted that there is a “growing appetite” among betting site customers to use cryptoassets as a payment method.

Miller said: “We do now want to start looking at what the potential path forward would be to create a way for cryptoassets to be used as a consumer payment option for licensed and regulated gambling in Great Britain.”

“As a tentative first step, I’ve asked our Industry Forum to look at how they think this could be progressed sensibly and in line with the licensing objectives. At the commission, we know this is something where demand exists.”

However, it could be 2027 before changes to how cryptoassets are regulated will become official, so betting site users are unlikely to be able to use them any time soon.

Miller also warned that the commission wants to avoid getting stuck on a “regulatory treadmill” and called for a period of stability.

Crypto Links to Illegal Betting

Miller went into detail about how cryptoassets have been linked to illegal online betting.

He said at the AGM that research that has been carried out by the Gambling Commission shows that crypto is “one of the two biggest searches that lead British gamblers to illegal sites”.

Miller added: “There will be significant challenges and risks to overcome in considering this topic, but I am keen that we approach this in the spirit of exploring the art of the possible rather than starting from a position of finding all the reasons not to innovate.”

UKGC recently confirmed that the organisation’s chief executive, Andrew Rhodes, will be leaving his post at the end of April 2026.

Sarah Gardner, who has been working as Rhodes’ deputy, is set to step up as acting chief executive while UKGC carries out the recruitment process for his successor.

Miller told the BGC AGM that the Gambling Commission is facing a transitional period due to Rhodes’ decision, as well as a raft of recent regulatory changes, including new UK gambling tax updates introduced by the Labour government.