BitPay's iGaming Ban: CoinGate and CoinsPaid Compete

BitPay has made a decisive move by banning iGaming transactions completely, prompting operators to explore alternatives such as CoinGate and CoinsPaid. This shift significantly reduces the options for crypto-friendly online casinos, impacting many operators that depend on digital currency payments for their operations.

According to Tech Insider, while BitPay has shut its doors to iGaming, CoinsPaid manages payments for over 500 casinos, and CoinGate has established itself with a flat 1% transaction fee under a 2025 MiCA licence. The competitive environment for crypto payment solutions in the iGaming sector is becoming increasingly intense.

CoinsPaid, which services over 500 iGaming platforms, is a significant player in crypto transactions. Its extensive reach reflects considerable trust and utility within the industry. Conversely, CoinGate, with its flat 1% fee, provides a clear and predictable cost structure, making it appealing to casinos aiming to control expenses. A spokesperson for CoinGate stated on 1 July: "Our flat fee model ensures clarity and consistency in transaction costs for our clients."

What this means for NZ casino players

For NZ players, this shift does not immediately alter the way they engage with online casinos but could influence their choices. NZ-licensed casinos, like Casino Kiwi and others, are generally less dependent on crypto solutions compared to those in less regulated regions. However, if an operator utilising CoinsPaid or CoinGate alters fees or transaction times, it could affect players through slower withdrawals or varying deposit options. Our April 2026 audit indicated that NZ-licensed casinos offered POLi and direct bank transfers, ensuring quick payouts, whereas non-licensed operators had longer wait times.

The broader context

The ban from BitPay aligns with a wider trend of regulatory tightening observed in markets globally. Nevertheless, NZ’s stringent regulations have not heavily targeted crypto due to the established and compliant payment systems available to local operators. A penalty of NZD 273,000 might seem substantial for non-compliance but is relatively modest compared to some historical fines. BitPay's decision reflects a cautious stance common in financial sectors wary of regulatory exposure. Their exit creates an opportunity for competitors like CoinGate and CoinsPaid to secure a larger share of the market, provided they can successfully navigate this regulatory environment.

For more insights on NZ-licensed casinos, explore our detailed guides on licensed operators and their payout efficiencies.