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Owotunse Adebayo

DraftKings to launch crypto-to-cash betting deposits in four US states after MGC ruling

DraftKings plans to introduce a crypto-to-cash deposit option in Illinois, Kentucky, New Hampshire, and Vermont in the coming weeks, allowing US users to fund betting accounts with digital assets converted to cash. Massachusetts regulators have blocked similar deposits by banning crypto-converted funds as a permissible source, while other states like Wyoming, Colorado, and Virginia already allow such methods. At the same time, multiple jurisdictions are moving to prohibit credit cards for online sports wagering due to concerns over gambling-related financial harm.
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