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Interview with SOFTSWISS COO Andrey Starovoitov about iGaming and Crypto

Published

3 years ago

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Reading Time: 7 minutes

 

SOFTSWISS offers comprehensive software solutions to online casinos and bookmaking websites. The company was the first to integrate crypto payments into its Online Casino Platform. SOFTSWISS COO Andrey Starovoitov agreed to answer some of our questions regarding the potential of cryptocurrencies in iGaming.

  • Hi Andrey, thank you for taking the time to answer some questions. SOFTSWISS is the first online gambling software company to start working with cryptocurrencies as early as 2013. What makes SOFTSWISS’ solution more advanced compared to others?

First and foremost, it would have to be our experience and expertise in dealing with cryptocurrencies, as well as understanding the potential opportunities crypto gambling presents for the operator. We made sure to incorporate crypto into all possible aspects of our product solutions. They are designed to manage cryptocurrencies with ease and enable the flexible integration of new coins for operating purposes.

Today SOFTSWISS offers not only a set of individual products but also an entire ecosystem to start crypto gambling operations from scratch. The product line includes important elements such as an Online Casino Platform, Game Aggregator, the Sportsbook Platform, the Jackpot Aggregator, a Jackpot as a Service solution, the Affilka affiliate platform. Another important advantage is the partnership with CoinsPaid, which offers a crypto payment processing gateway and a business crypto wallet.

All products are adapted to work with cryptocurrencies. For example, the Game Aggregator has already had 44 game studios customising their portfolio to use the most popular coins like Bitcoin, Etherium, Litecoin, Tron, Dogecoin, etc. The Online Casino Platform is the backbone of crypto operations and, in conjunction with crypto processing by CoinsPaid, allows operators to launch payments in any altcoins on the market.

Crypto betting, in general, is mainstream. Everyone was stunned by the recent news that world-famous Canadian rapper Drake bet over $1 million in Bitcoin on a Super Bowl LVI match. The SOFTSWISS Sportsbook is fully adapted for this purpose. Our experience working with the strongest crypto brands on the market allows SOFTSWISS to be at the top of the crypto gambling niche. Understanding trends in cryptocurrencies and blockchain technology undoubtedly allows us to state that our products are currently leading the way in the B2B sector when it comes to crypto gambling solutions.

  • SOFTSWISS offers both White Label Solution and Crypto Casino Solution. What are the advantages of Crypto Solution and who would you advise to consider this option?

The Сrypto Solution is worth considering for all operators, as cryptocurrencies give access to a wider audience and more countries than the standard fiat currencies. The crypto audience is young and marketing to it is an investment into the future, an opportunity to enter something long-term. Crypto is here to stay.

But I would point out that it is the current market leaders, who should consider looking into crypto. We are at a turning point in the gambling industry. The gap between classic casinos and second-wave crypto gambling casinos such as Stake, Roobet, BC.GAME, Duelbits, Rollbit is now too evident. The young audience of the new casinos is very different from the classic online casino. 

We can highlight a strong demand for community building among players through forums, integrated casino chat rooms, increased interest in competitive elements, and a surge in new channels of engagement via streaming on Twitch and TikTok. And these are just a small part of these differences. It will be quite difficult to catch up with these new crypto casinos if market players miss out on the opportunities crypto offers, as new leaders in this niche emerge.

One of the significant benefits of using cryptocurrencies is the Conversion Rate and the Acceptance Rate (the rate that reflects the percentage of successful deposits). These rates are significantly higher when compared to fiat methods, as the average acceptance rate on the SOFTSWISS Online Casino Platform is close to 99%. Funds transfer speed is also better in comparison with some fiat methods. 

With Cryptoprocessing by CoinsPaid, we credit crypto to the player’s balance immediately, even if the transfer itself has not reached the CoinsPaid crypto wallet yet. Moreover, we minimise risks with various advanced tools. In addition, it is worth noting that the transaction cost in crypto is significantly cheaper than in fiat currencies.

All of these factors directly impact the player conversion rate and, consequently, the operator’s success.

  • Crypto projects often involve high risks. How do you help your crypto clients develop and avoid risks in the iGaming industry?

As I see it, the potential risks in the case of cryptocurrencies are negligible and barely different from those of a classic casino. Of course, some operators are wary due to their lack of experience in using cryptocurrencies, but SOFTSWISS is the right partner to help reduce the risks to a minimum by providing expertise and innovative product solutions. 

Among possible risks, the only thing that operators may be concerned about is the fear that cryptocurrencies are too volatile and their exchange rates can vary significantly. For example, this could lead to losses in settlements with gaming operators. The functionality of the SOFTSWISS Online Casino Platform will allow the game itself to be run on fiat, while the player balance will be fixed in crypto. This makes it possible to perform all settlements with game providers based on fiat currencies and minimise the potential risk of loss on exchange rate differences.

Secondly, this is more of a concern than a risk, I would call the traffic sources. Indeed, crypto traffic is still emerging and is in an active growth stage at the moment. It is different to the, if we can now call it that, ‘classic online casino audience’. There is definitely an opportunity for operators to convert existing fiat traffic into crypto through tech solutions like Utorg, Changelly, or Moonpay, which let you buy cryptocurrencies directly from a casino site. Streaming also works great for a crypto player acquisition, as streaming services often have a younger target audience.

  • What cryptocurrencies does the SOFTSWISS Crypto Casino Solution support? How are the supported cryptocurrencies  selected and can we expect new additions?

The SOFTSWISS Crypto Casino Solution enables operators to work with any coins, primarily due to the platform’s flexibility and the integration with Cryptoprocessing by CoinsPaid.

While CoinsPaid enables casinos to instantly convert payments from players into any of 20 fiat currencies. This way the player’s fiat balance is not subject to volatility and is fixed at the time of deposit.

The SOFTSWISS Online Casino Platform can convert the player’s crypto balance into fiat at the time of betting. Casino players can play any game with their crypto balance, even if it (the game) does not support crypto.

This approach is used by all market leaders in crypto gambling and has a number of undeniable advantages. It provides access to a larger number of gaming studios and producers for players who typically prefer to deposit and play in crypto.

The second advantage is that adding new coins is much faster and does not depend on the game provider. And finally, the risks in the case of crypto value volatility are reduced, as the payment to the game producers is based on fiat currencies.

The fast process of adding new coins is important. Already we are seeing a gaming community forming around specific coins, such as Tron, and the emergence of new high-growth cryptocurrencies, such as Shiba Inu, requires an immediate response from operators to market demands.

  • If we look at the Game Aggregator’s 2021 statistics, we can see that the share of crypto from all currencies has doubled: from 20% to about 40%. How do you explain this growth in popularity of crypto among players? Are there any advantages to using cryptocurrencies compared to regular money?

It is safe to say that we have seen the second wave of crypto gambling and the re-emergence of the concept of crypto gambling itself in 2021. The rapid rise in the value of Bitcoin led to the growth of crypto adopters globallyand, consequently, the crypto casino audience. But the key factor was the entry of so-called crypto dice operators like Stake, Roobet, BC.GAME, Duelbits, Rollbit into the iGaming market as we know it. Crypto dice operators had already established a community of crypto adepts. They primarily presented in-house developed games (for example, Stake Originals) based on provably fair technology that allows them to verify the fairness of winnings. The confluence of these circumstances has influenced a resurgence of interest in crypto gambling. 

On the player’s side, the use of cryptocurrencies offers a number of advantages, mainly speed and ease of use in the case of payouts. Anonymity is also a significant factor for a part of the audience.

  • Is there room for novelty in the iGaming industry? Can blockchain technology further revolutionise it or are the opportunities offered by cryptocurrencies mostly exhausted already?

In my view, blockchain technology will significantly impact the industry in the near future. There are clear indicators of it and it will be the audience’s demand for innovations that will improve the player experience, and it’s not just the use of cryptocurrencies in gambling. We are only just arriving at the formation of the crypto-gambling niche. Things like blockchain-based decentralised casino, NFT, and provably fair technology will be integrated into the market in the foreseeable future. By the way, SOFTSWISS is already considering the introduction of NFT technology in gambling.

  • Although cryptocurrencies are increasingly more popular and becoming mainstream, some people are still sceptical about their reliability. Do you see a long-lasting future for cryptocurrencies? Is crypto gambling just another passing trend, or is it here to stay?

I understand people’s scepticism about crypto. It is hard enough to understand how, in the modern world, something can have a huge value with essentially no connection to anything physical. Cryptocurrencies are a soap bubble to such people, but that’s not entirely true. We are seeing major changes in the global economy, where the value of an asset is influenced by the general public’s hype, interest, and trust. Bitcoin is certainly here to stay, and though the technology has aged, it has inherent value and has established trust among its community of users.

Obviously, cryptocurrencies are with us forever, and I don’t see any factors affecting the decline in interest. Naturally, some fluctuations in the value of Bitcoin, as the most popular and, I would say, the most basic cryptocurrency, could affect the interest of some as an investment tool. However, as the experience of previous fluctuations shows, the subsequent growth attracts more new adopters. Overall, we are witnessing iterative growth in both value and audience volume. 

The price and value of Bitcoin and cryptocurrencies is driven by the demand for ease, speed and cost of a transaction.These factors provide the underlying value of cryptocurrencies in the world to its audience. It is hard to imagine whether it would be possible to transfer a large amount of fiat currency between different continents at the same speed and cost per transaction that cryptocurrencies provide. For this reason, despite the speculative peaks in Bitcoin’s value, we will see a steady trend of new audience growth in the future.

SOFTSWISS offers easy solutions to iGaming operators. The company’s products include several other services beyond its leading crypto integration solution, such as its Game Aggregator, bringing together more than 150 casino game vendors, or the Jackpot Aggregator, allowing iGaming brands to launch custom jackpot campaigns and promotions to enhance customer experience.

Find out more about SOFTSWISS!

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Portrait of a Fraudster Then and Now: How Scammers’ Habits and Tactics Are Changing

Published

6 days ago

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June 26, 2025

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Reading Time: 4 minutes

 

Fraud in the iGaming sector is no longer the work of lone opportunists. Today’s scammers operate in well-organized, tech-savvy networks – quietly exploiting systems that weren’t built to catch them. And as the digital economy grows, so too does the complexity of fraud schemes targeting gaming operators.

Amid this evolving threat landscape, Frogo has emerged as a  company redefining how fraud prevention should work. We spoke with Volodymyr Todurov, CEO at Frogo, to get an inside look at how fraudsters are changing their tactics – and what operators can do to stay ahead.

 

Fraudsters evolve fast – how does your system stay one step ahead without overwhelming teams with false alarms?

Absolutely, the landscape of fraud is constantly shifting and staying ahead requires more than static rules. At Frogo, we’ve developed a dynamic system that adapts in real-time to user behavior and transaction contexts. Our platform learns from both fraudulent and legitimate activities, enabling it to distinguish between the two more effectively. This approach reduces false positives and ensures that our clients’ teams can focus on genuine threats without being bogged down by unnecessary alerts.

 

Can you walk us through a real-world case where your platform uncovered a fraud scheme traditional tools missed?

Absolutely. One notable case involved a large-scale bot attack targeting SMS-based fraud vectors. Initially, our standard device ID-based defenses helped neutralize the first wave of the attack. However, the adversaries quickly adapted, altering their emulation tactics to bypass traditional checks. At that point, conventional methods were no longer sufficient to detect the evolving fraud.

We responded by implementing a dynamic anomaly detection framework. This involved redefining detection signals in real-time using IP intelligence and deep device fingerprint attributes – areas where our proprietary data collection algorithms provided a significant edge. By anchoring detection logic to more granular and resilient signals, we were able to recalibrate thresholds dynamically, ensuring legitimate users weren’t impacted.

The results were decisive: bot attack efficiency dropped sharply from over 80% to just 3.5%.

 

What’s something about fraud detection that most businesses get wrong? And how does Frogo challenge that?

A common pitfall we see is operational rigidity – many businesses rely on static rules and general-purpose triggers that result in high false positive rates. This not only burdens anti-fraud teams with unnecessary manual reviews but also degrades the experience for legitimate users, especially loyal or VIP customers.

For example, it’s typical to see blanket rules like “manually verify all payouts over X euros.” While that may seem prudent, in reality it’s inefficient. It overlooks low-value, high-frequency fraud – such as bonus abuse – and disproportionately flags legitimate high-value players.

At Frogo, we take a different approach. Our system adapts rules dynamically based on customer behavior and segmentation. A trusted VIP user with a long-standing reputation shouldn’t be reviewed multiple times a day. But if a wave of new €5 accounts starts exhibiting bonus-hunting behavior, they should run immediate scrutiny – regardless of transaction size.

By aligning detection logic with behavioral context and player reputation, we reduce noise, increase fraud catch rates, and protect real users from unnecessary friction.

 

How does Frogo automate risk logic without sacrificing the flexibility businesses need to reflect their unique policies and traffic patterns?

At Frogo, we don’t see automation and customization as opposing forces – they operate in different dimensions. Our focus is on automating the customization of risk and scoring policies in a way that respects each client’s specific risk appetite and user behavior.

We achieve this through dynamic triggers. Rather than hardcoding arbitrary rules – like “five failed top-ups per minute equals fraud” – we apply adaptive scoring thresholds that align with real-world usage patterns.. For example, our system might detect that, for a certain payment method and user segment, more than 1.3 failed top-ups per minute is statistically anomalous – because it exceeds the 98th percentile of historical behavior.

But that same trigger adjusts automatically. If the next day a payment provider experiences a technical issue and normal users start retrying more often, the threshold might shift to 2.7. What was anomalous yesterday may no longer be today – and our system adapts accordingly to reflect evolving traffic patterns.

As a result: the clients retain full control over their risk strategy, while Frogo ensures their policies scale efficiently, adapt in real time, and minimize false positives – even in volatile traffic conditions.

 

Beyond detection – how does Frogo help companies investigate and understand fraud at a strategic level?

Detection is just the beginning. Frogo’s graph-based forensic tools and AI models provide a comprehensive view of the relationships between accounts, transactions and behaviors. This allows companies to identify patterns and vulnerabilities that might not be apparent through traditional analysis. Our analytics layer offers insights into trends and forecasts, enabling businesses to understand the broader context of fraudulent activities and make informed strategic decisions to mitigate future risks.

Fraud might be getting smarter, but so are the solutions built to fight it. Platforms like Frogo are helping operators move beyond reactive security measures and into a space of strategic, data-informed defense. In an industry where trust is everything, that shift might just be the difference between staying one step ahead – or falling behind.



Disclaimer: Frogo’s fraud prevention solutions are developed in full compliance with applicable data protection laws, including GDPR. All behavioural analysis is performed on anonymised or aggregated data, with full transparency and control provided to our clients.

The post Portrait of a Fraudster Then and Now: How Scammers’ Habits and Tactics Are Changing appeared first on European Gaming Industry News.

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Inside the Matrix: A Conversation with EveryMatrix Founders on Europe, Expansion, and Staying Hands-On

Published

1 week ago

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June 23, 2025

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Reading Time: 4 minutes

 

By Maria Emma Arnidou, Event Marketing Director at HIPTHER, for the European Gaming Media

During the recent EveryMatrix Media Day at the company’s opening of their new London office, Co-Founders Ebbe Groes (CEO) and Stian Hornsletten sat down with press to share key insights into their strategic vision. In this exclusive Q&A, we explore their views on the European Market, the evolution of EveryMatrix’s business model, leadership philosophy, and the company’s experience in the ever-evolving U.S. market.

Europe is filled with local heroes. It’s far more fragmented than most people think.

 

You discussed emerging markets in your presentation. What about Europe – is it considered saturated, or are there still areas of growth?

Ebbe Groes: I really don’t think Europe is saturated at all. In fact, big parts of it are still underdeveloped. Take France for example, it doesn’t allow online casino. Germany has effectively banned it. That’s two of Europe’s three largest economies where casino is either outlawed or nearly impossible. So yes, there is still plenty of room for growth.

Stian Hornsletten: And the market is getting more concentrated around a few bigger players, but even then, it’s not as centralized as in the U.S.

Ebbe Groes: Exactly. Europe is filled with local heroes. You won’t find many players dominating across the board. Kindred, Betsson – they’re strong, but when you go country by country and look at market share, the picture is very fragmented. Even with the economies of scale in marketing – say you sponsor a Premier League team – you’re still not getting the full return unless you’re present across multiple markets. That’s what makes Europe so different from the U.S., where a few big players hold all the cards.

We started with a sportsbook. Now we’re building an ecosystem.

 

EveryMatrix today operates across multiple verticals with a deeply diversified portfolio. Was this the vision from the start, or did it evolve as the company grew?

Stian Hornsletten: The vision definitely evolved quickly as we grew. We started with OddsMatrix, a B2B sportsbook product that was meant to be an off-the-shelf, managed solution – something that didn’t exist back then. Within a year, we had already expanded into turnkey and PAM solutions. By 2010–2011, we had launched the CasinoEngine and started specializing in product verticals.

We’ve always been very innovation-driven. We keep developing new products – some of which are still under wraps – and R&D remains one of the most exciting parts of what we do. Today, most of our top 10 clients are turnkey. While we still offer standalone modules, our growth has come from cross-vertical synergy.

 

Despite this scale and complexity, you both remain deeply involved in the company’s day-to-day operations. How do you manage to stay on top of everything across products, people, and processes?

Ebbe Groes: It helps that we’ve been here from the start. I wouldn’t want to be hired into this role now and try to learn everything from scratch – but I’ve had 18 years to absorb it all. We’ve built the company in a way that each vertical operates almost like its own business. For example, the sports division has its own CTO, product team, trading team, and even its own support function. That independence gives us breathing room.

It allows me to focus on high-level strategy, like acquisitions – take FSB, for instance. That required a lot of focus at the start, but eventually it will transition into the core business and require less direct involvement.

Stian Hornsletten: Over the years, we’ve also developed strong planning, reporting, and KPI structures across the business. That consistency makes it easier to monitor everything and integrate new divisions. Whether we open a new office or onboard a new team, we already have the systems in place to support them.

Ebbe Groes: And the same goes for finance and HR. When we opened the London office, the HR team already knew how to handle it – we’d opened three the year before. That kind of maturity allows us to move fast without creating chaos.

“In Europe we have 150 competitors in content; in the U.S., maybe 10.”

 

And what about the U.S. – a market many see as the holy grail of iGaming? What’s your current position there?

Ebbe Groes: To be honest, the U.S. was a tough lesson. We entered hoping to provide a full turnkey solution, but the market didn’t evolve the way we expected. Many well-funded B2C operators pulled out, and that left little demand for companies like us to offer the full stack. We pivoted to focus on one thing: our own gaming content.

Stian Hornsletten: We’re now live in four out of five regulated U.S. states for our own content, and we have agreements with all the major operators. Some new games from SlotMatrix are set to launch by summer, and they’ve already shown strong performance elsewhere – which gives us hope. If we manage to capture even 1–2% market share with our own content, that would already be meaningful.

But it’s been a long and costly process. Every state has its own regulatory requirements, separate hosting, and certification needs. And if one state’s not ready, operators won’t promote your games nationally. It’s frustrating, but it also reduces competition. In Europe we have 150 competitors in content; in the U.S., maybe 10. So if we can endure, there’s long-term potential.

The post Inside the Matrix: A Conversation with EveryMatrix Founders on Europe, Expansion, and Staying Hands-On appeared first on European Gaming Industry News.

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Review Fatigue Is Real: How to Make Casino Comparisons Clear, Honest, and Huma

Published

2 weeks ago

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June 18, 2025

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Sebastian Jarosch is the founder of Mithrillium Media Ltd, and a very famous figure in the iGaming industry. His contributions to the market have been immensely influential. Jarosch has overlooked several projects relating to the online gambling market, most notably those involving affiliates. Because of his past works, we believe he is uniquely qualified to address the topic of Review Fatigue, that seem to be plaguing the industry right now.

Actions speak louder than words. And Jarosch’s actions have earned him several of the most notable industry awards. Among the most notable are the Casinomeister 2020 Awards for Best Casino Group, the AskGamblers Awards for Best Partner in 2021, and the Affpapa Awards Affiliate Programme of the Year 2022.

Interview Questions:

What is “review fatigue,” and why do you think it’s becoming a growing issue in the iGaming space?

Review fatigue happens when players are faced with repetitive, overly long, or generic content. With so many casinos offering similar bonuses, games, and licensing, users quickly lose interest if every review sounds the same. Many reviews lack real insight and simply list features without context, often sounding too good to be true. As a result, players tend to skim or move on entirely, especially if they’ve already seen the same structure and wording on multiple other sites.

How can overly technical or overly promotional content alienate users instead of helping them?

When content is too technical, it can confuse or intimidate newcomers. Ideally content is educational and written with the player in mind. On the flip side, a sales pitch feels dishonest, especially to experienced players who know what to look for. Users are looking for clarity and guidance, not marketing sugar coated casinos. If a review sounds like it’s trying to sell rather than help, it erodes trust immediately. Players want transparency, real pros and cons, not just buzzwords.

What are the most important things players want to see in a casino comparison, and what can we safely leave out?

Players want to know the promotions, payment methods, withdrawal speeds, licensing, game variety, and reliability of a casino. They also care about things like support quality, KYC, ownership, RTPs, and real player feedback. What they don’t want is generic content that could apply to any casino and offers no real value. Sites like Casino-Groups help players pick the right casinos based on individual preferences.

How do you balance clarity with completeness when writing or designing reviews?

It’s all about prioritizing information and guiding the reader. We aim to answer the most important user questions right at the beginning, often using summary tables to make things easier to digest. More detailed information comes later for those who want to dive deeper. It’s important to avoid walls of text and explain complex terms in plain language. The goal is to give users exactly what they need to know, without bombarding them with unnecessary information.

Do players trust shorter, more digestible content more than long-form reviews today? Why or why not

Shorter content tends to convert better because users find what they’re looking for quickly, without digging through long paragraphs full of filler. Dense, meaningful content with no waste often performs best. A short, clear, and well-structured review can build more trust than a long one filled with fluff. That said, some players do enjoy longer reviews, especially when they’re broken up with visuals, clear sections, and genuinely useful insights.

What role does tone of voice play in making reviews feel more human and less “salesy”?

A review should feel like it’s written by a real person who’s an expert in the field, not by ChatGPT or a salesperson. We use conversational language where possible and speak directly to the user. If something’s bad or a bonus is just average, it needs to be mentioned. That kind of honesty builds far more credibility than flashy design or empty buzzwords.

How do you verify and present information (e.g., licensing, terms, payment speed) in a way that’s both accurate and user-friendly?

We manually verify everything by signing up, testing support, and reading the fine print. We also check licenses through official registries and monitor user feedback on watchdog sites. To present the information clearly, we use tables, lists, screenshots, and both internal and external links to relevant pages. All our reviews follow a consistent format so players know what to expect and can easily find the details they need.

Have you experimented with visual elements like comparison tables, badges, or rating meters to reduce cognitive load?

Pictures speak a thousand words and help break up content into smaller, more digestible sections, reducing review fatigue. We use comparison tables for things like bonus terms, game selection, and payment methods. Every review includes a rating, and we apply badges to highlight our top casinos. This makes it easier for users to compare options at a glance and make smarter decisions with less effort.

What strategies do you use to keep review formats consistent while still personalizing the experience for different user types?

We follow a consistent structure that works well for both SEO and conversions. However, if a specific area needs emphasis or additional context, we’re happy to deviate from our standard format to ensure topical completeness. Some casinos offer unique features that deserve extra attention, and in those cases, we’ll add dedicated sections. The framework is consistent, but we stay flexible where it counts.

Looking ahead, how do you think casino reviews will evolve to meet changing user expectations and attention spans?

We’ll see more interactivity, personalization, and smarter use of data. Reviews could adapt in real time based on user preferences, highlighting crypto options for one user and game selection for another. AI chatbots may help users find the best match and answer questions about a casino instantly. Integration with platforms like Discord or Telegram where players can exchange themselves could also make reviews feel more social and trustworthy. Reviews need to become sharper, more authentic, and more genuinely helpful than ever before.

The post Review Fatigue Is Real: How to Make Casino Comparisons Clear, Honest, and Huma appeared first on Gaming and Gambling Industry in the Americas.

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