Cryptocurrency
Crypto Gambling Trends 2022: SOFTSWISS Shares Q1 Insights
Over the past 2 years, crypto turnover within the iGaming industry has significantly increased. The recently released SOFTSWISS corporate report confirms the growing adoption of cryptocurrencies.
Being the leading company in crypto gambling, SOFTSWISS keeps abreast of all trends related to the growth of crypto. The information from the detailed report shows the comparative data for the 1st quarter of 2021 and the same period of the current year based on the results of the SOFTSWISS Game Aggregator and the SOFTSWISS Casino Platform. In the article below the SOFTSWISS team gathered the most significant facts that reflect the state of the crypto gambling market at the moment, and offered the forecasts for the future changes.
Crypto Bets: x2 Growth
Along with the global trend, which shows the growing popularity of cryptocurrencies, the SOFTSWISS сorporate report also demonstrates the continuous development of crypto gambling. According to the statistics, the sum of bets in digital coins in Q1 2022 more than doubled compared to the same period last year. More precisely, it has grown by 116,7%.
“Stable growth of cryptocurrencies in the iGaming market allows us to say that crypto gambling has become an independent, full-fledged, and extremely promising line of business. Those brands that have adapted to these conditions and allowed their players to use all the benefits of cryptocurrencies have an advantage such as wider opportunities for operation and, accordingly, a wider audience,” noted Andrey Starovoitov, COO at SOFTSWISS.
Crypto & Fiat Currencies Bet Share: Blurring the Difference
Observing the ratio of different currencies, the numbers show that fiat currencies still hold the leading position, having 64% of the total volume. However, the share of cryptocurrencies is steadily growing every quarter. Compared with the same period last year, the share of crypto in Q1 2022 increased by almost 10 percentage points: from 26.3% to 35.9%. At the same time, in comparison to the first quarter of 2020, the share of cryptocurrencies has grown by 29 percentage points. If such dynamics continue, the share of fiat and cryptocurrencies may become equal over the course of the next year.
Top Cryptocurrencies: Bitcoin is Decreasing its Share
Even though Bitcoin has been the preferable cryptocurrency since it was introduced by SOFTSWISS, it showed a decrease in its share in Q1 2022 by 10 percentage points. This is related to the growing interest in Ethereum and Litecoin, the top altcoins at the moment. Their share has increased by 3.45% and 2.95% respectively. The precise share of the top 3 cryptocurrencies in Q1 2022 is the following:
- Bitcoin (BTC) 72.80%
- Ethereum (ETC) 13.45%
- Litecoin (LTH) 6.45%
Andrey Starovoitov, COO at SOFTSWISS, commented on the popularity of the cryptocurrencies today: “Bitcoin will still be the leading cryptocurrency for deposits in the near future. However, the strong growth of other altcoins demonstrates the interest in more advanced coins in terms of technology such as Ethereum. More players will prefer to diversify their funds with other cryptocurrencies. This is a positive trend related to the development of the market.”
The full list of the most used coins and their comparative analyses is reflected in the SOFTSWISS report.
Crypto Gambling in 2022: What to Expect?
The Q1 results, reflected in the company report, allow us to make the conclusion that cryptocurrencies will be showing further growth with subsequent changes in terms of coin share within the iGaming market. Diversification of cryptocurrencies used for betting will be one of the significant trends to influence the industry. At the same time, the trend in the regulation of the traditional casino will also characterise the development of crypto gambling in the future.
“The stronger regulation of traditional casinos will definitely attract new operators to the crypto gambling niche. In the next couple of years, we will see active growth in this market segment as most current leaders will join the niche. As for the product itself, we can highlight what you need to launch a successful crypto project based on our experience: connected crypto processing such as Coinspaid and crypto exchange services (Moonpay, Mercuryo.io, Utorg), as well as the in-game currency conversion for a wider selection of game content. However, new needs are already emerging. For instance, using NFTs to gamify the player experience and build a community of like-minded people around the online casinos,” summarised Andrey Starovoitov, COO at SOFTSWISS.
About SOFTSWISS
SOFTSWISS is a widely-acclaimed iGaming expert supplying certified software solutions for managing gambling operations. The company has an international team, which counts 1000+ employees, and has an official presence in Malta, Belarus, Poland, and Georgia. SOFTSWISS holds a number of gaming licences, providing one-stop-shop iGaming solutions. The company has a vast product portfolio, which includes the Online Casino Platform, the Game Aggregator with thousands of casino games, the Affilka affiliate platform, the Sportsbook Platform and the Jackpot Aggregator. In 2013 SOFTSWISS was the first in the world to introduce a bitcoin-optimised online casino solution.
Crypto iGaming industry
Elray Resources Inc. Officially Launches Kings of Sport – a Pioneering Crypto Casino
Elray Resources Inc., an emerging leader in the Crypto iGaming industry, has launched Kings of Sport (KOS), a state-of-the art online crypto casino that brings together the world of cryptocurrencies with the excitement of traditional casino games.
Kings of Sport is expanding player options in the online gambling industry by providing users with a diverse selection of classic and modern casino games that can be played using popular cryptocurrencies like Bitcoin, Ethereum, and others.
“Our partnership with KOS is a major step toward deploying Elray’s Crypto IP and expanding our presence in the growing Crypto iGaming market. We are pleased with the immediate response by players to KOS’ unique Crypto Casino offering, as evidenced by the registration of over 3,500 users during the first week,” Vincent Cai, chief technology officer at Elray, said.
Key Features of Kings of Sport:
- Wide Selection of Games: Users will have access to a wide range of classic and modern casino games, including live, slots, poker, blackjack, and roulette, among others.
- Cryptocurrency Integration: Kings of Sport supports multiple cryptocurrencies for deposits and withdrawals, providing users with a seamless gaming experience.
- Provably Fair Gaming: The platform offers tested and proven games offering high payout percentages.
- 24/7 Customer Support: Dedicated customer support team available round the clock to assist users with any queries or concerns.
- Fast Payouts once players have been verified.
- State of the Art User-Friendly Interface: The platform is designed to be intuitive and easy to use, ensuring a smooth gaming experience for all players.
“The registration numbers have been much higher than our expectations and, with this new KOS platform, we are bringing together the world of cryptocurrencies and online gaming to create that unique experience. We believe the rollout of the KOS platform will achieve the highest standards required to provide crypto players with a secure, fair and enjoyable gaming experience,” said Mr. Cai.
Cryptocurrency
Crypto Casino Lucky Block Partners with MMA Legend Michael Bisping
Global MMA legend Michael Bisping has signed a sponsorship deal with the fast-growing top-tier crypto casino Lucky Block.
The tie-up between the Mixed Martial Arts and UFC superstar and the premium sportsbook and casino entertainment platform is a win-win for Bisping fans and Lucky Block’s swelling customer base of highly engaged players.
This deal secures opportunities for both parties by leveraging the valuable synergies present in the colliding worlds of sports and online gaming.
Through securing the sponsorship deal with Michael Bisping, Lucky Block is joining the big league of crypto casino industry leaders who understand the business impact of top-level sports sponsorship deals.
Aligning with the world of competitive sports, Lucky Block is not only endorsing a celebrated athlete but is also tapping into the fervent sports fan base that is growing by leaps and bounds. Together, Lucky Block and Michael Bisping are bridging the gap between traditional sports and the burgeoning world of crypto-based betting.
Damian Jacobs, Lucky Block community and growth manager commenting on the sponsorship deal, said: “We are pleased to announce our sponsorship of UFC icon Michael Bisping. We believe this deal will be a powerful catalyst as we embark on the next leg of our journey to lead crypto gaming’s conquest of the online sports entertainment and betting industry.
“This partnership shows that Lucky Block can mix it up with the other industry leaders. Our sponsorship of Michael Bisping shows we understand the importance of developing and exploiting the brand projection potential at the intersection between the sports domain and the disruptive power of crypto betting.”
Cryptocurrency
SOFTSWISS Named Crypto Company 2024
Crypto Company of the Year was announced at the International Gaming Awards in London. SOFTSWISS, a leading technology company with 15+ years of experience in the industry, gets this title for the second year in a row.
Marking the beginning of ICE London, the awards ceremony has brought together top names in the iGaming industry to honour their achievements. The International Gaming Awards not only unites experts and gaming enthusiasts worldwide but also serves as the pinnacle charity event of the year.
The Crypto Company of the Year category recognises companies that create innovative experiences for clients in the gambling sector with a focus on crypto. The winner is determined by evidence showcasing the company’s standout performance in the crypto space compared to competitors. Reconfirming the previous year’s success, SOFTSWISS emerged as the Crypto Company of the Year for the second time in a row.
Securing the title of Crypto Company of the Year comes naturally to SOFTSWISS, the trailblazer in introducing crypto-friendly solutions for online gaming. Beginning with Bitcoin, SOFTSWISS has expanded its cryptocurrency offering to nearly 20 digital coins since 2013.
In its dedication to improving player experience, SOFTSWISS introduced the In-Game Currency Conversion feature. The innovation allowed players with crypto holdings to engage seamlessly in games originally tailored for fiat only. One year post-launch, 85% of all bets in crypto casinos powered by the SOFTSWISS Casino Platform were made via the feature.
As an expert in crypto-friendly solutions, the company shares its expertise through the quarterly State of Crypto reports and topical podcasts. This helps raise awareness among all stakeholders, offering essential insights for strategic decision-making.
Andrey Starovoitov, Co-CEO at SOFTSWISS, shares: “We are delighted to receive this award, and it signifies more than just recognition for our recent achievements. The title of Crypto Company of the Year holds deep meaning for those who led the way in integrating digital currencies into iGaming, actively advocate for crypto solutions, and generously share expertise in this field.”
About SOFTSWISS
SOFTSWISS is an international tech company supplying software solutions for managing iGaming projects. The expert team, which counts over 2,000 employees, is based in Malta, Poland, and Georgia. SOFTSWISS holds a number of gaming licences and provides one-stop-shop iGaming software solutions. The company has a vast product portfolio, including the Online Casino Platform, the Game Aggregator with thousands of casino games, the Affilka affiliate platform, the Sportsbook Platform and the Jackpot Aggregator. In 2013, SOFTSWISS was the first in the world to introduce a Bitcoin-optimised online casino solution.
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