Cryptocurrency
Things That Could Affect the iGaming Industry in 2022
META: Take a look at our list of things that could affect the iGaming industry in the coming years.
Like a lot of other industries, the iGaming industry is often at the whim of advances in the wider world. World events, advancements in technology and consumer trends all have some sort of effect on online casinos and other betting platforms. And, in turn, the iGaming industry will have to learn to adapt.
But it’s a lot easier to handle things when you know what’s coming. It’ll make adapting your betting stores a lot more efficient to get ahead of developing trends, instead of playing catch up with the changing waves in the industry.
So, with that in mind, take a look at our list of things that could affect the iGaming industry in the coming years, and see how your business can adapt.
Virtual Reality is being pushed
Virtual reality is a big idea that is turning a lot of heads in Silicon Valley. Meta CEO Mark Zuckerberg envisions a world where people hold meetings in their virtual worlds and give granny a call with an avatar.
We’re a few years away from that, and in the meantime, virtual reality developers should focus on the demographic that is most likely to love it: gamers.
There are attempts to break into virtual reality gaming, and they’re slowly gaining traction. As more games hit the market, more VR rooms showcase their potential, more VR headgear will arrive and the virtual playground will open up.
And, if history is to repeat itself, some of the first games to hit the platform and be accepted will be casino games. Online casinos are already trying to up the immersion on their games, with live dealers and chat rooms. Why shouldn’t we upgrade that to appearing as though you’re actually sitting at the casino table? It’s sure to bring down the price of flights to Vegas.
Cryptocurrency is becoming mainstream
Slowly, cryptocurrency is finding its footing. People are learning the jargon, learning to avoid the scams, and are looking for ways they can use their newfound currency.
So far, short of buying a Tesla, there aren’t many options for the practical use of cryptocurrency except converting it into the national currency – except one place: online casinos.
More and more online casinos are accepting the likes of Bitcoin, Dogecoin, BEP20 token and more to make their deposits to online casinos. The main perk can be seen right away: it’s instant. Without the red tape of the bank to go around, players only need to wait minutes to gain their betting fodder, and don’t have to wait the standard 3-5 working days to then see the results of their winnings in their account.
As crypto becomes more popular and accepted, more industries will see the use of crypto and iGaming will no longer be one of two main uses of crypto, so it makes sense to adapt your site to accepting it now.
Regulations are slackening
World government attitudes to iGaming are changing. Famously stubborn anti-gambling countries like the Netherlands are changing their minds on the idea, and their regulations to match. In 2021 the Netherlands launched their own regulated gambling market, changing the law from an outright ban of all gambling in some places, to an allowance for online gambling. Meanwhile, South Africa and other African countries are telling their citizens that no gambling businesses will open in the country, but they can gamble online.
Even in the US, more and more states are accepting online gambling. So, what gives?
Well, taking New Jersey as an example, the launch of online gambling just before the worldwide lockdowns shut all of Atlantic City’s casinos, allowed the state to gain over $300 million in tax revenue. Since then, a lot of other states have followed suit, turning to online gambling as a means of recovering the country’s economy.
eSports are taking off
eSports are incredibly popular right now – and it makes sense. Everyone was surprised when the first YouTubers started playing games, asking “Who would watch that?” Fast forward and the top YouTuber and Twitch streamer are gamers, and some of the richest YouTubers are gamers. It only stands to reason that fans who love watching games for the fun of it, are likely to come out in droves to watch gaming competitively.
We might be a while away from entering the Olympics, but when you have investors transporting teams of players all around the world to win millions of dollars, you don’t need a medal.
And this means betting opportunities. The point is competitiveness, which means betting on the outcome. The great thing about this is that there is a lot to bet on. Customers don’t need to just stick to “winner” or “loser” but most kills, fastest run and all the millions of other concepts the gaming community has come up with over the years.
A lot of sports betting platforms have already started to adapt to this, offering eSports as a category alongside football, basketball and other traditional sports in a beautiful merging of nerd and jock.
SOFTSWISS, a tech company and pioneer in crypto gaming with over 15 years of experience, conducted a survey revealing that the majority view crypto as a key driver for growth in new markets. Experts also analysed this year’s crypto bets to share the latest insights.
Bitcoin recently reached a historic high, getting closer to 90,000 euro per coin. However, during the third quarter of 2024, it faced its sharpest drop in several years. SOFTSWISS experts examine how these market shifts have influenced iGaming performance in the quarterly ‘State of Crypto’ analytics.
A Quarter of the World’s Population Engages in iGaming
Global iGaming statistics indicate that approximately 26% of the world’s population were ever engaged in iGaming. By 2028, the iGaming market is projected to reach 243.2 million users, with a market volume nearing 130 billion euro, a substantial portion of which is expected to involve cryptocurrency.
SOFTSWISS data shows that during the 9 months of 2024, the Total Bet Sum, including both fiat and crypto, increased by 43.1% compared to the same period of 2023. Simultaneously, the Total Bet Count showed even more impressive growth, surpassing 44.5%.
An in-depth comparison analysis since 2022 demonstrates fiat bets are rising much more rapidly than crypto. A comparison between the first nine months of 2024 and the same period of the previous year revealed that the Fiat Bet Sum achieved a 50.4% boost. The conservative approach toward payment methods has resulted in Crypto Bet Sum growing at a slower pace compared to fiat and has led to a modest 4-percentage-points (p.p.) decline in the crypto share in 2024.
[1] Based on data from ongoing projects[
Potential of Crypto in iGaming 2025
According to the SOFTSWISS iGaming Trends 2025 Report, cryptocurrency is set to remain one of the preferred payment methods within the sector. Based on the company’s survey, 58% of respondents identified crypto as the primary driver of growth in new markets, underscoring its essential role in shaping the industry’s future.
Vitali Matsukevich, Chief Operating Officer at SOFTSWISS, reflects on the possibilities of crypto: “Integrating crypto payments allows iGaming businesses to operate globally, delivering greater speed and convenience. With iGaming’s naturally borderless reach, this expands platforms’ access to a wider international audience, boosting their global growth potential.”
“What is more, crypto transaction fees can be almost three times lower compared to traditional fiat gateways, allowing iGaming businesses to save on processing costs and reinvest that capital”, adds Max Krupyshev, CEO of CryptoProcessing by CoinsPaid.
SOFTSWISS data confirms stable interest in crypto. In the first nine months of 2024, the Crypto Bet Sum increased by 15.2% compared to the same period the previous year. A long-term quarter-by-quarter analysis reveals a consistent growth pattern, though the third quarter of 2024 saw a 9 p.p. decline from the previous quarter. The drop aligns with the decline in the exchange rates of major cryptocurrencies, including Bitcoin, Litecoin, and Ethereum, which occurred in the third quarter.
Meanwhile, the Crypto Bet Count rose by 16.2% in Q3 2024, indicating stable interest in crypto gaming. This combination reveals that while engagement in crypto betting remains steady, the total wagered sum is closely correlated to fluctuations in cryptocurrency exchange rates.
Altcoins Share Growth
The top five most popular cryptos in iGaming have remained stable over the years, with some shifts in the ranking order. Bitcoin, Ethereum, Litecoin, Tether, and Dogecoin are the most popular among crypto players. While altcoins accounted for only 25.1% of bets over the first nine months of last year, their share increased significantly to over 47% during the same period in 2024.
Bitcoin’s share dropped by 22 p.p. during the nine months of 2024 compared to the same period of 2023. At the same time, Tether and Litecoin saw the most impressive share growth, with over 8 p.p. and 7.8 p.p., respectively. Ethereum strengthened by 4.9 p.p.
Another impactful trend reveals some casinos, like Rollbit and Shuffle, utilise their own iGaming tokens to boost player engagement. Tokens designed specifically for gaming offer enhanced compatibility across platforms, lower volatility, and exclusive perks for users. Crypto drives the development of new payment methods and business growth.
Vitali Matsukevich summarises: “Crypto offers iGaming operators key advantages beyond lower costs and global reach. Blockchain enhances safety and fairness through transparency and traceability, with each transaction and game result permanently recorded and tamper-proof. Partnering with trusted crypto experts allows operators to harness these benefits, positioning themselves for growth and effectively navigating market shifts.”
The new SOFTSWISS iGaming Trends 2025 Report offers more insights about crypto in the ever-evolving iGaming sector. The visionary report is free to download via the link.
About SOFTSWISS
SOFTSWISS is an international technology company with over 15 years of experience in developing innovative solutions for the iGaming industry. SOFTSWISS holds a number of gaming licences and provides comprehensive software for managing iGaming projects. The company’s product portfolio includes the Online Casino Platform, the Game Aggregator with over 23,500 casino games, the Affilka affiliate platform, the Sportsbook software and the Jackpot Aggregator. In 2013, SOFTSWISS revolutionised the industry by introducing the world’s first Bitcoin-optimised online casino solution. The expert team, based in Malta, Poland, and Georgia, counts over 2,000 employees.
The post SOFTSWISS Survey Q3’24: 58% Cite Crypto as Key Driver in New Markets appeared first on European Gaming Industry News.
As the European crypto community prepares for the implementation of the MiCA, Kyrrex is organizing an online X panel to discuss the potential impact and future trajectory of the industry under this new regulatory framework.
The panel “Is MiCA that Bad? The Future of Crypto in Europe,” will take place on November 14, 2024, at 12:00 CET on X Spaces.
This event aims to offer an in-depth examination of the challenges and opportunities that MiCA presents, drawing on the expertise of industry leaders and stakeholders.
Key speakers for the discussion include Mike Romanenko and Kevin Plumpton from Kyrrex,
Tomer Warschauer Nuni from Kima Network, Andrea Zapparoli Manzoni from H4ckManac, Thanos Tsavlis from Cyberscope, and Anoop Nannra from Trugard Labs. Their insights will help attendees understand how MiCA may reshape the crypto landscape and what this means for different segments of the market.
“As MiCA ushers in a new regulatory era for the crypto industry, open discussions are crucial for navigating this transition effectively. By bringing together voices from various sectors, we aim to foster a deeper understanding and proactive approach to the opportunities and challenges ahead,” said Mike Romanenko, CVO & co-founder of Kyrrex. “Engaging in conversations like these helps ensure that the community is informed and prepared for the future of crypto in Europe.”
The panel will be structured to encourage interaction and participation, allowing attendees to submit questions and engage in a discussion with the panel. Topics are expected to include compliance, innovation, and strategies for navigating the evolving regulatory environment.
This event offers professionals, enthusiasts, and stakeholders an opportunity to gain a clearer perspective on what lies ahead as MiCA begins to take effect. It will also provide a space for dialogue and knowledge-sharing, fostering a greater understanding of the potential impacts on the crypto sector in Europe.
Panel “Is MiCA that Bad? The Future of Crypto in Europe” details:
- Date: November 14, 2024
- Time: 12:00 CET
- Platform: X Spaces
The post Kyrrex to host online panel discussion on MiCA and the future of crypto in Europe appeared first on European Gaming Industry News.
SCCG Management, a leading advisory firm in the global gaming industry, has announced a sponsorship partnership with Hoppa! Card, a pioneer in crypto payments and banking solutions. This collaboration is set to revolutionize the payment landscape for the gambling industry with a strong focus on crypto technology, leveraging SCCG’s extensive ecosystem of over 120+ client partners and its global presence across all major regions.
Through this partnership, SCCG Management will support Hoppa! Card in delivering their innovative crypto payment and banking solutions to a wider audience within the gaming industry. The synergy between SCCG’s expansive network of client partners and Hoppa! Card’s cutting-edge financial technology aims to enhance the efficiency and security of managing complex payment needs in the gambling sector.
Hoppa! Card’s flagship products, including the Exclusive Global Soft KYC High Limit Crypto Offramp VISA Card and the Unique Payment Gateway, are designed to meet the most challenging payment requirements. The VISA Card offers high limits and the highest possible privacy standards with anonymous cards, ensuring global accessibility with both virtual and physical card options. The Payment Gateway provides seamless processing for various crypto and fiat transactions, eliminating chargebacks and non-acceptance of cards, while catering to all gaming licenses and jurisdictions.
Stephen Crystal, Founder and CEO of SCCG Management, said: “Partnering with Hoppa Card allows us to provide our clients, as well as our global network of operators and platform providers, with crypto-focused payment solutions that are crucial in today’s fast-evolving gaming industry. Their innovative products align perfectly with our mission to drive strategic growth and maximize revenue for our partners.”
Igor Lavrih, CEO of Hoppa Card, said: “We are excited to kick off the partnership with SCCG, merging our payments expertise with their deep market insights to explore new opportunities and drive innovation. We look forward to the synergies our partnership with SCCG will bring forward, delivering unique payment solutions in the gaming industry to an array of growing and established businesses.”
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