Cryptocurrency
The future of crypto gambling: how SOFTSWISS is driving the iGaming industry forward
Cryptocurrency and blockchain technologies have had a significant impact on the development of the iGaming industry and online betting particularly in recent years. The first to see the potential of cryptocurrencies in gambling was SOFTSWISS, an international company with Belarusian roots.
“SOFTSWISS as a fast growing company has always been interested in new technology and innovation. We had been closely following the development of cryptocurrency since 2011,” says Ivan Montik, the Founder of SOFTSWISS. — “We had a fairly young company at the time and an equally ambitious team. So we decided to focus on developing crypto solutions for classic casino and in the spring of 2013 added special features for the SOFTSWISS Online Casino Platform and processing for bitcoin gambling. There was nothing like it on the market at that time except for a few one-page dice games.”
SOFTSWISS was the first in the world to offer the B2B market a turnkey crypto solution for running a casino. This coincided with the crisis in Cyprus, when bitcoin showed serious growth and drew attention as an interesting tool not only for geeks and IT professionals, but also for businesses. However, in iGaming cryptocurrency was still considered a dark horse. Even the seasoned players of the gambling industry did not know or understand the full potential of the new currency at the time.
“Initially, SOFTSWISS was the first to introduce bitcoin and blockchain into the operation of gambling,” notes Andrey Starovoitov, Chief Operating Office at SOFTSWISS. — “It was SOFTSWISS that first recommended providers to include cryptocurrencies in the list of currencies available in casino games to accept bets.”
“We were the ones who first sponsored and helped organise the bitcoin seminar at the ICE Totally Gaming conference in London in 2014, where there were panel discussions and I spoke to the iGaming guys,” Ivan continues. — “We tried to tell the industry that it was cool and to open their eyes to the fact that cryptocurrencies were the future of iGaming. The main objective was to convince providers to add bitcoin as a full-fledged betting currency without exchanging it for euros.”
The pioneers in crypto gambling were Bitstarz, 7Bit Casino and BetChain, well-known and successful companies now. These were the first brands to start taking bets in bitcoin, taking advantage of the SOFTSWISS Online Casino Platform and cryptocurrency solution.
This segment of the casino industry existed separately for a long time, until the year 2020-2021 when a radical change occurred. This is when so-called ‘dice sites’, which were not online casinos in the classical sense, but offered players their in-house developed games: roulette, crash games, etc., came into the limelight. One of the important components of these companies was the provably fair feature, based on cryptographic algorithms, which allowed players to verify the outcome of a bet. Among them were crypto gambling giants such as Stake and BC.Game.
“Dice sites have long been known in the industry, but have always had an isolated place amongst other iGaming projects. We saw great potential in collaborating with them and expanding their gaming content. So we decided to use the knowledge we already had and offer them a complete ecosystem of products, including Game Aggregator, Affilka and Sportsbook. So in 2020 the SOFTSWISS Game Aggregator partnered with several new crypto projects — Stake .com, Roobet, BC.Game, Rollbit. Their performance has been staggering. In the first few months, the count was in the millions of GGR. There is no other example in my practice of gaining momentum and showing such rapid growth,” says Andrey.
“We started communicating with them, offering to diversify their content with SOFTSWISS, adding to their existing games hundreds of new brands, brought together in the SOFTSWISS Game Aggregator. We had a large set of providers that, thanks to their cooperation with SOFTSWISS, were open to cryptocurrency betting. So since our partnership, crypto betting rates have been breaking one record after another,” adds Ivan.
One of the benefits of the dice sites has been the use of more effective marketing tools borrowed primarily from cybersports (CS:GO, Dota 2). Created by guys who knew these games and their audience from the inside, they offered the younger generation exactly what they wanted: engagement, demonstration of skills and elements of competition with rivals, rather than slots that produce results you cannot influence. New brands have learned how to attract and retain this audience in online casinos through new formats, gamification and niche social platforms such as Twitch streaming.
“We are seeing a landmark shift in the gambling audience. It is getting younger whereas classic casino brands are mainly geared towards the mature player. The competitive element is very much in favour of and attracts the younger generation,” Andrey concludes. — “It can be easily seen by the popularity of eSports and games where several people can play at the same time. And while marketing experts in many companies are struggling with the question of how to attract a young audience, the new brands have already found a way to do it.”
“What we are seeing now is the second wave of crypto gambling that has already come to us. Cryptocurrencies and blockchain are the reality that can no longer be denied. There are still a lot of opportunities for development in this field. Unfortunately, there is often no space for innovation due to strict licensing and regulation. And that leaves the entire industry at a disadvantage. — “But SOFTSWISS already offers innovative and unparalleled solutions for crypto gambling. You just have to take advantage of them if you want to be on the crest of the new wave, rather than watching the most interesting things unfold from the shore.”
NBA superstar Tristan Thompson is the latest big name to partner with Sportsbet.io, the world’s favorite crypto-first sports betting site, as its newest global ambassador.
Thompson, a Cleveland Cavaliers center and 2016 NBA Championship winner, will bring his star power and passion for cryptocurrency to the Sportsbet.io community for the next two years.
The Canadian basketball legend will be sharing his views on the latest action for Sportsbet.io, where fans will have the opportunity to take part in some exclusive promotions.
Tristan Thompson, Sportsbet.io ambassador, said: “Sportsbet.io brings together my two biggest passions: sports and cryptocurrency. I’ve been following the crypto sector for some time now and have seen how transformative it can be. There’s no better place to combine that with my love of sports than Sportsbet.io.”
Shane Anderson, Director Partnership, Content and Brand, Yolo Entertainment, the operator of Sportsbet.io, added: “We’d like to give a huge Sportsbet.io welcome to Tristan, an elite athlete whose passion for both basketball and cryptocurrency makes him a perfect match for us. We’re thrilled to have him on the team, and we already have some exciting plans in the works. Watch this space.”
Thompson’s crypto credentials are already well established; he’s been a vocal supporter of Bitcoin, and recently celebrated as it reached a new all-time high in price.
He will be providing weekly betting tips on a range of sports, including NFL, MLB, European soccer, tennis, golf, UFC and boxing.
The partnership with Thompson marks another exciting new chapter for Sportsbet.io, which has earned a reputation for both its innovative approach to gaming, and its star-studded line-up of ambassadors, including cricket legend Brett Lee, Kenyan rapper King Kaka and many more.
Sportsbet.io is also an official partner of LALIGA and Newcastle United.
The post NBA star Tristan Thompson signs for Sportsbet.io appeared first on European Gaming Industry News.
Rivalry Corp. (the “Company” or “Rivalry”) (TSXV: RVLY)
(OTCQX: RVLCF) (FSE: 9VK), the leading sportsbook and iGaming operator for digital-first players, today announced it has added U.S. President-elect Donald Trump’s official Solana cryptocurrency ‘$TRUMP’ as an accepted payment method.
Ahead of the U.S. Presidential Inauguration on January 20th, Rivalry users are now able to deposit and wager using $TRUMP, a cryptocurrency on the Solana blockchain which currently has a fully diluted value of over USD $30 billion. The addition of $TRUMP as a payment method on Rivalry comes less than 24 hours after the President-elect released the cryptocurrency on Friday evening.
”Meme coins are attention monetized, and the release of $TRUMP just days before an Inauguration is a quintessential internet and crypto culture-driven moment which enabled it to eclipse $30 billion in fully diluted value shortly after its debut” said Steven Salz, Co-Founder and CEO of Rivalry. “Rapidly deploying $TRUMP as a deposit method in less than 24 hours is a testament to our ability to identify and lean into these universal cultural moments, layer it into our core crypto gambling experience, and deliver first-of-its-kind experiences to our users.”
Additionally, Rivalry customers wagering on-site with $TRUMP will receive exclusive rewards through February 1, 2025 in recognition of the upcoming Presidential Inauguration, including multiplying the amount of NUTZ–the Company’s native token–players earn on every bet by 20x, a reflection of the inauguration on Monday, January 20, 2025.
With the acceptance of $TRUMP, along with a number of other major cryptocurrencies as part of Rivalry’s crypto-first approach, the Company has ongoing treasury holdings of various major cryptocurrencies and meme coins that it accepts as a deposit option. The Company will continue to add additional cryptocurrencies as needed to support its player base and continual expansion into the crypto gambling segment.
$TRUMP as a payment method will be available to Rivalry users in jurisdictions which apply to the Company’s Isle of Man license only.
The post Rivalry Adds $TRUMP Meme Coin as Crypto Payment Method appeared first on Gaming and Gambling Industry in the Americas.
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.
Exploring Every Poker Variation: A Complete Guide to the Game’s Endless Possibilities
BMM Testlabs Earns Accreditation in Maranhão, Brazil To Test Fixed Odds Betting Systems and Lottery Platforms
Meridianbet CEO Showcases GMGI’s $163M FY2024 Revenue, USA & Brazil Entry at ICR 2025 Conference
Shaping the Future of Esports: ICE Esports Arena provides essential insights
The Impact of Seminole Tribe Casinos on Florida’s Poker Economy
GamCare releases Annual Report following record breaking year of support on the National Gambling Helpline
Saracen Casino Resort Chooses QCI Chatalytics to Enhance Casino Operations with Integrated AI Solutions
WA.Technology makes its debut in Brazil’s regulated market
EGT Digital’s top-performing titles are live on the leading Colombian betting site Betplay
BETBY TO INTRODUCE INDUSTRY-FIRST AI-BASED FEED AT ICE BARCELONA
-
gaming2 years agoODIN by 4Players: Immersive, state-of-the-art in-game audio launches into the next generation of gaming
-
EEG iGaming Directory8 years ago
iSoftBet continues to grow with new release Forest Mania
-
News7 years ago
Softbroke collaborates with Asia Live Tech for the expansion of the service line in the igaming market
-
News6 years ago
Super Bowl LIII: NFL Fans Can Bet on the #1 Sportsbook Review Site Betting-Super-Bowl.com, Providing Free Unbiased and Trusted News, Picks and Predictions
-
iGaming Industry7 years ago
Rick Meitzler appointed to the Indian Gaming Magazine Advisory Board for 2018
-
News6 years ago
REVEALED: Top eSports players set to earn $3.2 million in 2019
-
iGaming Industry7 years ago
French Senator raises Loot Boxes to France’s Gambling Regulator
-
News7 years ago
Exclusive Interview with Miklos Handa (Founder of the email marketing solutions, “MailMike.net”), speaker at Vienna International Gaming Expo 2018
