Leading online gambling software provider, SoftSwiss, has today unveiled detailed analysis of its cryptocurrency gambling data and reports for the previous twelve months, along with predicted forecasts for the remainder of 2022.
The data has been compiled by the betting and gaming specialist from two of its core products, SoftSwiss Game Aggregator and SoftSwiss Casino Platform, and provides insight to crypto gambling activities in the digital world.
Overall, the analysis shows that there has been an increase in the number of bets being placed using cryptocurrencies and that trends are growing consistently, particularly with online casino players.
Throughout the twelve month period, the number of bets had almost doubled at the end of the year compared with the beginning, and the volume of crypto bets had also increased substantially.
According to reports, the benefits of cryptocurrency gambling are becoming more apparent in the modern iGaming world, including transaction speed and increased boundaries, and that the constant growth within the industry shows no signs of slowing down, especially due to the array of mutual opportunities for operators and players alike.
Additionally, although standard fiat money is still the number one choice in online gambling, cryptocurrency is consistently chipping away at the market-share.
In light of this, the analysis shows that traditional currency gambling has decreased by more than twenty percent, whilst bets placed using a cryptocurrency have risen by a similar margin of twenty percent across the twelve month period.
This is, in part, due to the many benefits and advantages cryptocurrencies hold over traditional fiat money, such as convenience and speed, along with a growth in trust and reliability from the digital currency processing platforms.
As you would expect, Bitcoin is still the number one crypto in online gambling and the reported data shows that it dominates the market-share by some eighty-percent, with Ethereum and Litecoin in second and third, with almost ten and five percent respectively.
Of course, it is difficult to know whether or not the data, statistics and trends would be echoed globally across all platforms and outlets, outside of the SoftSwiss platform solutions.
However, with more gambling operators on board the crypto train, this is likely to be the case, particularly due to the rise of software providers embracing cryptocurrencies in their game development process, including market leader BGaming, Platipus and Evolution Gaming among others.
Andrey Starovoitov of SoftSwiss commented on the analysis and data of crypto gambling and outlined what it means for the present and future of online gambling:
Cryptocurrencies have long been not just a trend in the gambling industry, but an obvious stage in its evolution.
With significant benefits related to transaction speed, as well as wide market boundaries, the use of cryptocurrencies opens up significant opportunities for both players and operators. This leads to their constant growth.
Those industry representatives who won’t develop their business in this direction in the near future risk losing a competitive advantage in the “battle” for users. Our statistics clearly demonstrate this.
Cryptocurrencies have long ceased to be an attribute of IT geeks . This is a global phenomenon and its impact on the global economy cannot be denied.
The iGaming market is adapting to a new reality in which cryptocurrencies will become as important (if not more important) than fiat in the next couple of years.
Convenience, speed, and usability are their huge advantages. SOFTSWISS took into account all these factors and created an entire ecosystem for its clients, which, in part, is made possible by the Crypto-processing solution by CoinsPaid.
Cryptocurrency allows casino and dice site operators to work with a young audience. In this regard, the SOFTSWISS Crypto Solution will become an indispensable tool that adapts classical operating models to modern requests.
We have every reason to believe that the share of cryptocurrencies will continue to grow this year and, accordingly, will open up even more opportunities for iGaming representatives.
In turn, we have experience, innovation and expertise to help both newbies and experienced players in the market to make the most of these opportunities.