Cryptocurrency
Crypto Trends in iGaming: SOFTSWISS Insights
SOFTSWISS presents a report with statistics and insights on the development of cryptocurrency across its Online Casino Platform, Sports Betting Platform and Game Aggregator clients. The information in the report reflects comparative data for the third quarter of 2021 and the same period in 2020, collected on an anonymous basis.
TOTAL BETS IN CRYPTO
The main conclusion drawn from the data obtained for Q3 2021 is that the volume of bets placed in cryptocurrency is increasing. Compared to the same period last year, the increase was 2.8 times. The positive trend continues throughout 2021: the increase from Q2 2021 to Q3 2021 is 28%.
“This strong growth is not only due to SOFTSWISS’ organic development but also owes itself to increased digital consumption around the world. iGaming companies are investing more and more into marketing. This leads to an increase in the popularity of online gaming and betting among female audiences and young players over the age of 21 who actively use cryptocurrencies in their daily lives in general and for online betting in particular. This is reflected in the increasing share of crypto in iGaming”, comments Andrey Starovoitov, COO at SOFTSWISS.
CRYPTO VS FIAT
Crypto is gradually encroaching on fiat currencies. Compared to Q3 2020, the share of bets in crypto versus fiat has increased by 27.6 percentage points in the same period in 2021. The upward trend in crypto popularity is also confirmed by comparative data for Q2 and Q3 2021, when the share of crypto bets rose by 10.3 percentage points from 33% to 43.3% respectively.
Andrey Starovoitov, COO SOFTSWISS, notes: “This dynamic is most likely due to the growth and development of the number of crypto brands. While in Q3 2020, they were still newcomers to the market, they can be considered experienced players in the crypto gambling industry this year. The expansion of these brands into new markets has also played an important role in this.”
CRYPTO VS FIAT: SPORTSBOOK
A completely different trend is seen in betting on sports. In this category, fiat currencies retain an absolute advantage. In Q3, 98.76% of bets were made in fiat currencies, compared to only 1.24% in crypto.
Aleksander Kamenetskyi, Sportsbook Product Owner, notes: “This is most likely because the vast majority of the Sportsbook’ clients are those companies that launched their casinos without an initial focus on cryptocurrency operation. Their main focus was on fiat. However, the trend has changed, and now cryptocurrencies are always considered an important component when launching new projects. Therefore, I am sure crypto share will only grow in the future.”
See which cryptocurrencies are favoured between casino and sports betting players in the full report SOFTSWISS Crypto Insights Report.
About SOFTSWISS
Based on the Online Casino Platform and CoinsPaid wallet management and payment processing, the Crypto Solution makes for the single best way to launch a crypto-powered gaming project.
SOFTSWISS is an international tech brand supplying widely acclaimed, certified software solutions for managing iGaming operations. SOFTSWISS holds a number of gaming licenses, providing one-stop-shop iGaming solutions. The company has a vast product portfolio, which includes an Online Casino Platform, Game Aggregator with thousands of casino games, the Affilka affiliate platform, and Sportsbook Platform. In 2013 SOFTSWISS was the first in the world to introduce a bitcoin-optimised online casino solution. The company has since been regarded as the leading technical expert when it comes to the use of cryptocurrencies in online gaming.
BitLine
BitLine Enhances Onboarding Experience in Collaboration with Jumio: Simplified KYC for Casino Patrons
This collaboration emphasizes convenience, security and regulatory compliance
Through the BitLine app, users can seamlessly transact with up to US$10 million in casino chips 24/7
BitLine, a pioneering provider in the integration of digital assets for direct access to casino chips, proudly announces a strategic alliance with Jumio, an industry leader renowned for its comprehensive know-your-customer (KYC) solutions.
This partnership marks a significant milestone as BitLine streamlines its onboarding process for casino patrons, ensuring a seamless and secure journey into the realm of digital asset-based payments for gaming.
The collaboration between BitLine and Jumio signifies a commitment to delivering unparalleled convenience while upholding the highest standards of security and regulatory compliance. By leveraging Jumio’s advanced technology, BitLine reinforces its dedication to building trust among users and offering a frictionless experience for individuals seeking access to casino chips via digital assets.
Richard Jones, the Chief Executive Officer for BitLine by Ibanera, expressed enthusiasm about the partnership, stating: “Trust and compliance are the cornerstones of every successful casino venture. At BitLine, our vision to innovate this industry through digital assets hinges on maintaining trust and adherence to regulations. Our collaboration with Jumio represents a monumental stride towards achieving this vision, ensuring that casino patrons transact securely and confidently through our platform.”
Echoing this sentiment, Robert E Prigge, the Chief Executive Officer for Jumio, commented: “The evolving landscape of digital assets presents endless possibilities and BitLine’s innovative approach has reshaped the casino industry. By eliminating withdrawal limitations and expanding accessibility, BitLine has ushered in a new era of gaming. We are thrilled to contribute to BitLine’s journey by providing essential elements of security and compliance.”
BitLine by Ibanera grants cryptocurrency owners unprecedented access to up to US$10 million in casino chips, 24/7/365, serving as a conduit for liquidity on the casino floor. Through the intuitive BitLine app, casino enthusiasts worldwide can initiate transactions within minutes, leveraging their digital assets to unlock funds effortlessly.
Cryptocurrency
Payhound empowers LSports with a seamless solution to receive payments
The post Payhound empowers LSports with a seamless solution to receive payments appeared first on European Gaming Industry News.
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.”
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