Cryptocurrency
Crypto Bets Drop 14.6% While Ether Grows its Share: SOFTSWISS Sums up Ambiguous 2022
The unstable climate of the last year’s global developments has affected various business sectors related to cryptocurrencies. The iGaming industry was no exception. To predict the future for cryptocurrencies, it is first worth addressing and dealing with the outcomes of 2022. SOFTSWISS, a leading tech provider for iGaming, has analysed the past year’s data to share an expert crypto report with the industry.
A pioneer in crypto gambling with its Crypto Casino Solution and 10 years of market expertise, SOFTSWISS quarterly analyses the crypto market to share insights with the industry. The tech-savvy developer presents its newest report analysing the crypto results of 2022 versus 2021, based on the data from 700 clients of the Game Aggregator and the Casino Platform by SOFTSWISS.
2022 VS 2021
Despite the last year’s fluctuations on the crypto market, the total bets, including those in fiat money and digital coins, made on the supplier’s platform increased by 31% compared to 2021. The gross gaming revenue, that is the difference between the amount wagered and the amount won, also showed a growth of 36% YoY.
In Q2 2022, the total bets passed the 20 billion euro mark. The indicator continued to grow steadily each quarter until the end of 2022. The average total bets increased by 35% QoQ. In comparison with 2021, the quarterly average GGR increased 2.7 times, having reached 38% of growth.
Vitali Matsukevich, Chief Operating Officer at SOFTSWISS, comments: “The fact that we see an increasing number of new fiat projects does not diminish the power of the already established worldwide community of crypto players. They became a strong drive for iGaming operators to implement and expand payment methods supporting digital coins. iGaming tech providers will still be focused on developing new crypto-centric tools. For example, we’ve launched the In-Game Currency Conversion feature allowing the crypto audience to enjoy all available games through automatic conversion of digital coin bets into fiat wagers.”
FIAT VS CRYPTO
Compared to 2021, the overall amount of crypto bets decreased by 14.6% to 20.2 billion euro. The 3.5 billion euro drop on the crypto side influenced the fiat share growth. By the end of 2022, the total fiat bets accounted for 76% of the total player bets.
MOST USED DIGITAL COINS
Despite dropping over 60% in price in 2022, Bitcoin is still in the lead, accounting for 72.7% of the total crypto bets. At the same time, this digital coin has lost 7.4 p.p. since 2021. Ethereum has improved its popularity among players, gaining 3.7 p.p.
Reviewing 2022, the top 3 most used cryptocurrencies are:
- Bitcoin – 72.7%
- Ethereum – 13.6%
- Litecoin – 5.5%
The detailed breakdown, including DOG, USDT, and BCH, is available in the report.
Vitali Matsukevich, Chief Operating Officer at SOFTSWISS, summarises: “As opposed to 2021, which was rewarding for digital currencies and NFTs, 2022 has not brought similar results. We are optimistic about 2023 and confident that players won’t stop choosing crypto because of its transaction speed, anonymity, and decentralised nature. Despite all digital coin fluctuations, crypto has already gained a significant share among players and operators and has become an integral part of the market. For this reason, SOFTSWISS is continuing to strengthen its partners’ projects, whether fiat or crypto, with new innovative tools and solutions, providing operators with security, reliability and top-level service.”
About SOFTSWISS
SOFTSWISS is an international iGaming company supplying certified software solutions for managing gambling operations. The expert team, which counts 1,500+ employees, is based in Malta, Poland, Georgia, and Belarus. 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.
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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