Cryptocurrency
“Operators demand access to new markets and new player bases”: Exclusive crypto gambling interview with Glen Bullen from DAOGroup.
While this year may have been a turbulent time for some, we caught up with Glen Bullen, CCO of DAOGroup to talk through the launch of DAOWallet, its cryptocurrency-fiat payments partner, as well as the opportunity to use crypto payments as a key way to engage new players.
What is it that DAOWallet can offer partners and end users that other payment service providers cannot?
DAOWallet may be new to market, but our team has incorporated many crypto payment learnings into the product to make it a slick, client-driven solution for operators looking to engage new demographics and markets.
In essence, DAOWallet offers a simple, clean solution for partners wanting to integrate crypto payments into their casino brands. We do all the heavy lifting and compliance work at our end, so operators can work hands-off on the payments side and focus on driving acquisition to a new audience of crypto users.
Perhaps DAOWallet’s biggest innovation is its ability to track fund provenance, both to mitigate AML risks, but also to improve VIP management. Any player who deposits crypto via DAOWallet will have their pseudo-anonymous source of funds tracked, ensuring both VIP and AML managers alike will know if this is a player prime for big stakes play, or alternatively whether they’ve been associated with red flag transactions in the past.
How can those with little crypto knowledge use DAOWallet to join the crypto gambling revolution?
The key purpose of DAOWallet is to allow deposits and withdrawals to and from a players crypto account to be as simple and seamless as possible. With that, we feel we offer a solution that requires only a minimum of crypto knowledge.
However, the wallet’s role is not necessarily to entice new players to crypto – though it can – but instead to deliver a functionable, painless means to support the millions out there who already hold and use crypto; and, most importantly, want to gamble with it at the best casinos around.
Do you see DAOWallet appealing to a certain demographic or region?
Without pigeon-holing an ever-expanding crypto base, industry research shows the main European demographic as being between 25 and 45 years of age and with above-average disposable income. This audience sees digital assets as more than a speculative asset, and want to find functional day-to-day uses for them, with gaming arguably the most tangible use case for them at this moment.
Saying that, DAOWallet easily supports varied requirements across any global market, such as Latin America, where concerns regarding banking infrastructure warrant the use of alternatives to fiat; or Africa, where barriers to credit card uptake mean many are keen to explore alternative online payment methods.
No matter the geography or demographic, our igaming clients can be confident DAOWallet will be covering all KYC and AML procedures in the backend on sign-up, ensuring a clean transition to the casino, which receives only whitelisted players. This is a major benefit of our solution over others on the market.
How do you see the current state of the payments sector in the gambling industry?
We hear so often that gambling as an industry is an early adopter for new technology. All the while however, there’s untold examples of cautious decision-making and sluggish, suspicious adoption of tech that could have major benefits to the whole ecosystem.
There is no doubt that the payments sector is impacted by this paradox, and the utilisation of crypto is a key example. Operators demand access to new markets and new player bases, and there is a crypto market hiding in plain sight, waiting to be serviced. They must take advantage of this opportunity, or they will fall back against their more forward-thinking competitors.
Do you see wider crypto adoption as attainable right now, or do other industry movements need to happen to facilitate wider crypto payments?
Yes, it is attainable, but various ways of thinking need to be reset for crypto adoption to reach its potential. It’s likely not a gambling industry-specific mentality, but too many look back at setbacks in the space and cling onto them as proof that crypto doesn’t have its place in today’s world.
This is naïve when you consider the various success stories that crypto has in engaging those who cannot access credit cards, those who may not trust the status quo and those who just want to be a little more progressive. I would like those doubters to take a deep breath and revisit what crypto adoption can do for the gambling industry.
As a deposit method, using the likes of bitcoin and Ether is a no-brainer for supporting bigger audiences in more markets. Those operators who don’t embrace it soon will likely find they have lost this lucrative audience and will struggle to win them back.
We have seen DAOWallet recently sign a major partnership with MoneyMatrix. Do you have any other partnerships on the horizon that you could hint at?
MoneyMatrix was a major deal for us and shows the strength of partner that we are looking at. In terms of what is coming next, we’re optimistic about various, progressed conversations with further platforms and a number of tier one operators in a variety of regions. Without naming names, there is a desire amongst potential partners to complement their existing payment partners to attract a new kind of customer, and that’s what we’re here for.
We’re well set to make some big announcements in Q4 in terms of new clients and operators, so keep an eye out for that.
What product improvements can we expect from DAOWallet in the coming months?
Our most recent launch was stablecoin integration, and this will go live with partners to great effect very soon. Not only are we opening more crypto avenues (Tether/TrueUSD) for those looking outside of the bitcoin and Ether hegemony, but it also makes our platform more adaptable to local banking regulation.
Significantly, this was driven by client feedback and demand, and we delivered it back to those same partners quickly and successfully, further proving our credentials as a customer-first partner. We know the size of the crypto gambling space and we want to help fiat-based operators leverage it for their own growth, and it’s through these collaborative projects that we can best do this.
Cryptocurrency
SOFTSWISS Named Crypto Company 2024
Crypto Company of the Year was announced at the International Gaming Awards in London. SOFTSWISS, a leading technology company with 15+ years of experience in the industry, gets this title for the second year in a row.
Marking the beginning of ICE London, the awards ceremony has brought together top names in the iGaming industry to honour their achievements. The International Gaming Awards not only unites experts and gaming enthusiasts worldwide but also serves as the pinnacle charity event of the year.
The Crypto Company of the Year category recognises companies that create innovative experiences for clients in the gambling sector with a focus on crypto. The winner is determined by evidence showcasing the company’s standout performance in the crypto space compared to competitors. Reconfirming the previous year’s success, SOFTSWISS emerged as the Crypto Company of the Year for the second time in a row.
Securing the title of Crypto Company of the Year comes naturally to SOFTSWISS, the trailblazer in introducing crypto-friendly solutions for online gaming. Beginning with Bitcoin, SOFTSWISS has expanded its cryptocurrency offering to nearly 20 digital coins since 2013.
In its dedication to improving player experience, SOFTSWISS introduced the In-Game Currency Conversion feature. The innovation allowed players with crypto holdings to engage seamlessly in games originally tailored for fiat only. One year post-launch, 85% of all bets in crypto casinos powered by the SOFTSWISS Casino Platform were made via the feature.
As an expert in crypto-friendly solutions, the company shares its expertise through the quarterly State of Crypto reports and topical podcasts. This helps raise awareness among all stakeholders, offering essential insights for strategic decision-making.
Andrey Starovoitov, Co-CEO at SOFTSWISS, shares: “We are delighted to receive this award, and it signifies more than just recognition for our recent achievements. The title of Crypto Company of the Year holds deep meaning for those who led the way in integrating digital currencies into iGaming, actively advocate for crypto solutions, and generously share expertise in this field.”
About SOFTSWISS
SOFTSWISS is an international tech company supplying software solutions for managing iGaming projects. The expert team, which counts over 2,000 employees, is based in Malta, Poland, and Georgia. 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.
Cryptocurrency
Casino Market Industry Forecast Reveals Surge to $165.72 Billion by 2028 with Digital Transformation and Cryptocurrency Integration
The “Casino Global Market Report 2024” report has been added to ResearchAndMarkets .com’s offering.
The latest report on the global casino market highlights significant growth, with expectations for the industry to swell from $131.42 billion in 2023 to an impressive $165.72 billion by 2028, at a compound annual growth rate (CAGR) of 4.6%. The report offers a comprehensive analysis of current market dynamics, future trends, and potential opportunities, positioning it as an essential resource for stakeholders in the casino sector.
The casino industry, experiencing a renaissance through digitization and a shift towards online gambling, is witnessing the rising popularity of cryptocurrency casinos. Innovations, alongside a deepened focus on responsible gambling, are propelling market growth, drawing attention from both established players and new entrants.
Key Market Dynamics Influencing Growth
- Online Gambling Expansion
- Smartphone Proliferation
- Innovative Casino Products
- Strategic Industry Partnerships
The report underscores the growing dominance of the Asia-Pacific region in the global casino market, bolstered by evolving consumer behaviors and burgeoning tourism sectors. The detailed geographic assessment provides strategic insights into the vitality of various regions within the industry.
Gambling machines, gaming tables, and novel casino experiences are discussed in the report. The document leverages industry-specific metrics to provide a nuanced understanding of segment performance, addressing both offline and online modalities.
Industry Leaders Making Strategic Moves
With major corporations like 888 Holdings PLC and Caesars Entertainment Corporation, the casino market is rife with tactical mergers, acquisitions, and partnerships aiming to solidify market positioning and leverage collective strengths.
The global casino market research report presents in-depth market analysis, reflecting cutting-edge industry trends such as the integration of advanced gaming technologies. It also spotlights operational strategies and expansion plans of front-runners in the gambling domain.
This comprehensive research report is poised to be an indispensable tool for industry investors, strategists, and stakeholders planning to navigate the complex terrain of the casino industry with data-driven confidence.
The casino market research report is devised to serve a diversity of informational needs, offering a meticulous examination of the interplay between market forces, technological advancements, and consumer preferences shaping the future of gambling worldwide.
Please note, the market value detailed in the report represents the actualized revenues recognized by entities within the industry over the specified period and geography.
A selection of companies mentioned in this report includes
- 888 Holdings plc
- Boyd Gaming Corporation
- Caesars Entertainment Corporation
- Melco Resorts and Entertainment Limited
- Delaware Park Casino & Racing
- Eldorado Reno Resort Casino
- Foxwoods Resort Casino
- Galaxy Entertainment Group Ltd.
- Golden Nugget Atlantic City Hotel Casino & Marina
- Harrington Raceway & Casino
- LC International Limited
- MGM Resorts International
- Palms Casino Resort
- Penn Entertainment Inc.
- Bally’s Corporation
- Churchill Downs Incorporated
- Genting Group
- Golden Entertainment Inc.
- Hard Rock International Inc.
- SJM Holdings Limited
- Station Casinos LLC
- Star Entertainment Group Limited
- Tropicana Entertainment Inc.
- Wynn Resorts Limited
- Las Vegas Sands Corp.
- Red Rock Resorts Inc.
- Eldorado Resorts Inc.
- Monarch Casino & Resort Inc.
- Pinnacle Entertainment Inc.
- Isle of Capri Casinos Inc.
Blockchain
After Crossing 100,000 Active Users, Hypeloot.com Announces The Launch of Its Utility Token $HPLT
Hypeloot was established in 2022 and has processed over 50 million bets for over 100.000 Users worldwide, being one of the fastest growing Cryptocurrency casinos, releasing new game modes almost every week and a recent surge in growth which is likely to accelerate.
Hypeloot Originals cross 50 million bets mark
With new game mode additions, the number of daily bets and also bets placed per user is increasing by the day. Hypeloot adds some of the most popular Casino games but is also not afraid to add an innovative touch to the platform by developing new games that are gaining a lot of popularity, for example, the Plinko game with a 100.000X multiplier, making it the first-ever Plinko game with this high of a multiplier which is not only something innovative for the Gambling industry but also a great marketing tool as users always try to chase high multipliers.
Hypeloot .com profit share with $HPLT holders
All $HPLT holders will indirectly profit from the rampant Hypeloot .com growth and its already increasing profitability via daily buyback & burn events. Hypeloot profits will automatically go towards purchasing $HPLT tokens on the open market and burning them right after – on a daily basis!
The Hypeloot $HPLT Token
The $HPLT Presale will start the 1st of February at 15:00 UTC directly on presale.Hypeloot .com, the presale is split into different stages in which the first investors get the cheapest possible price and are also eligible for the Hype NFTs which will be tradable right on token launch. 40% Of the total supply will go towards Presale contributors, rest is split between liquidity, marketing, team, airdrops and more. All Team tokens will be locked and vested on a transparent level.
Fueling The Hypeloot Ecosystem
Hypeloot is one of the only Crypto casinos offering Fiat payment gateways and all major payment providers making it easy for every user. On top of that, Hypeloot also currently offers all major Cryptocurrencies for deposits and withdrawals. All Games are 100% provably fair with an open and transparent guide on how to check each roll, the EOS and Chainlink Blockchain hashes are being used to generate 100% randomness.
Hype NFTs
Hype NFTs are the official NFTs of Hypeloot .com ($HPLT), it will initially only be available to presale contributors, on launch, these NFTs can then be traded, bought, sold and used on Hypeloot .com for free bets, staking pools, increased rakeback and much more. These NFTs are strictly limited and will not be minted more than the given supply.
Hypeloot .com Numbers and Outlook
Hypeloot has generated over $1 Million in revenue in 2023, given that regular slot and live casino games will be added soon, it is expected to have a significant surge in the coming weeks as this is anticipated by a lot of current users, this new addition also open the door to a lot of new user acquisition as well as higher profit per user given all the new game modes.
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