Cryptocurrency

The Growing Influence of Bitcoin in the European Gaming Industry

Published

9 months ago

July 27, 2023

Reading Time: 3 minutes

The European gaming industry has been experiencing a significant shift in recent years, with the growing influence of Bitcoin and other cryptocurrencies.

This digital currency has gained popularity among online gamblers due to its decentralized nature, low transaction fees, and anonymity. As a result, a number of crypto online casino sites have emerged, catering specifically to players who prefer to use Bitcoin for their gambling activities.

Crypto Online Sites

1. Bitstarz Casino

Bitstarz Casino is one of the leading crypto online casino sites in Europe. It was established in 2014 and offers a wide range of casino games, including slots, table games, and live dealer games. Bitstarz accepts various cryptocurrencies, including Bitcoin, Bitcoin Cash, Ethereum, and Litecoin.

The site provides a secure and user-friendly platform, with fast withdrawals and 24/7 customer support. Additionally, Bitstarz offers attractive bonuses and promotions for both new and existing players, making it a popular choice among crypto gambling enthusiasts.

2. FortuneJack

FortuneJack is another prominent crypto online casino site that has gained a strong foothold in the European gaming industry. The platform offers an extensive collection of games, including slots, dice, blackjack, and live casino games.

FortuneJack supports multiple cryptocurrencies, including Bitcoin, Ethereum, Dogecoin, and Litecoin. The site is known for its provably fair gaming, ensuring transparency and fairness for its players. With its sleek design, user-friendly interface, and competitive bonuses, FortuneJack has become a preferred destination for Bitcoin gambling enthusiasts in Europe.

3. 1xBit

1xBit is a crypto-focused online casino and sportsbook that has gained popularity among European players. The site offers a vast selection of casino games, including slots, card games, and live dealer games.

In addition to traditional casino games, 1xBit provides an extensive sports betting platform, allowing players to place bets on a wide range of sports events using cryptocurrencies. The site supports numerous cryptocurrencies, including Bitcoin, Ethereum, Ripple, and many more.

With its diverse gaming options, secure platform, and quick withdrawals, 1xBit has become a top choice for European gamblers looking to utilize their Bitcoin holdings.To know more about 1xBit, and other high quality casinos, read here.

Industry Trends

The rise of Bitcoin in the European gaming industry has sparked several trends that are reshaping the landscape of online gambling. Here are some noteworthy industry trends:

1. Increased Adoption of Cryptocurrencies

The influence of Bitcoin in the European gaming industry has led to an increased adoption of cryptocurrencies by online casinos. Many traditional online casinos have started accepting Bitcoin as a payment method, alongside fiat currencies. This adoption is driven by the desire to cater to a growing segment of players who prefer using cryptocurrencies due to their benefits, such as faster transactions and enhanced privacy.

2. Emergence of Crypto-Specific Game Developers

The growing demand for crypto gambling has given rise to a new wave of game developers specializing in creating games for cryptocurrency-based casinos. These developers are leveraging blockchain technology to build provably fair games that provide a transparent and tamper-proof gaming experience. By utilizing smart contracts and decentralized systems, these game developers are revolutionizing the fairness and security of online gambling.

3. Integration of Blockchain Technology

Blockchain technology, the underlying technology behind Bitcoin and other cryptocurrencies, is being integrated into various aspects of the online gaming industry.

Blockchain-based platforms are being developed to enable secure and transparent transactions, protect players’ identities, and prevent fraud. Additionally, blockchain technology allows for the creation of non-fungible tokens (NFTs), which can be used to enhance the gaming experience by providing unique in-game assets and collectibles.

4. Regulatory Challenges and Opportunities

As Bitcoin and cryptocurrencies gain prominence in the European gaming industry, regulators are grappling with the need to establish clear guidelines and regulations. While some countries have embraced cryptocurrencies and developed frameworks to govern their use in online gambling, others are still in the process of formulating policies. Clear and favorable regulations can provide opportunities for the industry to thrive, while overly restrictive regulations may hinder its growth.

Conclusion

In conclusion, Bitcoin’s growing influence in the European gaming industry has given rise to a new era of crypto online casino sites. Players now have a wide range of options to choose from, with sites like Bitstarz Casino, FortuneJack, and 1xBit leading the way.

As the industry continues to evolve, trends such as increased adoption of cryptocurrencies, the emergence of crypto-specific game developers, integration of blockchain technology, and regulatory developments will shape the future of online gambling in Europe.

Whether you are a fan of Bitcoin or traditional fiat currencies, the European gaming industry is undoubtedly being transformed by the rising tide of cryptocurrencies.

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Cryptocurrency

Payhound empowers LSports with a seamless solution to receive payments

Published

1 week ago

April 22, 2024

George Miller

Payhound empowers LSports with a seamless solution to receive payments

Reading Time: < 1 minute

Fintech crypto company Payhound has been facilitating leading data provider LSports to accept payments from its clients.

As the premier data provider, LSports offers real-time sports data, providing operators with a competitive edge in the sports betting saturated market. By using Payhound’s solution, LSports can conveniently receive payments from its clients, significantly enhancing operational efficiency.

Established in 2018, Payhound’s mission is to enable businesses to handle cryptocurrencies with the same ease, security, and transparency as dealing with fiat currency. Through crypto, Payhound offers fast and efficient international payments, with security being a fundamental principle in all its operations.

Commenting on the partnership, a spokesperson for LSports stated: “Partnering with Payhound to optimize our payment solutions signifies a significant advancement in our global business strategy. This collaboration enables us to conduct transactions swiftly and securely, further bolstering our position as a premier data provider in the industry.”

Elton Dimech, Managing Director at Payhound, added: “We are delighted to service LSports.Through our platform, clients like LSports can easily receive payments, have such funds instantly converted into fiat, and as a result, greatly improve their operations and availability of funds. We look forward to continuing to be their reliable crypto partner in the future.”

Payhound is licensed by the Malta Financial Services Authority (MFSA) and is a holder of a Class 3 VFA License under the Virtual Financial Assets Act of 2018. The company has recently revealed its achievement of ISO 27001 certification for the second consecutive year.

Cryptocurrency

SOFTSWISS Named Crypto Company 2024

Published

3 months ago

February 7, 2024

George Miller

Reading Time: 2 minutes

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

Published

3 months ago

January 24, 2024

Hunor Pal

Reading Time: 2 minutes

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