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9M 2023 Crypto in iGaming Landscape: Moderate Growth Amidst Fiat Rise

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9M 2023 Crypto in iGaming Landscape: Moderate Growth Amidst Fiat Rise
Reading Time: 4 minutes

 

SOFTSWISS’ latest analysis indicates that the cryptocurrency segment is experiencing slower growth compared to the broader iGaming industry. The pioneer in offering cutting-edge crypto iGaming software presents insights into the latest crypto gaming trends.

The analysis is founded on the data collected across 530+ brands powered by the company. It takes into account the in-game currency conversion capabilities, enabling SOFTSWISS clients to seamlessly involve players with cryptocurrency holdings in games originally tailored for fiat only.

 

IGAMING MARKET GROWTH

During the first three quarters of 2023, the iGaming market consistently grew. In absolute terms, the total wagered amount showed a 36.6% increase compared to the same period of the previous year, while the number of bets saw an even more impressive growth of almost 50%.

 

STATE OF CRYPTO

In the comparative analysis of crypto bets spanning the first nine months of 2023 and the same period of the previous year, a noteworthy 18.7% monetary growth is observed. At the same time, the number of crypto bets has surged by 66.4% since 2022. Simultaneously, the share of crypto in the Total Bets Sum demonstrated a slight decrease by 4.3 p.p. to finally settle at 28.5%.

Diving deeper into the analysis, which has been ongoing since the beginning of 2022, it becomes evident that the sums of crypto bets experienced incremental growth from quarter to quarter during this period, but their share in the Total Bets Sum decreased slightly, primarily due to the more impressive quarter-to-quarter increase in the sums of fiat bets.

 

Andrey Starovoitov, Co-CEO at SOFTSWISS, comments: “An 18% increase in crypto bet sums may appear very modest when juxtaposed against a more substantial 45% expansion in fiat bets during the first three quarters of 2023. Taking into account the state of crypto in other spheres, such as fundraising, where the third quarter showed its worst results since the end of 2020, the position of cryptocurrencies in iGaming could be evaluated as comparatively stable at the moment.”

 

FLUCTUATING CRYPTO BET

The analysis of the average bet presents an engrossing picture. While the average fiat bet remains stable, hovering around 0.82 euro during the first three quarters of 2023 as well as in the same period of 2022, the average crypto bet lost almost 30 p.p. on average, displaying a quarter-to-quarter variability. It initially increased from 1.56 euro at the end of 2022 to 1.88 euro in Q2 2023 but subsequently declined to 1.59 euro in Q3 2023. Such fluctuations can be attributed to the inherent volatility in cryptocurrency rates and market expectations.

 

SOLID TOP OF CRYPTOCURRENCIES

The Top 5 most used digital coins in iGaming remained unchanged since the beginning of 2022.

During the first three quarters of 2023, the cryptocurrency distribution structure is as follows:

  • Bitcoin – 74.9%
  • Ethereum – 8.9%
  • Litecoin – 6.0%
  • Tether – 4.6%
  • Dogecoin – 3.0%

 

In the world of digital currencies, Bitcoin has witnessed the most substantial growth, marked by a 3.9 p.p. increase in its share compared to the first three quarters of the previous year. Conversely, Ethereum experienced a decline, losing 6.3 p.p. in its market share during the same period.

Andrey Starovoitov, Co-CEO at SOFTSWISS, summarises: “Due to their technological nature and relatively recent emergence, cryptocurrencies are developing within a rapidly changing landscape, pivoting on diverse economic and societal factors. At the moment, we are observing their moderate popularity among players in the growing fiat segment, and the results of the final quarter of 2023 hold increasing fascination. Being the ‘number one’ crypto solutions provider, SOFTSWISS remains committed to imparting its expertise on the relevant trends in iGaming.”

 

About SOFTSWISS

SOFTSWISS is an international iGaming company supplying ISO 27001-certified software solutions for managing gambling operations. The expert team, which counts 1,400 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 Software and the Jackpot Aggregator. In 2013, SOFTSWISS was the first in the world to introduce a Bitcoin-optimised online casino solution.

Cryptocurrency

Bets.io Awarded Best Crypto Casino of the Year at SiGMA Europe 2023

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Bets.io awarded Best Crypto Casino of the Year at SiGMA Europe 2023 following achievements in driving mainstream adoption of cryptocurrency in iGaming

Bets.io, the leading cryptocurrency iGaming and sportsbook platform, has today been named Best Crypto Casino of the Year at the prestigious SiGMA Europe 2023 awards ceremony held in Malta.

Each year, SiGMA Europe recognises the leading achievements and top performers of the iGaming industry. This year, the crown for best crypto casino of the year has been passed to Bets.io. The award recognises the innovative and disruptive application of blockchain technology by Bets.io to revolutionise gambling and betting services for crypto enthusiasts worldwide.

The awards are highly competitive, with some of the world’s most recognisable iGaming brands taking part. Winners are selected by a crowd of experts, industry veterans and business leaders from the sector.

The Best Crypto Casino of the Year award recognises Bets.io’s achievements in driving mainstream adoption of cryptocurrency gambling. Its dedication to delivering outstanding player experiences and robust payment methods through innovative crypto offerings has made it a leading industry player. SiGMA judges noted Bets.io’s wide-spanning crypto payment offering and its commitment to ensuring a fast, secure and anonymous betting experience for players where reliability and safety are top priorities.

SiGMA Europe is one of the iGaming industry’s largest events globally, bringing together operators, suppliers, regulators, experts and partners each year to recognise the latest innovative developments in the iGaming sector.

Founded in just 2021, Bets.io has been recognised for its vast selection of over 10,000 casino games including slots, table games, live dealer options and specialty games and coverage of more than 30 sports for betting enthusiasts. The platform, which accepts over 510 of the most popular cryptocurrencies, has fast become a preferred destination for crypto gamblers.

Bets.io continues to lead the way for crypto betting, innovating iGaming services to meet the demands of crypto bettors, building trust and providing unmatched betting experiences. Over the past year, Bets.io has continued expanding its portfolio of casino games and sports betting options while enhancing platform security and offering personalised offers and promotions. From daily cashback to surprise boxes, keeping loyal customers engaged and excited during their play is paramount.

As well as offering player-friendly options such as low minimum deposits and large betting limits, the crypto casino ensures responsive 24/7 support and a premium experience through its VIP program where players enjoy personal managers, increased payout limits and exclusive offers.

To find out more about Bets.io, please visit https:// Bets.io/.

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Cryptocurrency

Bets.io awarded “Best Crypto Casino of the Year” at SiGMA Europe 2023, following achievements in driving mainstream adoption of cryptocurrency in iGaming

Published

on

Reading Time: 2 minutes

Bets.io, the leading cryptocurrency iGaming and sportsbook platform, has today been named “Best Crypto Casino of the Year” at the prestigious SiGMA Europe 2023 awards ceremony held in Malta.

Each year, SiGMA Europe recognises the leading achievements and top performers of the iGaming industry. This year, the crown for best crypto casino of the year has been passed to Bets.io. The award recognises the innovative and disruptive application of blockchain technology by Bets.io to revolutionise gambling and betting services for crypto enthusiasts worldwide.

The awards are highly competitive, with some of the world’s most recognisable iGaming brands taking part. Winners are selected by a crowd of experts, industry veterans, and business leaders from the sector.

The Best Crypto Casino award recognises Bets.io’s achievements in driving mainstream adoption of cryptocurrency gambling. Its dedication to delivering outstanding player experiences, and robust payment methods through innovative crypto offerings have made it a leading industry player. SiGMA judges noted Bets.io’s wide-spanning crypto payment offering, and their commitment to ensuring a fast, secure and anonymous betting experience for players, where reliability and safety are top priorities.

SiGMA Europe is one of the iGaming industry’s largest events globally, bringing together operators, suppliers, regulators, experts and partners each year to recognise the latest innovative developments in the iGaming sector.

Founded in just 2021, Bets.io has been recognised for its vast selection of over 10,000 casino games – including slots, table games, live dealer options, and specialty games – and coverage of more than 30 sports for betting enthusiasts. The platform, which accepts over 510 of the most popular cryptocurrencies, has fast become a preferred destination for crypto gamblers.

Bets.io continues to lead the way for crypto betting, innovating iGaming services to meet the demands of crypto bettors, building trust and providing unmatched betting experiences. Over the past year, Bets.io has continued expanding its portfolio of casino games and sports betting options, while enhancing platform security and offering personalised offers and promotions. From daily cashback to surprise boxes, keeping loyal customers engaged and excited during their play is paramount.

As well as offering player-friendly options such as low minimum deposits and large betting limits, the crypto casino ensures responsive 24/7 support, and a premium experience through their VIP program where players enjoy personal managers, increased payout limits, and exclusive offers.

To find out more about Bets.io, please visit https://www.bets .io/

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Asia

Roobet Celebrates Nippon Baseball Championship with $1,000,000 Free-to-Play Contest

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Roobet, the pioneering entertainment company and next-generation crypto brand, is thrilled to announce its official launch in the Japanese market.

This exciting expansion coincides with the highly anticipated season opening of the Nippon Professional Baseball League (NPB) on October 28. As the season kicks off, Roobet is ready to bring a fresh wave of innovation and excitement to Japanese sports and esports enthusiasts.

To celebrate, Roobet is hosting a $1,000,000 Pick’em contest on Roobet Picks, the company’s free-to-play platform. Baseball and esports fans can participate to test their sports knowledge, make predictions, and compete for life-changing prizes – at no cost, other than perhaps a bruised ego.

The Roobet brand has a proven commitment to fostering crypto and web3 innovations, curating a strong sense of community empowered by competitive connections, and leveraging cutting-edge technologies to make experiences seamless and fun. Roobet.fun, as a pillar brand, exemplifies this mission by providing a player-centric, free-to-play experience on an immersive and secure platform.

A Roobet spokesperson stated: “We couldn’t be more excited to bring Roobet to Japan! Japan has a rich gaming and esports culture, and we’re here to pioneer completely new ways for Japanese fans to engage with their favorite sports and esports. Our $1,000,000 Pick’em contest is just the beginning of what we have in store for our friends all across the world – get ready!”

The million-dollar Pick’em contest is set to become a highlight in the Japanese gaming calendar, but Roobet Picks has more to offer – with a wide array of predictor quizzes covering various competitive sports globally, including the Nippon Professional Baseball League (NPB), the US’ National Football League (NFL), Ultimate Fighting Championship (UFC), boxing, the English Premier League (EPL), and esports such as the Roobet Cup and a Daily Game, with more leagues and competitions to be added soon.

With Roobet.fun catering to those trying out crypto or simply enjoying free-to-play games, and Roobet.com continuing its industry-leading innovation in the crypto gaming space, the Roobet brand is redefining the entertainment landscape and leading the way in inclusive and creator-led gaming.

*Roobet.fun is available in Japan and worldwide except the United Kingdom, Australia, North Korea, Ukraine, Romania, Serbia, India, Philippines, Malta, and Iran, and in all US states and territories except Kentucky, Florida, New York, Washington and Nevada.

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