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Many business sectors that deal with cryptocurrencies have been affected by the unstable environment created by last year’s global developments. The iGaming sector was not an exception. It is important to first address and deal with 2022’s outcomes in order to predict the future of cryptocurrencies. SOFTSWISS is a top tech provider for iGaming and has shared an expert crypto report to the industry.
SOFTSWISS is a pioneer in crypto gambling. With its Crypto Casino Solution, 10 years of market experience, SOFTSWISS quarterly analyzes the crypto market to share industry insights. This tech-savvy developer has released its latest report, which compares the crypto results in 2022 and 2021. It is based on data from 700 clients of SOFTSWISS’ Casino Platform.
2022 VS 2021
Despite volatility in the crypto market over the past year, total bets made on the supplier’s platform, which includes those in fiat currency and digital coins, increased by 31% relative to 2021. Gross gaming revenue, which is the difference in the amount wagered and what was won, also saw a 36% increase YoY.
The total number of bets surpassed 20 billion euros in Q2 2022. This indicator grew steadily every quarter until the year 2022. The average number of total bets increased 35% QoQ. Comparatively to 2021, the average quarterly GGR increased by 2.7 times and reached 38% growth.
Vitali Mattsukevich is Chief Operating Officer of SOFTSWISS. These new fiat projects were a powerful incentive for iGaming operators, who are now able to expand and implement payment methods that support digital coins. iGaming tech providers will continue to work on new crypto-centric tools. We’ve also launched the In-Game currency Conversion feature, which allows crypto users to play all games by automatically converting digital coin bets into fiat wagers.
FIAT Vs CRYPTO
Comparatively to 2021, crypto bets fell by 14.6% to 20.2 trillion euro. The fiat share growth was affected by the 3.5 billion euro decrease on the crypto side. The total fiat bets made up 76% of total player bets by 2022.
MOST USE DIGITAL COINS
Bitcoin still holds the lead despite a drop in price of over 60% in 2022. It accounts for 72.7% total crypto bets. This digital coin has also lost 7.4 percent. Since 2021. Ethereum’s popularity has increased, with a 3.7 p.p. increase in players.
The top three most-used cryptocurrencies in 2022 are:
- Bitcoin – 72.7%
- Ethereum – 13.6%
- Litecoin – 5.5%
The report provides a detailed breakdown including DOG, USDT and BCH.
Vitali Mattsukevich is Chief Operating Officer of SOFTSWISS. He summarizes: “In contrast to 2021 which was rewarding digital currencies and NFTs for their rewards, 2022 has not produced similar results.” We are positive about 2023 and believe that crypto will continue to be a popular choice for players due to its anonymity, speed and decentralised nature. Despite the volatility in digital coins, crypto is already gaining a substantial share of players and operators, and has been an integral part to the market. SOFTSWISS continues to support its partners’ fiat and crypto projects with innovative tools and solutions that provide operators with reliability, security, and top-notch service.
About SOFTSWISS
SOFTSWISS, an international iGaming company, provides certified software solutions to manage gambling operations. This expert team has 1,500+ members and is located in Malta, Poland Georgia, Georgia, Belarus, and Belarus. SOFTSWISS has a variety of gaming licenses and offers one-stop-shop iGaming solutions. It offers a wide range of products, including the Online Casino Platform, Game Aggregator, Sportsbook Platform, Jackpot Aggregator, and the Affilka affiliate platform. SOFTSWISS was the first company to offer a bitcoin-optimized online casino solution in 2013.
