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The prestigious International Gaming Awards recognized SOFTSWISS as the ‘Crypto Company Of The Year’ in January 2023. Every quarter, as a pioneer of crypto gaming, the company analyzes the crypto gaming industry and shares valuable insights. The expert team has revealed the typical crypto player’s profile, among other key indicators.
The Q1 Crypto results are based upon data from more than 700 brands that use the SOFTSWISS Games Aggregator, and SOFTSWISS’ Casino Platform.
The Big Picture
Total Bets increased by 44.66 % in Q1 2023 compared with the same quarter last year, and by 2.24 % compared with the quarter before. The data shows a consistent growth in the iGaming industry.
The sum of bets on crypto has also grown in absolute terms over the past year. In the first quarter 2023, digital coins will account for 30% of all bets. Total Bets for the Q4 2022 were up 9% compared to the 1st quarter. The Q1 2023 showed a volume increase of 19 %..
Andrey Sternovoitov is the Co-CEO of SOFTSWISS. He comments: “Despite global events in 2022 which caused digital coins to drop in value, they are now rising in value. We are seeing both a growth in the iGaming industry and an increase in bets by crypto players. We expect players to continue using digital coins in 2023. This could be boosted by two factors, namely the retention of competent players and the absence volatility in the crypto markets.
The Most Used Digital Coins
Comparing Q4 2022 to Q4 2018, the top three digital coins are still the same: Bitcoin, Ethereum and Litecoin. Their shares, however, have changed. Bitcoin has risen by 1.9 percent. Ethereum has remained unchanged, but smaller digital currencies have been pushed out.
When you look at the evolution of digital currencies over a longer time period, you will see that the changes in digital coin shares are much more significant. BTC increased 3.72 p.p. from Q1 2022 whereas ETH decreased 5.01 p.p. LTC’s share, the third most popular digital coin, fell by 1.36 percentage points.
The final share price for Q1 of 2023 is as follows:
- BTC – 76.5%
- Ethereum – 8.4%
- LTC – 5.1%
Dogecoin’s (DOGE) rate fell by 1 percent. Comparing to the previous quarter’s share, Dogecoin (DOGE) rates fell by 1 p.p.
Ripple (XRP), Tron(TRX)and Cardano(ADA) are among the currencies that have seen an increase in their share of Total Bets.
The Crypto Player’s Portrait
SOFTSWISS, in order to gain a deeper understanding of the crypto industry, has created a portrait of the average crypto player. According to the Q1 statistics and the available player profiles, 35% of the crypto audience are women and 65% are men.
The following percentages represent the age groups of crypto players that have stated their age in their online casino profiles:
The core audience for digital coins in iGaming falls between the ages of 31-50. This group accounts for 70% of all crypto users.
More than half the crypto GGR for Q1 came from bets placed on mobile devices, with 64% of mobile users and 32% of desktop users.
These data can be crucial in deciding on a strategy to grow an existing iGaming company or launch a new one. Experts at SOFTSWISS note that interest in starting crypto-projects is high even though crypto can be unpredictable and undergo rapid changes. However, the Q1 statistics show that 2023 will be a positive year for digital coin projects.
Max Trafimovich is Chief Commercial Officer of SOFTSWISS. He summarises the following: “Over the past few years, we have seen an increase in demand for cryptocurrency-ready solutions. There’s no doubt that crypto-iGaming operators are attracting a lot of attention and accolades at a global scale. These operators are also at the forefront of other innovations that go beyond payments. SOFTSWISS remains the leading partner in this field with its new crypto-oriented technology, high-level service and security.
About SoftSWISS
SOFTSWISS, an international iGaming firm, provides certified software for managing gambling operations. The team of experts, who number over 1,500 employees, are based in Malta. Poland, Georgia and Belarus. SOFTSWISS is a holder of a number gaming licenses, and offers iGaming solutions in a one-stop shop. The company offers a wide range of products, such as the Online Casino Platform with thousands casino games, Affilka Affiliate Platform, Sportsbook Platform, and Jackpot Aggregator. SOFTSWISS introduced the first Bitcoin-optimized online casino solution in 2013.
