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Will Bitcoin Halving Influence iGaming? SOFTSWISS H1’2024 Overview

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The second quarter of 2024 was marked by a historical event: the Bitcoin halving. Did this event affect the iGaming market? SOFTSWISS shares insights in its quarterly “State of Crypto” overview.

What is Bitcoin Halving?

The Bitcoin halving occurs approximately every four years or every 210,000 blocks, reducing the reward for mining new blocks by 50%. Since Bitcoin’s launch in 2009, there have been four halving events: in 2012, 2016, 2020, and 2024. These events are crucial for maintaining Bitcoin’s scarcity and controlling inflation, ensuring the total supply never exceeds 21 million coins. Historically, each halving has been followed by a rise in Bitcoin’s price due to reduced supply and increased scarcity.

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According to blockchain experts the recent halving may lead to new regulations that ensure fairness, responsible gambling, and anti-money laundering measures in the crypto-driven iGaming sector. The halving is also expected to increase Bitcoin’s value, potentially benefiting Bitcoin-friendly iGaming brands. The adoption of crypto-friendly solutions can enhance player trust and transparency.

Post-Halving iGaming Market Overview

SOFTSWISS experts analysed the data gathered from around 250 crypto-friendly brands powered by the company that engaged in crypto transactions during the first half of 2024. The index increased by 13% since the beginning of the year. 

In absolute terms, the Total Bet Sum, encompassing both fiat and crypto, grew by 46.6% in the first part of 2024 compared to the same period of the previous year. The Total Bet Count showed an even greater increase, surpassing 51.7% in H1 2024 compared to H1 2023.

Ongoing analysis since early 2022 indicates that fiat bets are experiencing more growth compared to crypto bets. Comparing the first half of 2024 to the same period in 2023, the Fiat Bet Sum increased by 65.2%

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Andrey Starovoitov, Co-CEO at SOFTSWISS, shares his opinion: “The increasing wealth of the middle class boosts disposable income and spending on entertainment. Technological advancements make online games and various payment methods more and more accessible. The expansion of regulated markets where iGaming is being legalised provides a stable and secure environment for both operators and players. These elements together foster a thriving industry, encouraging innovation, competition, and a broader reach to diverse audiences.” 

Cautious Approach to Crypto Gaming

In the first half of 2024, the Crypto Bet Sum shows a modest 2.3% increase compared to the same period of the previous year. As fiat rates grow much faster than crypto rates, the share of crypto bets noticeably decreased in 2024, settling at 20.6%.

 

At the same time, the H1 2024 Crypto Bet Count shows a decrease of more than 20% year-on-year. Notably, the review of the first quarter of the year showed a relatively stable position of the Crypto Bet Count.

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Andrey Starovoitov, adds: “The anticipated impact of the Bitcoin halving on the market, coupled with the strengthening of the Bitcoin exchange rate in the first half of the year, may lead to a more cautious attitude among players towards using cryptocurrencies. However, the average crypto bet is increasing, positively impacting the overall Crypto Bet Sum. As Bitcoin’s exchange rate fluctuates, we expect some players to adopt a more careful approach to using their Bitcoins.”

Analysing crypto bets reveals that around 93% are facilitated via the in-game currency conversion tool, which allows operators to engage players with cryptocurrency assets in games originally designed for fiat. The proportion has remained stable through the first half of the year. The operators who adopt the tool are gaining a competitive edge in the market.

Bitcoin’s Share Drops

Bitcoin, Litecoin, Ethereum, Tether, and Dogecoin create the top five most popular cryptocurrencies in iGaming. This list has remained stable over the years, with some shifts in their rankings.

Bitcoin experienced a decline of around 23 p.p. in the first half of 2024 compared to the first half of 2023. This could be attributed to the strengthening Bitcoin exchange rate and players’ commitment to save it.

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The shares of other cryptos, on the other hand, have significantly increased in H1 2024 compared to H1 2023. Litecoin and Tether demonstrated growth of 8.9 p.p. and 7.1 p.p., respectively. Tether climbed to fourth place in the ranking, overtaking Dogecoin behind.

 

Andrey Starovoitov, Co-CEO at SOFTSWISS, summarises: “Confirming experts’ anticipations, the iGaming industry is experiencing active growth, with a fifth of all bets coming from the crypto segment. The intriguing fluctuations in Bitcoin’s position promises both increased profits and a more cautious attitude toward spending. However, every challenge brings its own opportunities. The key to success lies in adapting by investing in employee training and software development, integrating crypto processing, and ensuring your platform remains secure throughout the process.”

 

 

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About SOFTSWISS

SOFTSWISS is an international technology company with over 15 years of experience in developing innovative solutions for the iGaming industry. SOFTSWISS holds a number of gaming licences and provides comprehensive software for managing iGaming projects. The company’s product portfolio includes the Online Casino Platform, the Game Aggregator with over 23,500 casino games, the Affilka affiliate platform, the Sportsbook software and the Jackpot Aggregator. In 2013, SOFTSWISS revolutionised the industry by introducing the world’s first Bitcoin-optimised online casino solution. The expert team, based in Malta, Poland, and Georgia, counts over 2,000 employees.

 

 

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Compliance Updates

UKGC Launches New Consumer Voice Framework

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The UK Gambling Commission (UKGC) has unveiled a new and improved Consumer Voice framework, marking a major step forward in how the regulator listens to and understands the experiences of people who gamble in Great Britain.

The new framework expands the Commission’s research capabilities by introducing four specialist research suppliers, each bringing unique expertise to the table. This shift allows the Commission to delve deeper into the views, motivations, and behaviours of gambling consumers – including those from underrepresented or harder-to-reach groups such as people gambling on specific gambling products, particular demographic groups and those experiencing negative consequences from their own or someone else’s gambling.

Under the new framework, the Consumer Voice programme will now be supported by:

Yonder Consulting – specialists in mixed methodology research

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The Behavioural Insights Team – experts in experimental and behavioural research

Humankind Research – qualitative experts with a focus on hard-to-reach audiences

Savanta – providers of fast-turnaround, cost-effective research.

Each supplier has signed a two-year contract, with the potential for extension until 2029.

“This new framework gives us greater agility and reach than ever before. With these four partners, we’re better equipped to commission high-quality research quickly and use a range of approaches to respond to emerging trends or risks as they develop. The Consumer Voice programme is central to our efforts to ensure our decisions are grounded in the lived experiences of all consumers and the evolving realities of gambling,” said the Gambling Commission’s Head of Research, Laura Carter.

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Consumer Voice complements the Commission’s nationally representative Gambling Survey for Great Britain (GSGB) by offering a flexible, targeted approach to gathering insight. It allows the Commission to conduct deep dives into specific issues, test new ideas and track consumer sentiment over time.

In 2024 alone, the programme engaged with over 10,000 gambling consumers. Previous studies have tackled issues like financial risk checks, bonus incentives and gambling during the cost-of-living crisis.

Joe Wheeler, Associate Director of Yonder Consulting, said: “Over the past three years Yonder Consulting have partnered with the Gambling Commission in delivering mixed-methods research for the Consumer Voice Programme. We’ve supported on a wide range of impactful research programmes, covering elements of the consumer experience like trust in the industry, engagement with the unlicensed market, behaviours during key sporting events and the impact of marketing and bonus offers. We’re delighted to continue our ongoing partnership and to support the Commission in delivering against key policy evidence gaps.”

Eleanor Collerton, Senior Advisor of the Behaviour Insights Team (BIT), said: “We’re delighted to contribute to the Gambling Commission’s Consumer Voice programme. As a global research and innovation consultancy, BIT combines a deep understanding of human behaviour with evidence-led problem solving to improve people’s lives. We’re excited to contribute our expertise in experimental research to generate new insights, address key evidence gaps, and help ensure consumer voices shape meaningful and effective gambling policy, building on more than five years of work to reduce gambling harms in GB.”

Tom Silverman, Co-Founder of Humankind Research, said: “Humankind Research specialises in research with a positive impact, and much of our work is exploring lived experience of complex issues and under-served groups. So we are delighted to be chosen to be the Gambling Commission’s partner for ‘in-depth qualitative research’ within the Consumer Voice framework. It is a fantastic opportunity to work in close collaboration with the Commission to really understand the experiences and needs of people who are involved in or affected by gambling; using sensitive and inclusive research approaches to gain strategic insights that can help to guide policy and priorities.”

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Latest News

Bet Builders Boom: Entain Reports Record Growth in Customised Football Betting

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Bet Builder bets are taking the global football betting world by storm, with Entain’s Global Sportsbook reporting record-breaking growth in 2024 and 2025. Thanks to major tournaments like EURO 2024 and Copa América, Bet Builder stakes more than doubled last year, and the momentum shows no signs of slowing.

In September 2024, all Entain digital brands completed the transition to an in-house built Bet Builder product. It is being improved and developed by the product and technology teams constantly to great effect with Bet Builder share of bets doubling in the first half of 2025. This Saturday’s Champions League Final between Inter Milan and PSG is on track to become the most popular club match ever for this type of bet.

“Bet Builders have quickly become one of the most influential innovations in modern sports betting. In an otherwise low-scoring sport, customers can create bets that align with their predictions for the flow or story of a game. They offer fans customisation, interactivity, and the chance to leverage niche insights in a strategic way,” said Tom Ritzema, Group Trading Director at Entain.

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Highlights:

• The Argentina vs. Brazil World Cup qualifier in March was the biggest Bet Builder event of 2025 so far.

• England vs. Spain in the EURO 2024 Final remains the largest Bet Builder match ever recorded.

• Spanish football leads globally, with around 20% of all football bets now being Bet Builders, while it is also hugely popular in the Brazilian market.

• Shots on target has surged as a top market, especially in South America, alongside match result and total goals.

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The trend is especially strong among recreational bettors who prefer frequent, lower-stake bets with higher returns. In Brazil, nearly 40% of all wagers on key domestic fixtures like Corinthians vs. Palmeiras were Bet Builders, as well as Brazil’s major international fixtures.

With increasing global adoption, especially in Europe and South America, Bet Builders are reshaping how fans engage with football betting, offering unprecedented personalisation and control. The next step will be to offer the bet builder product In-Play across all Entain labels.

Top Bet Builder Markets (2025):

Spain

Brazil

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Canada

Belgium

Greece

Most Popular Bet Builder Selections:

Match Result

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Total Goals

Player Shots on Target

Total Corners

Both Teams to Score.

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Compliance Updates

Michel Groothuizen Joins GREF as Board Member

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Michel Groothuizen, chairman of the Netherlands Gambling Authority, has been unanimously appointed as general board member of the board of the Gambling Regulators European Forum (GREF) for the period 2025-27. GREF is a partnership in which gambling regulators from Europe share knowledge, experiences and best practices and work together on a safe and fair gambling market.

In his new role, he will spend the next two years working to strengthen the importance of GREF and to further grow the organisation. His personal mission is to work with other regulators to establish shared standards in the area of gambling supervision.

“An example of this is the clear standard that gambling under the age of 18 is an absolute no go,” said Groothuizen.

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He looks forward to a pleasant collaboration with other countries in the coming administrative period.

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