Bitcoin
Bitcoin Vault inks major deal with ESE to co-produce Gaming & Esports Talent Show in five countries
Bitcoin Vault (BCTV), a crypto currency project that is being operated and managed by the blockchain development company, Electric Vault, has sealed a landmark partnership with ESE Entertainment (ESE), a Europe-based entertainment and technology company focused on gaming and esports, to co-produce and co-distribute a gaming talent show in five countries namely China, Japan, South Korea, Vietnam and Brazil.
The production deal propels BTCV and ESE’s unified goal to link crypto currency and gaming in one ecosystem. This partnership also powers BTCV coin to expand its presence and services in the global esports and gaming markets. BTCV is known for being the only Proof of Work (PoW) cryptocurrency that offers a reversible transactions feature on an immutable blockchain, adding a new layer to users’ security.
“Esport is a rapidly growing industry and driver for fintech based on cryptocurrencies. Those industries are already working together, and we want to contribute our part to the global cryptocurrencies adoption. We are glad that we can work with such an experienced partner as ESE on a shared project dedicated to the global gaming community, where young non-professional players can show their skills. We are happy to support the crypto and gaming communities,” says Radek Popiel, Chief Communications Officer at BTCV.
The talent show will feature promising amateur esports athletes striving to become professionals. Young gamers will show their skills in fast growing mobile games such as PlayerUnknown’s Battlegrounds (PUBG) and Peacekeeper Elite.
Meanwhile, ESE will be managing the production and infrastructure of the show, including the development of the project concept, media plan, technology implementation, marketing, and overall campaign roll-out. Other partners involved in the project include VYRAL Producer of Gaming Projects, VidWe, Converters and Next Level Agency.
“ESE is actively exploring new and innovative ways to incorporate cryptocurrencies and other blockchain based payment solutions within the gaming and esports world. We are thrilled to run this major gaming talent show with Bitcoin Vault in markets that are global leaders in esports and gaming,” states Jedrzej Steszewski, ESE Director of EU Operations .
Series of gaming tournaments will be held in China, Japan, South Korea, Vietnam and Brazil from June 2021 until the end of the year. Bitcoin Vault (BTCV) will gain exposure to the new markets and new audiences creating a potential for new partnerships within the esport growing industry.
Powered by WPeMatico
Bitcoin
Time to Invest in Crypto? SOFTSWISS 2023 iGaming Market Overview
In 2023, crypto bets expanded by more than 20%, as reported by SOFTSWISS. The leading technology company, with over 15 years of expertise in iGaming and number one in crypto-optimised software, shares its analysis of the dynamic crypto landscape.
According to industry research, the global iGaming market is projected to double by 2030 at a compound annual growth rate of 11.7%. Revenues are expected to exceed 140 billion euro, with a significant share attributed to crypto gambling.
SOFTSWISS, as the innovator in crypto iGaming software development, regularly conducts research to track the dynamics of crypto within the iGaming market. Using extrapolation, comparative and correlative analysis, experts analyse the data gathered from over 600 crypto-friendly brands powered by the company.
iGaming Market Overview
Based on SOFTSWISS data, the iGaming market had a stable expansion in 2023. In absolute terms in euro, the Total Bet Sum grew by 38.2% year-on-year. At the same time, the Total Bet Count displayed an even stronger increase, surpassing 51.2%.
The average bet is slightly decreasing for several reasons. One significant factor is the broader reach of online gaming, fueled by advanced technology and increased internet availability. This trend is more evident in emerging markets like LatAm and Africa, where bets are usually smaller. Additionally, the increasing number of players under 30 with budget constraints adds to the decline in the average bet size.
State of Crypto
The in-depth quarterly analysis, initiated at the beginning of 2022, reveals that fiat bets are undergoing more substantial growth compared to crypto bets. In Q4’23, the Crypto Bet Sum saw an 8.2% rise in absolute terms, while the Fiat Bet Sum surged by 16.4% compared to Q3’23. At the end of 2023, the crypto share in the Total Bets Sum (27.5%) decreased by 3.9 p.p.
The comparative analysis of the 2023 Crypto Bet Sum against the previous year shows 21.1% growth. Simultaneously, the Crypto Bet Count increased by 50.5% year-on-year. The growing number of bets indicates rising interest in crypto gaming, but the greater availability of digital currencies may lead to slightly more economical bets.
“The advantages of employing digital currencies, such as swift transactions and anonymity, are key drivers for many players. Given these dynamics, the market demands expanding iGaming projects’ opportunities for crypto players. The in-game currency conversion, for example, allows operators to engage players with cryptocurrency assets in games initially designed for fiat transactions. The projects that embrace such possibilities continue gaining more advantageous market positions,” shares Vitali Matsukevich, Chief Operating Officer at SOFTSWISS.
Crypto Bet Stabilisation
The average fiat bet remained steady at around 0.82 euro throughout the previous year. Despite fluctuations in the average crypto bet during 2023, ranging from 1.59 to 1.88 euro, the changes appear modest compared to the twofold drop observed in the average crypto bet during Q4’22, which reached 1.56 euros. This indicates a certain level of stabilisation in the average crypto bet throughout 2023.
Vitali Matsukevich, Chief Operating Officer at SOFTSWISS, comments: “The dynamics of the average crypto bet align with crypto market fluctuations. When digital currency values stabilised in H2 2022, the average crypto bet also levelled out. Another thing is that the average crypto bet is almost two times higher than the average fiat bet, which testifies that digital currencies are potentially used by players with higher incomes. Operators should consider this to increase project profitability.”
Cryptocurrencies Rating
The Top Five most operated digital coins in iGaming landscape have remained stable during the last two years.
In 2023, the cryptocurrency structure looks as follows:
- Bitcoin – 73.3%
- Ethereum – 9.9%
- Litecoin – 6.6%
- Tether – 4.6%
- Dogecoin – 3.1%
In Q4 2023, Bitcoin experienced a slight decline by a 5.7 p.p. compared to Q3 2023. Conversely, Ethereum and Litecoin showed growth of 4.7 p.p. and 2.2 p.p., respectively, during the same period.
Vitali Matsukevich, Chief Operating Officer at SOFTSWISS, summarises: “The digital currencies market is rapidly expanding, with estimates showing over 50% growth in capitalisation in 2023. Despite the risks caused by the high volatility of crypto and its dependence on various factors, using it can bring extra profits for operators. The iGaming industry is promising for investments due to growth in both fiat and crypto markets, but success depends on trustworthy and experienced partners.”
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.
Bitcoin
Evgeniy Babitsyn from Bets.io Comments on the Future of BTC
In January 2024, the SEC approved 11 Bitcoin ETFs, marking a significant announcement for Bitcoin and the wider crypto-market. This approval demonstrates the growing integration of traditional finance with decentralized finance. The announcement has sparked mixed reactions, with crypto experts questioning what this means for the future of tradable crypto assets. On the back of the announcement, the news that BlackRock will now be the biggest holder of Bitcoin has made the issue more complex.
Evgeniy Babitsyn, CMO of Bets.io, is an expert crypto commentator who has been closely monitoring these latest developments.
“There are pros and cons to the BTC ETF. On the one hand, it gives retail investors another avenue of access to the crypto market, allowing them to invest through a traditional finance instrument. This is important because investors not well-versed in crypto investing can find it difficult to access and invest in crypto assets,” he said. “However, the bigger point here is that BTC’s incorporation into an ETF goes against the founding principles of cryptocurrency. Its evolution is a consequence of advanced technology removing the ‘middleman’ in transactions, empowering individuals to make transactions free of bureaucratic institutions.”
When it comes to the regulation of crypto assets, Evgeniy does admit that there is a role for regulators to play. However, he advises it should not go against the fundamentals of cryptocurrencies. “While there is a role for regulation to play, having an ETF in play goes against what BTC initially set out to achieve as an alternative to traditional financial systems.”
Increased institutional involvement in crypto trading can also distort the market, posing significant questions for the future. “News is now emerging that the world’s largest asset manager, BlackRock, is on track to becoming the biggest holder of BTC because of the ETF,” Evgeniy said. “Coupled with this, the ongoing developments from state entities to regulate crypto assets, the question now is whether the institutional embrace of BTC marks the beginning of the end for the coin, at least in its original form.”
Bets.io is a renowned brand within the world of crypto iGaming. It was launched in 2021 and has been rapidly expanding ever since. In 2022, the brand was acclaimed as The Rising Star Operator of the Year by SiGMA Europe for its ambition, results, and potential in the online entertainment industry. As such, it has been keenly watching the developments of crypto assets unfold.
Looking to the future, Evgeniy sees big announcements on the horizon. “For now, we know that 2024 will be a monumental year for the future of BTC, cryptocurrencies, and Web3.”
Bitcoin
BitcoinCasinos.com Rebrands as FairBitcoinCasinos.com
BitcoinCasinos.com has changed its domain name to FairBitcoinCasinos.com as part of its ongoing efforts to promote safe crypto gambling.
BitcoinCasinos.com offers customers thousands of secure crypto-gambling products. The name change will allow FairBitcoinCasinos.com to provide the most in-depth and user-friendly resources for online crypto bettors worldwide.
“We are very excited to introduce the new domain name Fair Bitcoin Casinos. Our primary goal has always been to assist users in finding the most trusted crypto casinos. The new name branding is just one change that will enable us to promote our commitment to providing the most accurate and transparent information to our users,” Tom Middleton, Editor-in-Chief of FairBitcoinCasinos.com, said.
-
Central Europe5 days ago
Nolimit City Announces Partnership with win2day
-
Compliance Updates5 days ago
Romania Bans Gambling Venues in Small Towns and Villages
-
Latest News5 days ago
NetBet Casino Partners with Nolimit City
-
Compliance Updates4 days ago
DGA: Three Orders and One Reprimand Issued to Mr. Green Limited for Breach of the Anti-Money Laundering Act
-
Asia4 days ago
China’s CBA League Extends Global Broadcast and Integrity Partnership with Sportradar
-
BIG Brazil4 days ago
NeoGames partners with BIG Brazil for its Caesars Brazil brand ahead of market opening
-
eSports4 days ago
eSports in the CIS region , Q&A w/ Viktor Block, Senior Sales Manager/PandaScore
-
Compliance Updates5 days ago
Sightline Selects GeoComply for Identity and Geolocation Compliance Services