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Cryptocurrency

Roundtable: The future of cryptocurrency

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Cryptocurrency has really taken off over the past few years within the iGaming industry and has established an important foothold in the world of online casinos.

We spoke to Andrey Starovoitov – Co-CEO at SOFTSWISS, Daniel Heywood – Co-founder of NuxGame, and Matt Sahakian – CSO at Technamin, to talk about what the future holds for cryptocurrency and why it is now a hugely vital part of the industry.

 

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How widespread is the use of cryptocurrency in online casino and sportsbook and does it have mass appeal?

Andrey Starovoitov (AS): The use of cryptocurrencies in gambling is a sustained trend that is only getting stronger from year to year. Today, we can see a certain segment of crypto casinos getting a strong foothold and taking over a considerable market share. Crypto casinos are certainly a flagship of our client portfolio along with major fiat casinos. In terms of figures, cryptocurrencies have grown 10% year-on-year to make around 35% of the SOFTSWISS turnover. This is an evident growth indicator on the back of the major coin price volatility, which shows a gradual progressive increase of player interest in this type of deposits.

Daniel Heywood (DH): There has been significant uptake in cryptocurrency adoption in various industries in recent times, including finance, IT, e-commerce and more. Additionally, outside of its use in the corporate world, it has been championed by thousands of private citizens who regularly use cryptocurrencies. This is a far cry from the image crypto had only a few years ago and serves as a testament to its growth.

Matt Sahakian (MS): I think that at this point, crypto is inseparable from our industry. Most reputable online casinos are now offering crypto payment methods and the ones that are not doing so, surely have it in their short-term roadmaps. Online sportsbooks jumped in on the trend a bit later than online casinos, but are certainly catching up as we see the rise of crypto sports betting in the industry.

 

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What are the biggest advantages of using crypto for operators and players when placing wagers online?

AS: First of all, operators gain access to a whole new younger audience which generally does not overlap with the traditional fiat casino segment. The use of cryptocurrencies often gives a certain level of anonymity, which, in turn, attracts VIP players and high rollers.

On the level of operations, all crypto casino metrics such as acceptance rate, conversion rate and others are much higher compared to those of fiat casinos. For instance, the SOFTSWISS acceptance rate (successful to attempted deposits ratio) is 99% for cryptocurrencies.

All of the above is just a smidgen of the benefits from using crypto in iGaming. The main advantage is that crypto is an ever-growing trend we’ve been observing over the last five years.

DH: There are lots of benefits for both players and operators, with the speed of transaction being the most obvious. Because there is no intermediary involved in the transaction process things can be completed far quicker and with fewer steps involved, in comparison to traditional payment methods. The added – and significant – spin-off from the removal of that intermediary is the subsequent lowering of fees, making the process more streamlined and cost-effective.

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MS: The foremost advantage is the added layer of security that these currencies bring, thanks to the blockchain technology they are based on. Security is always of paramount concern to both operators and players, and crypto puts both minds at ease. The decentralised nature of these currencies also amounts to higher degrees of anonymity which players prefer when it comes to their information and transaction history.

 

In which markets are a cryptocurrency solution particularly relevant?

AS: In fact, when asked which is the most popular market for cryptocurrencies in gambling, at SOFTSWISS we highlight that crypto falls into a separate new market. And it makes sense, as the differences between the crypto and fiat audiences are quite significant – the demand for transaction processing speed, availability of provably fair technology games, high game limits and even top game lists are totally different in these two segments. In general, the geography of crypto gamblers is pretty vast – Canada, Germany, LatAm (Brazil, Mexico, Argentina), and Asia.

DH: Cryptocurrencies are relevant across the world. There is no market in which they’re not playing an increasingly important role. However, they are aiding in the expansion of the iGaming industry in developing countries in particular. This is mostly due to the strict banking rules and restrictions within these jurisdictions that cryptocurrencies remedy.

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MS: We’re seeing the Asian market as well as certain areas of the LatAm market embracing crypto, along with Africa and the USA. Mexico is also big on blockchain, being included in the top 50 countries where crypto is most popular. Countries like Greece, Denmark, Sweden, Romania, and the UK are also joining in on the trend.

 

Is it all about Bitcoin, or are other cryptocurrencies commercially viable?

AS: Indeed, we are observing new coins ascending against a gradual Bitcoin decline in the crypto basket, but this does not mean that it is the Bitcoin that is losing its appeal but rather that other cryptocurrencies are gaining momentum as a gambling deposit method. According to our partners’ research, customer interests are shifting towards “stable coins”. Facing the crypto winter, most crypto traders have already sold the most volatile cryptocurrency as we are living in the “cash is king” times. USDT is the leader amongst stable coins, followed by BUSD. As a result, in 2022 we saw that Bitcoin was not the ultimate GO-TO choice for payments. But don’t get me wrong, it is still huge as only Bitcoin offers indisputable decentralisation and freedom of payment. It fell from 65% to 49% in transaction count on average, but marks much lower levels for new casinos with a younger player base.

DH: Bitcoin is of course the obvious leader within cryptocurrency, but there are an increasing number of options for both players and operators. Clients are using an increasingly diverse range, featuring projects such as Ethereum, Solana and Tether and others in order to offer the widest range of payment choices available.

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MS: There was a time when Bitcoin was stealing the thunder in the world of crypto. However, that’s not the case today. There are nearly 10,000 active cryptocurrencies out there. Granted that not all of them are as popular or even used, many of them like Ethereum, Binance USD, Dogecoin, Tether and XRP are just as popular with bettors as Bitcoin. That’s the thing with these currencies. You never know which one is going to take the lead.

 

What does the future hold for using сrypto in online gaming? Is it a passing trend or here to stay?

AS: Overall, despite the volatility we are observing, the crypto gambling segment and its audience will continue to grow, as it is the speed, simplicity, and a certain level of anonymity that players value most in cryptocurrencies. We can clearly see an increasing interest in this niche, and a growing number of operators, including top tier ones, are adding crypto to their payment methods.

DH: Cryptocurrencies are categorically here to stay; by now I’m certain most can agree on that. As the crypto industry evolves, new and more innovative solutions are emerging and are competing for their “15 minutes of fame.” This in turn drives more innovation. A few of these are no doubt just a passing trend, yet some will stay with us long-term and become part of the furniture in the industry.

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MS: When Bitcoin was released as the first open-source software and blockchain currency back in 2009, many people thought it would be a passing trend. It has been more than a decade now, and look where we are with these currencies today. Much like any other phenomenon, it is impossible to tell where crypto is going, but a decade-long popularity and expansion are clear indicators that this is a journey which we must follow closely.

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Cryptocurrency

Slotland Entertainment Rolls out Dazzling New Slot, 8 Crystals, Across Multiple Brands with new Cryptocurrency Integration

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Slotland Entertainment is raising the stakes for online casino players with the launch of their dazzling new slot game, 8 Crystals. Available across three major platforms – Slotland, CryptoSlots, and CryptoWins – this visually striking 3×3 Mega Matrix slot with 9 paylines has an array of enticing features, including Free Spins with Wilds, Double Wilds, and a Bonus Game which is triggered by hitting just one Free Spins scatter.

The game’s mesmerizing design features vibrant glowing purple and blue backgrounds, swirling nebula-like clouds, and geometric crystal shapes, immersing players in a world of luxurious, cosmic beauty.

“As a bonus for the launch, Slotland, CryptoSlots and CryptoWins are offering up to 88% Match Bonuses on deposits until April 4th, 2025. Players can also take advantage of a $15 FREE CHIP and other promotions to make their gaming experience even more rewarding!” says Michael Hilary, Slotland Manager.

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To celebrate the release of 8 Crystals, Slotland.eu is making waves with its expanded cryptocurrency options. Players can now use Ether (ETH)USD Coin (USDC), and Tether (USDT) to deposit and withdraw funds, making crypto transactions faster, more secure, and incredibly flexible.

  • Ether (ETH): As the second-largest cryptocurrency after Bitcoin, Ethereum provides popularity and availability across the crypto world, though transactions can be slower and more expensive.
  • USD Coin (USDC): This stablecoin is pegged 1:1 to the US dollar, offering low-cost, fast, and predictable transactions, ensuring a smooth experience for players without the worry of price fluctuations.
  • Tether (USDT): With higher liquidity, Tether is widely accepted, making it easy for players to convert or cash out across multiple exchanges.

8 Crystals is sure to be a must-play for any casino enthusiast, so don’t miss out on these incredible bonuses.

The post Slotland Entertainment Rolls out Dazzling New Slot, 8 Crystals, Across Multiple Brands with new Cryptocurrency Integration appeared first on European Gaming Industry News.

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BitLine

Bitline and Everi Announce Crypto Liquidity for Choctaw Casinos & Resorts in Industry First Development

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Bitline, the only provider for casino chip access directly from cryptocurrency, has announced its first major collaboration in the U.S. casino market, teaming up with Choctaw Casinos & Resorts through its collaboration with Everi’s CashClub, the leading financial access services suit for casino payments. This collaboration introduces cryptocurrency and digital assets as a new source of liquidity for casino patrons and marks the first time that such a functionality has been enabled within the American gaming industry.

Leveraging Everi’s CashClub’s comprehensive payment infrastructure, Bitline’s solution is able to efficiently board, screen and verify patrons looking to leverage their digital assets whilst also allowing patrons to move screened assets into custody within minutes. Bitline’s integration with Everi’s CashClub, will enable the technology for the benefit of Choctaw Casinos & Resorts, and is the first time that such a functionality has been possible in the U.S. regulated casino market.

The collaboration works to cater to the growing demand for greater cryptocurrency and digital asset integration within the casino industry. The collaboration between Bitline and Everi’s CashClub forms a transferable blueprint that offers casino operators and their patrons an alternative way to manage funds, access liquidity, and leverage the benefits of cryptocurrency and other digital assets.

This milestone reflects a strategic shift in how casino operators view and manage financial interactions with their guests. The introduction of cryptocurrency as a liquidity solution provides additional options for guests and lays the foundation for  Choctaw Casinos & Resorts as it looks to the future of gaming sector finance, setting a new standard in financial accessibility and convenience.

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“Working with Choctaw Casinos & Resorts and Everi’s CashClub to make this a reality is a historical moment for both the casino and blockchain industries. Bitline was conceptualized to advance the gaming sector and offer a wider variety of financial options for the casino industry,” said Richard Jones, CEO at Bitline. “We’re entering an era where digital assets can fundamentally enhance the gaming experience, providing casino operators with a future-ready financial framework that can expand and evolve as the industry does. This collaboration is just the beginning of our vision to modernize casino payment capabilities on a global scale.”

“We are excited to be the first casino in North America to offer our guests another way to play,” said Thomas McDonald, Senior Director of Cage and Credit at Choctaw Casinos & Resorts. “Through our long-term relationship with Everi, a leader in fintech solutions, we will continue to invest in innovative offerings that provide the discerning gaming VIP access to funds in a safe and secure manner.”

 The Choctaw Casinos & Resorts integration represents only the first phase of Bitline’s broader mission to bring cryptocurrency solutions to casinos and casino patrons worldwide. As cryptocurrency and digital assets continue to gain traction in the gaming sector, Bitline’s easy to integrate and patented payment model stands poised to become a key player in transforming gaming finance. Future plans include expanding  services across other major casinos and gaming markets, both domestically and internationally, establishing cryptocurrency as a new standard feature of the gaming experience.

The solution is to be formally rolled out on March 7, 2025, with the first transaction taking place at Choctaw’s Durant, Oklahoma, location.

The post Bitline and Everi Announce Crypto Liquidity for Choctaw Casinos & Resorts in Industry First Development appeared first on Gaming and Gambling Industry in the Americas.

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SOFTSWISS Reveals Crypto Betting Shift in 2024: Altcoins Command Nearly Half of Crypto Bet Sum

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As Bitcoin’s value skyrocketed in 2024, crypto betting saw a significant shift, shaking up the iGaming industry. Altcoins now account for nearly half of all crypto wagers. SOFTSWISS, a global tech provider and pioneer in crypto gambling, unveils Bitcoin’s game-changing impact in its annual ‘State of Crypto’ overview.

According to the 2024 annual crypto industry report, with its market capitalisation soaring to approximately 1.8 trillion euro, Bitcoin alone accounted for more than half of the total cryptocurrency market value, further solidifying its influence in both traditional and digital financial ecosystems. SOFTSWISS experts analysed data from over half of a thousand brands to reveal relevant crypto tendencies that evolved during 2024.

 

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The Big Picture: Stable Growth in the iGaming Landscape

SOFTSWISS data shows that the Total Bet Sum, encompassing both fiat and cryptocurrency, grew by 35.9% in 2024 compared to the previous year. Similarly, the Total Bet Count experienced the same growth rate, reflecting a strong upward trend in overall betting activity.

A detailed analysis since 2022 highlights a significantly faster rise in fiat bets compared to crypto. During 2024, the Fiat Bet Sum surged by 40.1%, showcasing its stable growth. Meanwhile, a more cautious approach toward crypto payments has resulted in a slower growth rate for the Crypto Bet Sum. This shift contributed to a 2.5-percentage-point (p.p.) decline in the crypto share[1] in 2024, emphasising the increasing dominance of fiat transactions in the betting landscape.

 

[1] Based on data from ongoing projects

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Bitcoin’s Exchange Rate Impact

SOFTSWISS data confirms that cryptocurrency continues to play a significant role in iGaming payments. In 2024, the Crypto Bet Sum increased by 18.7% compared to the previous year. However, the Crypto Bet Count declined by 12.8%, indicating a more cautious approach to crypto betting amid Bitcoin’s rising exchange rate.

The surge in Bitcoin’s value also drove a 1.4x increase in the average crypto bet in 2024, while the average fiat bet remained stable. This trend highlights a strong correlation between the total wagered sum and fluctuations in cryptocurrency exchange rates.

Vitali Matsukevich, Chief Operating Officer at SOFTSWISS, comments: “The sharp appreciation of Bitcoin in the final quarter of 2024 led to a more conservative approach among players toward crypto betting. At the same time, the increased value of Bitcoin resulted in higher average bet amounts, positively impacting the overall Crypto Bet Sum. As Bitcoin’s exchange rate fluctuates, players are anticipated to continue adopting a more cautious approach when wagering their Bitcoin.”

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Altcoins Make up Nearly Half of Crypto Wagers

Altcoins’ share growth is another significant trend gaining momentum during 2024. According to SOFTSWISS data from operators reporting in crypto, the top five cryptocurrencies in iGaming – Bitcoin, Ethereum, Litecoin, Tether, and Dogecoin – have consistently formed the top 5 ranking over the years. However, their market dynamics have shifted significantly.

In 2023, altcoins represented only 26.8% of total bets, but this share surged to almost half in 2024, reflecting a growing preference among crypto players for alternative digital assets. In 2024, Bitcoin’s share dropped by over 17 percentage points, while Tether increased by 7.3 p.p., Litecoin grew by 6.5 p.p., and Ethereum rose by 3.4 p.p.

 

A new trend is emerging in iGaming, where established brands like Rollbit and Shuffle leverage proprietary tokens to enhance player engagement. These gaming-specific tokens offer seamless integration, reduced volatility, and exclusive perks, fostering innovation in payments and business growth. By creating internal ecosystems with unique rewards and potential external partnerships, proprietary tokens strengthen player loyalty. However,  developing these tokens requires significant resources, including substantial marketing budgets, to build trust and encourage adoption.

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Vitali Matsukevich, Chief Operating Officer at SOFTSWISS, summarises: “Bitcoin’s rate surge in 2024 has driven higher average crypto bet sizes, yet the decline in total crypto bets suggests players are diversifying and managing risks more cautiously. The growing adoption of altcoins and proprietary gaming tokens highlights a shift toward more stable and engaging financial ecosystems. For operators, balancing fiat and crypto while leveraging payments innovation will be crucial for sustained growth in the evolving iGaming landscape.”

 

About SOFTSWISS

SOFTSWISS is an international technology company with over 15 years of experience in developing innovative solutions for the iGaming industry. SOFTSWISS complies with 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 27,800 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.

The post SOFTSWISS Reveals Crypto Betting Shift in 2024: Altcoins Command Nearly Half of Crypto Bet Sum appeared first on European Gaming Industry News.

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