Bitcoin
Kronoverse Leaves Enjin To Use Bitcoin SV Solution For Storing In-Game Items

After relying on Enjin to define items within CryptoFights, Kronoverse has decided to leave Enjin to use its custom Bitcoin SV (BSV) solution for building in-game items. This decision will greatly benefit Kronoverse users who want a reliable system to buy, sell, and trade gear.
Why did Kronoverse choose to leave Enjin?
“We decided to leave because of problems with Ethereum,” said Adam Kling, the CEO, and founder of Kronoverse. “Bitcoin SV is the best choice for us and the value we are working to bring to the esports community.”
Making the decision to transition to BSV was the result of research and development efforts that continued to show that Ethereum was not the best fit for what Kronoverse envisioned. Here are the key issues Kronoverse dealt with when building on Ethereum:
- Ethereum is at capacity, slow, can’t scale, and expensive. This is discouraging to gamers who want to buy, sell, and trade in-game items on a frequent basis.
- Proof of Work is the only proven consensus mechanism and we lack confidence that PoS/DPoS will work.
- Ethereum 2 scaling approaches are still experimental whereas BSV has demonstrated its scaling ability.
What are some of the benefits of transitioning to Bitcoin SV?
As part of its efforts to make in-game item ownership more scalable and accessible to gamers around the world, Kronoverse is turning to BSV as its solution of choice. Kronoverse is creating a better item protocol with BSV.
BSV is also faster and cheaper to conduct trades. This means that players won’t have to worry about racking up ridiculous fees just to do things like trading duplicate items and selling unwanted items. Due to its efficiency, BSV is capable of handling millions of transactions without slowing down. Kronoverse users can have confidence that nothing will go wrong when they’re trading and selling.
Kronoverse users will also be able to use more available features that Enjin isn’t capable of like storing the 3D model of an item. Files can be stored on blockchain similar to Dropbox which is convenient and easy to use. This feature is just one of the many details that will add to the total user experience that gamers will enjoy in the Kronoverse platform.
What does this mean for existing holders of Enjin items?
If you’ve already purchased CryptoFights in-game items, you don’t need to worry. All of your Enjin-based pre-release items will be honored but these tokens will serve as a claim check for BSV tokens. To make this possible, we’re releasing a conversion smart contract in a few months which gives users the ability to melt Enjin items, keep the stored ENJ, and receive an equivalent item usable in CryptoFights.
Introducing the Kronoverse Marketplace
As part of its vision to empower gamers with true item ownership, the Kronoverse Marketplace is slated to be available for later this year. All users will be able to sell unwanted items for profit. Kronoverse users will also be able to trade with other players to find the in-game gear they want and need.
Whether you buy or win an item, it’s automatically added to your Kronoverse wallet as soon as you acquire it. Your mobile wallet app makes it easy to read any item’s description, stats (i.e. rarity, value, type, and which games it’s compatible with). Each item also has its own history that provides the original ownership, when it has been listed for sale and all previous owners of the item.
Another way users can benefit from the marketplace is the list of wanted items and items for sale. Logging into the Kronoverse system allows you to see your own items, balance, and make trades using items or cash. You can also start a trade listing with multiple items or seek rare items for a cash reward.
What’s next?
Within the next couple of weeks, the launch date for the CryptoFights open beta will be announced. The open beta will be available on Android and will be free to play. It’ll give you the chance to experience the latest updates, improved gameplay, and test out your skills against other players around the world.
When the full game and the Marketplace is released later this year, everyone will experience the power and benefits that come from transitioning Kronoverse to BSV.
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Bitcoin
Best Bitcoin Casinos: Betworthy Picks Bitstarz as the Top Crypto Casino in the U.S.

Tas-Sliema, Malta, May 01, 2025 (GLOBE NEWSWIRE) —
Itâs almost impossible to talk about the best Bitcoin casinos without mentioning Bitstarz. The casino has become synonymous to crypto gambling and itâs considered one of the best destinations for crypto players. Research from Betworthy, a casino testing facility, believes that it is indeed the top choice right now.
JOIN THE BEST BITCOIN CASINO: BITSTARZ
Overview of the Best Bitcoin Casino:
Bitstarz Casino Pros:
- 5 BTC welcome deposit bonus
- 180 extra spins as a welcome bonus
- Over 4,000 quality games
- Amazing VIP program
- Supports ten cryptocurrencies
- Weekly and monthly bonuses available
- Stellar customer service
- Withdrawals are instantly processed
Bitstarz Casino Cons:
- Geo-restricted live dealer section
- No sports betting
Bitstarz Online Casino Deposit Bonus and PromotionsÂ
- 5 BTC + 180 Free Spins: Upon signing up at Bitstarz, you will be greeted with a generous welcome package thatâs up to 5 BTC with additional 180 spins.Â
- 50% Monday Reload Bonus: Who doesnât love a good reload bonus? While this reward is only available after your fourth deposit, it gives you a 50% bonus up to 0.11 BTC.Â
- Wednesday Bonus Spins: If you deposit on Wednesday, you can receive bonus spins the day after, depending on how much you will deposit. With 1.2 mBTC, youâll get 20 bonus spins, 80 with 3 mBTC, and 200 with 6 mBTC, so take advantage of this exciting offer, especially if youâre a slot game enthusiast!
Features of This Bitcoin Online Casino That Push It Above All the Rest
Sleek Website Design: The first thing you encounter as a player when discovering the best Bitcoin casinos is how its website looks and what features it has. Bitstarz’s site is incredibly convenient and easy to navigate, especially if youâre just getting into online casino games.Â
Outstanding Customer Support Team: The Bitstarz customer service representatives are always there and available to assist you anytime. If you ever need help, address an issue, or perhaps ask a question, do not hesitate to reach them at [email protected] or use the live chat feature by clicking Help. The customer support team will get back to you promptly.Â
Instant Payouts: The best crypto casinos are often associated with instant withdrawals, and it usually takes them a little time to process all transactions, which is exceptionally convenient if you would like to withdraw your real money winnings quickly. At Bitstarz, you can withdraw your winnings using Bitcoin, which is processed instantly and comes with no fees.Â
Diverse Gaming Library: Bitstarz offers over 3,000 diverse titles and various genres, including slot games, classic table games, jackpot games, live dealer games, as well as Bitstarz original tiles such as Plinko, Dice, and Crash. This online casino also offers hot and cold games, as well as trending titles, like Hoonga Boonga, FaFa Twins, Astro pandas, and more. This is more than most other Bitcoin casino sites.
Are Bitcoin Online Casinos Legit? Bitstarz Perspective
Yes, Bitstarz is a legit and trustworthy Bitcoin online casino operating in the industry since its launch in 2014. Over almost a decade, this crypto casino online has managed to gain millions of loyal and dedicated users that take advantage of Bitcoin casino bonuses while exploring the diverse library this Bitcoin casino offers.Â
Bitstarz is owned by Dama N.V., which is operated under the laws of Curacao. The company has a valid e-gaming license and an operating license from Curacao Gaming Commission.Â
Additionally, as soon as you log into your account, your communication with the website is encrypted and secured by industry-standard encryption. Any data that you provide to the Bitcoin gambling website is safely encrypted and kept private, meaning that it is not being shared by any third parties.Â
Moreover, Bitstarz is a GDPR-compliant BTC online casino. You can get more information regarding this by carefully reading their privacy policy.
Also, Bitstarz offers provably fair games, meaning you can verify that theyâre fair by going into the games and looking for Fairness and/or Provability buttons. This also applies to Bitstarz’s original titles.Â
If youâre looking for some other Bitcoin online casinos, be sure to check out their licensing situation.
How to Register at the Best Crypto Casino
It shouldnât take more than 3 minutes to complete your registration at the best crypto casinos. Hereâs how itâs done.Â
Step 1: Sign Up for an Account
- Go to Bitstarz Casino
- Click on Sign Up
- Enter your valid email address
- Create your username and login credentials
- Create your password
- Choose your preferred currency
- Finalize the sign-up process
Step 2: Verify Your Bitstarz Online Casino Account
- Go to your email
- Check your inbox
- Look for an email from Bitstarz
- Follow the instructions to verify your account
- Wait for the verification process to complete
- Voila!
Step 3: Get Your Deposit Bonus
- Open your account using your Bitstarz Casino login details
- Click on Payments
- Choose your preferred amount
- Deposit money
- Enjoy your deposit bonus!
What You Can Find at the Best Bitcoin Casinos
Responsive Customer Service: Exploring Bitstarz was incredibly fun on its own, but what Betworthy found to be even more impressive was how quickly the customer support team responded to our questions and concerns. With every question, we received detailed answers in minutes, and we believe that is one of the best features of the online casino.Â
Bonuses and Offers: Who doesnât love a good deposit bonus? Well, at Bitstarz, you can enjoy that and so much more! Here players can take advantage of weekly bonuses on Mondays and Wednesdays, seasonal bonuses on holidays, and many more rewards during the year. So, this is your sign to sign up, make your deposit, and enjoy the offers Bitstarz provides.
No Withdrawal Fees: Yes, you heard that right! There are no withdrawal fees associated with payouts at Bitstarz. You simply withdraw your real money winnings using Bitcoin transfers, which are simple to use and come with no additional fees. Also, did we mention that theyâre processed instantly? How awesome is that!
VIP Club: For some, the truly premium online casino experience means joining loyalty memberships or clubs. We at Betworthy totally understand that! Joining a VIP online casino club oftentimes equals more rewards, bonuses, and extra special promotions that are unique for each player.Â
At Bitstarz, you can join the VIP Starz Club and have a dedicated VIP account manager who will be at your service any time of the day, outstanding bonuses, a customized bonus plan, and the ability to be the first one to try brand-new titles. Isnât that fun?
Comprehensive Review of the Best Bitcoin Casino
Launched in 2014, accumulating millions of users, and housing over 3000 online casino games, Bitstarz has managed to capture the hearts of those who are especially interested in online gambling.Â
Speedy payouts and diverse gaming selection are not the only things that make this online casino a top destination. The team at Betworthy have thoroughly explored Bitstarz Casino and have found a few things that make this website sit on top of the list of the best crypto casinos.
Game Selection: 4.95/5
Housing over 3000 online casino games, Bitstarz offers a unique way to explore your gaming preferences and needs. Here you can find various genres, including slot games, live dealer games, provably fair games, hot games, cold games, progressive jackpot slots, jackpot games, online bingo, and so many more!
At Bitstarz, you may find some of the most well-known and loved game providers, such as Red Tiger Gaming, Pragmatic Play, Genesis Gaming, Evolution Gaming, Vivo Gaming, BetSoft, Mascot Gaming, NetEnt, and more.
With the game selection of Bitstarz Casino, it doesnât matter if you enjoy classic table games, exclusive games, or live games. Everyone will be able to discover something they like here.Â
Some of the most popular games at Bitstarz include Hoonga Boonga, Hot Life, Horror House, Aztec Magic Deluxe, Lucky 10 Bells, and more. Additionally, Bitstarz offers its own original titles as well, with games like Plinko, Blackjack, Slot, Crash, and Wheel.Â
You will also find exclusive Bitstarz titles, including Master of Starz, Bitstarz Billion, and Gold Rush Frog here.Â
Bitstarz Casino seems the perfect crypto casino, especially for slot game enthusiasts, considering how diverse their slot game library is, with new games added weekly.Â
The game selection at Bitstarz allows you to enjoy your favorite casino games and explore a diverse online casino library to discover your new go-to titles.
Bonuses and Promotions: 4.8/5
New players at Bitstarz Casino can take advantage of a welcome package of up to 5 BTC that covers your first four deposits.Â
On your first Bitcoin deposit, youâll be getting a bonus of 100% up to 1 BTC, with 180 free spins. Out of the 180 free spins, you will be getting the first 20 instantly, while the rest will be added to your account at 20 spins daily.
To receive 180 free spins, however, you should deposit a minimum of 1.00 mBTC. However, if you would only like to receive the 100% bonus, the minimum deposit amount is 0.20 mBTC.
As for your second deposit, youâll get 50% up to 1 BTC, 50% up to 2 BTC on your third, and 100% up to 1 BTC.
Bitstarz Casino also offers weekly bonuses, such as a 50% Monday Reload Bonus and Wednesday Free Spins Bonus. Both of the bonuses will only become available after your initial four bonuses are finalized.Â
The team at Betworthy had a fun time exploring the bonuses, especially when it came to receiving bonus spins that we were able to use on our favorite slot games.Â
That said, we would love to see more daily offers at Bitstarz Casino in the future. Some other crypto gambling sites had more in this regard, but Bitstarz still scored higher on bonuses.
Mobile Compatibility: 4.7/5
Sadly, Bitstarz Casino does not have its own designated mobile app, which made us a bit skeptical when it came to the mobile gaming experience of the online casino.
However, we were thrilled to find that the mobile browser version of Bitstarz Casino is just as functional and straightforward to use as the desktop version.Â
We experienced no technical difficulties when exploring the mobile version of the online casino, and all the necessary features and tools were very accessible.Â
Payment Method: 4.8/5
One thing everyone should consider before signing up is that Bitstarz Casino is that itâs mainly a Bitcoin casino.Â
If you have never had an experience with using the best Bitcoin casinos; we understand that it might seem like a complex step to take. However, you can feel at ease at Bitstarz as they provide all their users with a comprehensive, step-by-step guide on using Bitcoin at their online casino.
One big plus of using Bitcoin or other cryptocurrencies as the banking option is that all of your transactions are processed instantly. Moreover, they donât come with any fees.Â
Customer Service: 4.9/5
There are several features of Bitstarz that truly stand out the moment you enter this online casino. One of them has to be, without a doubt, their customer support team.Â
The siteâs dedicated team will genuinely go out of their way to assist your every need. We love how quickly they responded to all of our questions and concerns via their live chat option.Â
If live chat is not your cup of tea, or youâd wish to describe your issue in a more detailed and precise manner, you can email the Bitstarz Casino support team at [email protected]. You can expect to receive a helpful answer promptly.Â
JOIN THE BEST BITCOIN CASINO: BITSTARZ
Things to Consider Before Signing Up at the Best Crypto Casinos
Before you click on that glowing, golden Sign-Up button to join the best Bitcoin casinos, you should keep a few things in mind.Â
We understand that the information some casinos provide may be vast and overwhelming, so for your convenience, we have gathered a few things you should consider here.
Crypto-only Bitcoin Casino: For some, this might be a piece of fantastic news, but for others, Bitstarz being a crypto-only casino might sound like a disadvantage.Â
As we can see both sides of the coin, we think itâs utterly crucial that the potential customers of Bitstarz note that this is a Bitcoin casino, meaning that the deposits and withdrawals here are processed using Bitcoin as a currency.Â
One massive advantage of Bitstarz being a crypto casino is the fact that they have no fees for payouts, and the withdrawals are processed instantly, which is a big win!
We understand that coming across a crypto casino might sound difficult, but worry not! – Bitstarz offers free and accessible resources on how to use Bitcoin for your online casino gaming experience.Â
Wagering Requirements: At Bitstarz, the welcome bonus package is well within the industry standard, albeit in the higher end. However, we think itâs fair considering the amount of bonuses youâre getting.Â
We highly recommend carefully reading the terms and conditions of each bonus you decide to claim, as they might have different wagering requirements.Â
Region Restrictions: Just because online casinos hold a license doesnât mean theyâre completely legal in all places. In some regions, however, they may be subject to many conditions depending on local laws and policies.Â
We encourage you to carefully look into the state regulations regarding online gambling and review the local laws before you register at Bitstarz or any other crypto casino sites.Â
Responsible Gaming: Being transparent about responsible gaming is one of the most prominent features of Bitstarz. As online casino players, it should be in your best interest to be accountable when gaming online. This includes knowing your own limits, taking well-deserved breaks, reading terms and conditions, taking a cool-off period when necessary, and more.Â
If you would like to learn more about responsible gaming and how to set limits on games at Bitstarz, please feel free to visit the FAQ page of the online casino.Â
Cryptocurrencies You Can Use at the Best Bitcoin Casinos
The best crypto casinos like Bitstarz have changed the game for players looking for fast, anonymous, and secure gaming experiences. While Bitcoin (BTC) remains the most popular digital currency in the casino world, Bitstarz now accepts a range of cryptocurrencies to cater to diverse player preferences. Hereâs a look at the top cryptocurrencies you can use at Bitcoin online casinos today:
1. Bitcoin (BTC)
It all started with Bitcoin. As the first and most well-known cryptocurrency, Bitcoin is the go-to option for most crypto casinos. It offers: High security through blockchain technology, Global accessibility without the need for traditional banking, Quick transactions, often completed within minutes.
2. Ethereum (ETH)
Ethereum is more than just a currency â it powers smart contracts and decentralized apps. In online casinos, ETH provides: Faster transaction times compared to Bitcoin, Lower fees in many cases, Access to decentralized gambling platforms (dApps).
3. Litecoin (LTC)
Dubbed the “silver to Bitcoin’s gold,” Litecoin is a favorite among players for: Lightning-fast processing speeds, Minimal transaction fees, Widespread adoption at crypto-friendly casinos like Bitstarz. Litecoin is perfect for players who want quick deposits and even quicker cash-outs.
4. Tether (USDT)
Tether is a stablecoin pegged to the U.S. dollar, meaning its value doesnât fluctuate like other cryptocurrencies. USDT is ideal for casino players who: Want to avoid crypto volatility, Prefer to manage bankrolls in stable, familiar denominations.
5. Dogecoin (DOGE)
Originally created as a joke, Dogecoin is now a legitimate player in the crypto world â and casinos have noticed. DOGE provides: Super-fast transaction times, Extremely low fees, A fun, casual vibe that resonates with many gamblers.
Final Word about the Best BTC Casino
We understand how crucial it is to find a trusted Bitcoin casino that satisfies all of your desires and needs. Thus, we hope our Bitstarz review has helped you decide if this crypto casino is the right match for you.
We have found our experience at Bitstarz Casino to be quite enjoyable – exploring a diverse game selection, claiming generous deposit bonuses, and taking advantage of instant payouts; what could be better than this?
No matter which of the best online casinos you choose to play at, we hope your casino experience will be as enjoyable as ours.
Last but not least, always play responsibly.Â
Stay Safe at Top Bitcoin Casinos: A Word on Responsible Gambling
Being safe while you gamble at the best Bitcoin casinos is absolutely crucial. If you donât, you might be at risk of developing unhealthy gambling behaviors, or losing control of your finances. Itâs easy to get carried away while you gamble online, so itâs important to do everything in your power to prevent that.
But you donât have to consider yourself to be a problem gambler to make use of responsible gambling tools. Itâs a good idea to consider at least one or two of the following options when you play online Bitcoin casino games.
- Deposit limits: You may be able to set up your own limits to payments at Bitcoin gambling sites. These could be daily limits, weekly limits, monthly limits or more. That way, you can keep in control of your spending, and never go over your bankroll or even worse, chase your losses.Â
- Self-exclusion: Everybody needs an online casino break from time to time, no matter how regularly you like to play. Online casinos can help you to do that by allowing you to block yourself from your account for a set period of time, like a month or a few months.
- Time checks: Money is not the only thing that you can spend too much of at an online casino. Itâs really easy to get carried away with slots as well. Thatâs why time reminders or even time blocks can be a really helpful tool to keep you safe while gambling online.
- Free helplines: Outside of the online casinos themselves, there are a lot of support options available to you. For example, you can call a wide range of free support lines around the country. One of the most popular examples of these is 1-800-GAMBLER.
- Support groups: If you want to, you can reach out to organizations like the National Council for Problem Gambling. They will be able to put you into a support group and through a 12 step program with other gamblers, which could be the help you need.
Editorial Note
This article is provided solely for informational and entertainment purposes. Nothing within should be interpreted as legal, financial, or professional advice. Readers should carry out their own research before participating in any gambling activities or signing up with any online casinos mentioned.Â
Gambling Caution
Online gambling comes with financial risks and may lead to addictive behavior or monetary loss. We urge all readers to gamble responsibly. If you or someone you know is struggling with gambling, professional help is available. In the U.S., the National Council on Problem Gambling (NCPG) can be contacted at 1-800-522-4700 or visited online at www.ncpgambling.org.
21+ only. It is up to each individual to verify whether online gambling is permitted under their local, state, or federal laws. Neither the publisher, the authors, nor any syndication partners condone or support unlawful gambling. Participation in online gambling is done at the readerâs own discretion and risk.
Affiliate Transparency
This article may include affiliate links. If you click on a link and make a purchase or register, a commission may be earned, at no extra cost to you.
Syndication and Liability Disclaimer
Any third-party publishers, media platforms, or syndication partners that republish this content do so understanding that it is meant for informational purposes only. These entities are not responsible for the legality, accuracy, or interpretation of the material.
BitStarZ
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CONTACT: BitStarZ Â https://www.bitstarz.com/ L 4, Sliema, Tas-Sliema, Malta [email protected]
Bitcoin
Stake Colombia Partners with NetRefer for its Casino and Sportsbook Affiliate Marketing Platform

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Stake Colombia, the Latin America division of Stake, has entrusted its Casino and Sportsbook brands to NetReferâs Affiliate Marketing Platform.
Colombia serves as Stakeâs operational base for expansion throughout Latin America. Their influence in the booming LatAm iGaming market began in 2023, through the strategic acquisition of Betfair Colombia and its license. âExpanding into the Colombian market is a strategic decision that aligns perfectly with our vision for growth and innovation,â said Brais Pena, Chief Strategy Officer at Stake.
This vision underscores Stakeâs commitment to establish itself as a key player within Colombiaâs market, increasing the assertion of the nationâs status as a home for innovative foreign investments.
Stake has multiple high-profile sponsorships, and missing the iGaming giant is almost impossible. It sponsors the likes of Everton FC, the UFC Franchise, and now in 2024, they announced their biggest move to date: their very own Stake F1 Team. The companyâs redefining of brand partnerships also includes a deal with Megastar rapper Drake. Now, with the establishment of Stake Colombia, the company is accelerating its massive influence in the LatAm market.
In iGaming, it takes more than high-profile sponsorships to get to the top and stay there. To win that battle, Stake Colombia has an armada of popular Casino Games, Slots, Live Casino, Blackjack, and Drakeâs favourite, Roulette, to accompany its extensive Sportsbook and keep the iGaming business skyrocketing to success. Apart from providing their customers with world-class games, how-to guides, and display boards promoting the best paying-out games, their easy-to-use platform allows players to place bets on various sporting events with minimal clicks and effort.
Stake works hard to maintain its dedication to fair play, legal operation, and transparency. This is demonstrated in their verified status with the Crypto Gambling Foundation and projects to promote responsible gambling. Their status as a âCrypto Casinoâ is backed by all the cryptocurrency giants, such as Bitcoin, Ethereum, and Dogecoin, to name a few, in the jurisdictions in which this payment method is allowed.
Also noteworthy is the companyâs commitment to security. State-of-the-art encryption methods and 24/7 customer support come as standard with Stake Colombia. Their priority to maintain player satisfaction is achieved through unique reward programs and campaigns, including their superb betting events with the rapping legend Drake, enhancing a better gambling experience and contributing to overall affiliate commission earnings.
Being a Stake.com.co Affiliate means earning commission for all bets placed on its Casino and Sportsbook, which, unlike traditional affiliate programs, means earning money even if players win. This ability to go above and beyond industry practices in various sectors has surely paid dividends to Stakeâs rise to power.
Stake Colombia has partnered with NetRefer as their Affiliate Marketing Platform provider with Casino and Sportsbook brands. NetRefer expresses its delight to have such a renowned market leader join their client portfolio and become part of their journey to continued success.
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Become a Stake Affiliate: https://stake.com.co/es/afiliados-resumen
Learn more about NetRefer: https://netrefer.com/
Bitcoin
Navigating Bitcoinâs Impact: SOFTSWISSâ iGaming Industry Overview

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In March 2024, Bitcoin soared to a historical high, nearing 70,000 euro per coin. How does this impact the iGaming market? Being a tech company with over 15 years of experience and an innovator in crypto iGaming software development, SOFTSWISS shares anticipations in its quarterly crypto analysis.
Over 220 brands powered by the company engaged in crypto transactions during the first quarter of 2024, which is 12% higher than the previous quarter. SOFTSWISS experts analyse the data gathered from crypto-friendly brands by employing extrapolation, comparative, and correlative analysis.
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iGaming Market Overview: Unveiling Anticipated Growth
The size of the global online gambling and sports betting industry is expected to rise significantly and exceed 170 billion euro by 2032, according to Statista. Based on SOFTSWISS data, the iGaming market has demonstrated a stable pattern of growth year after year.
In absolute terms in euro, the Total Bet Sum grew by 5.8% in the first quarter of the year compared to the last quarter of 2023. Analysing the year-on-year increase, comparing Q1â24 with Q1â23, the growth is more impressive, showcasing a 47.2% boost.
Simultaneously, the Total Bet Count, both fiat and crypto, displayed a slightly larger gain in the first quarter of 2024 compared to the previous quarter, surpassing 6.1%. The indicatorâs year-on-year boost is much more notable, revealing a 57.2% increase.
The popularity of iGaming in recent years has been fuelled by its global reach and accessibility due to constant technological advancements. On one hand, the quality of internet connectivity continues to rise, while on the other, new payment methods are emerging, simplifying payment procedures.
The in-depth quarterly analysis, ongoing since the beginning of 2022, reveals that fiat bets are undergoing more substantial growth compared to crypto bets. In Q1â24, the Fiat Bet Sum increased by 6.9% compared to Q4â23, while the rise of Crypto Bet Sum was at 2.4%.
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The more active growth of fiat bets led to a slight decrease in the share of crypto. In the first quarter of 2024, the crypto share in the Total Bets Sum settled at 24.4%, decreasing by 0.8 percentage points (p.p) compared to the last quarter of 2023.
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What is the State of Crypto in iGaming?
Analysing crypto bets, it is crucial to highlight that almost 93% of them are facilitated through the in-game currency conversion tool, which is gaining traction. This mechanism allows operators to engage players with cryptocurrency assets in games initially tailored for fiat only. Operators that adopt such options are gaining more competitive advantages in the market.
While the Q1â2024 Crypto Bet Sum shows a moderate 2.4% growth compared to the previous quarter, the year-on-year analysis demonstrates a 20.8% increase. The Crypto Bet Count remained unchanged in Q1â24 compared to the previous quarterâs indicator. Simultaneously, the metric increased by 21.3% year-on-year. The figures speak volumes, showcasing a consistent interest among players in crypto gaming.
âThe lack of a substantial increase in the number of crypto bets during Q1â24 can be partly attributed to the significant rise of the Bitcoin exchange rate during this period, leading players to be more cautious with their crypto bets. This trend mirrors the situation in the first quarter of the previous year when the Bitcoin exchange rate surged following a decline at the end of 2022,â comments Vitali Matsukevich, Chief Operating Officer at SOFTSWISS.
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What Distinguishes the Average Crypto Bet?
The average crypto bet increased to 1.71 euro in the first quarter of the year from 1.66 euro in the last quarter of 2023. This growth correlates with a significant strengthening of the Bitcoin rate during the first quarter of 2024.
The average fiat bet remained steady at around 0.81 euro in Q1â24 and Q4â23. The average total bet stayed constant since the second half of the previous year and is equal to 0.93 euro.
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Notably, the average crypto bet is double that of fiat. This indicates that digital currencies are preferred by higher-income players.
Why Did Bitcoinâs Share Drop?
The Top Five most operated digital coins in iGaming have remained stable during the last two years with minor changes in ranking order. The top still includes Bitcoin, Ethereum, Litecoin, Dogecoin, and Tether.
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In Q1 2024, Bitcoin experienced a significant decline of 9.4 p.p. compared to Q4 2023. This could be attributed to the bolstering Bitcoin exchange rate and players exercising a more cautious approach towards it.
In contrast, the shares of other digital coins have increased. Ethereum and Litecoin showed growth of 4.0 p.p. and 3.8 p.p., respectively, during the same period. Simultaneously, Dogecoin rose to fourth place in the ranking, leaving Tether behind.
Vitali Matsukevich, Chief Operating Officer at SOFTSWISS, summarises: âThe benefits of employing digital currencies, such as fast transactions and anonymity, still attract many players. Embracing cryptocurrencies in iGaming can boost operator profits despite their volatile nature.
As the Bitcoin rate is expected to strengthen after the Bitcoin Halving, the average crypto bet and projected gains may see a notable impact. During such promising times, it is crucial to have reliable and experienced partners to navigate the path to success.â
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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.
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The post Navigating Bitcoinâs Impact: SOFTSWISSâ iGaming Industry Overview appeared first on European Gaming Industry News.
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Best Online Sportsbooks: Betworthy Picks Bovada as the Best Betting Site