Cryptocurrency
Prediction market Futuur launches hundreds of real-money event markets with trading in 7 cryptocurrencies š®
Ā
Futuur, which provides the largest selection of prediction markets available at one URL, announced that after extensive testing it is officially launching its real-money markets to forecasters around the world.Ā Real-money markets have been added alongside Futuurās already existing play-money markets, with trading available in seven cryptocurrencies: Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Dogecoin (DOGE), Tron (TRX), Bitcoin Cash (BCH), and the USDC stablecoin.
With the goal of generating more accurate predictions via the wisdom of the crowd, Futuur provides forecasters the opportunity to bet on the outcome of future events in areas like politics, sports, science, and business.Ā Similar to a stock market, pricing is determined by market activity, fluctuating as traders buy and sell positions in event outcomes. The result is an always up-to-date forecast that aggregates information from across diverse perspectives and accounts for changing information over time.Ā Futuur makes these forecasts public and easy to interpret, providing a percentage estimate of each outcomeās likelihood to occur.
The industry-leading range of liquid markets available for betting is facilitated by an automated market maker (AMM), a type of algorithm that replaces the function of an order book in traditional exchanges, and which has been used increasingly in the world of DeFi to power decentralized exchanges like Uniswap. In Futuurās case, the AMM provides always-on liquidity, allowing forecasters to buy or sell a position immediately, at any time, without the need for a counterparty on the other side of the transaction.
Operating since 2017 with play-money markets, Futuur has generated crowd-driven predictions for over 44,000 events, with bets coming from more than 25,000 forecasters.Ā The average Brier score (a measurement used by statisticians to evaluate the accuracy of probabilistic predictions) across all resolved markets with bets is 0.168, a notable achievement given that the prize for bettors has been social reputation and skill-building, and did not include a financial component until now.
Now with the ability to bet with crypto and put more āskin in the gameā, Futuur predicts that its platform will generate even more accurate forecasts.Ā Says founder Tom Bennett āweāre very happy with the results Futuur forecasters have generated trading our play-money markets, and weāre incredibly excited about the prospects for our real-money markets.Ā We expect that an additional financial incentive will lead to even better accuracy, and move us closer to our goal of helping to improve decision-making by providing more accurate forecasts.ā
To underscore this, Futuur has created a market about its own marketsā performance, asking whether play-money or real-money markets resolved in 2021 will be more accurate.Ā The current crowd-powered estimate for the real-money and play-money versions of this market are 71% and 75%, respectively (real and play-money markets operate independently, and generate separate forecasts).
In order to offer legal real-money wagering, the platform has obtained a gaming license from the Ministry of Justice in CuraƧao. This allows the service to provide real-money betting in most of the world, but it does exclude certain jurisdictions, including the US, Australia, Colombia, and the Netherlands.Ā For forecasters in restricted jurisdictions, not to worry!Ā Play money markets will continue to be available to all countries.
Powered by WPeMatico
Ā
SOFTSWISS, a tech company and pioneer in crypto gaming with over 15 years of experience, conducted a survey revealing that the majority view crypto as a key driver for growth in new markets. Experts alsoĀ analysed this yearās crypto bets to share the latest insights.
Bitcoin recently reached a historic high, getting closer to 90,000 euro per coin. However, during the third quarter of 2024, it faced its sharpest drop in several years. SOFTSWISS experts examine how these market shifts have influenced iGaming performance in the quarterly āState of Cryptoā analytics.
A Quarter of the Worldās Population Engages in iGamingĀ
Global iGaming statistics indicate that approximately 26% of the worldās population were ever engaged in iGaming. By 2028, the iGaming market is projected to reach 243.2 million users, with a market volume nearing 130 billion euro, a substantial portion of which is expected to involve cryptocurrency.Ā
SOFTSWISS data shows that during the 9 months of 2024, the Total Bet Sum, including both fiat and crypto, increased by 43.1% compared to the same period of 2023. Simultaneously, the Total Bet Count showed even more impressive growth, surpassing 44.5%.
An in-depth comparison analysis since 2022 demonstrates fiat bets are rising much more rapidly than crypto. A comparison between the first nine months of 2024 and the same period of the previous year revealed that the Fiat Bet Sum achieved a 50.4% boost. The conservative approach toward payment methods has resulted in Crypto Bet Sum growing at a slower pace compared to fiat and has led to a modest 4-percentage-points (p.p.) decline in the crypto share in 2024.
Ā
[1] Based on data from ongoing projects[
Potential of Crypto in iGaming 2025
According to the SOFTSWISS iGaming Trends 2025 Report, cryptocurrency is set to remain one of the preferred payment methods within the sector. Based on the companyās survey, 58% of respondents identified crypto as the primary driver of growth in new markets, underscoring its essential role in shaping the industryās future.
Vitali Matsukevich, Chief Operating Officer at SOFTSWISS, reflects on the possibilities of crypto: āIntegrating crypto payments allows iGaming businesses to operate globally, delivering greater speed and convenience. With iGamingās naturally borderless reach, this expands platformsā access to a wider international audience, boosting their global growth potential.ā
āWhat is more, crypto transaction fees can be almost three times lower compared to traditional fiat gateways, allowing iGaming businesses to save on processing costs and reinvest that capitalā, adds Max Krupyshev, CEO of CryptoProcessing by CoinsPaid.
SOFTSWISS data confirms stable interest in crypto. In the first nine months of 2024, the Crypto Bet Sum increased by 15.2% compared to the same period the previous year. A long-term quarter-by-quarter analysis reveals a consistent growth pattern, though the third quarter of 2024 saw a 9 p.p. decline from the previous quarter. The drop aligns with the decline in the exchange rates of major cryptocurrencies, including Bitcoin, Litecoin, and Ethereum, which occurred in the third quarter.
Meanwhile, the Crypto Bet Count rose by 16.2% in Q3 2024, indicating stable interest in crypto gaming. This combination reveals that while engagement in crypto betting remains steady, the total wagered sum is closely correlated to fluctuations in cryptocurrency exchange rates.
Altcoins Share Growth
The top five most popular cryptos in iGaming have remained stable over the years, with some shifts in the ranking order. Bitcoin, Ethereum, Litecoin, Tether, and Dogecoin are the most popular among crypto players. While altcoins accounted for only 25.1% of bets over the first nine months of last year, their share increased significantly to over 47% during the same period in 2024.
Ā
Bitcoinās share dropped by 22 p.p. during the nine months of 2024 compared to the same period of 2023. At the same time, Tether and Litecoin saw the most impressive share growth, with over 8 p.p. and 7.8 p.p., respectively. Ethereum strengthened by 4.9 p.p.
Another impactful trend reveals some casinos, like Rollbit and Shuffle, utilise their own iGaming tokens to boost player engagement. Tokens designed specifically for gaming offer enhanced compatibility across platforms, lower volatility, and exclusive perks for users. Crypto drives the development of new payment methods and business growth.
Vitali Matsukevich summarises: āCrypto offers iGaming operators key advantages beyond lower costs and global reach. Blockchain enhances safety and fairness through transparency and traceability, with each transaction and game result permanently recorded and tamper-proof. Partnering with trusted crypto experts allows operators to harness these benefits, positioning themselves for growth and effectively navigating market shifts.ā
The new SOFTSWISS iGaming Trends 2025 Report offers more insights about crypto in the ever-evolving iGaming sector. The visionary report is free to download via the link.
Ā
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 companyās 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 worldās first Bitcoin-optimised online casino solution. The expert team, based in Malta, Poland, and Georgia, counts over 2,000 employees.
The post SOFTSWISS Survey Q3ā24: 58% Cite Crypto as Key Driver in New Markets appeared first on European Gaming Industry News.
Ā
As the European crypto community prepares for the implementation of the MiCA, Kyrrex is organizing an online X panel to discuss the potential impact and future trajectory of the industry under this new regulatory framework.
The panel āIs MiCA that Bad? The Future of Crypto in Europe,ā will take place on November 14, 2024, at 12:00 CET on X Spaces.
This event aims to offer an in-depth examination of the challenges and opportunities that MiCA presents, drawing on the expertise of industry leaders and stakeholders.
Key speakers for the discussion include Mike Romanenko and Kevin Plumpton from Kyrrex,
Tomer Warschauer Nuni from Kima Network, Andrea Zapparoli Manzoni from H4ckManac, Thanos Tsavlis from Cyberscope, and Anoop Nannra from Trugard Labs. Their insights will help attendees understand how MiCA may reshape the crypto landscape and what this means for different segments of the market.
āAs MiCA ushers in a new regulatory era for the crypto industry, open discussions are crucial for navigating this transition effectively. By bringing together voices from various sectors, we aim to foster a deeper understanding and proactive approach to the opportunities and challenges ahead,ā said Mike Romanenko, CVO & co-founder of Kyrrex. āEngaging in conversations like these helps ensure that the community is informed and prepared for the future of crypto in Europe.ā
The panel will be structured to encourage interaction and participation, allowing attendees to submit questions and engage in a discussion with the panel. Topics are expected to include compliance, innovation, and strategies for navigating the evolving regulatory environment.
This event offers professionals, enthusiasts, and stakeholders an opportunity to gain a clearer perspective on what lies ahead as MiCA begins to take effect. It will also provide a space for dialogue and knowledge-sharing, fostering a greater understanding of the potential impacts on the crypto sector in Europe.
Panel āIs MiCA that Bad? The Future of Crypto in Europeā details:
- Date: November 14, 2024
- Time: 12:00 CET
- Platform: X Spaces
The post Kyrrex to host online panel discussion on MiCA and the future of crypto in Europe appeared first on European Gaming Industry News.
Cryptocurrency
United States Online Gambling Industry Research 2023-2029: Cryptocurrency Gains Momentum, Rising Popularity of Esports, Operators Capitalize on Mobile-First Platforms
TheĀ āUnited States Online Gambling Market, By Region, Competition, Forecast and Opportunities 2019-2029FāĀ report has been added toĀ ResearchAndMarkets.comāsĀ offering.
The United States Online Gambling Market was valued at USD 9.5 billion in 2023, and is expected to reach USD 15.99 billion by 2029, rising at a CAGR of 8.90%
The United States online gambling market has experienced significant growth in recent years, driven by a combination of factors. One key driver is the increasing legalization of online gambling across various states. As more states recognize the potential economic benefits and tax revenues associated with online gambling, they are passing legislation to allow for its operation. This has created a favorable regulatory environment, enabling online gambling operators to enter the market and offer their services to a wider audience.
Technological advancements have also played a crucial role in the marketās growth. The widespread availability of high-speed internet and the proliferation of smartphones have made online gambling more accessible than ever before. Consumers can now conveniently access a wide range of gambling options from the comfort of their own homes or on the go, leading to increased participation and engagement.
Furthermore, the growing consumer demand for online gambling has fueled market expansion. The convenience, variety of games, and potential for significant winnings have attracted a large and diverse customer base. Additionally, the COVID-19 pandemic has further accelerated the shift towards online gambling as traditional brick-and-mortar casinos faced temporary closures and restrictions. Overall, the United States online gambling market is poised for continued growth as more states legalize and regulate the industry, technology continues to advance, and consumer demand remains strong.
Expansion of Mobile Gambling
One of the prominent trends in the United States online gambling market is the expansion of mobile gambling. With the widespread adoption of smartphones and the increasing availability of high-speed internet, more consumers are turning to mobile devices for their gambling activities. Mobile gambling offers convenience and flexibility, allowing players to access their favorite games anytime and anywhere.
Operators are capitalizing on this trend by developing mobile-responsive websites and dedicated mobile applications. These platforms provide a seamless and optimized gambling experience, with user-friendly interfaces and a wide range of games tailored for mobile play. The convenience of mobile gambling has attracted a new segment of players who prefer the flexibility of betting on the go.
Emergence of Live Dealer Games
Another significant trend in the United States online gambling market is the emergence of live dealer games. Live dealer games bridge the gap between online gambling and the traditional casino experience by offering real-time interaction with professional dealers through high-definition video streaming.
Players can participate in games such as blackjack, roulette, and baccarat, enjoying the social aspect and immersive atmosphere of a land-based casino from the comfort of their homes. The popularity of live dealer games can be attributed to the desire for a more authentic and interactive gambling experience. Players can chat with the dealers and other participants, creating a sense of community and enhancing the overall entertainment value. The advancements in technology, such as improved video streaming capabilities and enhanced user interfaces, have contributed to the growth of this trend.
Integration of Cryptocurrency
The integration of cryptocurrency as a payment method in the United States online gambling market is gaining traction. Cryptocurrencies such as Bitcoin and Ethereum offer advantages such as enhanced security, faster transactions, and reduced fees compared to traditional payment methods. This has led to an increasing number of online gambling operators accepting cryptocurrencies as a form of payment. The use of cryptocurrency in online gambling appeals to a tech-savvy audience that values privacy and decentralization.
It also enables players from jurisdictions with strict gambling regulations to bypass restrictions and participate in online gambling activities. As the adoption of cryptocurrencies continues to grow, it is expected to have a significant impact on the online gambling market, providing players with more options and operators with increased flexibility in payment processing.
Integration of Esports Betting
Esports betting is gaining momentum in the United States online gambling market, driven by the growing popularity of competitive video gaming. Esports refers to organized multiplayer video game competitions, where professional players compete for prizes. The integration of esports betting allows players to wager on the outcomes of these competitions, adding an additional layer of excitement and engagement.
Esports betting appeals to a younger demographic that is passionate about gaming and follows esports events closely. The availability of live streaming platforms and dedicated esports betting websites has made it easier for players to participate in this form of gambling. Operators are expanding their offerings to include a wide range of esports titles, tournaments, and betting options to cater to the growing demand.
-
Anthony Novac6 days agoVICI Properties Inc. Enters into Agreement with Indigenous Gaming Partners Related to PURE Canadian Gaming
-
Australia5 days ago
Regulating the Game Announces its Latest Addition to its 2025 Masterclass Series in Sydney
-
Latest News6 days ago
HĆLLE GAMES LET IT REIN
-
Balkans6 days ago
A Successful Debut for SYNOT Group at BEGE Expo
-
Latest News5 days ago
Week 50/2024 slot games releases
-
Compliance Updates5 days ago
Florida Gaming Control Commission Collaborates with Local Law Enforcement Partners to Address Illegal Gambling Activity and Shut Down Illegal Casinos
-
Compliance Updates6 days ago
EGT Digital obtained a licence to operate in the regulated market in Peru
-
Betson Enterprises5 days ago
Betson Appoints Todd Cravens as SVP of Gaming Division
