Connect with us

Cryptocurrency

9M 2023 Crypto in iGaming Landscape: Moderate Growth Amidst Fiat Rise

Published

on

9m-2023-crypto-in-igaming-landscape:-moderate-growth-amidst-fiat-rise
Reading Time: 4 minutes

 

SOFTSWISS’ latest analysis indicates that the cryptocurrency segment is experiencing slower growth compared to the broader iGaming industry. The pioneer in offering cutting-edge crypto iGaming software presents insights into the latest crypto gaming trends.

The analysis is founded on the data collected across 530+ brands powered by the company. It takes into account the in-game currency conversion capabilities, enabling SOFTSWISS clients to seamlessly involve players with cryptocurrency holdings in games originally tailored for fiat only.

 

IGAMING MARKET GROWTH

During the first three quarters of 2023, the iGaming market consistently grew. In absolute terms, the total wagered amount showed a 36.6% increase compared to the same period of the previous year, while the number of bets saw an even more impressive growth of almost 50%.

 

STATE OF CRYPTO

In the comparative analysis of crypto bets spanning the first nine months of 2023 and the same period of the previous year, a noteworthy 18.7% monetary growth is observed. At the same time, the number of crypto bets has surged by 66.4% since 2022. Simultaneously, the share of crypto in the Total Bets Sum demonstrated a slight decrease by 4.3 p.p. to finally settle at 28.5%.

Diving deeper into the analysis, which has been ongoing since the beginning of 2022, it becomes evident that the sums of crypto bets experienced incremental growth from quarter to quarter during this period, but their share in the Total Bets Sum decreased slightly, primarily due to the more impressive quarter-to-quarter increase in the sums of fiat bets.

 

Andrey Starovoitov, Co-CEO at SOFTSWISS, comments: “An 18% increase in crypto bet sums may appear very modest when juxtaposed against a more substantial 45% expansion in fiat bets during the first three quarters of 2023. Taking into account the state of crypto in other spheres, such as fundraising, where the third quarter showed its worst results since the end of 2020, the position of cryptocurrencies in iGaming could be evaluated as comparatively stable at the moment.”

 

FLUCTUATING CRYPTO BET

The analysis of the average bet presents an engrossing picture. While the average fiat bet remains stable, hovering around 0.82 euro during the first three quarters of 2023 as well as in the same period of 2022, the average crypto bet lost almost 30 p.p. on average, displaying a quarter-to-quarter variability. It initially increased from 1.56 euro at the end of 2022 to 1.88 euro in Q2 2023 but subsequently declined to 1.59 euro in Q3 2023. Such fluctuations can be attributed to the inherent volatility in cryptocurrency rates and market expectations.

 

SOLID TOP OF CRYPTOCURRENCIES

The Top 5 most used digital coins in iGaming remained unchanged since the beginning of 2022.

During the first three quarters of 2023, the cryptocurrency distribution structure is as follows:

  • Bitcoin – 74.9%
  • Ethereum – 8.9%
  • Litecoin – 6.0%
  • Tether – 4.6%
  • Dogecoin – 3.0%

 

In the world of digital currencies, Bitcoin has witnessed the most substantial growth, marked by a 3.9 p.p. increase in its share compared to the first three quarters of the previous year. Conversely, Ethereum experienced a decline, losing 6.3 p.p. in its market share during the same period.

Andrey Starovoitov, Co-CEO at SOFTSWISS, summarises: “Due to their technological nature and relatively recent emergence, cryptocurrencies are developing within a rapidly changing landscape, pivoting on diverse economic and societal factors. At the moment, we are observing their moderate popularity among players in the growing fiat segment, and the results of the final quarter of 2023 hold increasing fascination. Being the ‘number one’ crypto solutions provider, SOFTSWISS remains committed to imparting its expertise on the relevant trends in iGaming.”

 

About SOFTSWISS

SOFTSWISS is an international iGaming company supplying ISO 27001-certified software solutions for managing gambling operations. The expert team, which counts 1,400 employees, is based in Malta, Poland, Georgia, and Belarus. 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 Software and the Jackpot Aggregator. In 2013, SOFTSWISS was the first in the world to introduce a Bitcoin-optimised online casino solution.

$SCOR

BetOnline.ag Integrates $SCOR, the Premier Crypto Token of the Pro Sports Industry, Ahead of Super Bowl

Published

on

betonline.ag-integrates-$scor,-the-premier-crypto-token-of-the-pro-sports-industry,-ahead-of-super-bowl

 

BetOnline.ag, a preeminent global online sportsbook, casino and poker platform, announced a strategic partnership with Sweet to integrate $SCOR as a newly supported cryptocurrency.

$SCOR, the native token powering verified fan identity and rewards across major professional sports, is now available for deposits and withdrawals within the BetOnline cashier, just in time for Super Bowl Sunday on February 8.

This integration establishes a direct utility lane for the $SCOR, allowing fans to use tokens — earned through engagement in officially licensed sports games or purchased on exchanges — for real-world gameplay on a leading gaming platform.

For BetOnline, the partnership represents a strategic entry point into the burgeoning world of on-chain sports fandom, connecting the platform with high-value, verified fan liquidity.

“We are constantly evolving to meet our players where they are, and that now includes the intersection of sports fandom, gaming and blockchain. $SCOR isn’t just another cryptocurrency…it’s the premier token of the sports industry. This partnership allows us to directly engage with a new generation of sports fans who value real-world gameplay, verifiable achievements and interoperable rewards,” said Eddie Robbins III, CEO of BetOnline.ag.

$SCOR functions as the on-chain layer for fan identity, verifiable engagement and portable rewards across Sweet’s network of major professional sports IP partners that boast officially licensed sports-themed web3 PvP and mini games.

By accepting $SCOR, BetOnline gains a direct connection to verified fan activity from SCOR’s ecosystem of major professional sports IP partners, introducing a high-value audience of competitive sports fans and crypto-savvy players.

To celebrate the launch, BetOnline will offer exclusive deposit perks for $SCOR users, including free-play credits and casino spins for qualifying deposits. Future community activations are planned, featuring token-gated private poker and casino tournaments for verified $SCOR holders, with prizes awarded in both $SCOR and cash.

“We built $SCOR to bridge the passion of sports fandom with tangible utility and value. BetOnline’s integration is a landmark moment, turning fan-earned $SCOR into a key for premium gaming experiences. This partnership validates our vision of a reward-first portable fan identity,” Sweet EVP of Global Partnerships Betsy Proctor said.

The post BetOnline.ag Integrates $SCOR, the Premier Crypto Token of the Pro Sports Industry, Ahead of Super Bowl appeared first on Americas iGaming & Sports Betting News.

Continue Reading

Crypto Turnkey

GR8 Tech Delivers 1.6× Higher Deposit Conversion and 3× Reduction in Transaction Costs for Crypto Turnkey Clients

Published

on

gr8-tech-delivers-1.6×-higher-deposit-conversion-and-3×-reduction-in-transaction-costs-for-crypto-turnkey-clients
Initial performance metrics from providers utilizing GR8 Tech’s Crypto Turnkey solution indicate notable enhancements in player conversion and operational efficiency within months of transitioning to cryptocurrency payments.
Operators utilizing Crypto Turnkey are indicating:
1.6 times greater conversion for initial and subsequent deposits
● Cost per transaction can be as much as 3 times lower than conventional payment methods.
Withdrawal processing up to 2.5 times quicker
“The conversion improvements and cost reductions we see would take much longer to achieve through payment optimization alone,” said Denys Parkhomenko, GR8 Tech CPO. “Crypto Turnkey unlocks access to the fastest-growing and highly valuable player demographic in iGaming. When over half of your target audience is already using crypto for investments, offering it as a payment method is a must—numbers prove it.”
The findings confirm the business rationale presented at Crypto Turnkey’s inception: cryptocurrency eliminates reliance on payment providers and draws higher-value participants who deposit larger amounts and wager more often. With settlement finishing within minutes rather than days, operators are experiencing enhanced margins and clearly superior player satisfaction.
Crypto Turnkey is now accessible worldwide and can be implemented as a new option or transitioned from Hyper Turnkey.

Unlock Your Crypto Advantage at ICE Barcelona 2026

The post GR8 Tech Delivers 1.6× Higher Deposit Conversion and 3× Reduction in Transaction Costs for Crypto Turnkey Clients appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Continue Reading

Acebet

Golden Frog Launches Acebet, a Next-Gen Crypto Gaming Platform

Published

on

golden-frog-launches-acebet,-a-next-gen-crypto-gaming-platform

 

Golden Frog has launched Acebet, an online crypto gaming platform built on advanced blockchain infrastructure. Acebet delivers a seamless blend of casino action, sports betting, and innovative digital features in one unified ecosystem.

With intuitive navigation, fast onboarding, and seamless gameplay, Acebet prioritises ease of use above everything. Fast deposits, quick loading, and responsive support ensure a smooth user experience. Acebet also introduces Chat Rain, a social feature that randomly drops crypto rewards to active users in the chat, fostering a lively, community-driven gaming atmosphere.

Golden Frog says that Acebet reflects the evolving expectations of online players. The company explains that Acebet was developed to reflect the evolving expectations of digital users who value speed, security, global accessibility, and transparency. According to Golden Frog, Acebet demonstrates the company’s vision of merging high-level technology with a user-centred gaming experience.

Acebet launches with more than 2000 casino titles, including slots, table games, card games, and exclusive in-house content. The platform includes modern video slots, classic reel games, table games, card variations, and exclusive in-house content crafted to meet the expectations of both casual users and experienced players.

This broad portfolio ensures that new users immediately find familiar favorites while long-term players can continue discovering fresh experiences. The platform also features Acebet Originals, offering unique games that many competitors don’t provide.

Acebet integrates provably fair technology, allowing players to verify game outcomes using cryptographic hash seeds independently. This creates a fully transparent environment where fairness is not only promised but demonstrable and auditable.

Through its live casino features, Acebet brings professional dealers, real-time interaction, and high-definition streaming together in a refined digital environment. The live casino brings professional dealers, real-time interaction, and high-definition streams in a digital environment inspired by physical casino play.

The post Golden Frog Launches Acebet, a Next-Gen Crypto Gaming Platform appeared first on Americas iGaming & Sports Betting News.

Continue Reading

Trending

Get it on Google Play

Fresh slot games releases by the top brands of the industry. We provide you with the latest news straight from the entertainment industries.

The platform also hosts industry-relevant webinars, and provides detailed reports, making it a one-stop resource for anyone seeking information about operators, suppliers, regulators, and professional services in the European gaming market. The portal's primary goal is to keep its extensive reader base updated on the latest happenings, trends, and developments within the gaming and gambling sector, with an emphasis on the European market while also covering pertinent global news. It's an indispensable resource for gaming professionals, operators, and enthusiasts alike.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2024 - Recent Slot Releases is part of HIPTHER Agency. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania