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SOFTSWISS Survey Q3’24: 58% Cite Crypto as Key Driver in New Markets

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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 also  analysed this year’s 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 ‘State of Crypto’ analytics.

A Quarter of the World’s Population Engages in iGaming 

Global iGaming statistics indicate that approximately 26% of the world’s 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. 

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.

 

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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 company’s survey, 58% of respondents identified crypto as the primary driver of growth in new markets, underscoring its essential role in shaping the industry’s future.

Vitali Matsukevich, Chief Operating Officer at SOFTSWISS, reflects on the possibilities of crypto: “Integrating crypto payments allows iGaming businesses to operate globally, delivering greater speed and convenience. With iGaming’s naturally borderless reach, this expands platforms’ access to a wider international audience, boosting their global growth potential.”

“What 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 capital”, 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.

 

Bitcoin’s 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: “Crypto 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.”

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.

 

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 company’s 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 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 Survey Q3’24: 58% Cite Crypto as Key Driver in New Markets appeared first on European Gaming Industry News.

Compliance Updates

Crypto.com Receives Limited Financial Institutions Licence in Europe

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Crypto.com has announced another regulatory milestone: its EU MiCA regulated entity has received a Limited Financial Institutions licence from the Malta Financial Services Authority (MFSA). The approval allows the company to continue delivering its full suite of stablecoin services – qualifying as payment services – across the European Union, without disruption.

This additional licence is for the provision of services exclusively in relation to electronic money tokens (EMTs). The licence was acquired to navigate a complex regulatory landscape resulting in overlapping crypto asset services (MiCA) and payment services (PSD2). By securing the Limited Financial Institution Licence, Crypto.com has addressed both regulatory regimes ensuring full compliance across every aspect of its stablecoin operations.

Crypto.com’s Malta entity received MiCA approval in January 2025, allowing the company to passport services across the European Economic Area (EEA). Notably, Crypto.com already holds a full Electronic Money Institution (EMI) licence in Europe, making it one of the most comprehensively authorised platforms operating in the region.

“We are one of the most regulated crypto platforms in the world and receiving this licence proves, yet again, that we are committed to working with authorities to ensure the strongest compliance standards. Our stablecoin business and services remain a pivotal part of our European product offering so it was vital we secured this limited licence to continue providing seamless access to our institutional and retail customers,” said Eric Anziani, President and Chief Operating Officer at Crypto.com.

The limited Financial Institutions licence adds to Crypto.com’s expanding list of licences and registrations globally including, but not limited to, a UK Electronic Money Institution licence (FCA), a Major Payment Institution licence in Singapore (MAS), a Virtual Assets Service Provider licence in Dubai (VARA), U.S. Money Transmitter Licences, U.S. Designated Contracts Market (DCM) & Derivatives Clearing Organization (DCO) licences and recently conditional approval from the U.S. OCC for a National Trust Bank Charter.

The post Crypto.com Receives Limited Financial Institutions Licence in Europe appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Crypto

UK To Explore Crypto Gambling Framework

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Legal crypto gambling could be coming to the UK after the country’s regulator announced on Thursday (Feb 26) that it will begin working on new rules to support the sector.

Gambling Commission executive director Tim Miller revealed in a speech this week that regulatory officials have concluded allowing licensing operators to transact in crypto is likely a wise move.

Responding to growing demand for gambling with cryptocurrencies, and undeniable evidence that consumers are turning to the black market in search of crypto-friendly operators, Miller said the process was already underway.

Characterising the project as “tentative” and promising no timelines or outcomes, Miller nevertheless said he had instructed the commission’s Industry Forum to begin work on detailing how crypto gambling could be regulated in the UK.

The Forum is composed of industry figures from the online and retail sectors, including representatives from Flutter and Rank Group.

Addressing the Betting and Gaming Council AGM on Thursday, Miller said: “There will be significant challenges and risks to overcome in considering this topic but I am keen that we approach this in the spirit of exploring the art of the possible, rather than starting from a position of finding all the reasons not to innovate.”

Recent work undertaken by the Gambling Commission to try and understand why gamblers choose to leave the regulated market and gamble offshore has identified a desire to bet with crypto as the second-largest motivator.

One UK legal expert told EEGaming that the project was “long overdue”.

“A credible, regulated pathway would be a more effective consumer protection tool than de-facto prohibition if it reduces displacement offshore, which invariably it would,” said Chris Elliot, a partner at Wiggin law firm in London.

Elliot noted that the commission does not appear to be proposing specific “crypto licences”, but is instead “exploring a framework under which UK-licensed operators could accept crypto as a consumer payment option”.

Regulators in partnership

The Commission’s renewed willingness to consider allowing crypto gambling is also being driven by more secure legislative foundations that are set to come into effect in the UK.

Miller pointed to the “Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2025”, which was presented by the government in December.

The new statutory instrument would regulate more uses of crypto-assets by establishing a series of regulatory frameworks.

This comes as the Financial Conduct Authority (FCA) is itself consulting on new rules for crypto in the UK.

This work will form the bedrock of any efforts by the Gambling Commission to loosen crypto gambling rules, Miller said.

It may also provide some clues as to the timeline of any crypto-liberalisation by the commission, Elliot noted.

“If the FCA authorisation regime is phased in over a longer period, mainstream adoption in UK gambling could be correspondingly slow,” he warned.

“That said, existing AML registration requirements for crypto-asset service providers already provide some baseline assurance, which could support earlier experimentation if the commission is serious about tackling black-market growth.”

Fraud on the brain

Regulatory sources who spoke to EEGaming pointed to the role the Financial Action Task Force (FATF) may be playing in accelerating crypto regulation.

The international money laundering watchdog — which has had notable interventions in the gambling market over recent years through its temporary greylisting of Malta and Gibraltar — has told national governments they should be regulating crypto providers, not trying to prohibit their use in the legal economy.

The UK is scheduled to undergo an assessment by the FATF in 2027.

That provides an extra impetus for the UK to have its crypto regulations in order, but allowing digital assets to flow into the economy more readily, especially via gambling, brings added risks.

“Like any new payment method, it will introduce new fraud/AML typologies,” explained Elliot. “But ‘new’ doesn’t automatically mean ‘higher’. In some respects, crypto can support a more robust control environment than fiat payments, particularly where cash is involved,” he noted.

“Operators wishing to drive this agenda will need to be able demonstrate, with evidence, why these risks can be managed through the controls put in place,” he said.

Crypto revolution?

Although the UK Gambling Commission is only at the beginning of this process, Miller’s announcement is sure to have an impact internationally, particularly at some of the European regulators with which it shares close ties.

EEGaming asked the Netherlands Gambling Authority, which signed a new memorandum of understanding with the commission in November, whether it would now be considering a crypto-revolution of its own.

“Although the KSA thinks allowing crypto payments might help battle illegal offering, there are too many complications right now to just go along with it,” a spokesperson said.

“We are looking into this for the future.”

The post UK To Explore Crypto Gambling Framework appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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$SCOR

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

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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.

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