In H1 2023, the use of cryptocurrencies in iGaming projects increased considerably. They make up about a third of the total betting volume. BTC remains the most popular asset for gambling.
SOFTSWISS shared some statistics on the state of affairs in iGaming, collected during the first six months of this year. Thus, compared to the first half of last year, the total amount of bets rose by 37%, while their number increased by 49%.
The number of bets involving cryptocurrencies grew by 83.6% compared to the previous period. In monetary terms, the YoY growth was 16.5%. The share of crypto bets is 29.5% and hasn’t changed significantly, as the total number of bets has also gone up. At the same time, the average bet amount decreased compared to H1 2022 from €2.84 to €1.80, but rose from €1.69 seen in the previous period.
The top 5 cryptocurrencies used in iGaming remain the same for the second year and are as follows:
- BTC — 76.2%;
- ETH — 9.0%;
- LTC — 5.5%;
- USDT — 4.7%;
- DOGE — 2.6%.
Changes in the use of cryptocurrencies were only relative. For example, in the YoY comparison, the share of BTC has grown 7.9% over the past six months, while the shares of ETH and LTC have declined by 5.5% and 2.5%, respectively.
“Despite fluctuations in cryptocurrency rates and changes in their shares in the iGaming market, digital coins continue to be popular among players. We believe that implementing innovative crypto-centric technologies along with highly customized approaches will empower industry representatives to deliver the most exciting player experience, thereby fostering continued growth. In a rapidly changing digital landscape, success will favor only those adept at harnessing emerging trends and quickly adapting to the escalating demands of sophisticated audiences,” comments Andrey Starovoitov, Co-CEO of SOFTSWISS, on the results of the first half of the year.
SOFTSWISS is the largest technology provider that started offering crypto solutions in the iGaming sphere. The presented data is collected based on the statistics of 500 brands operating under the company’s management.
Part of the performance growth recorded in the SOFTSWISS report is due to the company’s new crypto-centric feature, which has enabled crypto users to seamlessly participate in games originally designed for fiat currency transactions. The company’s achievements were recognised at the SiGMA Americas Awards 2023, in which SOFTSWISS was honored as Platform Provider of the Year.
