Even though the global volume of iGaming betting grew by 51.2% during 2023, the majority of users still prefer to use fiat currencies. The crypto betting volume also increased, but its share of the total volume fell by 3.9% over the year.
SOFTSWISS, a leading provider of tech solutions for the iGaming industry, published a report on the use of cryptocurrencies in the gambling market in the past year. The data shows that the global number of bets in the industry grew by 51.2% over 2023.
According to the report, the volume of betting in the iGaming industry done in cryptocurrencies decreased slightly in 2023. For instance, it was 31.4% of the total in 2022 and 27.5% in 2023. However, despite the fact that the percentage of crypto bets decreased, the quantitative indicator rose significantly. In 2023, gambling users utilized digital assets 21.1% more often.
It’s also worth noting that although iGaming users prefer digital assets to fiat currencies, the amount of an average bet still varies. For example, the average fiat bet amount was €0.8 in 2023, while the average crypto bet amount ranged from €1.59 to €1.88.
The most popular cryptocurrencies in the gambling industry during 2023 were:
- BTC (73.3%);
- ETH (9.9%);
- LTC (6.6%);
- USDT (4.6%).
According to Vitali Matsukevich, COO at SOFTSWISS, to attract new players, iGaming projects must expand their capabilities, offering users fast transactions and enhanced privacy, which are inherent only to digital assets.
Affilka, an affiliate marketing platform from SOFTSWISS, attracted more than 24 million new players for 320 clients from around the world in 2023. And SOFTSWISS is actively exploring the African market and is internationally recognized as one of the leaders in the sector.
