ISLAND, Malta, September 12, 2022 /PRNewswire/ — Crypto expansion continues to cover all areas of entertainment, including the dynamic iGaming industry. Sensitive to high-tech trends, online gambling is entering a new phase that is forming a crypto community of players and operators. SOFTSWISS, the leading software provider for iGaming projects, unveils the latest look at its cryptocurrency data for the first half of 2022.
iGaming Status of Crypto H1 2022 by SOFTSWISS
The Bit Picture: Overall Growth in Betting
The overview of fiat & crypto bets
The data presented in the company report reflects the state of crypto in the first half of 2022 compared to the same period last year. It is based on the results of the company’s most requested products: the SOFTSWISS Casino Platform and the SOFTSWISS Game Aggregator.
Total bets: How is the market growing?
Before observing the crypto trends, it is important to first review the general state of the iGaming market. Indicators like the Total Bet Sum clearly show the development of the industry. SOFTSWISS data confirms that interest in iGaming is steadily increasing year on year. The sum of all bets shows an increase of 46.4% compared to the first half of 2021. Compared to the same period in 2020, this number increased by almost 247%.
When will crypto betting beat fiat?
It becomes a logical question considering the dynamic growth of crypto when looking at fiat and cryptocurrencies for betting. With 34.8% of the total betting volume in the first half of the current year, digital coins continue to take the share of all bets made. It has increased by 5 percentage points compared to the data collected a year ago.
At the same time, when analyzing the ratio of different currencies, crypto lost 2.37 percentage points of its share in the first two quarters of 2022. It seems to be a short-term trend despite the general growth.
“This slight decline in the second quarter should not affect the overall trend of increasing the share of cryptocurrencies in total betting volume. We have recorded stable growth for several years, which contributes to the further development of crypto gambling. A crypto community is growing among gamers. The interests of this audience are now largely influencing the growth of the entire industry. Operators that meet the needs of this community will gain a competitive advantage and become market leaders,” commented с Vitaly MatsukevichCOO at SOFTSWISS.
Which digital coins are catching up with Bitcoin?
It is no surprise that Bitcoin still remains the most popular digital currency in the iGaming industry – 71.2% in H1 2022. However, there is an obvious trend in Etherium’s growth with a 7 percentage point increase in H1 2022. Now Etherium holds almost 15% of the shares. The top 3 ranking is still closed by Litecoin, which also shows 2.15pp growth
- Bitcoin (BTC) 71.2%
- Ethereum (ETC) 14.7%
- Litecoin (LTH) 6.15%
The full list of top cryptocurrencies is available in the SOFTSWISS report.
The next step in crypto gambling. what will it be
Despite a slight decline in crypto betting during the second quarter of 2022, the overall picture shows that cryptocurrencies are still penetrating the iGaming industry as well as other areas of entertainment. Nevertheless, the regulation of markets worldwide and the diversification of cryptocurrencies are likely to have a significant impact on the development of iGaming in the years to come.
“Stricter regulation of crypto operations will obviously affect the development speed of this business field. However, the enormous potential of crypto projects and, accordingly, the interest of leading industry representatives will play a decisive role. We’ll see further.” Growth in this niche combined with a new, non-standard approach to gamification of the gaming process with novelties such as NFT and tokens,” concluded Vitali Matsukevich, COO at SOFTSWISS.
About SOFTSWISS
SOFTSWISS is an international iGaming company offering certified software solutions for managing gambling operations. SOFTSWISS owns a number of gaming licenses and offers iGaming software solutions from a single source. In 2013, SOFTSWISS was the first provider in the world to introduce a Bitcoin-optimized online casino solution.
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SOURCE SOFTSWISS
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