“In the swiftly evolving landscape of gambling regulations, crypto-friendly solutions appear to be more promising than ever,” confidently proclaimed SOFTSWISS upon the tenth anniversary of its associated casino solution.
In 2013, the igaming supplier began a quest to leverage the potential of digital cryptocurrencies. This commenced with Bitcoin, and has ultimately swelled to comprise almost 20 thus far.
Currently, more than 70 per cent of all SOFTSWISS casino platform powered projects support digital currencies, with 15 per cent of monthly payments made in crypto.
In addition, data from more than 530 brands managed by the company highlight what is billed as a “notable uptick” of 18.7 per cent in cryptocurrency betting value across the first nine months of 2023, which is compared to the same time frame one year earlier.
According to the group’s 2024 iGaming Trends report, crypto payments are marking a long-term trend that is profoundly influencing the dynamics of online gambling ecosystems.
However, SOFTSWISS points to high transaction capacity and speed, cost effectiveness, simplified KYC procedures and anonymity as this development being “hardly surprising”.
In addition, this aforementioned report also featured “a glance at the most favoured cryptocurrencies within the igaming sphere”, which is said to feature “a steady hierarchy”.
Bitcoin sits top of the tree with 74.9 per cent, which is up 3.9 percentage points when contrasted to the first three quarters of 2023.
Ethereum comes next despite a 6.3 per crop downfall to 8.9 per cent, ahead of Litecoin at six per cent, the 4.6 per cent recorded by Tether and Dogecoin’s three per cent.
“In the igaming industry, integrating digital coins is not only a trend but a strategic imperative,” commented Max Trafimovich, Chief Commercial Officer at SOFTSWISS.
“The significance of cryptocurrency lies in its ability to transcend traditional payment barriers, offering players a secure and efficient financial experience.
“This innovative approach caters to the evolving preferences of tech-savvy users and positions igaming operators at the forefront of digital innovation in an increasingly dynamic market.
“As cryptocurrencies continue to redefine financial norms, their role in igaming becomes pivotal for operators seeking to stay competitive and meet the expectations of a modern, diverse player base.”
Recent developments introduced in a bid to capitalise on this trend has delivered the introduction of an In-Game Currency Conversion feature. The permits players to access any online title, regarding its native fiat currency. SOFTSWISS is also set to embark on a series of podcasts focused on cryptocurrency topics.
