Earlier this year Bitcoin went through its latest halving event, which SOFTSWISS believes has had a significant impact on the number of players opting to use the world’s number one cryptocurrency when gambling.
Off the back of the halving, SOFTSWISS analysed the data gathered from around 250 crypto-friendly brands powered by the igaming supplier that engaged in crypto transactions during the first half of 2024.
Underpinning the significant growth of digital currencies within gaming, the total bet sum, encompassing both fiat and crypto, grew by 46.6% in the first part of 2024 compared to the same period of the previous year
SOFTSWISS also detailed that in the first half of 2024, the Crypto Bet Sum showed a steady 2.3% increase compared to the same period of the previous year.
Andrey Starovoitov, Co-CEO at SOFTSWISS, commented: “The anticipated impact of the Bitcoin halving, coupled with the strengthening of the Bitcoin exchange rate in the first half of 2024, may lead to a more cautious attitude among players towards using cryptocurrencies.”
Bitcoin, Litecoin, Ethereum, Tether and Dogecoin create the stable top five most popular cryptocurrencies in igaming.
Bitcoin experienced a decline of around 23%. in the first half of 2024 compared to the first half of 2023, as its exchange rate strengthened. On the other hand, Litecoin and Tether demonstrated growth of 8.9% and 7.1%., respectively.
Starovoitov summarised: “Confirming experts’ anticipations, the igaming industry is experiencing active growth, with a fifth of all bets coming from the crypto segment. The intriguing fluctuations in Bitcoin’s position promises both increased profits and a more cautious attitude toward spending.
“However, every challenge brings its own opportunities. The key to success lies in adapting by investing in employee training and software development, integrating crypto processing and ensuring your platform remains secure throughout the process.”
