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Crypto Analytics by SOFTSWISS: trends and tendencies of the igaming market

| By Micah Passman
SOFTSWISS has prepared detailed analytics on the state of crypto gambling in 2021, and also presented forecasts for 2022

SOFTSWISS was the world’s first company to introduce a cryptocurrency-optimised solution for online casinos platforms in 2013. At the moment, the company holds the status of the igaming industry leader in crypto gambling. The company shares statistics and reviews on the development of cryptocurrencies in the igaming industry on a regular basis.

The data provided in the article is a part of the company’s detailed report on the state of cryptocurrencies in 2021. It presents the results of the SOFTSWISS Game Aggregator and the SOFTSWISS Casino Platform.

Crypto bets overview

The increase in the number of bets in cryptocurrencies throughout the year confirms the global trend that the position of cryptocurrencies has strenghthened and that they are increasingly more popular among online casinos users. Сompared to January 2021, when the share of bets made in crypto was at 23% in December of the same year, it shows the number almost doubled to 40.1%. At the same time, the volume of bets in cryptocurrencies over the same period increased by more than 2 times, namely, by 259.21%.

“Cryptocurrencies have long been not just a trend in the gambling industry, but an obvious stage in its evolution. With significant benefits related to transaction speed and wide market boundaries, the use of cryptocurrencies opens up significant opportunities for both players and operators. This leads to their constant growth. Those industry representatives who won’t develop their business in this direction in the near future risk losing a competitive advantage in the “battle” for users. Our statistics clearly demonstrate this,” commented Andrey Starovoitov, COO at SOFTSWISS.

Crypto and fiat currencies

Despite the fact that fiat currencies are still the most preferred option for betting, crypto is gradually but steadily growing in its share. Over the year, the percentage of bets in fiat currencies decreased by 23.6 percentage points: from 88.2% in 2020 to 64.6% in 2021. In its turn, cryptocurrencies showed a growth of 20.1 percentage points. 

“Cryptocurrencies have long ceased to be an attribute of IT geeks. This is a global phenomenon and its impact on the global economy cannot be denied. The igaming market is adapting to a new reality in which cryptocurrencies will become as important (if not more important) than fiat in the next couple of years. Convenience, speed, and usability are their huge advantages. SOFTSWISS took into account all these factors and created an entire ecosystem for its clients, which, in part, is made possible by the Crypto processing solution by CoinsPaid,” said Andrey Starovoitov, COO at SOFTSWISS.

Top cryptocurrencies 

Bitcoin still occupies a leading position by a huge margin among altcoins: 80.11% of all crypto bets are made using BTC. According to the share of all cryptocurrencies used, the list of the most popular coins is as follows:

  • Bitcoin (BTC)                    80.11%
  • Ethereum (ETH)               9.88%
  • Litecoin (LTC)                   4.52%

Download the full report to learn more.

At the same time, the share of Bitcoin by the end of 2021 decreased compared to the beginning of the year: from 83% in Q1 to 72.32% in Q4. This is related to the growing interest of users in cryptocurrencies such as Ethereum. Its share increased from 9% in the first quarter to 14.12% in the last quarter of 2021.

Top crypto providers in the igaming market

Below is the list of providers actively working with crypto based on the share of all crypto bets in 2021. According to the statistics, BGaming players most often used cryptocurrencies in games and ensured the share of bets in crypto at the level of 21.10% of the total:

  • BGaming             21,10%
  • Platipus               13,53%
  • Evolution            13,47%
  • Booming             10,76%
  • Betsoft               7,08%

To find out more information about the most crypto-oriented games, successful providers within the framework of operating crypto-casinos, as well as statistics on crypto-currencies in the context of GGR, download the full report. “Cryptocurrency allows casino and dice site operators to work with a young audience. In this regard, the SOFTSWISS Crypto Solution will become an indispensable tool that adapts classical operating models to modern requests. We have every reason to believe that the share of cryptocurrencies will continue to grow this year and, accordingly, will open up even more opportunities for igaming representatives. In turn, we have experience, innovation and expertise to help both newbies and experienced players in the market to make the most of these opportunities,” summed up Andrey Starovoitov, COO at SOFTSWISS.