SOFTSWISS, the established worldwide supplier of software program and content material for on-line casinos and sportsbooks, has launched the outcomes of its analysis which reveals that the cryptocurrency phase has skilled slower progress in comparison with your complete iGaming trade in the primary 9 months of 2023.
The evaluation carried out by SOFTSWISS was primarily based on knowledge collected from the over 530 on-line on line casino and sportsbook manufacturers that are at present utilizing the provider’s on-line gaming platform. Moreover, the corporate additionally took under consideration the in-game foreign money conversion potentialities as SOFTSWISS purchasers are in a position to play fiat solely video games even when holding simply crypto currencies in their stability.
The world iGaming market has registered fixed progress through the first three quarters of 2023. The whole amount of cash wagered went up by 36.6 % in comparison with the primary 9 months of 2022, and the variety of bets have additionally gone up by 50 % year-on-year.
However, cryptocurrency bets through the first 9 months of 2023 registered a rise of simply 18.7 % in comparison with the earlier 12 months. Nevertheless, the variety of crypto bets went up by 66.4 % in comparison with 2022. The share of crypto bets in the whole bets quantity decreased by 4.3 %, ending up at 28.5 %.
The evaluation carried out by SOFTSWISS additionally factors out that the sums of crypto bets registered incremental progress from quarter to quarter because the starting of 2022, however their share in the whole bets sum decreased, primarily on account of bigger will increase registered by the sums of fiat bets.
Andrey Starovoitov, Co-Chief Executive Officer at SOFTSWISS, underlined that cryptocurrencies are displaying indicators of weak point in different fields as properly, reminiscent of fundraising, “where the third quarter showed its worst results since the end of 2020”. However, Starovoitov concluded that “the position of cryptocurrencies in iGaming could be evaluated as comparatively stable at the moment.”
Top 5 Most Used Crypto Currencies
SOFTSWISS additionally revealed which had been probably the most used digital cash in the iGaming trade through the first three quarters of 2023. The high 5 doesn’t convey any surprises, it stays unchanged because the starting of 2022 with Bitcoin dominating the market with a 74.9 % share, Ethereum gathered 8.9 %, Litecoin adopted with 6 %, Tether had 4.6 % whereas Dogecoin wrapped up the highest 5 with 3 %.
Bitcoin additionally managed to register a rise of three.9 % in its share in comparison with the primary 9 months of 2022. Ethereum then again misplaced 6.3 % from its market share through the first three quarters of 2023.
Source: “9M 2023 Crypto in iGaming Landscape: Moderate Growth Amidst Fiat Rise“. SOFTSWISS. October 24, 2023.
