SOFTSWISS, a leading technology firm in crypto gaming with over 15 years of expertise, recently conducted a survey uncovering that the majority of industry professionals view cryptocurrency as a critical factor for unlocking growth in emerging markets. Its analysis of 2024’s crypto betting trends sheds light on the evolving landscape of iGaming, with Bitcoin’s recent market movements serving as a notable highlight.
Despite reaching a peak close to €90,000 per coin earlier this year, Bitcoin experienced its steepest decline in years during Q3 2024. SOFTSWISS’s latest State of Crypto report examines how such fluctuations have influenced the iGaming sector.
The Global iGaming Audience
Recent statistics show that approximately one-quarter of the global population has participated in iGaming at some point. Looking ahead to 2028, the market is expected to grow to 243.2 million users and generate nearly €130 billion in revenue, with cryptocurrency projected to hold a substantial share.
Between January and September 2024, SOFTSWISS data revealed a 43.1% year-on-year increase in the Total Bet Sum across fiat and crypto bets. The Total Bet Count demonstrated even stronger growth, surpassing 44.5%. However, while fiat betting surged by 50.4% during this period, cryptocurrency betting saw slower growth, resulting in a modest 4-percentage-point decline in its overall share.
The SOFTSWISS iGaming Trends 2025 Report highlights cryptocurrency’s continued prominence in the industry. A company survey found that 58% of respondents identified crypto as the leading driver of expansion into new markets.
Commenting on its potential, SOFTSWISS COO Vitali Matsukevich noted, “Integrating crypto payments allows iGaming businesses to operate globally, delivering greater speed and convenience. With iGaming’s naturally borderless reach, this expands platforms’ access to a wider international audience, boosting their global growth potential.”
Additionally, Max Krupyshev, CEO of CryptoProcessing by CoinsPaid, pointed out the cost-efficiency of crypto transactions. “Crypto transaction fees can be almost three times lower compared to traditional fiat gateways, allowing iGaming businesses to save on processing costs and reinvest that capital,” he said.
Despite fluctuating exchange rates impacting Q3 performance, crypto betting remains a growth area. SOFTSWISS data showed a 15.2% increase in the Crypto Bet Sum for the first nine months of 2024, compared to the same period in 2023. Although a 9-percentage-point drop was recorded in Q3, the Crypto Bet Count rose by 16.2%, reflecting stable player engagement.
Altcoins and iGaming Innovations
The popularity of altcoins in iGaming is growing steadily. While Bitcoin remains dominant, its share of total bets fell by 22 percentage points during the first nine months of 2024 compared to the same period in 2023. Meanwhile, Tether and Litecoin experienced significant growth, increasing by 8 and 7.8 percentage points, respectively. Ethereum also strengthened its position, gaining 4.9 percentage points.
Altcoins now represent over 47% of crypto bets, up from 25.1% the previous year. Moreover, some casinos, such as Rollbit and Shuffle, have introduced proprietary tokens to attract players. These custom gaming tokens are designed for improved platform compatibility, reduced volatility, and exclusive player perks.
Matsukevich emphasized the broader benefits of crypto: “Blockchain enhances safety and fairness through transparency and traceability, with each transaction and game result permanently recorded and tamper-proof. Partnering with trusted crypto experts allows operators to harness these benefits, positioning themselves for growth and effectively navigating market shifts.”
By embracing cryptocurrency, iGaming businesses can not only reach wider audiences but also capitalize on lower costs, greater transparency, and improved trustworthiness. As crypto continues to evolve, it promises to remain a vital element in the industry’s future development.
Source:
''SOFTSWISS_Insights from State of Crypto 9M'24'' Press Release. November 21, 2024.
