Previous Year’s Ups & Downs in Crypto Sector

Having collected and compared inputs from 700 online casino partners that utilize Game Aggregator and the Casino Platform, SOFTSWISS came up with another comprehensive analysis of crypto trends from 2022. Based on the data they’ve acquired, the company noted that the year behind us was not the brightest one for crypto.

However, the crypto innovator firmly believes that the situation will improve in months to come. With the help of innovative tools and solutions for increased efficiency and safety, the network of cryptocurrency users will continue to grow steadily.

Fiat Bets Take the Lead in 2022

Even though the year behind brought a plethora of fluctuations in the crypto market, the overall bet amount made through the SOFTSWISS platform grew by 31% compared to 2021. The gross gaming revenue, which represents the difference between the amount wagered and the amount won, increased by 36% YoY.

On the other hand…

…when data from 2021 and 2022 are compared, the overall amount of crypto bets dropped by 14.6% to 20.2 billion euros, which resulted in the fiat share growth. By the end of 2022, the overall share of fiat bets amounted to 76% of the total player bets.

BTC Still Remains #1 Crypto Option

Despite decreasing by over 60% in price in 2022, Bitcoin is still in the lead. As far as the data reveal. It accounts for 72.7% of the total crypto bets. Ethereum and Litecoin take second and third place, with 13.6% and 5.5% respectively.

Yet, Vitali Matsukevich, Chief Operating Officer at SOFTSWISS predicts that the decreased interest from 2022 won’t cause major disturbances in the already strong network of crypto users. He is positive that players will continue to opt for digital assets because of the speed, anonymity, and decentralized nature.

“Despite all digital coin fluctuations, crypto has already gained a significant share among players and operators and has become an integral part of the market. For this reason, SOFTSWISS continues to strengthen its partners’ projects, whether fiat or crypto, with new innovative tools and solutions, providing operators with security, reliability, and top-level service.”

Speaking of, In March 2022, the company presented the In-Game Currency Conversion feature, a powerful tool that enables the automatic conversion of digital coin bets into fiat wagers. Thanks to this, players are given access to a much wider range of games and more freedom with payment options.

Initially, all crypto bets were converted into USD, but in November 2022, a major update took place, enlarging the selection to a total of 9 fiat currencies. Aside from USD, funds can now be converted to EUR, CAD, NZD, NOK, JPY, BRL, and two more currencies.

Unstoppable Innovator

Throughout January and February, SOFTSWISS has delivered a couple of new solutions and tools, bringing more value to its clients.

Experimenting with cross-product integration, the company presented a jackpot solution for sportsbook projects. A couple of days later, it came up with a Tournament Tool, an easy-to-set-up solution with 5 different winner selection strategies.

During ICE London 2023, SOFTSWISS showcased FinteqHub, the PCI DSS-certified payment gateway which gives operators an increased level of flexibility with payments. This solution encompasses all in-demand payment methods, including card payments, open banking, e-wallets, and vouchers from Canada, Brazil, New Zealand, India, and multiple countries all over Europe.

Source:

“Crypto Bets Drop 14.6% While Ether Grows Its Share: SOFTSWISS Sums Up Ambiguous 2022”, softswiss.com, February 20, 2023.