SOFTSWISS insights on Crypto growth in iGaming
SOFTSWISS, a renowned iGaming provider, released a report containing data and analysis on the evolution of cryptocurrency throughout its Online Casino Platform, Sports Betting Platform, and Game Aggregator users.
The material in the research is based on anonymously obtained comparison data for Q3of 2021 and the same time in 2020.
According to the data, the number of cryptocurrency bets increased 2.8 times year on year in Q3 2021. This pattern continued in 2021, with a 28% rise from Q2 to Q3 of 2021.
Andrey Sorovoitov, SOFTSWISS’s COO, stated:
“This tremendous rise is attributed not only to SOFTSWISS’ organic expansion, but also to rising global digital usage. Marketing is becoming increasingly important to iGaming firms. This increases the growth in online gaming and betting among female audiences and young players over the age of 21, who utilize cryptocurrencies in their everyday life in general and for online betting in specific. This is mirrored in the growing use of cryptocurrency in iGaming.”
Cryptocurrency is steadily eroding the value of fiat currencies. The share bets in crypto vs flat climbed by 27.6% in Q3, 2021 over Q3 2020. Comparable figures for Q2 and Q3 2021 reflect the increased pattern in crypto appeal, with the share of crypto bets increasing by 10.3 percentage points from 33 percent to 43.3 percent, correspondingly.
Sorovoitov, went on to say:
“This phenomenon is most likely attributable to the increase in the number of crypto brands. While they were still beginners to the industry in the third quarter of 2020, they can now be regarded as seasoned participants in the crypto gaming sector this year. This has also been aided by the growth of these companies into emerging markets.”