SOFTSWISS's Q3 2024 survey highlights crypto's critical role in iGaming, with 58% citing it as key to new market growth.
SOFTSWISS, a leader in crypto gaming technology, has released its Q3 2024 survey, showing that 58% of respondents see cryptocurrency as the driving force behind growth in emerging iGaming markets. The report also dives into betting trends, market projections, and the impact of cryptocurrency fluctuations.
In its latest survey, SOFTSWISS revealed that cryptocurrency continues to play a pivotal role in iGaming's evolution. The report highlights that 58% of respondents identified crypto as the primary growth driver in new markets. This underscores its enduring appeal as a payment method, particularly for its ability to bypass geographic barriers and enhance transaction efficiency.
Vitali Matsukevich, COO of SOFTSWISS, emphasized the transformative potential of crypto:
Integrating crypto payments allows iGaming businesses to operate globally, delivering greater speed and convenience. This expands platforms' access to a wider international audience, boosting their global growth potential.
SOFTSWISS's analysis of betting trends from the first nine months of 2024 paints a complex picture. While the Total Bet Sum rose by 43.1% compared to the same period in 2023, fiat betting saw faster growth than crypto. Fiat bets increased by 50.4%, whereas crypto bets grew at a slower pace, resulting in a 4-percentage-point decline in crypto's share of the overall betting market.
Despite the slower growth, the Crypto Bet Sum rose by 15.2%, and the Crypto Bet Count climbed by 16.2%, indicating sustained interest. Market volatility, including Bitcoin's sharp decline in Q3 2024, significantly influenced the total wagered amounts.
The rise of altcoins stands out as a significant trend in 2024. Altcoins like Tether, Litecoin, and Ethereum saw their shares grow, collectively accounting for over 47% of bets in the first nine months of the year—up from 25.1% in 2023. Bitcoin's dominance declined, losing 22 percentage points over the same period.
SOFTSWISS also noted a growing trend of casinos adopting proprietary tokens, such as Rollbit and Shuffle. These tokens provide players with unique perks, lower volatility, and better compatibility across platforms, further diversifying the crypto ecosystem.
Looking ahead, SOFTSWISS's iGaming Trends 2025 Report suggests cryptocurrency will remain a cornerstone of the industry. The lower transaction fees, increased transparency, and enhanced security offered by blockchain technology provide iGaming operators with unique advantages.
Max Krupyshev, CEO of CryptoProcessing by CoinsPaid, added:
Crypto transaction fees can be almost three times lower compared to traditional fiat gateways, allowing businesses to reinvest savings into growth.
As iGaming continues to expand, cryptocurrency remains at the forefront of innovation, driving market growth and reshaping payment systems. The SOFTSWISS report provides a comprehensive look into these trends, offering a free download for further insights.
About SOFTSWISS
With over 15 years of expertise, SOFTSWISS is a trailblazer in the iGaming sector, offering innovative solutions, including crypto-optimized platforms and a wide range of gaming products. The company's commitment to excellence cements its position as a market leader. To learn more about Softswiss activity and rewards, visit our extended review.
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