SOFTSWISS presents a report with statistics and insights into the development of cryptocurrencies in its online casino platform, sportsbook platform and game aggregator clients. The information in the report reflects comparative data for the third quarter of 2021 and the same period of 2020, collected anonymously.
Total bets on cryptocurrencies
The main conclusion drawn from the data obtained for the third quarter of 2021 is that the volume of bets placed in cryptocurrency is increasing. In comparison with the same period last year, the increase was 2.8 times. The positive trend continues throughout 2021: the increase from the 2nd quarter of 2021 to the 3rd quarter of 2021 is 28%.
“This strong growth is not only due to the organic development of SOFTSWISS, but also to the increase in digital consumption around the world. iGaming companies are increasingly investing in marketing,” said Andrey Starovoitov, COO of SOFTSWISS.
“This leads to an increase in the popularity of online gambling and betting among female audiences and young players over 21 who use cryptocurrencies in their daily lives in general and for online betting in particular. This is reflected in the growing share of cryptography in iGaming,” he continued.
Crypto x fiat coins
Cryptography is gradually encroaching on fiat currencies. Compared with the third quarter of 2020, the share of crypto betting against fiat currencies increased by 27.6% over the same period in 2021.
The upward trend in cryptography’s popularity is also confirmed by comparative data for the second and third quarter of 2021, when the proportion of crypto betting increased by 10.3%, from 33% to 43.3%, respectively.
Starovoito said: “This dynamic is likely due to the growth and development in the number of encryption brands. Although in the third quarter of 2020, they were still new to the market, they can be considered experienced players in the crypto game industry this year. The expansion of these brands into new markets also played an important role in this”.
A completely different trend is observed in sports betting. In this category, fiat currencies have an absolute advantage. In the third quarter, 98.76% of bets were placed in fiat currencies, compared to just 1.24% in cryptography.
Aleksander Kamenetskyi, Sportsbook Product Owner, noted: “This is most likely because the vast majority of sports betting customers are companies that launched their casinos without an initial focus on operating cryptocurrencies.”
Kamenetskyi added: “However, the trend has changed and now cryptocurrencies are always considered an important component in launching new projects. So I’m sure crypto will only grow in the future.”
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SOFTSWISS is an international technology brand providing certified and widely acclaimed software solutions for managing iGaming operations.
The company has a vast portfolio of products, which includes an online casino platform, games aggregator with thousands of casino games, Affilka affiliate solution and sports betting service.