SOFTSWISS conducted a survey revealing that most people see cryptocurrencies as the main driver of growth in new markets. Experts also analyzed this year’s cryptocurrency bets to share the latest insights.
Bitcoin recently reached an all-time high, approaching 90 thousand euros per coin. However, during the third quarter of 2024, it suffered its sharpest drop in several years.
SOFTSWISS experts examine how these market changes have influenced iGaming performance in the quarterly “State of Crypto” analysis.
A quarter of the world’s population is involved in iGaming
Global iGaming statistics indicate that approximately 26% of the world’s population has been involved in this activity. By 2028, the iGaming market is expected to reach 243.2 million users, with a market volume close to 130 billion euros, with a substantial portion expected to be in cryptocurrencies.
SOFTSWISS data shows that during the nine months of 2024, the total sum of bets, including fiat and cryptocurrencies, increased by 43.1% compared to the same period in 2023. Simultaneously, the total number of bets showed further growth more impressive, exceeding 44.5%.
A detailed comparative analysis since 2022 demonstrates that betting on fiat currencies is growing much faster than that on cryptocurrencies. Comparing the first nine months of 2024 with the same period of the previous year, the sum of fiat bets grew by 50.4%.
So, this conservative approach towards payment methods has resulted in slower growth in the sum of cryptocurrency bets. This led to a modest 4% drop in cryptocurrency share in 2024.
SOFTSWISS shows the potential of cryptocurrencies in iGaming for 2025
According to the SOFTSWISS iGaming Trends Report 2025, cryptocurrencies will continue to be one of the preferred payment methods in the industry.
Based on the company’s research, 58% of respondents identified cryptocurrencies as the main driver of growth in new markets, highlighting their essential role in shaping the future of the industry.
Vitali Matsukevich, director of operations at SOFTSWISS, reflects on the potential of cryptocurrencies. “Integrating cryptocurrency payments allows iGaming companies to operate globally, offering greater speed and convenience. So, with iGaming’s borderless reach, this expands the platforms’ access and boosts their global growth potential.”
“Even more importantly, cryptocurrency transaction fees can be almost three times lower compared to traditional fiat gateways, allowing iGaming companies to save on processing costs and reinvest that capital,” adds Max Krupyshev, CEO of CryptoProcessing by CoinsPaid.
SOFTSWISS data confirms stable interest in cryptocurrencies. In the first nine months of 2024, the sum of cryptocurrency bets increased by 15.2% compared to the same period in the previous year.
A long-term, quarter-by-quarter analysis reveals a consistent pattern of growth. The third quarter of 2024 saw a 9% drop from the previous quarter. But this drop is in line with the decline in exchange rates for major cryptocurrencies, such as Bitcoin, Litecoin and Ethereum, which occurred in the third quarter.
Meanwhile, the number of cryptocurrency bets increased by 16.2% in the third quarter of 2024, indicating a stable interest in cryptocurrency gaming.
Therefore, this combination reveals that while cryptocurrency betting engagement remains stable. Therefore, the total staked will continue to be strongly linked to fluctuations in cryptocurrency exchange rates.
Altcoins share growth
The five most popular cryptocurrencies in iGaming have remained stable over the years, with some changes in the ranking order. Bitcoin, Ethereum, Litecoin, Tether and Dogecoin are the most popular among cryptocurrency players.
While altcoins accounted for just 25.1% of bets in the first nine months of last year, their share has increased significantly to over 47% during the same period in 2024.
Bitcoin’s share fell by 22% during the nine months of 2024 compared to the same period in 2023. At the same time, Tether and Litecoin had the most impressive share growth, with over 8% and 7.8%, respectively. Ethereum strengthened by 4.9%.
Another impactful trend reveals that some casinos, such as Rollbit and Shuffle, use their own iGaming tokens to increase player engagement.
Tokens designed specifically for gaming offer improved cross-platform compatibility, lower volatility, and unique perks for users. In other words, cryptocurrency drives the development of new payment methods and business growth.
Vitali Matsukevich summarizes: “Cryptocurrency offers iGaming operators important advantages in addition to lower costs and global reach. Blockchain increases security and fairness through transparency and traceability, with every transaction and game result permanently recorded and tamper-proof.”
“Partnering with trusted cryptocurrency experts allows traders to leverage these benefits, positioning themselves for growth and effectively navigating market changes.”
The new 2025 Trends Report offers more insights into cryptocurrencies in the ever-evolving iGaming sector and can be downloaded for free HERE.
