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Report shows cryptocurrencies remained popular among online players in first half of 2023

SOFTSWISS, an iGaming solutions provider, has released its half-annual cryptocurrency report, which revealed a 16.5% year-on-year growth in terms of the amount of money wagered during 1H23 and there were 83.6% more bets placed using crypto when compared to the second half of 2022.

The statistics have been compiled utilizing data from around 500 online gaming brands currently powered by the SOFTSWISS platforms.

Overall, cryptocurrencies accounted for 29.5% of the total wagered amount during the first half of the year 2023 which was quite steady with the same period in 2022, indicating "continued player interest in this option regardless of fluctuations in cryptocurrency rates."

However, the average bet using crypto continues to fluctuate, dropping from €2.84 in 1H22 to €1.69 in 2H22 before rising back to €1.80 in 1H23.

SOFTSWISS Co-CEO Andrey Starovoitov said:
"The crypto market is rather sensitive to changes in the global environment. The SOFTSWISS analysts conducted a correlation analysis between key player activity indicators and the Fear and Greed Index. The analysis revealed that even during the period of relative apprehension in the cryptocurrency market, business indicators remain precisely high."

According to the SOFTSWISS Online Casino Platform, the top 5 most used digital coins remained unchanged in 2022-2023.

Among cryptocurrencies, Bitcoin continues to dominate with its share of bets received rising to 76.2%. Ethereum, which lost share, came in second with 9% followed by Litecoin (5.5%), Tether (4.7%) and Dogecoin (2.6%).

Starovoitov added:
"Despite fluctuations in cryptocurrency rates and changes in their shares in the iGaming market, digital coins continue to be popular among players. SOFTSWISS, as the ‘number one' provider offering cutting-edge crypto solutions, creates a robust ecosystem for the iGaming industry.

We believe that implementing innovative crypto-centric technologies along with highly customised approaches will empower industry representatives to deliver the most exciting player experience, thereby fostering continued growth. In a rapidly changing digital landscape, success will favor only those adept at harnessing emerging trends and quickly adapting to the escalating demands of sophisticated audiences."

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Source: https://europeangaming.eu/portal/latest-news/2023/08/10/141177/83-crypto-growth-softswiss-reveals-igaming-insights/