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Roundtable: The future of cryptocurrency

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Cryptocurrency has really taken off over the past few years within the iGaming industry and has established an important foothold in the world of online casinos.

We spoke to Andrey Starovoitov – Co-CEO at SOFTSWISS, Daniel Heywood – Co-founder of NuxGame, and Matt Sahakian – CSO at Technamin, to talk about what the future holds for cryptocurrency and why it is now a hugely vital part of the industry.

 

How widespread is the use of cryptocurrency in online casino and sportsbook and does it have mass appeal?

Andrey Starovoitov (AS): The use of cryptocurrencies in gambling is a sustained trend that is only getting stronger from year to year. Today, we can see a certain segment of crypto casinos getting a strong foothold and taking over a considerable market share. Crypto casinos are certainly a flagship of our client portfolio along with major fiat casinos. In terms of figures, cryptocurrencies have grown 10% year-on-year to make around 35% of the SOFTSWISS turnover. This is an evident growth indicator on the back of the major coin price volatility, which shows a gradual progressive increase of player interest in this type of deposits.

Daniel Heywood (DH): There has been significant uptake in cryptocurrency adoption in various industries in recent times, including finance, IT, e-commerce and more. Additionally, outside of its use in the corporate world, it has been championed by thousands of private citizens who regularly use cryptocurrencies. This is a far cry from the image crypto had only a few years ago and serves as a testament to its growth.

Matt Sahakian (MS): I think that at this point, crypto is inseparable from our industry. Most reputable online casinos are now offering crypto payment methods and the ones that are not doing so, surely have it in their short-term roadmaps. Online sportsbooks jumped in on the trend a bit later than online casinos, but are certainly catching up as we see the rise of crypto sports betting in the industry.

 

What are the biggest advantages of using crypto for operators and players when placing wagers online?

AS: First of all, operators gain access to a whole new younger audience which generally does not overlap with the traditional fiat casino segment. The use of cryptocurrencies often gives a certain level of anonymity, which, in turn, attracts VIP players and high rollers.

On the level of operations, all crypto casino metrics such as acceptance rate, conversion rate and others are much higher compared to those of fiat casinos. For instance, the SOFTSWISS acceptance rate (successful to attempted deposits ratio) is 99% for cryptocurrencies.

All of the above is just a smidgen of the benefits from using crypto in iGaming. The main advantage is that crypto is an ever-growing trend we’ve been observing over the last five years.

DH: There are lots of benefits for both players and operators, with the speed of transaction being the most obvious. Because there is no intermediary involved in the transaction process things can be completed far quicker and with fewer steps involved, in comparison to traditional payment methods. The added – and significant – spin-off from the removal of that intermediary is the subsequent lowering of fees, making the process more streamlined and cost-effective.

MS: The foremost advantage is the added layer of security that these currencies bring, thanks to the blockchain technology they are based on. Security is always of paramount concern to both operators and players, and crypto puts both minds at ease. The decentralised nature of these currencies also amounts to higher degrees of anonymity which players prefer when it comes to their information and transaction history.

 

In which markets are a cryptocurrency solution particularly relevant?

AS: In fact, when asked which is the most popular market for cryptocurrencies in gambling, at SOFTSWISS we highlight that crypto falls into a separate new market. And it makes sense, as the differences between the crypto and fiat audiences are quite significant – the demand for transaction processing speed, availability of provably fair technology games, high game limits and even top game lists are totally different in these two segments. In general, the geography of crypto gamblers is pretty vast – Canada, Germany, LatAm (Brazil, Mexico, Argentina), and Asia.

DH: Cryptocurrencies are relevant across the world. There is no market in which they’re not playing an increasingly important role. However, they are aiding in the expansion of the iGaming industry in developing countries in particular. This is mostly due to the strict banking rules and restrictions within these jurisdictions that cryptocurrencies remedy.

MS: We’re seeing the Asian market as well as certain areas of the LatAm market embracing crypto, along with Africa and the USA. Mexico is also big on blockchain, being included in the top 50 countries where crypto is most popular. Countries like Greece, Denmark, Sweden, Romania, and the UK are also joining in on the trend.

 

Is it all about Bitcoin, or are other cryptocurrencies commercially viable?

AS: Indeed, we are observing new coins ascending against a gradual Bitcoin decline in the crypto basket, but this does not mean that it is the Bitcoin that is losing its appeal but rather that other cryptocurrencies are gaining momentum as a gambling deposit method. According to our partners’ research, customer interests are shifting towards “stable coins”. Facing the crypto winter, most crypto traders have already sold the most volatile cryptocurrency as we are living in the “cash is king” times. USDT is the leader amongst stable coins, followed by BUSD. As a result, in 2022 we saw that Bitcoin was not the ultimate GO-TO choice for payments. But don’t get me wrong, it is still huge as only Bitcoin offers indisputable decentralisation and freedom of payment. It fell from 65% to 49% in transaction count on average, but marks much lower levels for new casinos with a younger player base.

DH: Bitcoin is of course the obvious leader within cryptocurrency, but there are an increasing number of options for both players and operators. Clients are using an increasingly diverse range, featuring projects such as Ethereum, Solana and Tether and others in order to offer the widest range of payment choices available.

MS: There was a time when Bitcoin was stealing the thunder in the world of crypto. However, that’s not the case today. There are nearly 10,000 active cryptocurrencies out there. Granted that not all of them are as popular or even used, many of them like Ethereum, Binance USD, Dogecoin, Tether and XRP are just as popular with bettors as Bitcoin. That’s the thing with these currencies. You never know which one is going to take the lead.

 

What does the future hold for using сrypto in online gaming? Is it a passing trend or here to stay?

AS: Overall, despite the volatility we are observing, the crypto gambling segment and its audience will continue to grow, as it is the speed, simplicity, and a certain level of anonymity that players value most in cryptocurrencies. We can clearly see an increasing interest in this niche, and a growing number of operators, including top tier ones, are adding crypto to their payment methods.

DH: Cryptocurrencies are categorically here to stay; by now I’m certain most can agree on that. As the crypto industry evolves, new and more innovative solutions are emerging and are competing for their “15 minutes of fame.” This in turn drives more innovation. A few of these are no doubt just a passing trend, yet some will stay with us long-term and become part of the furniture in the industry.

MS: When Bitcoin was released as the first open-source software and blockchain currency back in 2009, many people thought it would be a passing trend. It has been more than a decade now, and look where we are with these currencies today. Much like any other phenomenon, it is impossible to tell where crypto is going, but a decade-long popularity and expansion are clear indicators that this is a journey which we must follow closely.

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Male students are spending almost as much on gambling as on their weekly groceries

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More than one in six students who gamble is in the ‘problem gambling category’, four times higher than the general population, according to new research.

The fourth Annual Student Gambling Survey, commissioned by GAMSTOP and Ygam, found that 17% were designated at high risk and 29% at moderate risk of gambling harm, using the threeitem Problem Gambling Severity Index (PGSI). Male students are more likely than females to be in the problem gambling category and their mean spend on gambling is almost 1.7 times higher.

Male students who gamble are spending almost as much on their gambling as on the weekly food shop. Men’s mean spend on gambling is £33.54 per week – this compares to £36 per week on groceries, according to the most recent National Student Money Survey (2024). Almost one in ten of all student gamblers spend between £51-£100 per week on gambling – significantly more than their average weekly food shop.

One in four male students (25%) take part in online sports betting, the most popular form of gambling amongst students, and male students bet on online sports an average 91 days of the year – that equates to every other working day in an average university term.

Neary one in two students (45%) say they gamble ‘to make money’, rising to 50% amongst male students. However, the reality is different – whilst one in five claim to make money from gambling, a much higher proportion (40%) say it has affected their university experience and one in ten have struggled to afford food. And 17% are using their student loan to fund gambling.

Peer pressure appears to be a driving force for gambling – nearly one in three students who gamble say they are influenced by friends, whilst one in four cite social media. Almost one in ten are influenced by university societies – almost as significant a factor as advertising, cited by 13%.

However, more than one in two students (53%) say they are aware of support available at their university for problems with their gambling and 59% of students who gamble say they would be confident about accessing support.

The Student Gambling Survey, conducted by Censuswide, is the most comprehensive of its kind, involving 2,000 students from universities near 17 UK cities, with 49% reporting having gambled at least once in the previous 12 months. Other findings include:

  • 21% of students have invested in cryptocurrency during the last 12 months. Males were more than twice as likely to have invested in cryptocurrency as females.
  • 66% of students who play video games had paid for a random chance purchase in the past – one in two agreed that random chance purchases were gambling, but one in five disagreed, highlighting a need for more education about the risks of gambling-like features in video games.
  • 23% of Asian student gamblers were found to experience ‘problem gambling’ according to the short-form PGSI, while low and moderate risk gambling were also elevated at 20% and 36% respectively.

The report makes four key recommendations:

  1.  More targeted prevention education, taking into consideration cultural differences to better meet the needs of students from BAME backgrounds.
  2. Universities should make gambling harm prevention and support an integral part of their strategies to improve student health and wellbeing, upskilling staff and doing more to communicate the availability of support.
  3. More education about the risks relating to in-game purchases in video games and their similarities and differences with regulated gambling products.
  4. Further research, including investigating the discrepancy between students’ motivation for gambling and the amount they spend gambling in a typical week.

As part of National Student Money Week, Ygam has teamed up with NUS Charity, the charitable arm of the National Union of Students (NUS) in the UK, to launch a new university campaign encouraging students to look out for signs of gambling harm in their peers and start conversations to raise awareness. The Silence the Stigma campaign will be launched at Queen Mary University of London on 6th March.

Fiona Palmer, Chief Executive Officer at GAMSTOP, said: “The Student Gambling Survey is an important piece of research that confirms the need for targeted support for the student community. Although gambling has decreased slightly in universities, the risk of gambling harm is far higher than in the general population and students need to be educated about the consequences of gambling in the expectation of making money. We know from the university roadshows we run with Ygam that there is an appetite amongst students to learn more about the support available, which includes self-exclusion to take a break from gambling”.

Dr Jane Rigbye, Chief Executive Officer at Ygam, said: “Ygam is now working with universities in every region of the UK, and while we welcome the decrease in the number of students experiencing gambling-related harms, students remain a cohort that engages in gambling in significant numbers. This makes our collaboration with universities essential to ensuring they have the tools to effectively support and safeguard students. It is important to recognise trends and understand the factors influencing these behaviours, including economic and social pressures. With much of student life now digital and online, we must continue to guide and educate to increase understanding and build resilience against the potential harms of gambling.”

The post Male students are spending almost as much on gambling as on their weekly groceries appeared first on European Gaming Industry News.

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TEAM VITALITY AND ALDI HOST RISING DAY TO CELEBRATE WOMEN IN ESPORTS

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To mark International Women’s Day on March 8th, Team Vitality is hosting Rising Day – a unique event dedicated to promoting women in esports. Free to access and open to the public, this immersive day will feature a diverse programme, including expert panels, interactive experiences, team challenges with Rising Bees players, and focused community spaces. The event aims to increase inclusion, ambition and sisterhood through gaming and competition.

A PROGRAMME DESIGNED TO RAISE AWARENESS OF HIGH-LEVEL COMPETITION

From 2pm – 5pm CET, participants will have the opportunity to engage in a unique esports and gaming experience through a variety of workshops and activities:

  • Roundtable “The Future of Women in Esports (2:30pm – 4pm CET): A roundtable discussion featuring players, key industry figures, and influencers such as Loupiote, Marie Palot and Minaleyy. Discussions will explore the impact of initiatives and support programmes for women players, the evolution of women’s competitions and their economic influence, and career opportunities in esports beyond competing professionally, followed by a Q&A session.
  • Meet and Greet (4pm – 4:30pm CET): An opportunity for guests to meet Team Vitality’s all-women League of Legends team, the Rising Bees.
  • Interactive Gaming Experience – “Rise and Compete” (4:30pm – 5pm CET): Gaming sessions with and against the Rising Bees on League of Legends, esports quizzes, and team challenges designed to highlight the importance of collaboration and strategic thinking.
  • Photoshoot (4:30pm – 5pm CET): Attendees can wear Team Vitality lifestyle apparel and experience a professional-style photoshoot.
  • Collaborative Fresco (all day): Attendees will be invited to contribute to a collective piece of art by sharing messages around the theme “The future of esports according to you”.

WOMEN’S ESPORTS AMBASSADORS TAKE CENTRE STAGE

At the heart of Rising Day, a roundtable discussion will bring together esports experts to explore the challenges and opportunities in this rapidly evolving industry.

The first part will examine the future of women in esports by highlighting the impact of initiatives and support programs, the evolution of women’s competitions and their economic impact, as well as career opportunities beyond playing professionally.

The second part will address managing toxicity on social media and the mental health of women players. Alongside several Rising Bees players, the conversations will focus on how to navigate social media while combatting toxicity, strategies for creating a safer gaming environment, and the importance of mental preparation ahead of competitive performances.

For the guest speakers, Team Vitality is proud to welcome:

  • Minaleyy – Streamer & creator of the ELITE FE project
  • Marie Palot – TV Host
  • Loupiote – Streamer & amateur gamer
  • Evalunna – Rising Bees player
  • Crowmac – Rising Bees player
  • Shâ – Rising Bees player
  • Christine Kev – Women in Gaming
  • Myriam Hocquel – Nutritionist & Sports Coach

TEAM VITALITY : TOWARDS A MORE INCLUSIVE ESPORTS SCENE

For the past four years, Team Vitality has made the development of women’s esports a top priority. Their partnership led to the creation of the French Bees women’s team, in partnership with ALDI in 2023, which evolved into the Rising Bees in 2024. Together, they are working towards building a fairer and more inclusive esports ecosystem.

Through Rising Day, Team Vitality reinforces its dedication to breaking down barriers, fostering inclusivity, and creating new opportunities for women players in competitive gaming.

“Esports should be a place where everyone can grow, thrive, and shine. Through Rising Day, we hope to raise awareness, inspire, and create a supportive environment where players can reach their full potential. Our partnership with ALDI France shows our commitment to building a more inclusive and accessible competitive scene” said Fabien “Neo” Divide, President and Co-Founder, Team Vitality.

The post TEAM VITALITY AND ALDI HOST RISING DAY TO CELEBRATE WOMEN IN ESPORTS appeared first on European Gaming Industry News.

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Adam Pentecost Joins Gaming Corps as Director of Customer Success

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Gaming Corps unveils industry veteran Adam Pentecost as new Director of Customer Success as it lays out its plans for growth in 2025.

Gaming Corps, a publicly listed game studio based in Sweden, is proud to announce the appointment of Adam Pentecost as their new Director of Customer Success. With over a decade of experience in the industry, Adam provides a proven track of helping established providers achieve growth.

Adam has been in the iGaming industry for 11 years, working in key roles for respected providers like 1X2 Network, iSoftbet, Play’n Go, IGT, and Hacksaw Gaming. In three jobs, he held Head of Commercial Account Management roles, managing a global workforce across the UK, Asia, Romania, Sweden, and Malta and reporting directly to C-suite level management and board members.

His time in the industry has seen him amass a wealth of experience in many key areas, including regulated and emerging markets, aggregation distribution, and crypto and streaming operations. He also had a deep knowledge of the constantly evolving North American landscape. These qualities will be valuable assets to Gaming Corps as they continue their global expansion strategy throughout 2025.

Adam will hit the ground running in his new role as he will be responsible for driving revenue and maximising the business performance across the board. During his first few months, he will analyse the status of key relationships, ensuring they are reaching their full potential while also formulating a strategy that will benefit the company’s rapidly growing ecosystem.

With market access and distribution at an all-time high and a dramatically expanded product roadmap emphasising innovation, Gaming Corps’ appointment of Adam Pentecost is perfectly timed to build on this momentum.

Adam Pentecost, Director of Customer Success, said: “I am excited to join Gaming Corps at such a pivotal time in their journey. It has some incredibly ambitious expansion plans, and I am eager to roll up my sleeves and help make them a reality.

“With over a decade’s worth of experience behind me, I am well aware of the challenges and opportunities that lie ahead. The team and I share a vision of what we can achieve, and I look forward to working alongside my new colleagues at Gaming Corps to help take the company to new heights.”

Alex Lorimer, Gaming Corps COO, said: “Adam’s extensive experience and proven track record make him the perfect match for Gaming Corps’ plans for 2025 and beyond. He is a respected figure within the industry, and he will be able to leverage his extensive network of contacts and industry expertise to help accelerate growth across the board. Adam is the latest piece in a collaborative jigsaw that continues to solidify our position as a leading game studio.”

The post Adam Pentecost Joins Gaming Corps as Director of Customer Success appeared first on European Gaming Industry News.

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