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9M 2023 Crypto in iGaming Landscape: Moderate Growth Amidst Fiat Rise

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SOFTSWISS’ latest analysis indicates that the cryptocurrency segment is experiencing slower growth compared to the broader iGaming industry. The pioneer in offering cutting-edge crypto iGaming software presents insights into the latest crypto gaming trends.

The analysis is founded on the data collected across 530+ brands powered by the company. It takes into account the in-game currency conversion capabilities, enabling SOFTSWISS clients to seamlessly involve players with cryptocurrency holdings in games originally tailored for fiat only.

 

IGAMING MARKET GROWTH

During the first three quarters of 2023, the iGaming market consistently grew. In absolute terms, the total wagered amount showed a 36.6% increase compared to the same period of the previous year, while the number of bets saw an even more impressive growth of almost 50%.

 

STATE OF CRYPTO

In the comparative analysis of crypto bets spanning the first nine months of 2023 and the same period of the previous year, a noteworthy 18.7% monetary growth is observed. At the same time, the number of crypto bets has surged by 66.4% since 2022. Simultaneously, the share of crypto in the Total Bets Sum demonstrated a slight decrease by 4.3 p.p. to finally settle at 28.5%.

Diving deeper into the analysis, which has been ongoing since the beginning of 2022, it becomes evident that the sums of crypto bets experienced incremental growth from quarter to quarter during this period, but their share in the Total Bets Sum decreased slightly, primarily due to the more impressive quarter-to-quarter increase in the sums of fiat bets.

 

Andrey Starovoitov, Co-CEO at SOFTSWISS, comments: “An 18% increase in crypto bet sums may appear very modest when juxtaposed against a more substantial 45% expansion in fiat bets during the first three quarters of 2023. Taking into account the state of crypto in other spheres, such as fundraising, where the third quarter showed its worst results since the end of 2020, the position of cryptocurrencies in iGaming could be evaluated as comparatively stable at the moment.”

 

FLUCTUATING CRYPTO BET

The analysis of the average bet presents an engrossing picture. While the average fiat bet remains stable, hovering around 0.82 euro during the first three quarters of 2023 as well as in the same period of 2022, the average crypto bet lost almost 30 p.p. on average, displaying a quarter-to-quarter variability. It initially increased from 1.56 euro at the end of 2022 to 1.88 euro in Q2 2023 but subsequently declined to 1.59 euro in Q3 2023. Such fluctuations can be attributed to the inherent volatility in cryptocurrency rates and market expectations.

 

SOLID TOP OF CRYPTOCURRENCIES

The Top 5 most used digital coins in iGaming remained unchanged since the beginning of 2022.

During the first three quarters of 2023, the cryptocurrency distribution structure is as follows:

  • Bitcoin – 74.9%
  • Ethereum – 8.9%
  • Litecoin – 6.0%
  • Tether – 4.6%
  • Dogecoin – 3.0%

 

In the world of digital currencies, Bitcoin has witnessed the most substantial growth, marked by a 3.9 p.p. increase in its share compared to the first three quarters of the previous year. Conversely, Ethereum experienced a decline, losing 6.3 p.p. in its market share during the same period.

Andrey Starovoitov, Co-CEO at SOFTSWISS, summarises: “Due to their technological nature and relatively recent emergence, cryptocurrencies are developing within a rapidly changing landscape, pivoting on diverse economic and societal factors. At the moment, we are observing their moderate popularity among players in the growing fiat segment, and the results of the final quarter of 2023 hold increasing fascination. Being the ‘number one’ crypto solutions provider, SOFTSWISS remains committed to imparting its expertise on the relevant trends in iGaming.”

 

About SOFTSWISS

SOFTSWISS is an international iGaming company supplying ISO 27001-certified software solutions for managing gambling operations. The expert team, which counts 1,400 employees, is based in Malta, Poland, Georgia, and Belarus. SOFTSWISS holds a number of gaming licences and provides one-stop-shop iGaming software solutions. The company has a vast product portfolio, including the Online Casino Platform, the Game Aggregator with thousands of casino games, the Affilka affiliate platform, the Sportsbook Software and the Jackpot Aggregator. In 2013, SOFTSWISS was the first in the world to introduce a Bitcoin-optimised online casino solution.

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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GGBET UA is the official sponsor of FC Dynamo Kyiv’s winter training camp

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FC Dynamo Kyiv are continuing their winter training in Turkey, in preparation for the second half of the season in 2025. Their partner for the training period this year is GGBET UA.

The club’s CEO, Dmytro Brif, thanked GGBET UA for its support and underscored the importance of the training camp for the team’s future success:

“We are hugely grateful to GGBET UA for its partnership during this important period. Today, our efforts are focused on improving our game, working on our mistakes, and getting ready for upcoming matches. In the spring, we’re set on achieving the very best results we can in all tournaments.”

GGBET UA CEO Sergii Mishchenko stated that partnering up with Dynamo involves not just working together on the winter training camp, but also continuing with larger-scale joint projects geared towards the team’s fans:

“Within the partnership, we’re actively working with the club and are planning to create exciting content featuring the players and coaches. All of this helps to reduce the distance between the professional footballers and the regular fans, which is what we’re striving to do.”

Dynamo’s next winter training camp match will take place on 6 February at 17:00 in the Turkish city of Belek. The club will be facing off against KF Shkëndija, a team from North Macedonia. A live stream will be available on Dynamo’s YouTube channel.

The post GGBET UA is the official sponsor of FC Dynamo Kyiv’s winter training camp appeared first on European Gaming Industry News.

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Blask integrates comprehensive licensing data

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Blask, the AI-driven market analytics ecosystem, has added extensive regulated market data to its algorithm, which now analyses hundreds of reports from gambling commissions, tax authorities, industry experts and operators around the world.

The new input means Blask can deliver an accurate, multilingual, real-time picture of the regulatory situation in more than 40 iGaming markets, with many more to be added over the coming months.

By integrating verified data from regulatory bodies and gambling commissions, Blask can now provide:

  • A market-by-market breakdown of local and offshore licence holders

  • Tax rate insights to assess market profitability

  • Advanced dashboards for strategic decision making

Max Tesla, CEO of Blask, said: “Regulated markets are evolving rapidly these days, and staying ahead requires accurate, real-time data. By integrating verified regulatory data directly into the Blask platform, we’re giving operators and other stakeholders the ability to make smarter decisions with absolute confidence. This is a huge leap forward in strategic market analysis.”

The new data has been seamlessly integrated into the Blask dashboard. Users can view details of the regulatory authority governing a market. For brands operating under local licences, Blask now features comprehensive licence information, including type and dates of issuance and expiration.

The Blask team has worked tirelessly to automate the analysis of hundreds of reports in multiple languages and from numerous different trusted sources. This includes brands that offer open data.

The post Blask integrates comprehensive licensing data appeared first on European Gaming Industry News.

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EGT Digital partners with NOTO – 360 Fraud and Compliance to elevate fraud and compliance management

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EGT Digital is excited to announce its collaboration with NOTO – 360 Fraud and Compliance, a leading FRAML (Fraud and AML) solution provider. Thanks to the integration of the enterprise grade FRAML platform NOTO, now the iGaming company’s customers have access to powerful tools, allowing them to effectively manage financial crime risks while ensuring regulatory compliance.

Through this platform the gaming operators are able to combat fraud, prevent promotional abuse, and simplify compliance processes. Its intuitive interface and pre-integrated capabilities make it the ideal solution for reducing complexity in fraud risk management within the iGaming sector.

“We are very happy with our partnership with EGT Digital, a leader in the iGaming and entertainment space,” said Ivan Stefanov, CEO of NOTO360 Fraud and Compliance. “This collaboration underscores our shared commitment to providing unparalleled protection against fraud and ensuring seamless compliance with regulatory requirements. By combining EGT Digital’s innovative iGaming platform with our advanced fraud detection and AML solution—featuring real-time analytics, machine learning-driven insights, and multi-layered security—our customers can enjoy a secure, streamlined experience. Together, we’re empowering businesses to combat fraud, reduce costs, and deliver trust at scale.”

Rumen Apostolov, Fraud Manager at EGT Digital, also expressed his positive expectations regarding the cooperation: “I’m proud to have spearheaded this partnership with NOTO. In an industry where fraud prevention and compliance are critical, integrating their cutting-edge FRAML solution into our platform ensures that our clients can confidently navigate these challenges. Partnering with NOTO is a significant step forward in our mission to provide robust all-in-one solution for gaming operators.”

The post EGT Digital partners with NOTO – 360 Fraud and Compliance to elevate fraud and compliance management appeared first on European Gaming Industry News.

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