Crypto bets drop 16.4% while ether grows according to SOFTSWISS

22 February 2023

(PRESS RELEASE) -- The last year's global turbulence has affected various crypto-related business sectors, with iGaming being no exception. SOFTSWISS, a leading tech provider for iGaming, analyzed the past year's global data to share an expert crypto report. Crypto future predictions require first addressing the 2022 outcomes.

A pioneer in crypto gambling with its Crypto Casino Solution and 10 years of market expertise, SOFTSWISS quarterly analyzes the crypto market to share insights with the industry. The tech-savvy developer presents its newest crypto report 2022 vs 2021, based on the inputs from 700 clients of the Game Aggregator and the Casino Platform by SOFTSWISS.

2022 VS 2021
Despite the last year's crypto fluctuations, the total bets, both in fiat and digital coins, through the supplier's platform gained 31% compared to 2021. The GGR, the difference between the amount wagered and the amount won, also grew by 36% YoY.

In Q2 2022, the total bets passed the 20-billion-euro mark. The indicator had been growing steadily until the end of 2022. The average total bets increased by 35% QoQ. In comparison with 2021, the quarterly average GGR increased 2.7 times, showing 38% of growth.

"The increasing number of new fiat projects does not diminish the power of the already established worldwide crypto community," said Vitali Matsukevich, Chief Operating Officer at SOFTSWISS. "There is still a strong drive for iGaming operators to implement and expand crypto payments and develop new crypto-centric tools. For example, we've launched the In-Game Currency Conversion feature to enable automatic conversion of digital coin bets into fiat wagers."

FIAT VS CRYPTO
Compared to 2021, the overall amount of crypto bets decreased by 14.6% to 20.2 billion euro. The 3.5 billion euro drop on the crypto side influenced the fiat share growth. By the end of 2022, the total fiat bets accounted for 76% of the total player bets.

MOST USED DIGITAL COINS
Despite dropping over 60% in price in 2022, Bitcoin is still in the lead, accounting for 72.7% of the total crypto bets. At the same time, this digital coin has lost 7.4 p.p. since 2021. Ethereum has improved its popularity among players, gaining 3.7 p.p.

Reviewing 2022, the top 3 most used cryptocurrencies are:
  • Bitcoin – 72.7%
  • Ethereum – 13.6%
  • Litecoin – 5.5%

The detailed breakdown, including DOG, USDT, and BCH, is available in the report.

"2022 was not as bright for digital currencies and NFTs as 2021,” said Matsukevich. “We are optimistic about 2023 and confident that players won't stop choosing crypto because of its transaction speed, anonymity, and decentralized nature. Despite the fluctuations, crypto has already gained a strong foothold and has become an integral part of the market. For this reason, SOFTSWISS continues to strengthen its partners' projects, whether fiat or crypto, with new innovative tools and solutions, providing operators with security, reliability and top-level service."


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