SOFTSWISS Shares iGaming Crypto Report Showing Total 14.6% Decline; Ethereum is growing share
iGaming software provider SOFT SWISS released Wednesday a new report shows how last year’s turbulence affected online crypto games.
According to the company, future predictions related to crypto first require addressing 2022 outcomes. The company provided the period’s data on the subject, and shed light on industry insights. In its latest report, the technical developer presented a comparison between 2022 and 2021 based on input from 700 clients of Game Aggregator and Casino Platform by SOFTSWISS.
Despite last year’s crypto swings, the total stakes, both in fiat and digital coins, through the provider’s platform increased by 31% compared to 2021. GGR also grew by 36% year-on-year.
In Q2 2022 was total effort exceeded 20 billion euros ($21 billion). The indicator had grown steadily until the end of 2022. The average total effort increased by 35% quarter over quarter. Compared to 2021, the quarterly average GGR increased 2.7 times, showing 38% of growth.
Vitali Matsukevich, Chief Operating Officer at SOFTSWISS, commented: “The growing number of new fiat projects does not diminish the power of the already established worldwide crypto community.”
“There remains a strong drive for iGaming operators to implement and expand crypto payments and develop new crypto-centric tools,” he added. “For example, we have launched the in-game currency conversion feature to enable automatic conversion of digital coin stakes to fiat stakes.”
On the other hand, compared to 2021, the total amount of crypto games fell by 14.6% to 20.2 billion euros. The fall of 3.5 billion euros ($3.7 billion) on the crypto side affected the growth of the fiat share. By the end of 2022, total fiat games accounted for 76% of total player stakes.
Despite a drop of over 60% in price by 2022, Bitcoin is still in the lead, accounting for 72.7% of the total crypto games. At the same time, this digital coin has lost 7.4 pp since 2021. Ethereum has improved its popularity among players, gaining 3.7 pp
Review of 2022, the 3 most used cryptocurrencies are Bitcoin, with 72.7%; Ethereum with 13.6%; and Litecoin by 5.5%.
“2022 was not as bright for digital currencies and NFTs as 2021. We are optimistic about 2023 and confident that players will not stop choosing crypto because of the transaction speed, anonymity and decentralized nature,” Matsukevich said.
“Despite the fluctuations, crypto has already gained a strong foothold and has become an integral part of the market,” he concluded. “For this reason, SOFTSWISS continues to strengthen its partners’ projects, whether fiat or crypto, with new innovative tools and solutionsand provides operators with top-level security, reliability and service.”
