In the dynamic realm of iGaming, SOFTSWISS, a prominent crypto iGaming software provider, sheds light on the crypto sector’s steady expansion during the third quarter of 2023. While the growth is gradual compared to the surge in fiat currencies, the insights gleaned from 530+ brands underscore intriguing developments in crypto gaming.
- Market Dynamics: The iGaming market sustained growth, witnessing a robust 36.6% increase in the total wagered amount and a nearly 50% surge in the number of bets throughout the first three quarters of 2023.
- Crypto Landscape: A comparative study spanning nine months reveals an 18.7% uptick in crypto bet sums, accompanied by a substantial 66.4% surge in the number of crypto bets. However, crypto’s share in the Total Bets Sum experienced a marginal dip to 28.5%.
- Fluctuating Crypto Bets: The average crypto bet exhibited a notable quarter-to-quarter decrease of nearly 30 percentage points, a fluctuation attributed to the inherent volatility in cryptocurrency rates.
- Dominant Cryptocurrencies: The top 5 digital coins maintained their positions since 2022. Bitcoin led with a 74.9% share, experiencing a 3.9 percentage point increase, while Ethereum saw a decline, losing 6.3% market share.
- The 18% increase in crypto bet sums, though modest, stands in contrast to a substantial 45% expansion in fiat bets.
- Cryptocurrencies showcase stability in iGaming amid challenges faced in other crypto spheres.
The final quarter of 2023 holds increased fascination, with SOFTSWISS anticipating continued moderate popularity of cryptocurrencies amidst a growing fiat segment. As the ‘number one’ crypto solutions provider, SOFTSWISS remains dedicated to sharing expertise on evolving iGaming trends.