SoftSwiss has released its Q1 cryptocurrency report of 2021 and it came with some interesting details via both its sports betting and iGaming platforms revealing Evolution leads the way in crypto bets!
The chief operations officer, Andrey Starovoitov, revealed that Cryptocurrency turnover increased from a 6% share (end of Q1 2020) to over a 26% share by the end of Q1 2021.
The SoftSwiss Game Aggregator report essentially reveals that the share of bets that were placed using crypto has increased by over 20% this past year. This now means that regular currency (aka Fiat currency) has dipped from a 94% share to less than three quarters at 74% – a decrease of 20%.
Focusing on particular regions, the report identifies that the crypto Asian market is growing and is likely moving on the up and up because of the strict laws in these countries against online gambling using domestic currencies while many countries are seeing a rise in cryptocurrency investments, wallets, and exchanges with crypto pairs pinned to their domestic currency.
There could be a number of other reasons, and the most probable being because of the number of crypto casinos that have opened up within the region, which are a kind of grey area when it comes to gambling laws. However, also in countries where online gambling is legal with or without a framework in place, there is crypto growth for online casinos and sportsbooks. In particular “the traffic growth in Japan, as well as good trends in India and Indonesia”, stated Starovoitov. He continued to mention that their clients keep expanding into the Latin America region, as well. Meanwhile, there is a strong possibility that Brazil will become a crypto gambling market leader in the future, however, it would be too premature to confirm this prediction right now.
Adding to this, the recent rise in cryptocurrency market prices has meant that more people globally are investing, and a large percentage of these late adopters are discovering just how easy and fast it is to make crypto deposits and withdrawals. Cryptos used on the Softswiss platform’s casinos and sports book include BTC, BCH, LTC, DOGE, ETH, and USDT!
Bitcoin Makes Up For 83% Of All Transactions!
There are a variety of Cryptocurrencies in circulation. We know of the big coins like Bitcoin and Ethereum, but there are other smaller coins that are being used too. SoftSwiss recognizes that Ethereum usage has grown its share from 5% to 10%, while Bitcoin remains the popular coin with 83% of transactions. The emerging coin is DOGE which has tripled since Q1 2020 and is now represented in 1.5% of transactions, up from 0.5% last year. ETH is most popular in India when looking at individual countries and Bitcoin has shown a dip in usage down 7% occupying 83% of crypto transactions.
Q1 2021 shows that BTC bets have an 83% share of the marker, followed by 10% ETH, 1.5% LTC, 1,5% BCH, and 1.5% DOGE Vs Q1 2020 which was 90% BTC, 4.5% ETH, 4.% ETH, 1% BCH, and 0.5% DOGE!
Evolution Shows The Most Played Games Using Cryptocurrency Bets!
The most played games that allow for crypto on the SoftSwiss Game Aggregator seem to be the live games. When matched up against other live casino software developer studios, it appears that Evolution leads the way in crypto betting in most of the regions. It is mostly the Canadian and European markets show a preference for table games, while in Japan you can see a significant number of high rollers. Other popular casino games that are worth a mention are BGaming’s Aztec Magic Deluxe and Elvis Frog in Vegas and Platipus’s Wild Spin Blackjack VIP.
Evolution is one of the main live dealer studios available at SoftSwiss online casinos, and its games have long accepted cryptocurrency bets while a competitor on the same platform is also accepting crypto bets which is the fast-growing Pragmatics Play live casino software manufacturer!