A Q1 to Q3 2024 SOFTSWISS report shows players are increasingly choosing to bet using cryptos instead of BTC, while overall bets on SOFTSWISS platforms have increased. (Image Courtesy of SOFTSWISS)
In the latest SOFTSWISS report, the company states that cryptocurrency is one of the major online gambling drivers.
The report itself covers the first 9 months of 2024. In other words, Q1 to Q3, January to September.
As for metrics compared, these are:
1. Total Number of Bets on casino games and sports across all SOFTSWISS casinos.
2. The percentage share of which types of cryptos are being used the most to place bets on casino games and sports.
The Total Number of Bets & Growth
Although comparing 2023 to 2024, it seems there has been a drop in the percentage use of crypto versus fiat, the overall market number of bets on SOFTSWISS platforms has increased.
Bitcoin Losing its Dominance
Another interesting point is that Bitcoin is losing traction as the most popular crypto to gamble with. The use of Ethereum, Litecoin, USDT, DOGE and ALT has increased. In 2023, 74.9% of all crypto bets were made using Bitcoin. In comparison, Bitcoin only makes up for 52.18% of overall bets made using crypto, showing a shift in the use of cryptocurrencies.
The shift isn’t simply because more players are investing in a more diverse crypto portfolio. Nor the fact that SOFTSWISS is adding more ALT coins to its platform. In the images below, the shift clearly shows that DOGE, USDT, LTC, and ETH usage has increased. In the meantime, the use of other cryptos between 2023 and 2024 remains the dame at 2.6%.
Official SOFTSWISS Report: For the full SOFTSWISS report you can visit the aggregator platform provider’s SOFTSWISS Survey Q3’24.
Image Source: SOFTSWISS Survey Q3’24
| Period | Fiat | Crypto |
|---|---|---|
| 9M 2023 | 79.01% | 20.9% |
| 9M 2024 | 83.1% | 16.9% |
Image Source: SOFTSWISS Survey Q3’24
| Crypto | 9M 2023 Share | 9M 2024 Share |
|---|---|---|
| BTC | 74.9% | 52.81% |
| ETH | 8.9% | 13.77% |
| LTC | 6.0% | 13.76% |
| USDT | 4.6% | 12.72% |
| DOGE | 3.0% | 4.35% |
| Other | 2.6% | 2.6% |
Key Data From the SOFTSWISS Report
As the date of writing this news report, Bitcoin has surged to new heights of $98,000, although it has dropped off slightly since it hit that milestone. With increased trust in Bitcoin, more people have adopted crypto since the previous bull run.
This has led to crypto investors to diversify their portfolios. Whereas in the past most people stuck to Bitcoin, today the more tech and crypto savvy word population is diversifying. Bitcoin may lead the way in market cap, but the smaller coins are the ones more likely to make higher percentage gains in the future of crypto.
In the table below, I’ve left some more key talking points taken from the latest SOFTSWISS report:
| Key Talking Points | Insights |
|---|---|
| Forecasting the Growth of iGaming | SOFTSWISS’s report states that by 2028, there will be 243.2 million people gambling online. |
| Forecasting the Growth of iGaming Revenue | Bu 2028, the overall iGaming market predictions are that revenues will be as high as €130 billion. |
| Total Bet Sum Growth (2024 vs. 2023) | Total Bet Sum increased by 43.1%. |
| Total Bet Count Growth (2024 vs. 2023) | Total Bet Count rose by 44.5%. |
| Fiat Currency Betting Growth Ahead of Crypto Growth |
|
| Cost Benefits of Crypto in iGaming | Crypto transaction fees are up to three times lower than fiat. |
| Altcoin Shift in Market Share | Altcoins grew from 25.1% to over 47% of total bets (2023 vs. 2024), |
| Bitcoin Shift in Market Share | while Bitcoin’s share dropped by 22%, highlighting the growing diversity of crypto bets. |
| Blockchain Advantages | Blockchain enhances safety and fairness through transparency and traceability, positioning operators for sustainable growth. |
“The new SOFTSWISS iGaming Trends 2025 Report offers more insights about crypto in the ever-evolving iGaming sector. The visionary report is free to download via the link“.
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