Casinoplusbonus studies the rise of USDT, LTC, ETH, and DOGE in crypto casino gaming courtesy of the latest SOFTSWISS State of Crypto report. (Image courtesy of SOFTSWISS)
After studying a sample of 500 online gambling brands, SOFTSWISS has found that ALT coin casino bets are catching up with the king of crypto – Bitcoin.
In its 2023 yearly report, the aggregator reported that Bitcoin made up for 71.1% of all bets.
However, in 2024, there has been a major shift towards Alt coins, which made up for 46.4% pushing Bitcoin’s overall influence down to 53.6% with the growth in stablecoin used for crypto iGaming being the top performer.
Bitcoin is still the leading cryptocurrency by far as it alone still makes up for the majority of bets at crypto casinos versus many alternatives, such as ETH, LTC, USDT, DOGE and other cryptos.
The SOFTSWISS report has also pointed out that the rise in Bitcoin has influenced a rise in the average crypto bet by 1.4 times.
To ascertain the correlation between the rise in Bitcoin price and the increase in average bets, SOFTSWISS compares the average fiat currency bet, which has remained the same.
It seems that the volatility of cryptocurrencies doesn’t only apply to their ever-shifting market values but also affects how people bet at crypto casinos.
On the cryptocurrency casino scene, we are seeing major trend shifts on SOFTSWISS iGaming and online sports betting platforms.
Who is SOFTSWISS? The company is one of the leading aggregator online casino platform providers. You can find online casinos using its out of the box solutions via our SOFTSWISS casinos review.
Which ALT Coins Are Catching Crypto?
According to the SOFTSWISS report, the use of USDT and LTC has increased the most in 2024 compared to its 2023 report. Smaller gains have been made by other popular cryptos such as DOGE and ETH. As for Bitcoin, it has lost 24.61% in market share from its 71.1% dominance down to 53.6% in 2024.
- USDT (Tether): There are both TRC-20 and ERC-20 to consider if we break down the overall USDT stablecoin market. In 2023, SOFTSWISS stats showed a 4.5% market share for USDT. Amazingly, 2024 shows a rise to an 11.9% market share. In terms of USDTs individual performance, that is a 164.44% rise in popularity.
- Litecoin: In 2023, the report showed LTC had a 6.5% share of the crypto iGaming market. In 2024, that number doubled to 13% marking a 100% rise in popularity since 2023.
- Ethereum: The 2023 crypto market share for ETH was 9.8% and rose to 13.2% for 2024. The increase represents a smaller increase of 34.69% compared to LTC and USDT’s much larger rises in popularity amongst crypto casino players.
- DOGE: Despite DOGE being one of the more volatile cryptos available as a cryptocurrency casino deposit and withdrawal method, the Meme Coin has still gained an increased market share of 41.94%. In 2023 it made up for 3.1% of the crypto space’s market share, while in 2024 it rose to 4.4%.
- Others: The SOFTSWISS report refers to other, which would mean XRP, BCH, TRX, DAO, BNB, and other crypto available via the aggregator’s crypto payment solution built into its casino site solution. Usage of other cryptos actually dropped from 5% in 2023 to 3.9% marking a 22% decline.
| Cryptocurrency | 2023/2024 Market Share Change |
|---|---|
| USDT (Tether) | 164.44% increase |
| Litecoin (LTC) | 100% increase |
| Ethereum (ETH) | 34.69% increase |
| Dogecoin (DOGE) | 41.94% increase |
| Others (XRP, BCH, TRX, DAO, BNB) | 22% decrease |
All stats used above are courtesy of the SOFTSWISS annual ‘State of Crypto’ overview.
Bitcoin is Still the King of Crypto Gambling
Despite a drop from 71.1% market share in 2023 to 53.6% in 2024, Bitcoin is still the undisputed king of cryptocurrencies in casino gaming. Standing alone, BTC is still more popular than ETH, LTC, USDT, DOGE, XRP, BCH, TRON, DAO, and a wide range of other cryptos available on the iGaming scene.
In the overall crypto market, Bitcoin also has the overwhelmingly largest market cap. As of today, it stands at 1.77 trillion USD. As of the date in 2024, Bitcoin’s market cap was approximately $1.31 trillion. In the past 12 months, that is a 35.11% rise. Not to mention, we could see Bitcoin increase to $200k by the end of 2025 if expert analysts’ predictions are correct.
We always enjoy looking at the stats from SOFTSWISS market data reports, especially when it comes to the company’s research on cryptocurrency. These studies give us great insights into how the crypto market is shaping up.
Let us know your comments: Which crypto or cryptos do you use the most when gambling? Do you prefer to hold in Bitcoin or another crypto and why?
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