SOFTSWISS has released its latest cryptocurrency report, which reveals total bets on the supplier’s platform have increased across 2022.
Wagers using cryptocurrency via the software company’s platform rose by 33.1 per cent during the first three quarters of this year.
SOFTSWISS’ GGR was also up across Q1, Q2 and Q3 compared to the same period in 2021, with the company detailing a 36.6 per cent increase in such revenue.
SOFTSWISS said interest in its Casino Platform and Game Aggregator fuelled the rise in the figures.
But while the value of all bets in fiat currency increased by 8.4 per cent on a quarter-on-quarter level and by 24.2 per cent on a year-to-date level, there was an overall decline in the number of individual crypto bets placed.
The value fell by 5.9 per cent and in comparison with the first three quarters of 2021, there was a 23.5 per cent drop-off.
Vitali Matsukevich, COO at SOFTSWISS, said: “Despite the numbers, interest in cryptocurrency among players and operators is only increasing.
“As a comparatively new phenomenon in the igaming industry, cryptocurrency faces a volatile environment, depending on different economic and social factors.
“However, we expect crypto rates to increase in the fourth quarter of this year, which will be driven by current gaming activity.”
SOFTSWISS said it expects cryptocurrency to enjoy a rise during the holiday season in Q4, which sees “an uptick in bets.”
Matsukevich added: “Even though world events and crises of 2022 have quarterly impact indicators, prevailing market dynamics continue to favour cryptocurrencies and their use in online gambling.
“The crypto-friendly igaming market remains relatively stable and is adapting in line with the global financial markets. We have a positive outlook on the future of crypto.”