Softswiss: Crypto gambling is growing

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Peter Brandt 14. May 2021

The proportion of cryptocurrencies has increased enormously with the casino software provider Softswiss. The company report for the first quarter of 2021 shows that around 26 percent of sales are due to transactions with digital currencies.

Softswiss on the Japanese gaming market was able to record the greatest cryptocurrency growth. ((©ANTHR_Photoblog/Pixabay)

Enormous growth in one year

The recent Softswiss sales figures show a development in the gambling industry, which has been emerging for some time. Cryptocurrencies are becoming increasingly important within industry. According to the management report of the software provider, the share of sales of digital currencies within one year is grown from six to 26 percent. The crypto gambling now accounts for around a quarter of total sales. If the trend continues, it can be assumed that cryptics will gain even more meanings in the industry in the next few years. As a top dog in the software area, softswiss should also be affected by this development.

Softswiss. The company based in Curaçao is a recognized industry leader in the development of Igaming software solutions and is the first group in the gambling industry that has worked with cryptocurrencies. Today Softswiss has an international team with more than 600 employees and has more than 300 Igaming brands in the in-house client network.

Asia: crypto gambling on the advance

According to COO Andrey Starovoitov, Softswiss was able to achieve a large part of the crypto sales in the past quarter on the Asian market. The gaming market in the Far East is in terms of cryptocurrencies significantly further developed than in Europe. The industry on the local continent was still in a kind of construction phase, since the digital currencies in the European branches of the numerous online casinos are only gradually recognized.

In Asia, the status quo is a completely different one. After Starovoitov, above all, The growth in Japan is largely responsible for thisthat Softswiss was able to achieve around 26 percent of his sales over cryptocurrencies. But the positive developments in countries such as India and Indonesia are also an important indicator of the growth of the crypto gambling.

Expansion to Latin America. In addition to the large markets in the eastern hemisphere of the world, many customers of softswiss have recently stretched out their feelers to Latin America. Starovoitov estimates the potential of the markets there. Even if at the moment it cannot be said with absolute certainty whether the crypto gambling on the South American continent takes the desired development, the softswiss-cooo expects Brazil to be among the leading nations in this area in the near future.

The company report of the casino software provider shows that the most sales of cryptocurrencies with the Bitcoin became. According to the official figures, the proportion of value -strongest and best known digital currency is 83 percent. Ethereum took second place, but was only able to cost ten percent.

Meaning of cryptocurrencies

Cryptocurrencies have long outgrown their niche existence and become more socially and economically relevant. Especially in the gambling sector, the digital currencies are an ideal possibility to Carry out transactions in the various online casinos quickly and anonymously to be able to. Especially in Asian countries like China Or Japan have long been established. However, the European sales markets are gradually recognizing the increasing importance of digital currencies.

The draft horse the continued trend Is the Bitcoin. At the latest since the all -time high in April 2021 – the value of a Bitcoin was around 54,000 $ – the trade in cryptocurrency has experienced a boom phase. This is mainly due to the fact that not only major investors and professional traders, but also In the meantime, private investors are also frolic in this business area. For the gambling industry, which is increasingly identified by its online presence and is therefore dependent on digital transaction routes, an extremely profitable development.

Nevertheless, Bitcoin and other cryptocurrencies differ from the traditional fiat currencies. Because at the end of the day Is the Bitcoin acquisition pure speculation. Accordingly, this is not suitable for long -term retirement provision and aims to generate a lot of capital in a short period of time.

Fiat currencies. Payment means that are officially determined and recognized by governments are referred to as fiat currencies or fiat money. These are not bound to the price development of certain raw materials such as gold or silver. The value of the fiat currencies is much more responsible for trusting a government or central bank. Conversely, this means that the citizens of a nation of their government must be benevolent so that the concept of fiät currencies works. Digital money such as Bitcoin or Ethereum, on the other hand, are detached from trust and are responsible for the rules of the market. Investors of all kinds in the collective decide on supply and demand, so that the performance regulates itself.