TechFlow news, according to the latest analysis from SOFTSWISS, a gambling software development company, growth in the cryptocurrency sector has been slower compared to the iGaming industry. The analysis is based on data collected from over 530 brands supported by the company, covering in-game currency exchange functionality.
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In the first three quarters of 2023, the iGaming market maintained steady growth, with total betting volume increasing by 36.6% and the number of bets rising nearly 50%.
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However, cryptocurrency betting volume grew only by 18.7%, despite a 66.4% increase in the number of cryptocurrency bets.
Bitcoin remains the most widely used cryptocurrency, gaining a 3.9% share, while Ethereum's share declined by 6.3%. Despite significant volatility in cryptocurrencies, their usage in iGaming has remained relatively stable.
Andrey Starovoitov, CEO of SOFTSWISS, noted that cryptocurrencies are seeing moderate adoption within the growing fiat-based gaming market.
