Cryptocurrency Growth in Online Casino Games
The new report from the developer Softwiss shows the growth of cryptocurrencies in the world of gambling, both online and in land-based casinos. Only in the first quarter of 2021, the volume of payments in cryptocurrencies has increased more than 26%, so there is no doubt that the cryptocurrencies will continue the growth every day.
Andrey Starovoitov, COO of SoftSwiss, highlighted in the corporate report the growth in the share of cryptocurrencies for the first quarter of 2021 compared to the last year. "The turnover of cryptocurrencies increased its share from 6% at the end of the first quarter of 2020 to more than 26% in the first quarter of 2021," he stated.
SoftSwiss Game Aggregator in a previous statement had already indicated that in 2020 a trend was being observed, since the number of online gambling deposits with cryptocurrencies had tripled. These figures show the interest that users have in using cryptocurrencies in online casino games, besides, more and more people discover and buy cryptocurrencies every day.
These numbers show how cryptocurrencies continue to gain a space within the gaming industry substituting the traditional payment methods.
Increase in crypto gambling in Asia
In the report Starovoitov noted that cryptocurrency turnover has increased in several countries in Asia. “… Turnover in Asia is growing, all this largely due to the entry of cryptocurrency casinos in this region. These good numbers are mainly due to traffic growth in Japan, as well as good trends in India and Indonesia, ”he said.
He also made it clear that they expect an important advance in online gambling with cryptocurrencies in Latin America. "Our clients continue to expand to the Latin American region, and although it is too early to speak about significant volumes, we hope to see Brazil among the leaders in the nearest future," he said.
In several Latin American countries such as Brazil or Argentina, players are becoming more and more familiar with cryptocurrencies, so these countries will become the most popular crypto gambling markets in the near future.
Greater use of Ethereum
As to the most popular cryptocurrencies in online gambling, in the SoftSwiss Game Aggregator report they highlight that Ethereum has doubled its volume, reaching a record 10%, while Bitcoin continues to be the most popular, with more than 83% .
It should be mentioned that Ethereum is already the most used cryptocurrency in India, at the end of this first quarter of 2021, while in other regions Bitcoin keeps staying the favorite currency for online betting and gaming.
Ethereum is one of the most popular cryptocurrencies and its value has risen more than 350% in 2021, as well as its availability in online gambling.
The best online casino games with cryptocurrencies
This report also talks about a fundamental aspect: The best cryptocurrency games. As indicated in the study, the majority are leaning towards live games with Evolution leading, which outperforms other studios in most markets, having Japan as a leading player in relation to the big stakes.
While in Europe or Canada, they lean towards table games, both RNG and live. Games such as Elvis Frog in Vegas from BGaming, Aztec Magic Deluxe and Wild Spin Blackjack VIP from Platipus stand out, which have been among the most sought after.
In short, it is a report that shows the progress of cryptocurrencies in the industry, especially at this time when there is a boom in these means of payment, with several currencies reaching historical maximum values.
A highlight is that SoftSwiss is an expert company in the use of cryptocurrencies in gambling, because they were the pioneers in offering Bitcoin casinos in 2013.
New casinos with cryptocurrencies
Due to these trends in growth of gambling with cryptocurrencies, Resort World Las Vegas casino made an announcement that they will accept payments in cryptocurrencies by means of Gemini digital wallet in order to improve the experience of resort visitors and to offer new technological facilities.
In a statement, Tyler Winklevoss, CEO of Gemini, highlighted that the players will be able to convert fiat-type money, i.e. traditional currency, into cryptocurrencies inside the establishment.
"We are incredibly excited to be working with Resorts World Las Vegas, the first land-based casino to partner with a cryptocurrency platform, and exploring integration into their guest experience. Whether it's the decision for their customers whether to use crypto at Resorts World Las Vegas or converting dollars to cryptocurrency, being one of the first to accept 'crypto' is a great way to meet the needs of the next generation of customers and provide the 21st century experience", said Winklevoss.
The growth of cryptocurrencies in the gambling market is also demonstrated by opening the new cryptocurrency casino by Atari, as well as by the new project of Game Technology that is already developing a system allowing to the players to transfer their cryptocurrencies directly to land-based casinos.
The boom in cryptocurrencies all over the world makes them be more and more popular in the gambling industry as well.