The deadly Covid-19 pandemic and last year’s turbulence across the globe have hit the Crypto sector quite badly. I-gaming too has taken a massive hit and SOFTSWISS, which is one of the leading crypto-gambling platforms, has witnessed a dip of 14.6% in the year 2022.
If we take a look at the total bets (comprising of digital coins and fiat), then it increased by a huge margin. The gain was around 31% if we take 2021 in comparison. The gross gaming revenue will also increase because of this and the growth percentage has been logged at 36%.
Fiat players increased massively and the number of crypto players decreased to some extent. But the Chief Operating Officer at SOFTSWISS Vitali Matsukevich, remained optimistic.
“The fact that we see an increasing number of new fiat projects does not diminish the power of the already established worldwide community of crypto players. There is still a strong drive for iGaming operators to implement and expand payment methods supporting digital coins,” said Vitali Matsukevich.
Comparison between Fiat and Crypto
According to SOFTSWISS Crypto Gambling report the number of crypto bets decreased in 2022 by 14.6 % and the loss was logged at 3.5 billion euros. Fiat bets in total represented around 76% of the total handle.
Which were the most used and popular Digital coins?
Bitcoin accounted for 72.7% of the total coins and Ethereum logged 13.6 % of the total coins. On the other hand, Litecoin accounted for 5.5% of the total coins.
Even though Bitcoin’s share price fell down by 60%, it is still regarded as one of the most popular digital coins in the world of cryptocurrency.
“I-gaming 2022 was not as bright for digital currencies and NFTs as 2021. We are optimistic about 2023 and confident that players won’t stop choosing crypto because of its transaction speed, anonymity, and decentralized nature. Despite the fluctuations, crypto has already gained a strong foothold and has become an integral part of the market,” added Vitali Matsukevich.
It remains to be seen as to how some of the digital coins perform in 2023 and whether crypto bets will surpass Fiat bets in this new year. With increasing government regulations for Cryptocurrency across the globe, it’s the stakeholders in the crypto world who need to act swiftly and rapidly.
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