Cryptocurrencies are reshaping the financial world and influencing various industries. A significant transformation is noticeable in the iGaming sector, profoundly altering how online gaming platforms engage with players.
SOFTSWISS, a leading software developer in the iGaming industry, has been at the forefront of this change. Launching its Crypto Solution in 2013, SOFTSWISS became the first company to introduce digital currencies to online gaming. This innovation propelled the company from a startup to a global leader, now employing over 2,000 professionals in multiple offices worldwide.
Ivan Montik, founder of SOFTSWISS, reflects on early interest in Bitcoin: ‘In 2010 and 2011, Bitcoin cost nothing. My interest wasn’t financial but driven by its captivating mathematical algorithm. We saw immense potential in its technology even if we didn’t foresee its future value.’ Montik and his team identified a unique opportunity to distinguish themselves in the competitive market through cryptocurrency integration.
After launching a landing page for the Crypto Solution, it quickly gained attention, climbing Google’s rankings. This interest indicated a demand that SOFTSWISS was ready to meet, transforming it into a comprehensive software ecosystem provider. Operators can now find all necessary products and tools within this ecosystem to launch and grow their businesses.
The iGaming industry itself is rapidly growing, with revenues projected to reach $110.66 billion by 2025. This growth attracts new technologies and top talent, making technological expertise a key success factor. Montik explains, ‘Our strength lies in our technological expertise and high motivation to deliver exceptional products. We developed our ecosystem to provide licensing, payment system integration, game content integration, technical support, and more.’
In 2020, SOFTSWISS expanded its cryptocurrency strategy to focus on the emerging crypto casino segment. Initially offering only basic crypto games, the landscape changed with the introduction of the Game Aggregator. This flagship product added thousands of high-quality games, allowing platforms like Stake, Roobet, and BC.Game to enhance their offerings significantly.
Montik mentions, ’85 per cent of all bets in crypto casinos powered by the SOFTSWISS Casino Platform are facilitated through in-game currency conversion.’ This feature allows players to convert their crypto balances into fiat currencies, enabling broader participation in various games.
Looking ahead, Montik sees significant benefits from cryptocurrency in gaming: ‘Cryptocurrency enriches user experiences with its user-friendly features. Despite varying regulations, the trend towards integrating digital currencies with fiat money is clear. Blockchain technology ensures security and transparency, reducing fraud and fostering trust.’
Statista.com reports that the global cryptocurrency user base almost doubled from 2021 to 2023, reaching 575 million users. This growth, driven by tech-savvy users seeking convenience, suggests that cryptocurrency will continue to expand across sectors, including iGaming.
The integration of cryptocurrencies into iGaming represents a significant shift in the online gaming landscape. With companies like SOFTSWISS leading the way, the future of gaming looks increasingly digital, secure, and innovative.