Softswiss: Does Crypto Betting Represent the Future of Gaming?
## Softswiss: Does Crypto Betting Represent the Future of Gaming?
The worldwide digital currency market is valued at a staggering £954 billion, presenting a substantial opportunity for the gaming sector to participate.
Softswiss’s co-chief executive, Andrei Staravoitau, engaged in a conversation with us to explore why Softswiss has been a pioneer in the field for the past ten years, providing top-tier cryptocurrency casino software solutions.
**Softswiss: Does crypto betting represent the future of gaming?**
**iGB:** There is a significant amount of excitement surrounding the potential of digital currency in gambling, and Softswiss has observed a substantial increase in transaction volume in its reports. Are you noticing any trends or connections among players? Based on this data, what kind of individual is the typical crypto gambler?
**AS:** If we compare the average digital currency user to someone who utilizes traditional currency, the digital currency user is generally younger and originates from Canada, Germany, or Asia. Depending on their location and age, we witness different types of crypto brands attracting distinct players. There are the early adopters, such as Bitstarz and MBit, and then there is the newer wave of brands like Stake, Roobet, Rollbit, Duelbits, and BC.Game. The newer brands are truly focused on establishing a robust community surrounding their brand, utilizing chat and forums. This assists them in attracting players and maintaining their engagement.
These are just a few significant factors, apart from transaction velocity, accessibility of demonstrably fair games, and other factors.
iGB: How do early digital currency adopters like Softswiss adapt in the increasingly competitive and demanding digital currency market?
AS: I wouldn’t say the digital currency gambling market is particularly competitive – competition is steadily increasing, but it hasn’t reached its peak yet. We observe the digital currency gambling market attracting industry giants, with many companies considering integrating payment methods like Coinspaid to enable digital currency deposits. Some companies opt to launch separate digital currency brands, similar to the design and features of Stake.com, Bitstarz, MBit, Rollbit, Duelbits, Roobet, and BC.Game, to enhance their portfolio with new digital currency-focused offerings.
Many market participants are hesitant about entering this specialized market, rather than actively participating. We can understand the reasons behind them, such as a lack of digital currency expertise or a strong team of specialists, difficulty attracting digital currency audiences, digital currency gambling regulations, and the attitude of regulators towards digital currencies, believing that digital currencies don’t exist. However, this specialized market is actively evolving, and the market leaders I mentioned above are now being followed by new high-potential entrants who are able to make significant progress, such as Stake.com in 2021.
The Softswiss platform distinguishes itself in the crowded crypto gaming marketplace through its deep knowledge and extensive experience in integrating cryptocurrencies for gambling. As a leader in the field and the first to bring cryptocurrencies to the B2B sector, Softswiss has made crypto gambling development a central part of its approach. This includes cultivating expertise within the team, developing products that support cryptocurrencies, and staying ahead of the product trends observed in all crypto brands.
All products within the Softswiss ecosystem (casino platform, game aggregator, sportsbook, jackpot aggregator, and Affilka) are compatible with cryptocurrencies, and their partner product – the crypto payment gateway Coinspaid – is the perfect choice for launching a cryptocurrency business. For instance, the Softswiss game aggregator currently supports around 50 game providers using over 20 different cryptocurrencies, and is capable of integrating new cryptocurrencies based on the needs of its clients and partners.
The in-game currency conversion feature integrated into their flagship casino platform is a unique solution that enables crypto balance holders to access and enjoy non-crypto games. Softswiss sportsbook and jackpot aggregator are also fully equipped to operate with cryptocurrencies.
The utilization of digital currencies in gaming is a rapidly expanding field. There’s a need for increased education for all parties involved, from operators and providers to oversight bodies.
Oversight bodies should collaborate more closely with enterprises to comprehend how digital currencies can be used securely and efficiently in gaming. This will contribute to the creation of a transparent regulatory structure and guarantee that the industry develops in a responsible manner.
Regrettably, many oversight bodies are still lagging behind in this matter. They need to catch up and establish guidelines that address the use of digital currencies in gaming.
Our organization is dedicated to assisting in bridging the gap between businesses and oversight bodies. We provide support and direction to help operators and game studios incorporate digital currencies into their operations. We can assist them in accepting all digital currencies and navigating the intricacies of this emerging technology.
We consider the education and direction of our operational crew in the realm of digital currencies to be a significant area for expansion, enabling us to enhance our offerings.
iGB: Softswiss was recently recognized as the Crypto Company of the Year at the 2023 International Gaming Awards. What distinguishes you from your rivals in the field of digital currency operations? What novelties have you introduced to the marketplace in this domain?
AS: We are thrilled to receive this accolade, and more importantly, to be acknowledged by the industry as a frontrunner in crypto gambling. This award genuinely reflects our strategy and enthusiasm – to make digital currencies user-friendly and accessible. In the past, Softswiss bravely experimented with cutting-edge advancements and incorporated digital currencies into gambling, propelling the industry to new heights.
I would venture to say that the nomination and award were not a surprise for us, as the company has made significant progress, refining its expertise, developing various features, and adapting standard operations for a digital currency audience. Nine out of ten leading crypto gambling entities utilize our products. All of this demonstrates that Softswiss is the undisputed leader in the crypto gambling landscape.
iGB: What are your forecasts for digital currencies in 2023? What factors could impede their widespread acceptance?
While the cryptocurrency market has experienced fluctuations, the crypto gambling sector and its user base are predicted to expand. Players appreciate the swiftness, ease of use, and a level of privacy that cryptocurrencies provide. An increasing number of operators, including those at the top of the industry, are incorporating cryptocurrencies into their payment options, indicating a clear rise in interest in this area.
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