Betting on crypto: how one company pioneered a new era in online gaming

Softswiss is a Business Reporter client.

Cryptocurrencies are revolutionising the financial landscape and impacting every sphere of business. Their integration into the iGaming sector has sparked a transformative era, fundamentally changing how online gaming platforms interact with players. At the forefront of this revolution is SOFTSWISS, the expert in software development for the iGaming industry, which has pioneered the adoption of digital currencies in online gaming.

The significant role of crypto in iGaming owes much to a single technological innovation: SOFTSWISS’s pioneering launch of its Crypto Solution in 2013, making it the world’s first crypto iGaming provider.

This innovative development has propelled the company from startup status to a global industry leader over the past 15 years. Today, SOFTSWISS unites over 2,000 professionals from 30 countries across four offices worldwide.

“In 2010 and 2011, Bitcoin cost nothing,” says Ivan Montik, founder of SOFTSWISS. “My interest in Bitcoin wasn’t driven by its financial promise, but rather by the captivating mathematical algorithm it utilised. Back then, I couldn’t foresee its immense potential, but my team and I had faith in its technology. As SOFTSWISS transitioned from a small outsourcing startup to a product-oriented company in the competitive iGaming sector, we recognised the need for a distinctive feature to differentiate ourselves and meet customer demands. The Crypto Solution emerged as that defining feature.”

Once a landing page about this product was created on the company’s website, it leapt up Google’s page rankings. “We received many inquiries from around the world based on crypto-related keywords, giving the impression that people were waiting for this solution. And we were the company capable of meeting their needs,” recalls Montik.

Setting a new benchmark for the industry, SOFTSWISS evolved into a software ecosystem provider. Within this ecosystem, operators can find all the necessary products and tools to launch and grow their iGaming businesses.

The iGaming industry is experiencing rapid growth, with its revenue doubling since 2020 and projected to reach $110.66 billion by 2025. Consequently, this sector is attracting new technologies and the best tech talent. Technological superiority has become the key driver of success in this field.

“Our strength lies in our deep technological expertise and high motivation to deliver exceptional products. Guided by the principle of “if you want it done right, do it yourself,” we established the SOFTSWISS ecosystem. Whenever our clients encountered a lack of high-quality solutions in the market, we took the initiative to develop and implement them ourselves. Consequently, our clients now enjoy comprehensive support, covering licensing, payment system integration, game content integration, technical support and game support services,” says Montik.

In 2020, SOFTSWISS expanded its cryptocurrency strategy by focusing on the emerging crypto casino segment. Initially, these casinos offered only a few basic crypto games. The landscape changed dramatically with SOFTSWISS introducing its flagship product, the Game Aggregator. This solution provided thousands of high-quality games including those specifically tailored for crypto. Its integration allowed platforms such as Stake, Roobet and BC.Game to significantly expand their offerings and become top-tier crypto casinos.

“SOFTSWISS integrates crypto gambling seamlessly into its strategy, focusing on building expertise and developing crypto-friendly products,” says Montik. “One notable feature is in-game currency conversion, enabling players to convert their crypto balances into fiat currencies. This functionality enables them to participate in games that may not inherently support crypto. Impressively, 85 per cent of all bets in crypto casinos powered by the SOFTSWISS Casino Platform are facilitated through this tool.”

Montik shares his vision: “Cryptocurrency brings notable advantages to the gaming sector, enriching user experiences with its user-friendly features. Despite challenges posed by varying crypto regulations across jurisdictions, the trend towards integrating digital currencies alongside fiat money is evident. Blockchain technology ensures security and transparency, mitigating fraud and fostering trust between players and operators.”

According to Statista.com, the global cryptocurrency user base nearly doubled from 2021 to 2023, reaching 575 million by November 2023. This growth is driven by users’ tech-savviness and desire for convenience. As cryptocurrency adoption expands across different regions and age groups, its potential for growth extends to all sectors, including iGaming.

For more information, please visit www.softswiss.com.