The Shift in iGaming Deposits: Why Fiat is Gaining Ground Over Crypto in 2024

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Recently, I delved into the comprehensive analytical report by SOFTSWISS, which focuses on the evolving preferences of players in choosing cryptocurrencies for wagers. It's fascinating to see that many of their findings closely align with my own observations based on an in-depth analysis of KPIs and financial metrics within iGaming projects.


šŸ“Š 2024 Trend: There's a noticeable shift towards fiat payments, as confirmed by the SOFTSWISS report. Even though the total volume of crypto wagers increased by +2.3% in H1 2024 compared to the same period in 2023, the share of crypto deposits significantly decreased by -8.9%. My data shows a similar trend, with a decline of around 4%, which may indicate differences in target markets and audience behavior.


H1 2023 vs. H1 2024 Deposit Segmentation:


- H1 2023: Fiat: 70.5%, Crypto: 29.5%

- H1 2024: Fiat: 79.4%, Crypto: 20.6% (-8.9%)


In my experience, the deviation from the SOFTSWISS data is approximately 4%, potentially due to audience segmentation and varied user acquisition strategies.


Top 5 Cryptocurrencies Favored by Players:


1. BTC: 52.72% — Despite a significant drop in share, BTC continues to dominate crypto deposits.

2. LTC: 14.32% — An increase of +8.9% highlights the growing interest in liquid altcoins.

3. ETH: 14.14% — A stable position, reflecting its utility in transactions and smart contracts.

4. USDT: 11.72% — Gaining popularity amidst the volatility of major cryptocurrencies.

5. DOGE: 4.59% — Retains its position, confirming its relevance among a specific segment of players.


SOFTSWISS also notes the rising popularity of Litecoin and Tether, which aligns with my data. However, the observed decline in BTC's share by -23% is likely due to players' strategies to hold the asset, anticipating future value appreciation.


#iGaming #CryptoTrends #BTC #LTC #ETH #USDT #FiatVsCrypto #KPI #DataDriven #SOFTSWISS #CryptoGaming #GamingIndustry #Trends2024

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