Q&A: SOFTSWISS casino platform boss

CGN spoke to head of SOFTSWISS’ Casino Platform Daria Avtukhovich about how the crypto gambling space has changed and what to expect in the future.

SOFTSWISS entered the crypto space in 2013. What have been the biggest changes the company has introduced in crypto casinos since then?

Over the years, the SOFTSWISS Casino Platform has evolved significantly to accommodate the crypto direction. We have integrated various cryptocurrencies and protocols, introduced currency exchange options for betting, and implemented crypto processing capabilities.

In addition, we have seen the emergence of game providers supporting crypto. Many casinos operating on our platform have started targeting crypto players more actively and provided guidance on how to begin playing with cryptocurrencies.

What does the SOFTSWISS crypto casino platform offer operators and – in turn – players?

As pioneers in the crypto casino industry, SOFTSWISS delivers a range of exclusive features. We guarantee rapid transaction speed and high capacity. Utilising crypto processing by CoinsPaid, our crypto casino solution ensures nearly 100% payment throughput.

We also streamline the KYC procedure, expediting withdrawals for players. And, of course, players can maintain maximum anonymity when making deposits due to the minimised disclosure of personal information or identifiable data.

Supporting all major cryptocurrencies and protocols, our platform features in-game crypto conversion, ensuring a seamless gaming experience. This facilitates swift depositing and cashing out, enhancing player convenience and satisfaction.

What does your data reveal about how people gamble with crypto compared to fiat currencies?

Our data indicates that individuals tend to engage in more frequent and higher-stake gambling when using crypto as opposed to fiat currencies. Recent crypto reports show that the average crypto bet is doublethat of fiat, which indicates that digital currencies are preferred by higher-income players. 

The allure of anonymity, speed, and accessibility associated with crypto drives this behaviour, enabling players to swiftly place bets and potentially withdraw winnings without relying on traditional banking channels.

Moreover, the inherent volatility of cryptocurrencies attracts some players seeking to leverage price fluctuations to amplify their gambling investments. However, we have also observed concerns among certain players regarding the lack of regulatory oversight and accountability in the crypto-gambling sphere, raising apprehensions about potential fraud and fund loss.

Overall, while the use of crypto in gambling is on the rise, it's essential to exercise caution to ensure a secure and equitable gaming environment for all participants.

How many cryptocurrencies are supported by the SOFTSWISS platform, and how do you decide when they should be added?

The SOFTSWISS Casino platform supports a wide range of cryptocurrencies, and the decision to add a new one involves careful consideration of several factors. Firstly, we assess the technological features, unique capabilities, and potential for widespread adoption of the cryptocurrency or token. Market capitalisation and growth prospects also play a crucial role in our decision-making process.

Furthermore, we take into account the community of users and investors backing the specific currency or token, as their support can significantly impact its popularity and value. Lastly, we consult with our clients to ensure alignment with industry trends and preferences, as their input helps us stay updated on the evolving landscape of crypto.

What emerging trends should we all be aware of right now?

While cryptocurrency volatility remains a factor to consider, the rapid advancement of AI technologies is transforming player experiences. Predictive analytics and targeted recommendations are revolutionising engagement strategies, while content gamification and personalisation tactics deepen connections between players and gaming platforms.

Moreover, the recent Bitcoin halving has fuelled speculation of wider crypto adoption. However, it's essential to note that Bitcoin isn't the sole contender in this arena. Keep an eye out for the rise of alternative cryptocurrencies as they gain traction for deposits and wagers in the gaming sector.

How does the lack of regulation in crypto impact SOFTSWISS when creating products for the crypto casino space?

The lack of stringent regulation in the crypto sector presents both opportunities and challenges for SOFTSWISS when developing products for the crypto casino space. On the one hand, the absence of strict regulations allows for greater flexibility and creativity in devising player engagement and retention strategies.

However, it's crucial to strike a balance by implementing responsible gambling measures. At SOFTSWISS, we prioritise player welfare and recognise the importance of fostering long-term loyalty. By investing in initiatives promoting responsible gambling, we aim to safeguard players' wellbeing.

How do you expect the crypto casino space to evolve over the coming two to five years?

Over the next two to five years, we expect the crypto casino space to undergo significant evolution and growth. As cryptocurrencies become more mainstream and widely accepted, they will increasingly integrate into everyday life, including the igaming sector.

The comparative analysis of the 2023 Crypto Bet Sum compared to previous years shows a notable 21.1% increase, while the Crypto Bet Count saw a significant year-on-year rise of 50.5%. This upward trend in betting activity reflects a growing interest and participation in crypto gaming. This upward trend in betting activity reflects a growing interest and participation in crypto gaming.

We anticipate crypto gambling will mirror the general trend, following a clear trajectory for growth and development within the igaming industry. I am sure crypto casinos are poised for increasing success in the years ahead.

Looking for your next crypto casino? Check out Mega Dice or FortuneJack!

Written by Hannah

Hannah is editor of CryptoGamblingNews.com and has almost 15 years experience in journalism, including reporting on law, TV, gambling, crypto and alternative finance. She is particularly interested in the future of money, the transition of gambling from 'vice' industry to mainstream entertainment and the application of blockchain technology to wider society.

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