Author: EuropeanGaming.eu

The Malta Gaming Authority (MGA) was one of the participants at a conference organised by the Council of Europe and UEFA, in collaboration with the International Olympic Committee and INTERPOL, on the emerging use of social media platforms in match-fixing.

Entitled “Sports Competitions Manipulation in the digital era: better addressing it together”, the conference focused on the misuse of social media platforms in contacting players and referees for match-fixing purposes.

The conference brought together the Group of Copenhagen’s National Platforms, the sport movement, public authorities, data brokers and social media representatives to learn about and exchange knowledge on recent trends in sports competitions manipulation.

As such techniques become increasingly sophisticated, real opportunities are emerging for further discussions and improved prevention efforts.

Antonio Abdilla Zerafa, MLRO and Head of Financial Crime Compliance at the MGA, said that the Authority’s presence at such fora was important since the MGA continuously assists law enforcement and sports regulatory bodies with their investigations into acts of sports competition manipulation through the sharing of intelligence, which includes betting data.

“In this particular conference, it was nice to see social media platforms also being welcomed into the discussion. Personally, I regard this as a milestone as I believe that such platforms have a lot of information that they can bring to the table to help prevent and investigate such crimes.”

The conference was held on the 19th of October in Strasbourg.

With less than two months left in 2022, it is safe to say that it has been another year where cryptocurrency has been a hot topic across numerous industries, including the online real money gambling space.

As the first iGaming software company to work with cryptocurrencies, SOFTSWISS regularly shares the сompany report which includes the most recent insight into the performance of crypto coins across key products to inform the wider community about the market’s potential.

Before diving into the specifics of crypto, it is worth noting that during the first three quarters of 2022, total bets on the supplier’s platform increased by 33.1% compared to this period in 2021, showcasing significant growth of interest in its products.

Further underpinning the strong performance of the SOFTSWISS business model and its increased client base, the company’s GGR for the first three quarters was also up compared to the same period in 2021.

The growth was mainly driven by an increasing number of partners using the Casino Platform and the Game Aggregator solutions, with clients seeing a solid performance from both products. The difference in GGR year-to-date is a staggering 36,6% increase, with SOFTSWISS’ client base continuing to expand, ensuring bettors utilise the supplier’s array of products with both fiat and cryptocurrencies.

CRYPTOCURRENCIES DECLINE  

While the value of all bets in fiat currency increased by 8.4% on a quarter-on-quarter level and by 24,2% on a year-to-date level, there was an overall decline in the number of individual crypto bets placed.

Compared to the second quarter, the value fell by 5.9%. However, in comparison with the three quarters of 2021, we can note a more considerable drop in cryptocurrency bets – 23,5%.

Q2 highlighted the cyclical nature of cryptocurrency. While this is nowhere near the crypto winter the iGaming industry was crying out about, it does signal an upcoming downturn phase in cryptocurrency betting. However, seasonality will likely play a role in Q4 as it usually does towards the start of the holiday season, which sees an uptick in bets.

Commenting on SOFTSWISS’ latest report, Vitali Matsukevich, COO at SOFTSWISS, said: “Despite the numbers, interest in cryptocurrency among players and operators is only increasing. As a comparatively new phenomenon in the iGaming industry, cryptocurrency faces a volatile environment, depending on different economic and social factors. However, we expect crypto rates to increase in the fourth quarter of this year, which will be driven by current gaming activity.”

FIAT MARKET SHARE ON THE RISE

A significant number of bets, more than 70%, are placed with fiat currency, and crypto bets account for one-third of the total bet volume. It is also important to highlight that in a comparison of the three quarters of 2021, the ratio of cryptocurrency bets was definitely higher at almost 44% – and this is reflected in the chart in comparison with the same period in 2022. This difference from last year over the current year is explained by the positive fluctuations of major and minor cryptocurrencies during the Second Wave in 2021.

From the players using crypto coins, data shows that Bitcoin, Ethereum, and Litecoin continue to be the most common options. In general, players remain loyal to their chosen crypto coins, with Bitcoin having near-ubiquitous dominance, as more than 72% of all crypto bets were placed with the currency in Q3. However, there is a firm belief within SOFTSWISS that USDT betting will be on the rise.

The ranking of the cryptocurrencies most frequently betting in Q3 is shown as follows:

• Bitcoin (BTC) – 72,8%;
• Ethereum (ETC) – 14,5%
• Litecoin (LTH) – 5,2%

One certain thing is that despite a continued decline in crypto bets in the third quarter of 2022, players still demand to use alternative currencies. More and more operators understand the importance of offering it as a payment solution, which is expected to continue.

The full list of the most popular cryptocurrencies is available in the company report.

Vitali Matsukevich commented: “Even though world events and crises of 2022 have quarterly impact indicators, prevailing market dynamics continue to favour cryptocurrencies and their use in online gambling. The crypto-friendly iGaming market remains relatively stable and is adapting in line with the global financial markets. We have a positive outlook on the future of crypto.”

About SOFTSWISS

SOFTSWISS is an international iGaming company supplying certified software solutions for managing gambling operations. The expert team, which counts 1,500+ employees, is based in Malta, Poland, Georgia, and Belarus.  SOFTSWISS holds a number of gaming licences and provides one-stop-shop iGaming software solutions. The company has a vast product portfolio, including the Online Casino Platform, the Game Aggregator with thousands of casino games, the Affilka affiliate platform, the Sportsbook Platform and the Jackpot Aggregator. In 2013, SOFTSWISS was the first in the world to introduce a bitcoin-optimised online casino solution.

The European Safer Gambling Week – which ran from 17 to 23 October – ramped up its impact in its second year with 24 events organised and safer gambling messages shared on social media across 17 EU member states – achieving 1.5 million impressions which is a 400% increase from 2021.

The European Safer Gambling Week is an annual pan-European initiative to promote safer gambling, provide customers with practical safer gambling advice, signpost the help available, and encourage open and honest discussions about Europe’s latest safer gambling initiatives, regulations and research.

The initiative was established by EGBA in 2021 and is organised by a group of European online gambling associations, including EGBA and its members, who come together each year to raise awareness about safer gambling in Europe.

This year there were 24 different events, podcasts, or local activities organised across Europe to discuss and promote safer gambling, and a social media campaign which shared translated safer gambling messages across 17 EU member states.

During the week, EGBA hosted four webinars which had over 1000 registrations, bringing together more than 600 stakeholders for meaningful discussions about safer gambling. These webinars had 21 speakers, including from the European Commission, Twitter, KPMG, Kindred Group, Entain, universities and harm prevention organisations, and a broad range of attendees across Europe.

“We are delighted with the second edition of the European Safer Gambling Week, both in terms of its awareness-raising impact and the collaboration achieved. We want to step up the initiative each year and already have plans to enhance the next edition and cement the week as an important yearly milestone in the calendar of Europe’s gambling sector. While the initiative focuses on a dedicated week of events and initiatives, EGBA and its members are committed to promoting a strong culture of safer gambling every day.” – Maarten Haijer, Secretary General.

Source: EGBA