The report found that bitcoin was the dominant cryptocurrency, accounting for more than 90 per cent of traffic. Meanwhile, ethereum and litecoin made up the remaining 10 per cent, following in second and third place respectively.

“The absolute and relative value of cryptocurrency gambling traffic has increased threefold in 2020, compared to 2019,” said Andrey Starovoitov, COO at SoftSwiss. 

“Bitcoin is no longer exotic. In the coming years, we expect to see even more gaming studios supporting cryptocurrencies in their games, as well as casino operators integrating new crypto payment methods for their players.”

SoftSwiss Game Aggregator statistics found that cryptocurrency usage had increased on a global scale, with particular growth in Canada, Latin America and Russia. 

The report concluded that the rapidly growing popularity of cryptocurrency as a means of payment leads to a rising interest in crypto gambling, a marketplace previously dominated by fiat.

More than 3,000 games on the group’s game aggregator platform support the use of cryptocurrency, which the provider explained can be added to any gaming software platform through an API integration.

Real Dealer Studios became the most recent company to join forces with SoftSwiss which will see the games producer make its entire suite of titles available to operators that are powered by the SoftSwiss platform.

The post Softswiss reports three-fold increase in crypto gambling traffic appeared first on CasinoBeats.

Taking place yesterday (Monday 4 September), the suspicious transactions were confirmed by the online casino and sportsbook as affecting its Ethereum and BSC hot wallets.

Three hours ago, unauthorised tx’s were made from Stake’s ETH/BSC hot wallets.

We are investigating and will get the wallets up as soon as they’re completely re-secured.

User funds are safe.

BTC, LTC, XRP, EOS, TRX + all other wallets remain fully operational.

— Stake.com (@Stake) September 4, 2023

However, in a post on X, the group did offer assurances that its consumers’ funds were safe, with Bitcoin, XRP and other wallets said to have been unaffected and remained fully operational. 

A number of reports have the exact figure drained standing at $41.3m, although this has not been confirmed by Stake.

Broken down, this reportedly includes $15.69m worth of Ethereum, $7.825m of MATIC and $17.825m worth of BSC was ultimately hacked and rewired. According to reports, total lost funds from hacks and exploits through 2023’s Q1 and Q2 stood north of $650m.

All services have resumed! Deposits & withdrawals are processing instantly for all currencies. We apologise for any inconvenience. ?

— Stake.com (@Stake) September 4, 2023

A little over four hours after its initial update, Stake issued a follow up to note that normal service had been resumed following an internal investigation into the matter.

“All services have resumed! Deposits & withdrawals are processing instantly for all currencies. We apologise for any inconvenience,” it said.

Stake was established in 2017, and counts a number of sporting partnerships as part of its portfolio. These include European Cricket, Everton Football Club and the UFC, as well as being the Alfa Romeo F1 team’s official co-title partner.

The post Stake quickly resumes operations following $41m hack appeared first on CasinoBeats.

Including Shiba Inu, the alternative dog-themed meme coin, Cloudbet’s 11 new coins to join the nine already in use include Cardano (ADA), Binance Coin (BNB), Polkadot Coin (DOT), Fantom (FTM), Solana (SOL), Uniswap (UNI), Avalanche (AVAX), Algorand (ALGO), Polygon (MATIC), and Binance USD (BUSD).

On the inclusion, a Cloudbet spokesperson stated: “Feedback from Cloudbet customers has always guided the addition of new coins and tokens to our platform, so we expect to see some real winners from this set of 11.”

Lauding its own reputation, that the company states is “built on unparalleled security and speedy withdrawals”, the bitcoin casino and sportsbook noted that it lined up the new tokens and coins to “enable crypto betting enthusiasts to select their preferred experience”.

Moreover, Cloudbet also supports BNB, which has allegedly become a popular alternative to Ethereum due to its lower cost, on the Binance Smart Chain.

To supplement this new release, Cloudbet has released a brand new promotion whereby if players use BNB, ADA or SOL as their betting method, they stand to win back 10 per cent of any losses (up to $1,000) during this week.

The post Cloudbet introduces 11 new cryptocurrency coins appeared first on CasinoBeats.

Speaking to CasinoBeats, BGaming director Marina Ostrovtsova dissects the reasons why crypto is helping the game developer to meet the needs of its partners while also elevating the overall player experience. 

CasinoBeats: BGaming has been labeled as the first slot developer to incorporate cryptocurrency within their titles, what made you make this decision? And how popular has it been with players? 

MO: This label is tightly connected to our roots and the time when we started building games. So this is in our history already. 

This is not a secret that we are a part of the group of companies that includes different platforms for online casinos, so when we decided to build the platform for crypto casino, this was the obvious choice to incorporate this into the games. 

When everybody on the market was trying to flirt with cryptocurrency, we actually had a very serious affair and that is how it transformed into the label. 

The interest in crypto is still growing and we, of course, keep abreast of the situation. BGaming expands its presence in crypto projects. For example, a few weeks ago BGaming started cooperation with BetBit, the world’s first bitcoin casino. We are going to widen the partnership with another crypto project Wagerx shortly. 

CasinoBeats: Within your games, which cryptocurrencies have you implemented and what was the process in deciding? 

MO: From the very beginning, the obvious choice was BTC, that is how it all started. Litecoin and Dogecoin jumped in straight after. This threesome was alive and kicking until Etherium started rocking. So we saw the demand from operators and this was just a matter of settings until we enabled this one. Further, this was already a process for us – seeing this demand, and reacting accordingly. 

It is always about feeling what your current clients need, about identifying it with what we have on the market. So this is the foremost. The second major would be the system itself – from the very start we have built the system to be able to work with any currency out there even if this does not yet exist. 

CasinoBeats: Cryptocurrency lives in a very volatile market with its value altering on a nearly hourly basis. Is this an issue when it comes to using digital currency?

MO: This is an excellent question, and for sure this is an issue. It is important to answer another question though – what are these realistic use cases for our business?

For the game provider, this is just the currency players making their bets and using crypto in the whole portfolio of currencies supported is just broadening the audience and gives this audience more flexibility and freedom. 

But here we can stumble upon another issue – if our business has an effective system in place to balance and manage the risks. Speaking on behalf of a game developer, it is essential to have a flexible system to reflect all the changes. 

Accepting cryptocurrencies makes game suppliers always be prepared to change (either the bets in the game, or the system itself) and this is challenging on its own. From the very beginning, we all do it manually, moving slowly to more automated versions of our systems and platforms. 

CasinoBeats: In the past, we’ve seen changes in interest around cryptocurrency. Are current levels of enthusiasm here to stay? And how can slot developers make the most of the opportunities presented by the crypto space?

MO: Let’s be honest – millions of people around the world have been observing the hype around bitcoin lately, even those who have never used them before even a tiny bit. Many celebrities were tweeting it as if this is their regular basic staff to share, which can be true. So this is already something deeply rooted in society. And I am not only talking about our industry specifically, a lot more people nowadays want to be a part of it, want to understand the technology standing behind it. 

Many people are already using blockchain technologies, sometimes not even realising it. So this is already an ecosystem we live in and yes, there will always be enthusiasm around it. 

For the game provider – we can try to use the technology to the fullest in our production life cycle as this one is one of the most progressive and flexible.

CasinoBeats: How significant is the transparency and efficiency of digital currency to boosting your players’ user experience?

MO: First of all – you can play internationally, but not only play but withdraw faster from anywhere in the world without any restrictions. Also, you can feel more secure while using crypto and you can stay anonymous. All of that is already boosting player experience. 

Still, this is the level of interaction with an operator. Now what is left is to pick your favourite place to play at and one of the BGaming titles and have a great time. 

CasinoBeats: Moving forward, what do you envisage in the future collaboration with online casinos and the cryptosphere? Will we see more and more casinos develop their own wallets for crypto and see more titles incorporate various currencies? 

MO: I envision the room – the space for innovation. 

With more restrictions and rules nowadays we can see some cryptocurrencies specifically created for online gaming (there are several examples already). Those tailored coins allow maintaining low transaction costs, immediate transfers, and more security. 

From the developer’s point of view – the process of being emerged into new technologies and processes can be even more fascinating than playing games. 

The post Marina Ostrovtsova: Why cryptocurrency is an integral part of the BGaming story appeared first on CasinoBeats.

Turnover has notably increased across the Asian market, found the report, with the solutions provider stating that this was ‘largely due to the entry of cryptocurrency casinos into this region’, complemented by traffic growth in Japan, India and Indonesia.

SoftSwiss COO Andrey Starovoitov commented: “Our clients continue expanding to the LatAm region, and although it is too early to talk about significant volumes, we expect to see Brazil among the leaders in the nearest future.”

Looking at individual cryptocurrencies, the report noted that ethereum (ETH) had ‘doubled its share’ – up from 4.5 per cent in Q1 2020 to a ‘record’ 10 per cent in Q1 2021. This currency, said SoftSwiss, became ‘the most used’ cryptocurrency in India at the end of Q1 2021.

Litecoin’s share fell from 4 per cent to 3.5 per cent while Dogecoin’s share tripled from 0.5 per cent to 1.5 per cent. However, Bitcoin remained the most popular form of crypto payment, accounting for 83 per cent of all cryptocurrency transactions. 

Evolution’s live games appear to be the most popular games for crypto, with Aztec Magic Deluxe, Elvis Frog in Vegas by BGaming, and Wild Spin Blackjack VIP by Platipus all attracting high volumes of traffic.

The post SoftSwiss Game Aggregator report highlights cryptocurrency growth appeared first on CasinoBeats.

The new cashier function works on all mobile devices, enabling players to track deposits and withdrawals, while ethereum – the world’s second most popular cryptocurrency after bitcoin – is also now accepted.

Tauri Tiitsaar, head of casino at Bitcasino.io, said: “Mobile betting has never been more popular, so it makes sense for us to cater for players to offer the best service possible.

“We’re always looking to innovate and stay one step ahead of our rivals, and that’s exactly what we are doing with the launch of our mobile-first cashier and addition of the world’s second most valuable cryptocurrency.

“We are positive players will love both additions,” said Tiitsaar.

Bitcasino users can now deposit, play, win and withdraw in both bitcoin and ethereum, while also taking advantage of BTCXE, the industry-first fiat-to-bitcoin currency converter.

The post Bitcasino.io boosts mobile focus and adds ethereum appeared first on CasinoBeats.

Initially launched in partnership with mobile identity platform Yoti, alongside global identity data intelligence specialists GBG, who will be the first to integrate into FunPass, more are set to follow as improvements to flexibility are undertaken.

Jez San, FunFair founder and CEO, commented: “FunPass is bringing player registration into the 21st century. KYC procedures are typically clunky and slow for players, and needlessly expensive for operators, but by using blockchain technology, we’re making it quicker and easier for players to choose where they want to play.

“We’re ensuring that players aren’t put-off by a needlessly long sign-up process, and improving our socially responsible gaming provisions, which all of our operators will benefit from in future.”

Harnessing the blockchain to reduce costs for operators as well as speed up players’ registration process, FunFair details that FunPass lowers “the barriers for them to seamlessly jump between FunFair-powered casinos”.

FunPass enables users to go through the KYC procedure just once to be able play on any FunFair-powered casino, while operators “will have a choice of provider dependent on their regulatory requirements and personal preference”.

Following successful registration their Ethereum wallet is tagged on the blockchain with approval for a FunPass, with FunFair detailing that “this is the only user data held on the blockchain, with minimal personal information held in a private FunFair server for regulatory purposes”.

Thom White, future technologies lead at Yoti, stated: “We’re delighted to be working with FunFair Technologies, to make the gaming experience better for operators and players with Yoti’s digital identities.

“FunFair shares our dedication to transparency and building trust between businesses and consumers – the FunPass solution uses Yoti to provide a simple, private and secure way for people to prove their identity on all FunFair powered casinos.

“KYC is traditionally a long and arduous process, that involves sharing passport copies and waiting days and sometimes weeks for verification. Yoti and FunPass will streamline the process with pre-verified identities, helping people onboard in seconds.”  

FunFair details that its new solution is to have the capacity to link to national self-exclusion databases moving forward, through its bank of approval player wallets across operators, allowing a consistent and accessible process for stakeholders within its ecosystem.

Adam Doyle, global gaming sales manager at GBG, added: “We’re incredibly excited to partner with FunFair to develop an industry-leading KYC solution, that benefits blockchain casinos and their players.

“We are always looking to help businesses make smarter decisions, and with GBG, FunPass will be able to verify the identity of over 4.4 billion of the world’s population in seconds, providing not only tangible monetary savings to businesses, but improving the players’ experience.”

The post FunFair Tech to streamline registration process via FunPass solution appeared first on CasinoBeats.

CB listened to a podcast, read some articles and watched a baffling UK TV ad about blockchain “controlling your house”. In search of clarity, we spoke to Oliver Hopton, founder of FunFair Technologies, to discover What are The Facts.

CasinoBeats: Please explain briefly – in terms a child could understand – what is the blockchain?

Oliver Hopton: The blockchain is a distributed digital ledger. It contains details of every transaction that has ever been completed upon it. The information is held in a logical, historical, secure and unchangeable way, in what are called blocks.

These blocks are linked in a chain, hence the blockchain, with each block of information referencing the previous one, ensuring that the information cannot be altered as they are linked to one another. You can think of it resembling, in some ways, a house of cards, where you can’t remove a card without the whole thing tumbling down.

“Decentralised refers to the fact that the majority of blockchains do not rely on a single point of control“

CB: Can you explain the term decentralised and its relevance to blockchain?

OH: Decentralised refers to the fact that the majority of blockchains do not rely on a single point of control. Therefore, rather than allowing a central body to deal directly with users of the technology as banks, for example, might do, thousands of ‘nodes’ (effectively hosts of the entire blockchain’s information) validate transactions and record data in a much more secure manner.

The fact there are several thousand of these nodes means that one can be compromised yet the blockchain’s information remains present and correct. This means that there is no doubt that the information held on a blockchain is true, because there are multiple copies which require consensus to alter them.

Attempts to disrupt the blockchain are pointless as attacking one point of storage doesn’t affect the many others out there, unlike in the case of a centralised system. Anyone can add their computer storage to the blockchain and for each extra copy of the blockchain added, the chance of failure – which is extremely unlikely – reduces even further.

CB: What is the relationship between blockchain and cryptocurrency? Is there one blockchain for every cryptocurrency?

OH: The blockchain is the ledger which cryptocurrencies are traded or utilised on, and a cryptocurrency is a medium of exchange that holds value and sits on the blockchain. Most blockchains do have their own cryptocurrency but every cryptocurrency doesn’t have its own blockchain. Bitcoin, the most recognisable cryptocurrency, uses its own blockchain, whereas Ethereum, a more adaptable and intelligent blockchain, allows for various cryptocurrencies to be used simultaneously on it, including its own.

“Some blockchains allow for more complex information to be shared, while others are far simpler”

CB: Thus far nothing seems to have proved unhackable, how can blockchain be so secure?

OH: The blockchain is secure by its very definition of being distributed. To shut the blockchain down, effectively every node in the world would have to be wiped out simultaneously. But, even if the global internet network went down, these copies would still be stored remotely and could then be updated once live again.

There are situations where companies and individuals heavily involved with the blockchain have been hacked, but there is a common misconception that the blockchain is at fault. Instead, these issues generally arise from weak points in personal information security and data breaches, as with standard hacking techniques.

There have been occasions where fraudulent transactions have been committed, because one aligned group controls over 51% of the nodes, and could in effect ‘change history’, but these are rare and the more popular and distributed the blockchain, the less likely this is to happen.

CB: Is each blockchain the same size or do sizes vary?

OH: Each one differs by the amount of information on it. Some blockchains allow for more complex information to be shared, while others are far simpler. The actual size or the amount of data held on it, which can be calculated in bytes like any computer software, also depends on its popularity.

“As more investment is plunged into blockchain, its use cases are becoming more apparent”

CB: Banks have been wary of blockchain technology, why do you think that is?

OH: First of all, they’re concerned, as would any industry be, by a disruptive technology which could alter the face of their industry. A successful blockchain currency exchange market is a significant threat to their wider business model. However, some are more open-minded than others.

As more investment is plunged into blockchain, its use cases are becoming more apparent. As we’ve seen, one of these is gambling where it can verify fairness and security, but financial institutions are also becoming more interested in its use. Billions have been invested in the sector by some of the biggest banks in the past year, and while they may not have practical use cases just yet, they’re well on their way.

A distributed bank, powered by blockchain technology, is currently being developed in Malta, a world-leading country in its progressive regulation for blockchain, and when this is live, will remove the need for costly banking middle men and empower the masses to have fairer banking technology. 

For more information, visit https://funfair.io or email info@funfair.io.

The post WTF is… the blockchain? appeared first on CasinoBeats.

By entering the agreement FansUnite, a sports betting and sports data application built on the Ethereum blockchain, is set to be introduced to millions of poker enthusiasts globally via an integration with a plethora of WPT offerings.

Shafin Diamond Tejani, CEO of Victory Square Technologies, addressed the new link-up: “FansUnite is transforming the sports betting and sports data marketplaces with its proprietary blockchain protocol. This is a continued validation of Victory Square’s strategic direction to invest in sports technology, a sector hungry for innovation that’s experiencing massive growth.

“With the global reach and influence the partnership with WPT brings to FansUnite, we can expect continued growth and success for this high performing team.”

Poker players can expect to see a variety engaging promotions, such as giveaways, contests, and product showcases, be featured at select WPT events throughout Europe and Asia.

FansUnite, which comes under the Victory Square Technologies banner, is to also work in conjunction with WPT’s casino partners to showcase the company’s offerings to players and operators alike.

“The sports betting and blockchain industries continue to provide applications to the gaming world, and the World Poker Tour is proud to name FansUnite as an official partner,” Adam Pliska, CEO of the World Poker Tour, commented. “We are thrilled to introduce FansUnite to the WPT’s millions of poker players and fans across the globe through television, digital media, live events, and more, and we look forward to further strategic partnership integrations and activations with FansUnite.”

As a result of the union, FansUnite is to be integrated into a multitude of WPT’s offerings, including:

• International TV distribution.
• Showcasing “Plays of the Week” on the Heads Up Daily (HUD) series on Super Channel in Canada, as well as numerous other appearances across the broadcast. “HUD is the multiscreen destination for all things relating to Esports and video game culture”.
• Social media cross-promotion.
• On-site promotions and unique player opportunities at WPT events throughout Europe and Asia.
• Joint promotional tie-ins in conjunction with FansUnite’s official partner Leicester City Football Club of the English Premier League.

Darius Eghdami, FansUnite CEO, added: “Over the last two decades, the World Poker Tour has been at the forefront of gaming entertainment. WPT’s worldwide reach, instant name recognition, hundreds of thousands of players and millions of fans make them the class of their industry.

“This partnership introduces FansUnite to millions of poker enthusiasts across the globe, and gives WPT partners the first look at our industry-changing technology.”

The post WPT integrates FansUnite blockchain sportsbook across global platform appeared first on CasinoBeats.

The global interactive entertainment brand, founded in 1972 and behind classics such as Pong, Missile Command, and Asteroids, makes the move in its latest foray into the crypto ecosystem following the launch of its dedicated ATRI token last year.

The Atari Casino is to occupy a 20 parcel casino estate in the Casino Quarter of Vegas City, a gaming district in the group’s Decentraland‘s metaverse, which will be leased on an initial two-year term.

Set to launch in May of the year, the entity will feature Atari-themed games and  non-fungible tokens, with players able to earn Decentral Games’ native token $DG by playing with MANA, DAI and the aforementioned ATRI.

According to both Atari and Decentral Games, the introduction is expected to produce $150m of bets in 2021 rising to approximately $400m over two years.

Offering a little insight into what can be expected, a media release stated: “Look forward to Atari-themed games, where nostalgia-inducing games are brought back with a twist. 

“There will be games of luck, and games combining skill and luck. There will also be an ‘Atari special’ game where you can win by skill instead of pure luck.”

“Through collaborating with Decentral Games, we can move the Atari gaming experience onto the blockchain,” Frederic Chesnais, Atari’s CEO, is quoted as stating to Coin Desk.

Last year, Las Vegas, Nevada, and Phoenix, Arizona, were pinpointed as the first locations that will see the development of the pop culture and video game inspired Atari Hotels.

This followed the signing of a licensing agreement with US real estate developer True North Studio and GSD Group, for the development of the venues in a number of cities in the country.

Subsequently, GSD hired architecture and design firm Gensler and unveiled their vision for the facilities that will also see future branded venues constructed in Austin, Chicago, Denver, San Francisco, San Jose, and Seattle.

The post Atari partners with Decentral Games for crypto casino appeared first on CasinoBeats.