Crypto Betting Shift in 2024

Crypto Betting Shift 2024: Altcoins Take Half of Crypto Bets

March 5, 2025

As Bitcoin’s value skyrocketed in 2024, crypto betting saw a significant shift, shaking up the iGaming industry. Altcoins now account for nearly half of all crypto wagers. SOFTSWISS unveils Bitcoin's game-changing impact in its annual ‘State of Crypto’ overview.

According to the 2024 annual crypto industry report, with its market capitalisation soaring to approximately Crypto Betting Shift in 2024 | SOFTSWISStrillion euro, Bitcoin alone accounted for more than half of the total cryptocurrency market value, further solidifying its influence in both traditional and digital financial ecosystems. SOFTSWISS experts analysed data from over half of a thousand brands to reveal relevant crypto tendencies that evolved during 2024.

Crypto Betting Shift in 2024 | SOFTSWISS

Crypto Betting Shift in 2024 | SOFTSWISS35.9% in 2024 compared to the previous year. Similarly, the Total Bet Count experienced the same growth rate, reflecting a strong upward trend in overall betting activity.

A detailed analysis since 2022 highlights a significantly faster rise in fiat bets compared to crypto. During 2024, the Fiat Bet Sum surged by 40.1%, showcasing its stable growth. Meanwhile, a more cautious approach toward crypto payments has resulted in a slower growth rate for the Crypto Bet Sum. This shift contributed to a 2.5-percentage-point (p.p.) decline in the crypto share in 2024, emphasising the increasing dominance of fiat transactions in the betting landscape.

fiat and crypto graph

Bitcoin’s Exchange Rate Impact

SOFTSWISS data confirms that cryptocurrency continues to play a significant role in iGaming payments. In 2024, the Crypto Bet Sum increased by 18.7% compared to the previous year. However, the Crypto Bet Count declined by 12.8%, indicating a more cautious approach to crypto betting amid Bitcoin’s rising exchange rate.

The surge in Bitcoin’s value also drove a 1.4x increase in the Crypto Betting Shift in 2024 | SOFTSWISS in 2024, while the average fiat bet remained stable. This trend highlights a strong correlation between the total wagered sum and fluctuations in cryptocurrency exchange rates.

Altcoins Make Up Nearly Half of Crypto Wagers

Altcoins’ share growth is another significant trend gaining momentum during 2024. According to SOFTSWISS data from operators reporting in crypto, the top five cryptocurrencies in iGaming – Bitcoin, Ethereum, Litecoin, Tether, and Dogecoin – have consistently formed the top 5 ranking over the years. However, their market dynamics have shifted significantly.

A new trend is emerging in iGaming, where established brands like Rollbit and Shuffle leverage proprietary tokens to enhance player engagement. These gaming-specific tokens offer seamless integration, reduced volatility, and exclusive perks, fostering innovation in payments and business growth. By creating internal ecosystems with unique rewards and potential external partnerships, proprietary tokens strengthen player loyalty. However, developing these tokens requires significant resources, including substantial marketing budgets, to build trust and encourage adoption.

Bitcoin’s rate surge in 2024 has driven higher average crypto bet sizes, yet the decline in total crypto bets suggests players are diversifying and managing risks more cautiously. The growing adoption of altcoins and proprietary gaming tokens highlights a shift toward more stable and engaging financial ecosystems. For operators, balancing fiat and crypto while leveraging payments innovation will be crucial for sustained growth in the evolving iGaming landscape.

Vitali Matsukevich

Chief Operating Officer at SOFTSWISS

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