One of the pioneers in the whole online casino industry, Slotland Entertainment, upgraded its business and opened a new cryptocurrency casino. The long-expected CryptoWins casino currently offers more than 350 games created and developed by six popular gaming providers.

Fantastic game offering

The difference between this casino and the ones the players are used to visiting lies in the withdrawal method – all withdrawals and deposits are placed in cryptocurrency.

Among the games included in the casino’s offering are classic slots, always popular among the players, as well as video poker, keno, bingo, and table games. The slot offering is huge, and this is the casino’s main focus since the offering includes 85 captivating slot titles. For the players who prefer other types of games, there are also fantastic lottery and crash games offered, so there’s no doubt that everyone would find something to enjoy.

Slotland Entertainment has its own game developers, so many of the games in the casino’s offering are created by the company itself. However, there are captivating titles developed by EvoPlay, Felix Gaming, Rival Gaming, Spinthon, and Vibra Gaming, and it is planned to include even more studios in the future.

The players will be able to enjoy some of the hit titles, such as Samba Queen, which leads the players to the never-ending carnival and has huge win potential thanks to the double wilds and free spins bonus feature. There is also Sugar Daddy, where the players can meet gold diggers and collect stacks of cash, diamonds, and other luxury stuff that appear on the reels. In Gangster Affair, the players can hang out with Bonnie and Clyde while enjoying two free spin features and two fantastic jackpots.

Benefits for players

Using cryptocurrencies greatly improves the overall player experience as well. Almost all popular cryptocurrencies can be used to transfer funds, including stablecoins, and the withdrawals are rapid, so the funds can be deducted day-to-day. Current options are Bitcoin, Litecoin, Ether, Monero, Tether, Binance Coin, and USD coin, with more options to be available soon.

The login is easy; an e-mail address is the only thing that is required. However, if extra anonymity is desired, it can be established through the players’ crypto wallet ID.

The casino offers various bonuses as well as VIP perks for its loyal customers, including matching bonuses that can go up to 3 BTC. If you want to take more risk and become a high roller, you can deposit at least $1.000 to get a 177% high-limit welcome offer. Even if you don’t win, there’s a great weekly cashback bonus of up to 7% of the loss that occurred in the week before.

Source: Campbell, Alan, “Slotland Entertainment Launches CryptoWins, a New Crypto-Only Online Casino with a Huge Selection of Games from Six Games Providers”. EuropeanGaming. December 5, 2023.

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SOFTSWISS, the established international provider of software and content for online casinos and sportsbooks, has released the results of its research which shows that the cryptocurrency segment has experienced slower growth compared to the entire iGaming industry in the first nine months of 2023.

The analysis conducted by SOFTSWISS was based on data collected from the over 530 online casino and sportsbook brands which are currently using the supplier’s online gaming platform. Moreover, the company also took into account the in-game currency conversion possibilities as SOFTSWISS clients are able to play fiat only games even when holding just crypto currencies in their balance.

The global iGaming market has registered constant growth during the first three quarters of 2023. The total amount of money wagered went up by 36.6 percent compared to the first nine months of 2022, and the number of bets have also gone up by 50 percent year-on-year.

However, cryptocurrency bets during the first nine months of 2023 registered an increase of just 18.7 percent compared to the previous year. Nevertheless, the number of crypto bets went up by 66.4 percent compared to 2022. The share of crypto bets in the total bets amount decreased by 4.3 percent, ending up at 28.5 percent.

The analysis conducted by SOFTSWISS also points out that the sums of crypto bets registered incremental growth from quarter to quarter since the beginning of 2022, but their share in the total bets sum decreased, mainly due to larger increases registered by the sums of fiat bets.

Andrey Starovoitov, Co-Chief Executive Officer at SOFTSWISS, underlined that cryptocurrencies are showing signs of weakness in other fields as well, such as fundraising, “where the third quarter showed its worst results since the end of 2020”. However, Starovoitov concluded that “the position of cryptocurrencies in iGaming could be evaluated as comparatively stable at the moment.”

Top 5 Most Used Crypto Currencies

SOFTSWISS also revealed which were the most used digital coins in the iGaming industry during the first three quarters of 2023. The top five doesn’t bring any surprises, it remains unchanged since the beginning of 2022 with Bitcoin dominating the market with a 74.9 percent share, Ethereum gathered 8.9 percent, Litecoin followed with 6 percent, Tether had 4.6 percent while Dogecoin wrapped up the top five with 3 percent.

Bitcoin also managed to register an increase of 3.9 percent in its share compared to the first nine months of 2022. Ethereum on the other hand lost 6.3 percent from its market share during the first three quarters of 2023.

Source: “9M 2023 Crypto in iGaming Landscape: Moderate Growth Amidst Fiat Rise“. SOFTSWISS. October 24, 2023.

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The newly formed Gambling Regulatory Authority (GRA) has announced a complete ban on the use of cryptocurrencies in land-based casinos, reported Inside Asian Gaming. 

Regulator Aims to Prevent Cryptocurrency Usage in Singaporean Casinos

Albert Yeo, GRA’s General Counsel, stated that casinos have no appetite for the volatile revenue stream associated with cryptocurrencies. The agency aims to prevent digital currencies from even entering the casinos, as allowing their use could prove difficult to stop once it began. Yeo added that the agency is examining legislative frameworks to prevent their use in casinos.

Yeo revealed that the agency is currently engaging with game developers to understand the implications of blockchain-based games like Axie Infinity, where players can trade NFTs and earn Rare Antiquities Tokens. The regulator is grappling with whether this currency constitutes money, money equivalent, or anything of value. If players earn cryptocurrency in the game, they can easily take it out and put it on exchanges.

Singapore’s broader reluctance to regulate the trading or use of cryptocurrencies extends to a ban on advertising by crypto exchanges. The Monetary Authority of Singapore, in a statement issued last November, emphasized the risks of dealing in cryptocurrencies, stating that crypto exchanges can and do fail and cryptocurrencies themselves are highly volatile, with many losing all value.

GRA Takes Holistic and Agile Approach to Regulate Singapore’s Gambling Landscape

The Gambling Regulatory Authority (GRA), established in August 2022 to oversee the entire gambling landscape in Singapore, is designed to keep pace with technological and gambling trends. Its attention is primarily focused on the use of crypto in online gaming, as tracking blockchain transactions poses a significant challenge for regulators.

The GRA replaced the Casino Regulatory Authority (CRA) and is overseeing all forms of gambling in the country, including new products that use technology to blur the line between gaming and gambling. 

The GRA was established through the Gambling Regulatory Authority of Singapore Act and the Gambling Control Act, both of which were passed in March 2022 and came into force on August 1 of the same year. 

The Ministry of Home Affairs reviewed and updated the Casino Control Act to reflect the changes in the industry, and the GRA refreshed the licensing regime to issue more licenses for higher and lower-risk gambling activities. The new regulator has pursued the goal to take a holistic and agile approach to keep up with the pace of change in the gambling industry.

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