SoftSwiss Enjoys a Strong 2021, as GGR More than Doubles Across the Year

Posted on: December 29, 2021, 06:18h. 

Last updated on: December 29, 2021, 10:38h.

Erik Gibbs Read More

Expertise: Asia Pacific Gaming, Gaming Business, Global Gaming.

SoftSwiss is bringing 2021 to a close on a high note. The game aggregator company reports that its full-year revenue was double in December what it was in January.

SoftSwiss, which recently gained entry to the Greek market, has delivered its financial health report for the year. It is setting the bar high for itself, with gross gaming revenue (GGR) going from €130 million (US$147.12 million) in January to €250 million (US$292.9 million) in December. This resulted in a full-year GGR total of €88 million (US$99.59 million).

It also reported an increase in the total value of bets. This went from €3.3 billion (US$3.73 billion) to €6.5 billion (US$7.35 billion). The average monthly amount was €5 billion (US$5.65 billion), more than twice the €2.2 billion (US$2.49 billion) recorded last year.

Much of that improvement came as a result of the company’s continued expansion. With iGaming constantly adding new ground, SoftSwiss has begun delivering new games to more markets, including Argentina, Brazil, India, Japan, and Tunisia. Its Greek expansion is too new to be considered for revenue purposes.

Currency of Choice Shows a Payments Paradigm Shift

For decades, gamblers didn’t have a choice when it came to how they funded their iGaming accounts. Fiat was the only option available, but could be problematic, as well. With large populations unable to access traditional banking options, this limited an online casino’s ability to cater to certain markets. That is no longer the case.

Cryptocurrencies have become a major component of iGaming. They are available anywhere a gambler would want to be, and don’t require a traditional bank account. The financial report provided by SoftSwiss shows how relevant crypto has become and the direction it’s headed.

Cryptocurrencies are an obvious trend in the gambling industry, so in our development, we put special emphasis on their use. The 2021 figures are the expected result of the company’s strategy to expand its portfolio with crypto products,” explained SoftSwiss COO Andrey Starovoitov.

SoftSwiss indicated that 40% of all the currencies used this year were crypto. As with the rest of the company’s figures, crypto use saw a 100% year-on-year increase.

Bitcoin controlled much of the crypto payments at 83.3% of the segment. That put it in fifth place among all currencies the aggregator accepts. Ethereum held 8% of the payments and Litecoin had 3.9%.

More growth will come in 2022. Last year, SoftSwiss added 60 clients and more than 20 game providers. It added more this year, and the revenue from all of the operations should stay on the same course it has been for 2021.