Following the debut of the In-Game Currency Conversion feature, which was introduced last year, 85% of each crypto casino wager boosted by the SOFTSWISS Casino Platform is made through the aforementioned tool. In this regard, the Casino Platform team has published important insights achieved by analyzing yearly statistics.
Description of In-Game Currency Conversion feature
During 2022, the SOFTSWISS Casino Platform presented the In-Game Currency Conversion feature as mentioned above. The feature is presented as a “crypto-centric solution” that unseals the newest business chances for users and provides players with “more freedom of action.” Additionally, it enables players to transform their cryptocurrencies into as much as 9 fiat currencies, offering them to wager on games that don’t naturally back up crypto. This significantly extends the range of content accessible to crypto-players.
However, the initial thing that the said Casino Platform team observed was the large conversion of regular users of the said feature. This further means that nearly 65-70% of players who have used the mentioned feature minimum of one time, carry on with making more than 90% of their wagers through the “built-in functionality.” These players become repeat users, showing that the feature has discovered its niche and reached product-market fit.
One more important insight is that the “retention rate“ of the group of players who utilize the In-Game Currency Conversion feature is “higher” than those who don’t. However, this may be of much help when it comes to “audience segmentation“ because players like that have more value. Moreover, when players use the feature, they spend twice as much time playing games. Normally, the volume of wagers collected when using the aforementioned feature comes up to 85% of the overall volume of wagers on crypto casinos and up to 21% on fiat and crypto ones.
Commenting on the feature, SOFTSWISS Casino Platform Head, Darya Avtukhovich, said: “SOFTSWISS is one of the pioneers in crypto gambling, and we continue to be a forward-thinking company, integrating features like In-Game Currency Conversion into our product. We understand the industry requirements thanks to our expertise and analytical work, and the result is the constant evolution of the SOFTSWISS Casino Platform, which maintains its status as one of the most reliable on the market.”
A chance to show improvements
With Summit Barcelona 2023 just around the corner, it’s an exceptional opportunity for SOFTSWISS to showcase the newest improvements to its Casino Platform. Relatedly, attendees may meet SOFTSWISS representatives at stand CG58, where they will be able to talk about the newest trends in the online gaming industry as well as the latest solutions that will improve the progress of their business.
Source: “SOFTSWISS In-Game Currency Conversion: 85% of Bets in Crypto Casinos Are Made With In-Game Currency Conversion”, European Gaming, September 8, 2023