Bitcoin Gambing Guide: When was the company started?
SoftSwiss: SoftSwiss was started as a custom software development company back in 2008. One year later, we released our first own product—online auction software. As for the online casino platform, we presented it at ICE Totally Gaming in London in 2013. A bit later the same year, we started working on the integration of Bitcoin as a payment solution into our product and now online Bitcoin casino is an integral part of our offering.
BitcoinGG: How many people work at SoftSwiss?
SS: Started as a small group of young and talented software engineers, the team has grown to more than 50 specialists, including developers, designers, sales and marketing managers, economists and support managers. Our product is constantly growing and the number of clients is increasing, and so is the team.
BitcoinGG: How many casinos that use your software platform are present on the market today?
SS: The number of casinos operating today counts to 30. These include fiat money and cryptocurrency casinos.
BitcoinGG: Are they your casinos? Do you run them yourself as an operator?
SS: This is a very good question because I think we sometimes miss clarity here. The fact is that SoftSwiss is not an operator and it doesn’t own or run any of the online casinos which you see on the market today. We are a pure B2B product and service provider. So, when you hear “SoftSwiss casino”, it means that the casino is running with software developed by our company and might be using our infrastructure (White Label brands). But this is not a casino operated by SoftSwiss.
BitcoinGG: If you are a B2B provider, what are your main products/ services and who are your clients?
SS: SoftSwiss provides an online casino platform and casino games (40+ games by SoftSwiss and games from 15 other game providers) to businesses operating in the iGaming sphere. These are new online casinos which are just entering the market, as well experienced market players.
Besides the platform and games, we also support our clients in terms of building legal and financial framework, because to operate a casino you need much more than just software and games. You need the whole infrastructure, and our White Label solution is about making the complete infrastructure ready for our clients, from providing an iGaming license to payment processing to player live chat support.
BitcoinGG: Do you have any licenses or certificates to support your reputation and help you work in the strictly-regulated market of online gaming?
SS: In terms of the software, it is certified by Itech Labs and BMM Testlabs (BMM is the longest established independent laboratory for testing and certification in the iGaming industry). These labs test RNG algorithm and implementation, slot math, table game math and rules to see if they comply with the industry standards and that everything is fair for the players.
In terms of iGaming jurisdiction, we hold a Curacao iGaming license, so casino brands operating under SoftSwiss White Label also work with this license. It is sufficient for operation on the international market, but there are some countries with internal regulation of online gaming and we want to cover those, too.
For instance, UK is a huge market and we are planning to obtain a UK remote license to open the market to our clients. We also consider getting a Maltese license and a Romanian license because we are working with a large online casino in this country. BMM certificate was a requirement of the Romanian iGaming Commission, so now the procedure should be simple.
BitcoinGG: SoftSwiss is known as a pioneer in the Bitcoin online gaming. What revenue share is generated by Bitcoin casinos monthly and what is the growth of Bitcoin play?
SS: The revenue share is significant–about 57 percent of all revenue on brands working on our software is in Bitcoin and this is a number with seven digits. The growth is making us confident in Bitcoin gaming future. The trend in our network is faster if we compare fiat to Bitcoin wagering. If two years ago, Bitcoin gamblers were mostly Bitcoin-early adopters and developers, now time has changed and players realized that Bitcoin is the perfect online casino chip.
BitcoinGG: What is the average volume of player winnings paid out monthly in Bitcoin casinos powered by SoftSwiss?
SS: In November 2016, our brands paid to players more than €2.8 million and out of that more than 1.6 million BTC. These numbers show that player winnings are really serious and any of your readers can be lucky winner if they play at brands powered by SoftSwiss.
BitcoinGG: How do you see the future of bitcoins and online gambling?
SS: We see all of the recent positive trends happening in Bitcoin: The UK Gambling Commission gave green light on Bitcoin payments to casinos holding their licensees, and the world leading game providers have realized that it is time to adapt their software and games to cryptocurrency play. If the general tendency remains and Bitcoin exchange rate continues its sustainable growth, people will be investing into it just like in gold. So, the number of Bitcoin casinos will definitely be growing, too.
I strongly believe that the future of online gambling is Bitcoin. They are a perfect match: play at an online casino should be fast and Bitcoin allows for instant deposits and payouts; many players seek privacy and Bitcoin casinos provide it to a higher level than fiat-money gaming sites; players want to be sure that a casino is not cheating on them and provably fair technology in Bitcoin casinos provides this 100-percent security.
BitcoinGG: Have you added any new features to your product recently that will make play at casinos powered by SoftSwiss even more exciting?
SS: The end of 2016 is rich on new features. First of all, casinos powered by SoftSwiss now have tournaments, so players can compete with each other and lucky winners get various rewards. Secondly, casinos offer a new opportunity to accumulate comp points—the points which are awarded to players as they make bets depending on the amount wagered. Redeemable points can be exchanged for real money, bonuses or free spins, and status points are accumulated on player accounts and define their statuses.
Finally, we enhanced our games with Free Spins. Casinos are giving those to players as a bonus, e.g. a new player is awarded a certain number of free spins in a particular slot (or several slots) and all of the money he wins during these free spins remains to the player!
BitcoinGG: What are the plans for 2017?
SS: In terms of company and legal infrastructure: obtaining UK and Malta gaming license and open an office in Malta and/or UK.
In terms of software: enhancing our platform with new features, because there is always scope for improvement.
In terms of game content: adding a couple of really serious providers to increase the pool of games with 1000+ more varieties.
In terms of the games made by SoftSwiss: creating new top-quality games with innovative plots and design and promoting them under a separate brand.
BitcoinGG: What is your opinion on Bitcoin Gambling Guide?
SS: I always welcome resources which provide unbiased and truthful information to users. Bitcoin Gambling Guide is #1 at providing plenty of information to help players make clever decisions and enjoy healthy gambling. The fact that many casinos powered by SoftSwiss are listed in BGG makes me proud.