Interview with Ivan Montik, CEO of SoftSwiss

Please, tell our readers a little about yourself and SoftSwiss.

SoftSwiss has been delivering top-quality online casino platform, games and white label solution since 2013. We are pioneers in Bitcoin gaming and supporters of the cryptocurrency technologies. I’ve been leading the company from its very first days and my primary goal has always been delivering top quality in whatever product and service we are offering to the customers. With my team, we are constantly working on this goal and today, the name SoftSwiss is associated with trustful and secure gaming.

You started back in 2008 by developing custom software for various companies, and auction platforms. What helped SoftSwiss find its true mission?

We were inspired by the success of another gaming company with the development office in Belarus, Viaden Media, which was among top 10 names in the online casino industry by 2010. We were at that time focused on online auctions but I happened to meet some talented developers and designers specializing in online gaming, so we realized that with their knowledge of the industry and our technical background, we can deliver even a better product. Besides, Bitcoin started gaining its popularity and since we were deeply involved in the investigation of this technology, we realized that an online casino platform could become a perfect field for experimenting with cryptocurrencies. That’s how we came to online gaming.

Do auctions and online casinos share any common traits?

Auctions are not only about purchasing but also about gambling. They have their part of risk, especially some types like penny auction. So the target audience is actually very similar to that of an online casino. In terms of technical implementation, our experience in online auctions was very helpful as we knew how to deal with high loads and lots of simultaneous bets.

SoftSwiss is currently one of the leading online casino software brands. What makes your company so attractive for the clients?

Reason number one is our technical infrastructure which is reliable, stable and flexible in terms of marketing possibilities. Number two is our one-stop service. We offer a turnkey solution which embraces not only the platform and games, but a complete financial and legal infrastructure, so it’s easy to start business with SoftSwiss. Number three is that we know how to work with cryptocurrencies.
Working with bitcoin from the very beginning allowed us achieving high safety by implementing the most advanced anti-fraud features, and operators know that with us they are safe. Final reason number four is our client service. We speak and listen to our clients, we are flexible, and we care about their business. After speaking to other companies, many clients are surprised to get the service of such level at SoftSwiss.

Is SoftSwiss planning to expand and provide any new services or products, or are you focused on bringing current solutions to perfection ?

We are doing both. We are always improving our current products, expanding the functionality and adding new exciting features. This year, we are also working on bringing our game development studio to a new level. This will result in more rapid releases of top-notch games and making them more competitive. Besides that, we have brought our affiliate system to perfection and it is ready to be offered as a separate product.

The global online gambling industry is growing rapidly. Do you believe that one day, online casinos will completely overtake offline casinos?

Online casinos are already making a large share of all gaming business according to the official reports of many countries, that’s why the governments are reconsidering their approach to online gaming to make it legal. They are creating legislation that would regulate this sphere, so that the state budgets can actually benefit from this vast industry. I believe that this trend will strengthen in the future and online gaming will leave land-based casinos behind.

How long does it take to open an online casino from scratch?

It takes from 1 to 3 months depending on design, number of game providers and currencies that the casino will support.

How do you see the future of online cryptocurrency casinos? What new, exciting trends are there to expect?

Cryptocurrency casinos will very likely make the biggest part of online gaming business in the near future. Provably fair blockchain games can become a trend. With the development of blockchain technologies, the game will be transparent and wins will be transferred instantly.

What role does Bitcoin play in online gambling?

Bitcoin is an ideal digital casino chip, equal to cash. Bitcoin and online gaming are a perfect match. No other business can profit that much from the advantages that Bitcoin offers: speedy transactions, provability, transparency, privacy. It means convenience for both, players and operators. So the role of Bitcoin in the development of online casino business is huge.

Does SoftSwiss work with any Ethereum casinos? Are your Bitcoin accepting clients likely to add altcoins as they are gaining popularity?

We are planning to launch Etherium games, it’s one of the goals for 2017. Our clients are getting ready for this launch and making great plans. Besides that, some of the casinos on our platform have been working with litecoins and dogecoins for several years now.

Should online casino players who gamble with Bitcoin expect any difficulties after August 1st?

The consequences of the current problem are quite evident: long confirmation delays and high transaction fees. So the necessity of upgrading bitcoin blockchain is inevitable, the question is just how you do it to minimize the risks. I believe that bitcoin community will find a consensus to avoid any potential problems, but I still recommend to the casino players and other Bitcoin users to follow the news and have up-to-date information on what will be happening in August.

What are your favorite activities outside of work?

For me, the best way to relax and be fit is Russian sauna. Spending a couple of hours their and chatting with friends about life and business afterwards keeps me sane, clears my mind and gives a reload.

Last month, you have taken part in Blockchain Expo Europe 2017 in Berlin. Tell us about your experience.

It was rather a local event, probably not as big as I expected, but I could still meet some interesting companies there and exchange experience with them. I find such type of events very useful in terms of networking and information sharing, so I attend as many as I can.

Do you see Bitcoin as virtual money, or do you agree with experts claiming that it’s rather a digital asset than a currency?

Comparing Bitcoin to the digital money is not fully correct, because the nature of money and the nature of Bitcoin are different. A digital asset is a much a closer definition. I can even call Bitcoin perfect digital gold.

It is still unknown which decision SEC is going to make regarding Winklevoss Bitcoin ETF. Do you believe that Bitcoin ETF will be approved this time?

Since it’s their second try, they must have improved the project, so the chances to get it approved this time are high. If it is approved, it won’t influence the development of Bitcoin technology, but it can for sure affect the exchange rate.

SEC has lately rejected two Bitcoin exchange-traded funds. What keeps the U.S. government from allowing the investors to add Bitcoin to their investment portfolio?

The key factors are lack of understanding of Bitcoin technology and absence of proper legislation. Governments consist of people, and the fact is that most people today still fail to have a clear vision of the nature of Bitcoin and how it all works. The resistance to accept something new and different is always strong. So it is basically about avoiding potential risks by sacrificing evident benefits.

Bitcoin has recently lost some of its market share. Are Ethereum with its smart contracts or any other altcoins likely to eventually leave Bitcoin behind?

I was a bit surprised by the active growth of Etherium and I think that it has good chances to be a runner-up with Bitcoin still taking the leading position. The fact that BTC is a free system while Etherium is “private” makes me think that BTC will leave it behind.

If Bitcoin goes global, how is it going to affect the least developed countries where people don’t even have internet access?

Bitcoin is more popular in the developing countries than you might expect. For many individuals and business owners in such countries fiat currency transactions pose a significant difficulty. Bank transfers are slow and expensive, exchange rates are not in their favor, and people are missing on the possibility to send money to their business partners or relatives in other parts of the world. With the emergence of cryptocurrencies, sending BTC to and from the developing countries has become much easier. Some of the cryptocurrency banks and exchanges have already experienced the rapid growth of the number of users from African and Asian countries.

How do you like our website? Is there anything you personally would like to see on

I like the way your website is structured and the way it displays unbiased and truthful information. I think that readers will appreciate more info on the trends and processes happening in the Bitcoin community, not necessarily related to the casino, so that they stay tuned and have the up-to-date picture of the cryptocurrency world.
Thank you so much Ivan for doing this. We wish you and SoftSwiss lots of success and new exciting projects.

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