Last year, cryptocurrency gambling raked in an astonishing $81.4 billion in casino gross revenue, despite regulatory restrictions: the findings.
Ultra-popular crypto casinos are reportedly raking in the dough from gamblers, earning a whopping $81.4 billion in revenue last year, despite regulatory bans worldwide. That's a massive five times more than what they made in 2022!
According to the Financial Times, gamblers are cleverly bypassing restrictions in their home countries by using VPNs, mirror links, or URL redirection, hopping onto unregulated offshore platforms.
Crypto gambling sites like Stake, Rollbit, and Roobet operate primarily from countries where crypto gambling is legal, such as Curacao, Malta, Isle of Man, and Gibraltar. Despite being blocked in many nations, including the US, China, EU, and UK, people find ways to join these casinos and start playing.
Despite the casino boom, Stake, the market leader led by Medium Rare, claims it operates within the law and follows strict KYC procedures and anti-money-laundering practices. However, The Financial Times was able to create a Stake account from London using a VPN without providing proof of address upfront.
Crypto gaming sites cater to millions of users across tens of thousands of platforms worldwide. The Financial Times and Yield Sec, an anti-online-crime platform, estimate the number of crypto casinos at tens of thousands, serving tens of millions of users.
Players benefit from easy cryptocurrency transactions and fiat currency support. While the UK Gambling Commission continues to issue cease-and-desist notices, the operators simply move to locations with lenient regulatory frameworks, taking advantage of conflicting international laws and the crypto market's fragmented nature.
Sources:
- Financial Times - https://www.ft.com/content/fe49352e-83ce-4754-8a43-1e9544ac5b52
- Yield Sec - https://www.theverge.com/2025/3/10/cryptocasinos
- Blockchain News - https://blockchainnews.co/news/gambling-crypto-casinos-huge-profit
- Cointelegraph - https://cointelegraph.com/news/crypto-gambling-continues-to-glow-as-crypto-casinos-rake-in-81-billion
- Decrypt - https://decryptmedia.com/61525/crypto-gambling-blooming-surprise-81-billion-last-year
- The crypto casinos, such as those like Stake, Rollbit, and Roobet, are flourishing, earning a staggering $81.4 billion in revenue last year, despite regulatory bans in numerous countries like the US, EU, UK, and China.
- Gamblers bypass restrictions in their home countries using various methods, including VPNs, mirror links, or URL redirection, to access these unregulated offshore platforms.
- The number of crypto casinos is estimated to be in the tens of thousands, serving tens of millions of users across tens of thousands of platforms worldwide.
- Despite claims of adhering to strict KYC procedures and anti-money-laundering practices, some crypto gaming sites, like Stake, have been found to allow users to create accounts without providing proof of address upfront.
