Crypto casinos earned over $81 billion in gross gaming revenue in 2024. This figure marks a dramatic rise since 2022. Players continue to use offshore gambling sites, despite restrictions in major markets like the US, UK, and China.
These sites remain accessible through VPNs, mirror links, and redirected URLs. Companies such as Stake, Roobet, and Rollbit operate in jurisdictions where crypto gambling is legal. These include Curaçao, Gibraltar, and Malta. Many of these platforms now rival traditional gambling firms in size.
Stake alone handled over $4.7 billion in gaming revenue last year and processed a significant portion of Bitcoin transactions globally. YieldSec, an anti-online-crime firm, released the data. The group estimates tens of thousands of crypto casinos operate globally.
Influencers drive traffic to casinos
It reports that players deposit far more on crypto platforms than on regulated sites. The lack of strict controls allows easy access, even for underage users. Users can create accounts without full identity checks and begin gambling immediately.
Legal enforcement remains weak. Offshore platforms do not follow local laws in restricted countries, but authorities often fail to act. Lawyers and analysts say operators and regulators overlook these activities.
Enforcement is especially hard with cross-border advertising, where platforms claim the content is not directed at restricted audiences. Campaigners express concern about the impact on vulnerable users.
They say easy access and lack of spending limits increase risk. The use of crypto, with its price swings, adds to the dangers. Some former gamblers describe a cycle of losses and wins tied to market movements. Promotions by influencers and online creators help drive traffic.
Crypto gambling’s rapid growth
These individuals share step-by-step guides on avoiding location blocks. They also offer codes, bonuses, and free spins. Crypto casinos spend heavily on online marketing, including sports sponsorships. Brands have appeared on Premier League kits and other platforms.
Some UK-facing platforms operate through white-label licenses. These licenses allow them to function with little direct oversight. The UK Gambling Commission has begun reviewing such arrangements. It contacted football clubs linked with unlicensed sponsors and warned of potential legal issues.
The industry continues to grow fast, despite its legal grey zone. Many users say they turn to crypto gambling due to limited options in their own countries. Without strong global regulation, crypto casinos remain a rising force in online betting.
