{"id":127609,"date":"2025-04-21T12:19:34","date_gmt":"2025-04-21T12:19:34","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=127609"},"modified":"2025-04-21T12:19:34","modified_gmt":"2025-04-21T12:19:34","slug":"crypto-casino-revenue-hit-81b-in-2024-despite-global-restrictions","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=127609","title":{"rendered":"Crypto casino revenue hit $81B in 2024 despite global restrictions"},"content":{"rendered":"

Source: Cointelegraph.com NewsCrypto casinos generated more than $81 billion in revenue in 2024, even as regulators in key jurisdictions continued to block access to the platforms, according to a new report.
\nCiting data from the anti-online-crime platform Yield Sec, the Financial Times reported that wagers paid in crypto in 2024 generated $81.4 billion in gross gaming revenue (GGR). This metric refers to the difference between bets taken and winnings paid out.\u00a0\u00a0
\nYield Sec data also showed that the annual revenue for crypto casinos has increased five times since 2022, despite gambling sites being blocked in the United States, China, the United Kingdom and the European Union.\u00a0
\nCrypto casino Stake rivals traditional betting platforms
\nBetting platform Stake reported that its GGR in 2024 was around $4.7 billion, up 80% since 2022. This puts it on a par with some of the biggest gambling groups, such as Entain and Flutter. Entain reported $5 billion, while Flutter reported $14 billion in revenue in 2024.\u00a0
\nStake offers traditional casino games, including blackjack, roulette and slots. The platform also allows users to bet on sports. Users on the betting platform generally transact in crypto, with account balances being deposited and withdrawn directly into crypto wallets.\u00a0
\nIn 2023, the crypto betting platform was hacked, with $41 million withdrawn from its wallets. On Sept. 4, 2023, security firms flagged suspicious outflows from the platform. The company then confirmed the hack through social media, saying there were unauthorized transactions from its Ethereum and BNB Chain hot wallets.\u00a0
\nOn Sept. 7, 2023, the US Federal Bureau of Investigation said the $41 million hack was executed by the notorious North Korean hacking group Lazarus.\u00a0
\nRelated: XRP ETF \u2018obvious\u2019 as Polymarket bettors up approval odds to 85%
\nGamblers access illegal sites through VPNs
\nEven though crypto gambling sites are officially blocked in many jurisdictions, users can access them by bypassing geo-blocking restrictions with VPNs, which allows users to place bets on sites blocked in their country.\u00a0
\nFormer players and crypto users told the FT that many online guides show people how to bypass geo-blocking restrictions to access a crypto gambling platform. Cointelegraph confirmed that some influencers offer online tutorials that teach people how to access blocked gambling sites.\u00a0
\n\u201cReady-to-gamble\u201d crypto casino accounts are also reportedly being sold on social media platforms, according to Sanya Burgess, journalist at The i Paper.
\nSource: Sanya BurgessUsers sell accounts that have already passed through betting sites\u2019 registration processes. On Jan. 31, Sky News reported that some users sell pre-verified crypto casino accounts for as little as $10. These ready-to-gamble accounts are reportedly sold on social media sites like Facebook.
\nMagazine: Your AI \u2018digital twin\u2019 can take meetings and comfort your loved onesRead More<\/a><\/p>","protected":false},"excerpt":{"rendered":"

Source: Cointelegraph.com NewsCrypto casinos generated more than $81 billion in revenue in 2024, even as regulators in key jurisdictions continued to block access to the platforms, according to a new… <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/127609"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=127609"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/127609\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=127609"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=127609"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=127609"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}