Despite the global bans: Crypto casinos implemented over $ 81 billion in 2024

Crypto casinos had more than $ 81 billion sales in 2024, even after many legislators had blocked the platforms in important jurisdictions. According to the data from Yield Sec, about which the Financial Times reportedthese actors achieved a huge “profit”.

Because this number refers to the difference between the capital and the profit paid.

Crypto casinos are popular

The figures from Yield Sec shows that crypto casinos are quite popular. Compared to 2022, the annual sales of these clubs have quintupled, although the websites in the United States, China, the United Kingdom and the European Union are blocked.

In 2024, a “profit” of $ 4.7 billion was booked for the popular Stake gambling platform. This marks an increase of 80% since 2022. Stake is thus at the same height with larger gaming platforms such as entain and flutter.

For example, Entain reported $ 5 billion, while flutter was $ 14 billion.

At Stake it is possible to play traditional casino games such as blackjack, roulette and slot machines. It is also possible to bet on sports events on the platform with crypto, whereby the payments are also carried out in crypto.

Crypto-casino hacked

Stake was chopped in 2023, and $ 41 million was to steal capital from the wallets of the crypto casino.

It turned out that it was about Ethereum and BNB Chain Wallets. And the hack was carried out by how could it be otherwise, the North Korean Lazarus Group. This group is responsible for a relatively large part of the hacks of somewhat more serious extent.

Although such parties are officially prohibited in many jurisdictions, users know how to circumvent these restrictions by using VPNs. This allows people to pretend they are active from another country and still play on the platforms.