Global crypto gambling revenue soars fivefold to $81.4 billion since 2022
Global gross gambling revenue (GGR) from crypto gambling has skyrocketed in recent years, growing fivefold from 2022 to reach an estimated $81.4 billion in 2024, according to data from risk intelligence firm Yield Sec.
The surge has been driven by tens of thousands of unregulated crypto gambling platforms, which operate freely across borders. Yield Sec highlights that average player deposits on these sites are up to 10 times higher than those made on licensed, regulated platforms.
One of the biggest players in the space, Stake, reported a GGR of $4.7 billion in 2023 — an 80% increase from the previous year. The company even claims to account for as much as 4% of all Bitcoin transaction volume worldwide.
Despite the boom, crypto gambling remains illegal in most jurisdictions, including the UK, where regulators issued 287 warnings in 2023 regarding the use of cryptocurrencies in gambling promotions. However, enforcement remains weak, with platforms still accessible via VPNs even in countries like the U.S. and China.
This lack of effective regulation has allowed crypto gambling to emerge as a serious rival to traditional online gambling, reshaping the global industry in the process.
