“For 2024, cryptocasino turnover reached $ 81.4 billion, which exceeds 2022 by the age of 2022. Such data was provided by the Yield Sec analytical platform. The work of such services is forbidden in regions such as the US, China, the EU and the United Kingdom. However, players are massively bypassing VPN, mirrors or referenced links, Financial Times writes. Accounts are also sold on P2P market. The rapid growth of cryptocasino is explained by the lack of strict regulation, […]”, – WRITE: Businessua.com.ua
For 2024, cryptocasino turnover reached $ 81.4 billion, which exceeds 2022 by the age of 2022. Such data was provided by the Yield Sec analytical platform.
Work of similar services It is forbidden in regions like the US, China, the EU and the United Kingdom. However, players are massively bypassing VPN, mirrors or referenced links, Financial Times writes. Accounts are also sold on P2P market.
The rapid growth of cryptocasino is explained by the lack of strict regulation, the publication noted. Plates like Stake, Rollbit and Roobet can be compared to scale with the largest traditional bookmakers.
The Stake operator, registered with Kurasao, states that up to 4% of all Bitcoin transactions on its platform is processed on its platform, and last year’s profit was $ 4.7 billion – 80% more than in 2022.
The company claims that its transactions fully meet the regulatory requirements and the user -intended data are checked using Kyc-Procedure.
FT investigation However, Financial Times journalists were able to register a platform account from the United Kingdom using VPN without confirming address and financial information.
Experts believe that cryptozino is popular due to the lack of strict limits on rates, personality checks and other restrictions. Often, they attract minors and people with game addiction, as well as users from countries with a rigid ban on gambling.
The platforms are actively investing in marketing, cooperating with influentors and sports brands. For example, Stake sponsored the Everton football club, Roobet collaborates with Chelsea, and Rollbit with Lester City.
Legal uncertainty and lack of international control mechanisms allow operators to continue working in partial shade. British and US laws forbid locals to use the services of such platforms, but there are no direct action against players.
Experts and public activists have called for strengthening regulation, including forbidding use White Label Licenses that allow cryptocasino to enter the markets with minimal checks.
According to Yield SEC, there are tens of thousands of platforms that serve tens of millions of users. The size of the average deposit on them exceeds the indicators of regulated sites by 10 times.
Recall that in July 2024, the former head of Galaxy Interactive, a venture unit of the company of the same name, Mike Novograts, lost investors ($ 3.67 million from the total $ 7 million), raised by Zero Edge cryptozino.
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