Yigit Taha OZTURK 
Crypto casinos saw record growth in 2024, generating $81.4 billion in gross gaming revenue (GGR), according to Yield Sec data cited by the Financial Times. This marks a 5x increase since 2022, even though such platforms are blocked in the US, China, UK, and the EU.
Stake’s $4.7B Revenue Competes with Industry Giants
Crypto betting giant Stake reported a GGR of $4.7 billion in 2024 — up 80% since 2022.
This rivals traditional gambling companies:
- Entain: $5B
- Flutter: $14B
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Stake offers casino games and sports betting, with all transactions handled through crypto wallets.
Stake Lost $41M in 2023 Hack
On September 4, 2023, suspicious withdrawals from Stake’s Ethereum and BNB Chain wallets were flagged. The FBI later confirmed that the North Korean Lazarus group was responsible for the $41 million hack.
VPNs Help Users Bypass Bans
Despite bans, users still access crypto casinos using VPNs.
- Some influencers post tutorials on how to access geo-blocked gambling sites.
- Verified “ready-to-gamble” accounts are sold on platforms like Facebook for as little as $10.
These accounts come pre-verified, allowing users to skip platform registration.
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