According to the new data, Crypto Gambling has grown rapidly to $ 81.4 billion last year, despite illegal in most regions.
Crypto Casinos said that 2024 bets recorded more than $ 81.4 billion in total game sales, according to the YieldSec data reported by Financial Times.
In many countries, encryption gambling websites are illegal, but they can still be accessible through VPN and other solutions. Encryption casinos, such as Stake, Rollbit, and Roobet, are operated in legitimate jurisdiction areas such as Curaçao and Malta. Steak alone accounted for up to 4%of all Bitcoin (BTC) transactions, and since its launch in 2017, 25 million users have bet 300 billion.
In a commentary on the Financial Times, Stake’s spokesman pointed out that the operation of the platform is “fully complying with the laws and regulations, legally and completely licensed.”
Since April 2024, the British Gambling Committee has sent more than 280 truce notices to providers who accept and promote encryption by the UK deposit method.
The gray area of Crypto Casinos has been expanded beyond the UK in mid -April, and NEWS reported that Richard Kim, a former Wall Street executive, was accused of being cheated over $ 4 million in a blockchain -based casino project.
Kim, who had previously worked at Goldman Sachs and JPMORGAN, started the company in March 2024 and marketed as a encryption driving casino characterized by chain games. The prosecution argues that even though it raised $ 4.3 million through seed finance and token sales, KIM has shifted funds for personal purposes. KIM is faced with federal charges in accordance with the Fraud and Securities Law, and this case is still under investigation.