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Illegal crypto casinos rake in $81.4 bln in revenues in 2024 — FT

According to the platform’s analysis, tens of thousands of crypto casinos are currently operating worldwide, serving millions of users

LONDON, April 21. /TASS/. Revenues from illegal online cryptocurrency casinos reached $81.4 billion in 2024.

This amount, representing the difference between accepted bets and payouts, has grown fivefold over the last three years, The Financial Times (FT) reported, citing the online crime-fighting platform Yield Sec.

According to the platform’s analysis, tens of thousands of crypto casinos are currently operating worldwide, serving millions of users. The group estimated that average deposits are roughly ten times higher than those at regulated platforms.

Cryptocurrency-based betting is illegal, and gambling websites are banned in jurisdictions ranging from the US and China to the EU and the United Kingdom. Nevertheless, players may still access them through deceptive methods found online.