Cryptocasinos have rapidly become one of the most dynamic forces in the world of iGaming.
According to marketplace intelligence firm Yield Sec, in 2024 alone, wagers paid in digital assets generated an estimated US$81.4 billion (£58.99bn) in gross gaming revenue (GGR), a fivefold increase in just two-years.
Cryptocasinos are largely offshore.
Whilst they are legal to access in major Western markets such as the UK, the U.S. and the EU, they typically operate under foreign licenses from regions such as Curaçao in the Caribbean, Anjouan, an autonomous volcanic island in the Indian Ocean, which is part of the Union of the Comoros, and Malta, now the global hub for crypto gambling operations.
The data highlights a rapid expansion that few traditional sectors of iGaming have matched, and reflects deeper structural changes in how players pay, play, and access iGaming platforms around the world.
Analysts project that the broader crypto casino sector, including betting volume and access to new markets, will grow even further through the rest of the decade.
And they are now considered a direct threat to traditional iGaming platforms.
When considered with concurrent trends in iGaming expansion across Latin America, Southeast Asia and Africa, the explosive expansion of cryptocasinos seems inevitable.
Payments Without Borders
The most obvious reason crypto casinos have exploded are payments. They are near-totally borderless.
Traditional online casinos depend on bank cards and e‑wallets that incur delays, declines and controls that operate under country/regional‑specific legal frameworks.
By contrast, cryptocasinos leverage blockchain rails that deliver near‑instant deposits and withdrawals, with little-to-no ‘intermediary friction’.
In essence, crypto expands market access by circumventing reliance on local payment partners and cross‑border financial clearing.
In emerging markets, where traditional banking systems may be less developed, crypto provides a bridge to the global iGaming nexus, fuelling betting activity that might otherwise have bypassed licensed operators entirely.
Latin America
In LatAm, crypto is sky-rocketing.
Thanks to stablecoin adoption in Argentina, Venezuela, and the region’s very own iGaming giant, Brazil, reports cite year-on-year market growth of approximately 42 percent.
Similar trends are visible in parts of Africa.
Crypto gambling users in South Africa, for example, totalled approximately eight billion monthly users in 2025 – which Business Insider Africa largely attributes to offshore no-KYC platforms.
But with over 75 percent of South African households with internet access and almost total access to at least one mobile phone, accessibility has brought a new demographic of cryptocasino players: Younger, mobile‑first players who value speed, convenience – and global liquidity.
Despite the nation having the largest and most developed banking sectors of any African country, cryptocasinos’ ability to by-pass traditional banking is a huge pull for players and operates in South Africa and the rest of the continent.
In fact, Super Group (owners of Betway and Jackpot City) launched ZAR Supercoin in 2025–a tailor-made stable coin for the African market, pegged 1:1 to the South African Rand–to circumvent high payment processing fees in markets such as Nigeria and Ghana.
Perks of Play
Beyond payments, cryptocasinos have transformed the online experience of gambling.
They freely experiment with hybrid models, including blockchain‑assisted jackpots; DeFi‑linked perks, e.g. in-game assets that work like real world-assets; and token‑based reward systems – digital casino tokens that retain their value even if you do not immediately play with them.
Much of this innovation is yet to enter the mainstream: A direct demonstration of just how much flexibility and rapid iteration cryptocasinos enjoy relative to traditional iGaming platforms.
Many crypto-platforms also promote “provably fair” gaming, utilising cryptographic verification methods that let players audit outcomes independently as a trust signal that traditional random number generation simply can’t provide.
Risks and Responsibilities
But with rapid growth comes scrutiny.
Faster money flows and minimal cooling‑off periods demonstrably accelerate problem gambling behaviour, and the ease of access across borders raises serious questions around responsible gaming safeguards.
A case in Australia made headlines last December, when a player on Australia-based but Curaçaon-licensed platform, Stake, one of the world’s largest cryptocasinos, lost more than US$40,000 (£28,982) in just one week.
But instead of being redirected to get the support he needed by the company, he was made a VIP player, and encouraged to deposit more and more cash.
By the end of the year he had lost almost US$180,000 (£130,420).
Enforcement Gaps
A controversial factor behind the rapid expansion of cryptocasinos is the present regulatory environment.
As previously mentioned, globally-available cryptocasinos are almost exclusively licensed in jurisdictions with relaxed gambling laws, attracting players globally via VPNs and other decentralized access methods.
Whilst operators are increasingly incorporating know‑your‑customer (KYC) checks, anti‑money‑laundering tools and wallet‑based compliance mechanisms, many do not.
For licensed iGaming operators watching from the regulatory sidelines, this simultaneously presents a challenge and an opportunity.
Whilst compliance has costs, regulatory clarity could become a competitive differentiator as the market matures.
Licensed Future
It’s essential that operators, suppliers and regulators in the broader iGaming market understand the drivers behind the rise of cryptocasinos.
Ultimately, crypto-operators, who proactively invest in safer gaming features, from self‑exclusion to real‑time spending alerts, will weather the shift better than those that don’t.
But the truth of the matter: Cryptocasinos are here to stay.
And Western regulators, many of whom continue to treat cryptocasinos with mistrust, must catch up.
Today the digital environment in iGaming is witnessing inexorable change.
Rather than regulatory environments ostracising this type of play, it must be embraced and brought into a fairer, legal context where both players and operators are protected.
