Yield Sec: GGR of Crypto Casinos in 2024 Reached $81.4b

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By Valentin Darechkin - 27 Apr, 2025 More about the author

Yield Sec: GGR of Crypto Casinos in 2024 Reached $81.4bn. This figure has increased fivefold since 2022.

According to Yield Sec’s founder, Ismail Vali, the behavior and habits of the target audience have changed significantly. Just a few years ago, players were skeptical of crypto platforms and far from using cryptocurrencies in general, but now this is no longer a problem.

According to the company’s data, the average deposit in a crypto casino is approximately 10 times higher than in a traditional fiat casino, especially compared to those operating under a local license.

What is a Crypto Casino?

A crypto casino is an online casino where cryptocurrencies, rather than traditional fiat currencies, are used for placing bets and receiving winnings. These platforms allow players to use digital currencies like Bitcoin, Ethereum, and others for gambling, offering a new and attractive way to participate in gaming.

Difference Between Traditional and Crypto Casinos
One of the main differences between traditional casinos and crypto casinos is the currency used for betting. Traditional casinos operate with fiat currencies — such as dollars, euros, and other national currencies — while crypto casinos focus on using cryptocurrencies. This not only simplifies the betting and payout processes but also opens up many new opportunities for players.

In traditional casinos, players are often required to go through a verification process (KYC — “Know Your Customer”) to confirm their identity, which involves providing personal information. In crypto casinos, all transactions occur via blockchain, which reduces the level of interference with personal data and ensures anonymity. This makes crypto casinos attractive to those who value privacy and data security.

Advantages of Crypto Casinos

Anonymity and Security: One of the main benefits of crypto casinos is the possibility of anonymous transactions. Registration and operations on the platform do not require entering personal information, and all transfers are recorded on the blockchain, ensuring a high level of security and transparency.
Global Accessibility: Cryptocurrencies are not tied to national borders or currencies, allowing players from all over the world to participate without facing the restrictions and difficulties typical of traditional casinos.
Transaction Speed: Unlike traditional casinos, where withdrawals may take several days, crypto casinos allow for instant deposits and withdrawals thanks to blockchain technology. This significantly improves the player experience, as there’s no waiting time.
No Intermediaries: Crypto casinos operate without intermediaries such as banks or payment systems, which reduces costs and fees while also speeding up the entire process.
Innovations and New Technologies: Crypto casinos actively implement cutting-edge technologies, such as smart contracts and other elements of decentralized financial systems (DeFi), which open up new opportunities for players, including automatic payouts and additional security guarantees.

Growth Trends of Crypto Casinos in 2024

In 2024, the crypto casino market continues to show impressive growth. According to Yield Sec, the Gross Gaming Revenue (GGR) of crypto casinos reached $81.4 billion, five times higher than in 2022. This sharp increase highlights how quickly crypto platforms are evolving and how player preferences are changing.

How Are Crypto Casinos Gaining Popularity?

One of the main reasons for such rapid growth is the changing attitude of players toward cryptocurrencies and crypto casinos. A few years ago, many were wary and skeptical about using digital currencies in gambling, but today, the situation has changed. The growth in trust toward cryptocurrencies, improved understanding of blockchain technologies, and increased security of crypto platforms have all played a significant role in this process.

Today’s players increasingly view crypto casinos as a reliable and secure alternative to traditional casinos. Moreover, cryptocurrencies enable much faster processes, such as deposits, withdrawals, and gaming transactions, which further boosts the attractiveness of these platforms.

Increase in Average Deposit

Another important feature of crypto casinos is that the average deposit in these casinos is 10 times higher than in traditional fiat casinos. This figure reflects the changing behavior of players, who are increasingly making larger bets on crypto platforms. High deposits may be linked to several factors, including improved financial literacy among users, increased earnings in the crypto space, and the overall attractiveness of cryptocurrencies as an investment tool.

Additionally, players who use cryptocurrencies for betting are often willing to invest larger amounts, understanding the advantages of cryptocurrencies — such as high liquidity and the ability to quickly convert funds into fiat currency when needed.

Future Forecasts

Given the current growth rates, it is expected that crypto casinos will continue to expand in 2024 and beyond. The crypto gambling market is predicted to attract more and more new players, which will lead to improvements in platform quality, the introduction of new technologies, and the addition of innovative features such as gaming tokens, NFTs, and other blockchain solutions.

Each year, crypto casinos are becoming an increasingly attractive choice for both beginners and experienced players. In the next section, we will take a closer look at how crypto casinos compare to traditional fiat platforms and why cryptocurrencies are becoming an increasingly popular choice for gambling.

Challenges and Issues Facing Crypto Casinos

Despite all their advantages, crypto casinos face a number of serious problems and challenges that may hinder their further development and spread. These challenges involve both regulatory issues and technical aspects of platform operations. In this section, we will look at the key problems faced by crypto casinos and potential solutions.

1. Regulation of Crypto Casinos in Different Countries

One of the main obstacles to the development of crypto casinos is the lack of clear and unified regulatory standards in different countries. Despite the growth in the popularity of cryptocurrencies, many countries have yet to develop legally established rules to regulate the operation of crypto casinos.

In some countries, crypto casinos may be completely banned or subjected to strict regulation. For example, in China and India, where cryptocurrency operations remain uncertain, the laws regarding crypto gambling can be extremely harsh. In such countries, companies operating in the crypto casino space may face blockages, fines, and other legal consequences.

On the other hand, several countries, such as Malta, Curacao, and Gibraltar, have already developed special licenses and rules for crypto casinos, which allow operators to work legally and confidently. However, in most countries, there are no clear and unambiguous regulations for crypto casinos, leading to legal uncertainty and making investments in this area risky.

Possible Solutions:
To address the regulation issue, new laws need to be adopted that consider the specifics of cryptocurrencies and blockchain technologies. This would provide legal stability for crypto casinos and reduce risks for both players and operators. Additionally, some countries might consider creating special regulatory bodies to oversee crypto gambling.

2. Problems with Cryptocurrency Transactions and Possible Solutions

While cryptocurrency transactions have a number of advantages, such as speed and low fees, they also come with several problems that can create difficulties for users of crypto casinos.

Price Volatility
One of the most noticeable risks is the high volatility of cryptocurrencies. The prices of Bitcoin and other popular cryptocurrencies can fluctuate significantly in short periods of time. This can affect the deposit or winnings of a player, making their earnings unstable and unpredictable.
Mobility and Accessibility of Cryptocurrencies
For some users, cryptocurrencies can be complicated to use. Not all players have the necessary knowledge about how to securely store and exchange cryptocurrencies. This is especially important for newcomers to crypto gambling, who may encounter difficulties when making deposits or withdrawals.
Transaction Problems
Not all crypto casinos take sufficient measures to protect users from potential mistakes in transfers. For example, transactions may be incorrectly directed or blocked due to the lack of network confirmations. In such cases, users may lose money if the platform does not provide adequate support for resolving such issues.
Possible Solutions:
To solve the volatility problem, crypto casinos could offer players the option to choose stable cryptocurrencies, such as Tether (USDT), which are pegged to fiat currencies and are not subject to such strong fluctuations. Platforms could also offer hedging mechanisms or the ability to convert cryptocurrencies to fiat currency at the time of withdrawal, which would reduce risks for players.
To increase accessibility and ease of use of cryptocurrencies, many crypto casinos are starting to provide detailed instructions on how to use cryptocurrencies and assistance in exchanging them. This helps newcomers adapt quickly and start playing comfortably.

3. Reputational Risks and Ways to Minimize Them

The inability to guarantee 100% fairness and transparency in games at crypto casinos creates significant reputational risks. Unlike traditional fiat casinos, crypto casinos cannot always offer players confidence that their bets and winnings are processed fairly.

Furthermore, crypto casinos are at risk of fraud, as decentralized and anonymous platforms may attract dishonest operators. Unlicensed platforms may use various schemes to deceive users, such as manipulating random number generator (RNG) algorithms or organizing fake games.

Possible Solutions:
To minimize reputational risks, crypto casinos should use independent auditing companies to verify the fairness of games and the transparency of platform operations. Moreover, to increase trust, technologies such as smart contracts, which automatically execute upon meeting certain conditions, should be implemented to eliminate the human factor.

Crypto casinos could also invest in licensing and compliance with international standards, such as licenses from major jurisdictions like Malta, Curacao, or the UK. This would not only improve the platform’s reputation but also create confidence among players that the casino operates within the law and adheres to security standards.

The Future of Crypto Casinos: What Lies Ahead?

The future of crypto casinos looks very promising, and the cryptocurrency-based gambling industry continues to develop at an impressive pace. Forecasts for crypto casinos over the next 5-10 years show continued growth, with the possibility of new technologies being introduced and new opportunities emerging for both players and operators.

Forecasts for Crypto Casinos in the Next 5-10 Years

In the coming years, the crypto casino market is likely to continue expanding. More players are expected to turn to cryptocurrencies as a payment method, and crypto casinos will become a convenient platform for online gambling. The gradual adoption of cryptocurrencies by a broader population, improvements in blockchain infrastructure, and increased trust in digital assets will contribute to the integration of crypto casinos into the global gambling landscape.

It is also expected that the range of cryptocurrencies offered will expand. In 5-10 years, crypto casinos will integrate more stable and popular digital assets, and new tokens specifically created for gambling might emerge.

Opportunities for Integration with Other Emerging Technologies

One of the exciting directions for crypto casinos will be the integration with new technological trends, such as Virtual Reality (VR) and Augmented Reality (AR). Virtual casinos built on VR technology are already starting to appear, and in the future, they could become the main format for online gambling. In such a casino, players would be able to immerse themselves in real gaming scenarios, interact with other participants, and feel the atmosphere of a real casino without leaving their homes.

Moreover, crypto casinos may begin using blockchain to create gaming tokens or even NFTs (Non-Fungible Tokens), which could be used as unique gaming items or collectible assets. This would open new opportunities for players, allowing them not only to earn money but also to collect valuable assets that might increase in value over time.

Possible Changes in Legislation and Its Impact on the Industry

In the coming years, with the development of cryptocurrencies and blockchain technologies, it is expected that many countries’ legislative bodies will begin to actively regulate crypto casinos. Many jurisdictions are already considering the implementation of new laws regulating both cryptocurrencies and blockchain-based gambling.

For crypto casinos, this could have both positive and negative consequences. On one hand, the introduction of clear regulations will help increase player trust by providing protection and security guarantees. Licensed crypto casinos will operate within the legal framework, reducing the number of fraudulent platforms and making the market more transparent. On the other hand, stringent legislative restrictions could make access to these platforms more difficult in certain countries, limiting players’ options.

However, most experts agree that the regulation of crypto casinos in the long term will contribute to the stability of the industry and its continued growth. Laws aimed at protecting players and ensuring transparency will promote the legalization and organization of the market.