The crypto gambling and betting industry is experiencing rapid growth, both in terms of volume and public attention. In November 2024, Polymarket made headlines for accurately predicting the next US president and achieving a monthly trading volume of $2.5 billion. In December 2024, Crypto.com launched a sports event trading platform.
In January 2025, the crypto casino Stake.com, with a monthly deposit volume of $1.1 billion, secured naming rights to an F1 car. The increasing adoption of cryptocurrencies and technological advancements, particularly in the DeFi sector, are driving the industry’s growing influence.
Crypto gambling platforms are expanding their market share. The iGaming sector, which includes online gambling and betting, has experienced significant growth over the past two decades. According to iGamingbusiness, total winnings reached nearly $139 billion in 2023 and are projected to reach $266 billion by 2030. Statista estimates the total iGaming market size (company revenues) to be $97 billion in 2024, with sports betting accounting for 46%, online casinos for 36%, and lotteries for 16%.
Crypto-based gambling has seamlessly integrated into the industry, offering advantages to both centralized and decentralized platforms. In centralized casinos, blockchain technology enables faster transactions, lower fees, and global accessibility, although some regions impose restrictions. In decentralized gambling, blockchain powers betting operations with enhanced transparency and efficiency, while DeFi innovations introduce new models like decentralized betting pools.
Softswiss, a software company serving the iGaming industry, reported that around 17% of all iGaming bets in the first three quarters of 2024 were placed in cryptocurrencies. This number is slightly lower than the equivalent period in 2023 due to slower growth: while fiat bets surged by 50%, crypto betting grew by only 15%.
According to Softswiss, the top five most popular cryptocurrencies in iGaming have remained consistent over the years, with some shifts in ranking. Bitcoin, Ethereum, Litecoin, Tether, and Dogecoin continue to dominate among crypto gamblers. Bitcoin is still the most popular crypto, but altcoins’ share increased significantly from 25% in the first nine months of 2023 to over 47% during the same period in 2024.
Another notable trend is the emergence of casino-specific tokens aimed at enhancing player engagement. These tokens, such as Rollbit’s RLB and Shuffle’s SHFL, are designed to be compatible across different platforms, reduce volatility, and offer exclusive perks for users.
It is possible that a unicorn, a company valued at over $1 billion, could emerge in the crypto gambling industry in 2025. Since the launch of the first crypto gambling site, SatoshiDice, in 2012, the sector has evolved significantly. Stake.com, according to Tanzanite, is currently the largest crypto gambling website, holding a 52% market share among the largest crypto casinos. It is a centralized platform that primarily uses blockchain technology for handling crypto bets and processes around $1.1 billion in monthly deposit volume. Stake.com is also known for its partnership with Drake, who serves as its official ambassador.
According to DappRadar, a platform that lists on-chain gambling DApps, Trade Signal on BNB Chain leads the market with a monthly volume of $2 billion, followed by Polymarket with $760 million. CryptoFights Pro ranks third but with a much lower volume of $18 million. CryptoFights runs on PlayBlock, a layer 3 network on Arbitrum Nova, specifically designed for gasless gambling. DappRadar lists 24 gambling DApps already operating on the network.
Despite its growth, crypto gambling is facing increasing regulatory scrutiny. Many jurisdictions restrict access to these platforms, and for example, Stake.com is banned in the European Union. In 2024, Taiwan and France banned Polymarket, and Singapore joined them in January 2025.
This article does not provide investment advice or recommendations. Every investment and trading decision carries risks, and readers should conduct their own research before making any decisions.