Crypto Casino Economy: How Much Money Do They Make?

Over the past month, Stake has processed $2.1 billion in crypto deposits (excluding BTC). It’s no doubt a staggering number, but how much of that is actual profit, considering that most of it goes back to players through winnings and that large operations like Stake aren’t exactly cheap to run?

The answer may surprise you, and there’s no telling which way. But before we dig deeper into the crypto casino profit margins and see exactly how they are calculated, let’s touch base on the overall crypto market statistics.

Key Takeaways

• Crypto gambling platforms generated deposit volumes of $81.4 billion in 2024
• That’s roughly one-third of the global online casino market of $245bn
• Average net profit margins hover around 2% for regular casinos. A bit more for crypto
• Tron and Ethereum dominate crypto gambling rails, followed by Solana

Market Statistics

OK, here’s The Big Picture.

In 2024, the global online casino market hit a market value of $245bn. Around a third of that, $81.4 billion, was generated by crypto casinos, demonstrating that blockchain wagering is not just a passing fad but a trend that’s here to stay.

Even more significantly, that figure represents a fivefold increase compared to 2022, signalling a strong upward curve in the coming years. It’s a power move that prompted industry projections, such as those from Blockonomy, suggesting the sector could reach $400 billion by 2028.

And based on 2025 figures so far, the market is already on track to comfortably break the $100 billion mark. But how much of that is actual profits?

Crypto Casinos Revenue Model

Time for some math and acronyms.

GGR is the acronym, and it means Gross Gaming Revenue.

GGR represents the difference between total wagers and player payouts, and all casinos use it as their main metric. Because the house always holds a small statistical edge, casinos typically retain around 6% of the total amount wagered. However, that number does not represent profit.

From that 6%, a significant portion is immediately consumed by operational costs. We’re talking bonuses, affiliate commissions, licensing fees, compliance, payment processing, and day-to-day operations, which usually account for roughly 4%. At the end of the day, the actual net profits are around 2%.

In other words, a casino retains around $2 million for every $100 million wagered. Crypto casinos are in a slightly better spot here, given their somewhat lower operational cost, but the difference is marginal.

Again, How Much Do Crypto Casinos Actually Make?

Now, let’s piggyback on the Stake’s monthly crypto deposit intake of $2.1bn. While their actual profits will be known to owners and shareholders only, they will be in the region of 2%. Or, after some basic math, $42 million.

Now, that’s hardly a patch on the $2.1bn deposit intake and may sound low to some, but it’s still a lot of money swishing around.

Using the same conservative margin estimates and on-chain data from Tanzanite.xyz, the rest of the market falls into place. Here are the top 5 crypto casino earners during 2025 relative to their deposit intake.

Bear in mind that these estimates exclude Bitcoin entirely, meaning real figures are almost certainly higher and could slightly reshuffle the rankings.