The year 2024 has been a rollercoaster for online gambling, as highlighted in a new report by Bitrace. With the crypto market booming, it’s no surprise that online gambling has taken off. However, this growth has not come without its complications, notably the surge in crypto-related crime. The report uncovers some eye-watering statistics regarding the relationship between online gambling and the darker side of crypto activity.
Key Points
- Online gambling transactions hit $217.8 billion in 2024, a 17.5% increase from 2023.
- Stablecoin inflows to high-risk crypto addresses reached around $649 billion.
- Stablecoin transactions linked to illicit activities decreased slightly but remain high at 5.14%.
- Inflows to fraudulent crypto addresses skyrocketed to $52.5 billion, indicating a rise in fraud cases.
- Regulatory measures are being implemented, with over $1.3 billion in assets frozen due to illegal activities.
Why should I read this?
If you’re into online gambling or just curious about the intersection between crypto and crime, this article is a must-read. It’s packed with insights on how the boom in crypto has affected gambling and the alarming rise in fraud. Plus, with new regulations rolling out, understanding these shifts is key to navigating the future of this evolving industry.
