Digital assets have many exciting applications. But, is gambling one of them?

‍What’s happening:‍

• Crypto casinos have become increasingly popular as a way to leverage digital assets for gambling, which has recently led to a flurry of new partnerships and record breaking revenue being generated
  

Why it matters:‍

• The broad applications for crypto have largely been seen as price speculation and payment integrations, however gambling is beginning to show enormous adoption and user growth
  

Who is making moves:‍

• Stake has been one of the most dominant forces in crypto based gambling and previously became the first ever crypto casino to sponsor a Formula One racing team
  
• Rollbit recently entered into a new multi million dollar sponsorship with GameSquare Holdings (NASDAQ: GAME) subsidiary FaZe Clan’s esports team to grow their user base globally
  
• Popular crypto gambling platform Shuffle recently announced record breaking betting volumes of more than a billion dollars per month
  
• Rivalry (TSXV: RVLY) recently successfully launched their own crypto token for the purposes of placing bets within their digital casino, which immediately led to over a million dollars of new revenue generated
  

Going deeper:‍

• Crypto casino startups have also been attracting meaningful venture capital funding, with MyPrize previously coming out of stealth and raising $13M USD in funding from some of the most notable investors in crypto including Dragonfly, Boxcar Ventures and a16z Scout
  

The fine print:‍

• The legal guidelines and regulation around crypto being used for gambling are still extremely unclear, with many countries such as Australia still outright banning crypto casinos and the United States opting for state by state policies around whether or not individuals may become users of crypto focused gambling platforms

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