The market cap for gambling crypto currencies has reached $150m, according to Legal Gambling And The Law, a publication specializing in online gambling.
According to the publication, the daily value of gambling transactions is $3m, with over 30,000 transactions every week.
This comes in the context of a growing overall gambling market. In 2018, the industry stood at $450bn but today it's expected to hit $565bn by the end of 2021.
The crypto gambling market has pulled ahead of the traditional crypto market between October 2020 and January 2021, the publication explained.
Many of the cryptocurrencies that are used in the crypto gambling market, such as Bitcoin and Ethereum, have seen record-high gains over the last several months, endorsed by various mainstream investors and driving a steady demand and confidence in them.
Established crypto gambling websites such as Bitcasino.io, FortuneJack and 1xBit have been operating for years building consumer trust and confidence and helping more players find a crypto gambling home.
Bitcasino.io has been known for its giveaways, which often feature Tesla cars. Online casinos are not the only crypto gaming websites out there, and crypto sportsbooks as Sportsbet.io, Cloudbet, and Stakes.com are other viable choices.