European cryptocurrency gambling is rapidly rising, with Spain becoming one of the most focused markets. By 2024, Spain's total gambling revenue reached 8.1 billion euros, with sports betting revenue at 608.85 million euros and casino game revenue at 730.7 million euros, showing significant growth in online platforms. High-risk players increasingly favor cryptocurrency betting for faster transaction speeds and higher privacy protection.
However, this growth also puts pressure on regulation. The Spanish Gambling Authority (DGOJ) has strengthened license reviews, requiring operators to obtain specialized licenses for different categories such as poker, sports betting, slot machines, and casino games. Recent data shows that the channelization rate has dropped from 79% to 77%, indicating that more players are turning to offshore gambling sites that accept cryptocurrency deposits to bypass banking restrictions.
Spain has shut down 14 illegal gambling sites, but high-stake players still tend to use cryptocurrency platforms, offering large deposits and low or zero KYC checks. Statistics show that up to 32% of large bet players choose unlicensed platforms, and 88% of the profits come from only 15% of Spanish players.
The Chainalysis 2025 report shows that global cryptocurrency-related crimes caused losses of 2.17 billion US dollars, with individual wallet theft accounting for 23.35%. As the market size is expected to reach 39.82 billion euros by 2033, Spain not only needs to promote the development of the gambling industry but also improve cryptocurrency gambling regulation to protect the rapidly growing European player community.
