- Media
UFC deals and influencer streams drive interest in crypto casinos, reports New York Times
According to the New York Times, a teenager who was interviewed said he placed his first bet at 14 on a crypto casino while stuck at home during the COVID-19 pandemic. He watched livestreams featuring celebrities, including rapper Drake and streamer Adin Ross, and said the sites’ flashy content drew him in. By the time he turned 18, David said he had lost over $12,000 of his childhood savings and another $4,000 in personal loans.
“I lost sight of what money actually is, David!” told The New York Times, shortly after graduating from high school in May 2025.
The New York Times found that crypto casinos operate largely offshore, with licenses from small island nations, enabling them to bypass U.S. gambling regulations. These sites have expanded rapidly through social media, using livestreams and “affiliate programs” to recruit new players, including minors. Affiliate streamers earn commissions on wagers placed by followers they recruit, creating incentives to encourage frequent betting.
“This industry has built an exploitative marketing system that encourages reckless wagers and turns influencers into casino recruiters,” the Times reported.
Eight years ago, crypto casinos were obscure websites. Today, they are a multibillion-dollar business, with major operators such as Stake and Roobet signing sponsorship deals with the Ultimate Fighting Championship, Premier League teams, and celebrities including Drake and Snoop Dogg. According to the New York Times, thousands of gambling livestreams are produced monthly, with viewers of the top 100 streamers logging 12 million hours of content in August 2025 alone.
The platforms create online communities around gambling, offering giveaways and encouraging followers to use affiliate codes. Streamers often flaunt extravagant lifestyles, promoting the notion that gambling can lead to rapid wealth. The report described the content as thriving within the “manosphere,” an online male-centric community emphasizing quick financial gain over traditional employment.
Celebrity endorsements amplify crypto casino appeal
In August 2025, Drake, Adin Ross, streamer xQc, and Trainwreck broadcast a live three-hour gambling session on Stake. According to the Times, the event highlighted the ways celebrity endorsements are used to attract large audiences. Drake did not comment through a representative, while Mr. Ross, xQc, and Trainwreck did not respond to interview requests.
Some crypto casinos have attempted to navigate U.S. regulations by offering “social casino” versions of their platforms, where players use virtual currency. Yet lawsuits, including one filed by the Los Angeles city attorney, argue that these platforms still function as real-money casinos because virtual currency can be converted into cryptocurrency, the Times reported. Stake spokeswoman Audrey FitzGerald told the Times that the platform employs real-time monitoring and verification systems to prevent underage gambling.
According to the New YorkTimes, minors are particularly vulnerable. Because young people often use false identities or location-masking software, the exact number of underage users is unknown. Mental health professionals have reported a growing number of young patients exhibiting anxiety, sleep disruption, and educational setbacks linked to crypto gambling. Matt Missar, a Pittsburgh gambling counselor, told the New YorkTimes, “They’re watching these streamers, and the streamers are winning their bets. They have this false notion in their head that it’s just a matter of time until I hit it big like Drake did, or like Adin Ross did.” Nancy Key, a New York therapist, said patients are increasingly dropping out of school or struggling with career expectations.
Affiliate programs are central to the business model. Anyone registered on a crypto casino platform can become an affiliate, earning commissions on bets placed using their referral codes. Slots, which are popular in gambling streams, tend to yield higher payouts for affiliates than skill-based games. The Times reported that some streamers are paid daily “fills,” where they can gamble for hours, keeping winnings only if they do not deplete their accounts. Self-funded streamers face significant financial risk to maintain viewership.
The Times also highlighted abuses in verification systems. A Canadian man told reporters he earned more than $18,000 selling verified crypto casino accounts created with real IDs from countries including India and Kenya. David himself accessed multiple platforms under false identities and participated in streamer leaderboards, sometimes with VIP hosts offering additional incentives. Even when platforms implement safeguards, evidence was found of staff helping streamers bypass verification. Audrey FitzGerald told the Times, “Our Terms of Service bar our Stake.com affiliates from operating in or targeting users in restricted regions such as the U.S.”
Regulatory gaps are fuelling crypto casino boom
Celebrity partnerships are a major driver. xQc reportedly signed a two-year exclusive deal in 2023 worth up to $100 million with Kick, a livestreaming platform launched by Stake. Adin Ross told viewers he earned $100 million from a Rainbet partnership, according to the New York Times. These deals, coupled with affiliate incentives, reinforce a marketing ecosystem where streamers are essentially casino promoters.
The investigation emphasises that crypto casinos operate in a largely unregulated environment. Many early platforms ignored self-exclusion requests, a key tool for problem gamblers. A 2022 study cited that 37 of 40 popular crypto casinos did not require proof of identity before accepting deposits.
The New York Times concluded that while these platforms have grown into a multibillion-dollar industry, they pose significant financial and psychological risks to young people. “This is a largely unregulated, largely Wild West industry,” Sam DeMello, founder of Evive, told the New York Times. “Even when people try to exclude themselves, some of these platforms ignore the rules, keeping them in the game.”
As crypto gambling continues to expand, the investigation focuses on the challenges facing regulators and the ongoing vulnerabilities of young and underage users in the rapidly evolving digital gambling landscape.
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