Home
News
The Gambling industry is a significant business worldwide. It’s one that many Australian entrepreneurs have looked to get into. The country’s The Lottery Office has been significantly driving its product forward. They’ve designed a campaign with rugby league legends Wally Lewis, Gorden Tallis, and Nathan Hindmarsh (who are also brand ambassadors). It can push Australians and New Zealanders to play many of the world’s biggest lotteries, including the US Powerball and the UK. It gives the Aussies and Kiwis a chance to turn their lives around if they win.
Of course, it’s unsurprising that the gambling industry has been given a push. It is a fact that there is a gambling culture across the country. The Australian governments across the various states have actively pushed and encouraged diverse gambling. The research suggests that around 2 in 5 Aussie adults (38%) are gambling every week. Some surveys even suggest that almost 3 in 4 Australians (73%) have gambled at least once during a 12-month period.
The industry is reportedly worth approximately US $5 billion in 2023 and is expected to climb significantly over the next few years. Unsurprisingly, many Australian entrepreneurs are involved in the industry, making their billion-dollar jackpots. Perhaps what’s slightly more surprising is that many have been making it in cryptocurrency.
Cryptocurrency gambling throughout Australia
Cryptocurrency is no longer something that is thought of as a phase that will pass. It has become a significant business and an industry that has become extremely difficult to ignore. People can obtain benefits and advantages once they fully understand how digital currency works. They have found that cryptos can be instrumental when it comes to playing gambling games online.
Australia is one of the leading countries in terms of cryptocurrency adoption. It’s estimated that around 17% of the population holds crypto, which is above the 15% global average. Furthermore, it ranks the nation ninth in the crypto adoption rate, one of the highest among developed countries.
Combining this statistic with the gambling culture and benefits, it’s not shocking some Aussies have been able to strike rich.
Edward Craven
Still yet to reach his 30th birthday, Edward Craven (born 1995) is one of Australia’s most successful billionaire businessmen. Reported to have a net worth of around $2.01 billion, the Melbourne resident is known for being a co-founder of the crypto-based online casino Stake.com. He is also the founder of Kick, which is a live-streaming platform. Kick has attracted many streamers due to its looseness of certain policies that rival Twitch has in place.
Craven and Bijan Tehran created a crypto-based dice game called Primedice before his venture with Stake.com. It led them to come up with Easygo, which would specialize in online casino games.
However, they achieved a worldwide reputation through sports sponsorships and celebrity endorsements through Stake.com.
Tim Heath
Tim Heath is a new entrant into Australia’s most successful crypto billionaire entrepreneurs, described as the “biggest success story out of Warracknabeal, Victoria, since singer Nick Cave.” He is thought to have a net worth exceeding Craven’s, standing at a massive $2.27 billion, as he founded Yolo Group.
Based in Estonia, Heath also managed to make his fortune in the crypto-gambling sphere, having made his first fortune with an online casino that accepted Bitcoin as its main form of payment. The Bitcasino.io casino is based in Tallinn and is the world’s first licensed crypto casino.
Laurence Escalante
Founder of Virtual Gaming Worlds, Laurence Escalante, is arguably one of the most successful men in the gambling industry. His company is the founder of many social casinos in the US, having exploited loopholes that allow players to play casino games without spending real money.
He is thought to have a $3.75 billion fortune and owns a 65% stake and shareholding of the company. However, that wealth is expected to continue to escalate and rocket upwards, as the business recorded a 30% revenue increase in the six months to December 31, 2023. He lives a luxurious and controversial life, but it seems he has the finances to fund it.
Disclaimer: Any information written in this press release or sponsored post does not constitute investment advice. Thecoinrepublic.com and all its authors do not, and will not endorse any information on any company or individual on this page. Readers are encouraged to do their research and take any actions based on their findings and not from any content written in this press release or sponsored post. Thecoinrepublic.com and all its authors do not and will not be responsible for any damage or loss caused directly or indirectly by the use of any content, product, or service mentioned in this press release or sponsored post.
Sam Chess is an utterly focused person looking for the minute details having potential to make a big difference. He is a writer and proofreader with a zeal to understand the cryptocurrency market. Additionally, he can be found trying to figure out the biggest mystery in the industry, Satoshi Nakamoto.
Contact :linkedin
