ZKasino is a decentralized crypto betting platform that’s been making waves in the online gambling scene since its launch in 2022. Built on Layer-2 ZK-Rollups, it promises infinite scalability and low gas fees while leveraging Ethereum’s decentralization. The concept is intriguing: a blockchain casino where you can play games like Dice, Coin Flip, Slots, Video Poker, and Mines, all while keeping your funds in your own wallet—no KYC, no sign-ups, just connect and go. It’s marketed as a “play-to-earn” setup, where even losing bets earn you ZKAS tokens, the platform’s native currency. Sounds like a gambler’s dream, right? Well, not so fast.
The game selection is decent, offering a mix of classic casino vibes with a crypto twist. Slots and Dice are straightforward, and the lack of deposit hassles is a plus—transactions are smooth if you’re crypto-savvy. The interface feels modern, though it’s not groundbreaking; it’s functional enough to keep you spinning or flipping coins without much friction. The promise of transparency via smart contracts is there, but you’ll need to dig into the code yourself to verify anything, as the platform’s claims about zero-knowledge proofs don’t fully hold up under scrutiny.
Here’s where it gets messy. ZKasino operates without a gambling license, which is a red flag for anyone who values legitimacy. Sure, it’s decentralized, but that doesn’t excuse the lack of regulatory oversight—especially when real money (or ETH) is on the line. Worse, the project’s reputation took a nosedive in 2024 when it pulled what many call an exit scam. Users who bridged ETH to farm ZKAS tokens were blindsided when the team converted their funds into ZKAS at a questionable rate, locked them into a 15-month vesting period, and then funneled over $33 million into Lido staking instead of honoring refunds. The chain they launched? Not even ZK-based—just a quick Arbitrum Nitro deployment. Sloppy and shameless.
Financially, it’s a trainwreck. Posts on X and web reports confirm ZKasino got liquidated for $27.1 million on a 20x ETH long in April 2025, wiping out whatever credibility they had left. That’s on top of the $313 million reportedly wagered by 39,000 users—numbers that sound impressive until you realize much of it might be gone forever. The team’s silence since the rug-pull accusations doesn’t help, and the founder’s flippant responses to lawsuits only fuel the fire.
If you’re still tempted, the crypto payment options are a highlight—multiple coins supported, no middleman. But the downsides? No bonuses, no customer support worth mentioning, and a high chance you’re throwing ETH into a black hole. ZKasino might’ve had potential as a Web 3.0 gambling experiment, but it’s devolved into a cautionary tale. Play here if you like living dangerously; otherwise, stick to licensed platforms that don’t gamble with your trust.
https://t.ly/zkasino