High Roller Technologies is headquartered in Las Vegas, but it does not currently offer online gaming in the U.S. When it does launch B2C operations in the country, it will skip sports betting or online casino and dive into prediction markets as its sole vertical.
At the company’s earnings call on Tuesday, discussion of the plan to start offering event contracts across the country took up almost every minute of the presentation.
High Roller will launch predictions with Crypto.com
High Roller offers several online casino brands including the eponymous High Roller platform in Finland, and has applied for licenses to offer at least the flagship casino brand in both Ontario and Alberta’s regulated online casino and sports betting markets.
In the U.S., it will be 100% focused on prediction markets.
Two months ago, in mid-January, Crypto.com announced a partnership with High Roller to power the company’s entry into the prediction markets realm via its Commodity Futures Trading Commission (CFTC) registered designated contract market (DCM) and derivatives clearing organization (DCO). That will allow High Roller to host Crypto.com contracts on its own platform and offer them to users across the U.S.
Crypto.com said at the outset that High Roller will offer contracts on markets including sports, finance and entertainment.
On Tuesday’s call, High Roller Chief Executive Officer Seth Young called the Crypto.com deal “a strategic inflection point and the cornerstone of our strategy.”
A $10bn TAM opportunity?
“We are extremely excited and focused on this opportunity,” Young told investors and analysts. The CEO suggested that public reporting and industry estimates imply that total prediction market trading volume in 2025 was between $30bn and $40bn across major platforms such as Crypto.com, Kalshi and more.
“Several market observers believe long-term U.S. market volume could reach the hundreds of billions in trading volume, potentially approaching $1bn or more in a mature state,” he added. “Honestly, I think the market is bigger than everybody’s giving it credit for.
“This opportunity is the most compelling that I’ve seen in years in terms of the breadth and engagement frequency and the upside potential, and it’s still very much in its first inning. Internally, we’ve been working off of a TAM estimate of about $10bn annually on the take rate from contract trading volume. We think that’s pretty conservative.”
High Roller unburdened by distractions
As sports event contracts exploded in popularity and prominence last year, and while their legal status remains without a definitive ruling amid numerous court cases, several gaming companies have flooded the market. The likes of DraftKings, FanDuel, Fanatics, PrizePicks, Underdog and Betr have all either launched or announced plans to start offering prediction markets in various states.
Unlike those companies, High Roller does not have existing U.S. gaming operations in its business portfolio. Young said that positions them not only uniquely but advantageously to take full advantage of the potential that prediction markets offer.
“When it comes to market, if you look at the competitive set, we’re gonna be up against some pretty interesting companies,” he added. “Virtually all of our competitors have other business verticals competing for management attention, capital allocation, strategic focus. Prediction markets are one of many priorities for them.
“For us, this is our first and only vertical in the U.S. market, which means every dollar of investment is pointed at one thing, and we think that kind of focus is definitely a structural advantage. Yes, there are public companies in the market that are tangentially exposed to the space, but they’re operating at scale across multiple verticals. Prediction markets for them is an option on top of an already mature business. The upside is real, but it’s diluted.
“For us, it’s a core thesis, which means that if this market develops the way that we believe it will, the leverage for our shareholders is fundamentally different.”
Rollout timeline and geography TBD
Young did not provide any kind of firm timeline for High Roller hitting the U.S. market with Crypto.com, nor did he specify where exactly the company will look to offer which products.
“It’s TBD on all the markets we’ll serve, but I think it’s fair to say that we’ll take a pretty measured approach as a compliance-focused operator,” he said.
But wherever and whenever High Roller becomes the latest gaming-rooted company to jump into the prediction markets space, it’s clear that it will be not only a focus but the focus for the company in the U.S.
“You’re not really getting prediction markets as a footnote in an earnings supplement,” acknowledged Young. “It’s the story.”
