Yeet Raises $7.75 Million to Build 'Crypto's Casino'

Yeet.com, a new crypto casino and sportsbook, today announced it has raised $7.75 million in a funding round led by crypto venture fund Dragonfly, with participation from notable angel investors like Pudgy Penguins CEO Luca Netz and LayerZero CEO Bryan Pellegrino.

The company—founded by well-known crypto personalities Michael Anderson, pseudonymous trader Keyboard Monkey, and professional poker player Ben Lamb—aims to create a strong connection with crypto natives thanks to the expertise of its founders and their reputations from building in the space.

(Disclaimer: Anderson is an investor in DASTAN, Decrypt’s parent company. DASTAN President Farokh Sarmad is also an investor in Yeet.)

“Yeet's tagline is Crypto's Casino—meaning it’s built by crypto people, for crypto people,” Anderson, who is better known as Mando among crypto enthusiasts, told Decrypt. “We use crypto as payment rails, but it’s much more than that—our brand, team, and even the games themselves are deeply ingrained in crypto culture,” he said.

The gambling platform will offer a variety of traditional casino games like blackjack and roulette alongside new, crypto-focused games. For example, users will be able to engage with casino games that replicate the experience of minting NFTs, trading meme coins, and “getting rugged” in DeFi—the sorts of applications that allow crypto users to trade, borrow, and lend crypto assets without intermediaries.

To start, Yeet will focus on providing entertaining, high-stakes gambling experiences instead of on-chain games, though it may look to incorporate provably fair games via on-chain verifiable randomness (VRF) in the future.

“Crypto users love risk. They already trade 100x leverage, buy random meme coins, and gamble on everything from airdrops to NFTs in crypto,” Yeet co-founder Keyboard Monkey told Decrypt. “Crypto needs entertainment… and when trading slows down like right now, we all still want fun, fast-paced, gambling experiences—but ones that feel native to our world.”

Meeting crypto users where they are, the casino and its forthcoming sportsbook will offer access to its site via a Telegram bot as well, a trend that was popularized with meme coin trading applications that allowed users to buy and sell tokens directly from the popular messaging terminal.

As for competing with big name crypto casinos like Stake, Shuffle, and Rollbit, co-founder Ben Lamb expects the brand's deeply native crypto roots and culture to help the upstart pull market share.

“Yeet stands out by being deeply crypto-native,” Lamb told Decrypt. “Yeet isn’t trying to compete with these platforms,” he said. “We’re offering something they don’t. We are Crypto's Casino.”

Lamb also pointed to deals with “shitposters,” traders, and founders in the crypto space, and the casino’s plans to offer a multi-tier affiliate program and an extensive VIP rewards program—plus an initial points program that will lead to an airdrop. “Wen token?” he said.

Under Yeet’s Anjouan and Curacao licenses, U.S. residents will not be eligible to play on Yeet. The platform instead will focus on “Asia, Latin America, Canada, Africa, and select European markets where demand for crypto casinos is currently booming,” said Anderson.

Yeet users will be able to deposit funds across multiple Ethereum-compatible chains, Bitcoin, and Solana.