Bitcoin-funded online casino turned a $572,000 profit after six months of operation

theverge.com 23 Jan '13, 3pm

Bitcoin-funded online casino turned a $572,000 profit after six months of operation

BitZino, another online Bitcoin-based casino that offers more traditional games like Blackjack, Roulette, and Craps, didn't indicate whether or not it turned a profit on its games since launching in June of 2012, but it did say that it paid out a total of ฿28,986 to users — that works out to $498,097. BitZino also said that it only paid ฿0.905 in transaction fees, which works out to a fee percentage of only 0.0031 percent. While there's no question that these numbers don't come close to the business a standard casino might do, it seems that Bitcoin has at least provided a way for online gamblers to get back into the game. Whether this strategy will clash with Bitcoin's attempts to

Full article: http://www.theverge.com/2013/1/23/3906910/bitcoin-online-...

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