26 Jan '13, 11am

Bitcoin Casinos Set to Flourish - Online Casino Archives #bitcoin

Bitcoin Casinos Set to Flourish - Online Casino Archives #bitcoin

(1 votes, average: 5.00 out of 5) One Bitcoin based casino has reported fourth-quarter profits for 2012 of hundreds of thousands of dollars after just six months of operations. Results from 2012’s fourth quarter show casinos using Bitcoin as a payment system are making significant profits. SatoshiDice, which has servers based in Ireland, is basically a game where the player chooses a number and then bets on the chances that the next ‘rolled number’ is higher than the one they’ve picked. If the number is higher, then they win, however, the house has a 1.9% edge. This simple online dice game has made £375,626 profits last year between May and December. During that period players placed a total of 2,349,882 bets. A second casino, bitZino, has not published a profit and loss statement; however, it did say that it paid out £311,000 and 3.2 million wagers were placed in the seco...

Full article: http://www.onlinecasinoarchives.com/business/2013/01/26/b...

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