09 Sep '13, 4pm

Bitcoin Gambling: An Overview of an Emerging Multimillion Dollar Industry

No longer the domain of early Bitcoin adopters with web development backgrounds, Bitcoin gambling has exploded into a multimillion dollar online industry. Inhabiting the dicey space of opportunity between lagging legal frameworks and the unprecedented functionality the Bitcoin protocol enables for these platforms, online Bitcoin casinos are growing in numbers, total Bitcoin profits and Bitcoin turnover. On the 17th of July 2013 Erik Voorhees announced that the pioneering Bitcoin gambling site SatoshiDice had sold for the equivalent of $11.5 million USD in Bitcoin – to an unknown buyer. This was the first major acquisition of any Bitcoin company in history, but no doubt it will not be the last, especially in the online Bitcoin gambling space. Using the most up-to-date information available this article will explore in detail the current scale of the online Bitcoin gambling ...

Full article: http://bitcoinmagazine.com/6966/bitcoin-gambling-overview/

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