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Cryptomining Attacks Remain One of the Nastiest Malware Threats of 2019 - Bitcoin Magazine

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Scams

betcoin.tm

Gambling

automated scripts

betcoin

betcoin limited

bitcoin

bitcoin gaming

bring down the websites

ddos attacks

email response betcoin.tm

growing body

On the whole, the global Bitcoin space is a self-policing community that uproots and exposes scams and unethical Bitcoin service operators with ruthless efficiency. Unfortunately, there is a growing body of objective evidence that Bitcoin gaming network BetCoin.tm is one such unethical operator in the Bitcoin ecosystem. According to a number of sources, the relatively new Bitcoin gaming platform BetCoin.tm has allegedly been involved in a range of ongoing fraudulent, unethical and illegal activities in an attempt to carve out market share and bring down the websites of their competitors. This includes copyright infringement in relation to the BetCoin Trademark, increasing evidence for BetCoin DDoSing the websites of their competitors, copying the SatoshiDice website UI and terms and conditions word-for-word, using automated scripts to artificially inflate the volume of bets on the Bitcoin dice site BetCoinDice.tm, and falsely representing the private keys used on their dice gaming site.



BetCoin.tm’s numerous press releases and their official website states repeatedly that they own the copyright and trademark for BetCoin ™ ; when in fact that trademark is already held by a registered company in the UK. The original company which owns the trademark is Betcoin Limited which is incorporated in the UK, owning Betcoin.com and over 50 Betcoin related domain names. Betcoin has been filed as a trademark by Betcoin Limited in both the EU and the USA. Betcoin Limited has tried to contact BetCoin.tm to try to resolve the situation in a peaceful manner without any luck yet.



Betcoin.tm’s gaming software is provided by the casino software company SoftSwiss, and its Chief Executive officer Ivan Montik. However, most game graphics and sound effects are cloned copies of the successful in the real money online gambling industry company VIADEN Gaming, licensed and operating out of the very respected gambling jurisdiction Isle of Man.



Another fact worth mentioning is that one of the most respected members of our community, TradeFortress, exposed how BetCoin.tm has been using automated scripts to make it appear that BetCoin.tm has been processing far more bets than actual real players are making. This artificial inflation of the bet volume on the Bitcoin blockchain has the effect of making BetCoin Dice seem much more popular than it really is; especially as on blockchain.info all these automated transactions show that they have originated from BetCoinDice.tm. They use this technique as a way to advertise for free on one of the largest bitcoin online wallets. BetCoin.tm has also been stating these much inflated bet statistics in their recent Press Releases, one of which was comparing them to the industry titan Satoshi Dice in terms of bet volume. In an email response BetCoin.tm explained that “Some people choose automated bots to play both our Dice and Circle games, and we don’t see a reason to prevent them from doing so.” However, the addresses in question were directly linked to the wallets of BetCoin.



Disturbingly, there is also a problem with the secret keys on BetCoinDice.tm – these secret hashes being integral to the provably fair nature of the platform. Upon investigating the secret keys displayed on the BetCoinDice page it was discovered that the secret keys are displayed in exactly the same manner as on SatoshiDice. However, when the secret keys for the previous days were clicked on nothing was revealed. They were empty. This is disturbing as it appears that BetCoinDice’s secret keys information has been lifted directly from the SatoshiDice website – and that the transparency and actual use of these secret hashes which should make the platform provably fair is non-existent.



<figure class="wp-block-image"><a href="https://web.archive.org/web/20131025045217/http://bitcoinmagazine.com/wp-content/uploads/2013/10/4-betcoin_hashcode.png"><img src="https://btcmagprod.wpengine.com/wp-content/uploads/2019/10/code.png" alt="" class="wp-image-37864"/></a></figure>



Apart from copying the private hash information from SatoshiDice, but not actually using the private keys in an effective manner, BetCoin.tm has also copied the SatoshiDice terms and conditions verbatim, and a large portion of the SatoshiDice website texts and graphics.



<figure class="wp-block-image"><a href="https://web.archive.org/web/20131025045217/http://bitcoinmagazine.com/wp-content/uploads/2013/10/1-sd_steps.png"><img src="https://btcmagprod.wpengine.com/wp-content/uploads/2019/10/code1.png" alt="" class="wp-image-37865"/></a></figure>



<figure class="wp-block-image"><a href="https://web.archive.org/web/20131025045217/http://bitcoinmagazine.com/wp-content/uploads/2013/10/1-betcoin_steps.png"><img src="https://btcmagprod.wpengine.com/wp-content/uploads/2019/10/code2.png" alt="" class="wp-image-37866"/></a></figure>



<figure class="wp-block-image"><a href="https://web.archive.org/web/20131025045217/http://bitcoinmagazine.com/wp-content/uploads/2013/10/2-sd_instructions.png"><img src="https://btcmagprod.wpengine.com/wp-content/uploads/2019/10/code3.png" alt="" class="wp-image-37867"/></a></figure>



<figure class="wp-block-image"><a href="https://web.archive.org/web/20131025045217/http://bitcoinmagazine.com/wp-content/uploads/2013/10/2-betcoin_instructions.png"><img src="https://btcmagprod.wpengine.com/wp-content/uploads/2019/10/code4.png" alt="" class="wp-image-37868"/></a></figure>



<figure class="wp-block-image"><a href="https://web.archive.org/web/20131025045217/http://bitcoinmagazine.com/wp-content/uploads/2013/10/3-betcoin_verificationsystem.png"><img src="https://btcmagprod.wpengine.com/wp-content/uploads/2019/10/code5.png" alt="" class="wp-image-37869"/></a></figure>



<figure class="wp-block-image"><a href="https://web.archive.org/web/20131025045217/http://bitcoinmagazine.com/wp-content/uploads/2013/10/3-sd_verificationsystem.png"><img src="https://btcmagprod.wpengine.com/wp-content/uploads/2019/10/code6.png" alt="" class="wp-image-37870"/></a></figure>



Beyond the proven content copyright, trademark, software cloning and other unethical behavior associated with BetCoin.™, there is also a growing body of evidence pointing to their engaging in distributed-denial-of-service attacks in an attempt to bring down the websites of their competition. Since BetCoin.tm became operational the entire bitcoin gambling sector has been experiencing DDoS attacks – except BetCoin.tm itself – and some diligent members of the community matched the DDoS attack signatures from&nbsp;<a href="http://www.primedice.com/">PrimeDice</a>, Bit777, SatoshiDice,&nbsp;<a href="http://satoshicircle.com/">SatoshiCircle</a>,&nbsp;<a href="http://www.just-dice.com/">Just-Dice</a>&nbsp;to be coming from the same source. Minutes after long term hero and donator member TradeFortress spoke out on the Bitcointalk forums about BetCoin.tm’s unethical bet inflation, his non-gaming business Inputs.io came under DDoS attack, and not surprisingly the source was again the same. In an email response BetCoin.tm indicated that “we have absolutely nothing to do with any DDoS attacks, and we actually offered to both&nbsp;<a href="http://satoshidice.com/">SatoshiDICE</a>&nbsp;and&nbsp;<a href="http://www.bit777.com/">Bit777</a>&nbsp;help in introducing the top-level experts who are in charge of protecting our IT infrastructure – Computer Sciences Corporation.” SatoshiDice and Bit777 both maintain that no help regarding the DDoS attacks from BetCoin.tm, has been or ever was forthcoming. As we all know, DDoS attacks are almost impossible to be linked to the person who is actually behind them, and this is merely a speculation, but sometimes there are just way too many coincidences as in this case.



Another Bitcoin casino scam worth mentioning is the one of CasinoBit.Net; which has stolen 386 BTC ($75,000 at time of writing) from both investors and players. The CasinoBit.Net gambling/investment thread on the Bitcointalk forums promised an easy way for investors to triple their Bitcoin. The “investment” scam was exposed as a Ponzi scheme by one of its early investors, but not until after the operator, Max Tsarenko, had made off with the investors’ bitcoins.



As a conclusion, it is important to say that the majority of the bitcoin gambling operators believe in honesty and integrity, however there are a few bad crops in every community and players should be careful with which companies they put their trust and bitcoins in.

Bitcoin Magazine provides news, analysis, information, commentary and price data about Bitcoin.

Bitcoin Magazine

Dariy Margaritov

Cryptomining Attacks Remain One of the Nastiest Malware Threats of 2019

On the whole, the global Bitcoin space is a self-policing community that uproots and exposes scams and unethical Bitcoin service operators with ruthless efficiency. Unfortunately, there is a growing body of objective evidence that Bitcoin gaming...

BetCoin.tm&rsquo;s Allegedly Fraudulent, Unethical and Illegal Activity

On the whole, the global Bitcoin space is a self-policing community that uproots and exposes scams and unethical Bitcoin service operators with ruthless efficiency. Unfortunately, there is a growing body of objective evidence that Bitcoin gaming network BetCoin.tm is one such unethical operator in the Bitcoin ecosystem. According to a number of sources, the relatively new Bitcoin gaming platform BetCoin.tm has allegedly been involved in a range of ongoing fraudulent, unethical and illegal activities in an attempt to carve out market share and bring down the websites of their competitors. This includes copyright infringement in relation to the BetCoin Trademark, increasing evidence for BetCoin DDoSing the websites of their competitors, copying the SatoshiDice website UI and terms and conditions word-for-word, using automated scripts to artificially inflate the volume of bets on the Bitcoin dice site BetCoinDice.tm, and falsely representing the private keys used on their dice gaming site. BetCoin.tm&rsquo;s numerous press releases and their official website states repeatedly that they own the copyright and trademark for BetCoin &trade; ; when in fact that trademark is already held by a registered company in the UK. The original company which owns the trademark is Betcoin Limited which is incorporated in the UK, owning Betcoin.com and over 50 Betcoin related domain names. Betcoin has been filed as a trademark by Betcoin Limited in both the EU and the USA. Betcoin Limited has tried to contact BetCoin.tm to try to resolve the situation in a peaceful manner without any luck yet. Betcoin.tm&rsquo;s gaming software is provided by the casino software company SoftSwiss, and its Chief Executive officer Ivan Montik. However, most game graphics and sound effects are cloned copies of the successful in the real money online gambling industry company VIADEN Gaming, licensed and operating out of the very respected gambling jurisdiction Isle of Man. Another fact worth mentioning is that one of the most respected members of our community, TradeFortress, exposed how BetCoin.tm has been using automated scripts to make it appear that BetCoin.tm has been processing far more bets than actual real players are making. This artificial inflation of the bet volume on the Bitcoin blockchain has the effect of making BetCoin Dice seem much more popular than it really is; especially as on blockchain.info all these automated transactions show that they have originated from BetCoinDice.tm. They use this technique as a way to advertise for free on one of the largest bitcoin online wallets. BetCoin.tm has also been stating these much inflated bet statistics in their recent Press Releases, one of which was comparing them to the industry titan Satoshi Dice in terms of bet volume. In an email response BetCoin.tm explained that &ldquo;Some people choose automated bots to play both our Dice and Circle games, and we don&rsquo;t see a reason to prevent them from doing so.&rdquo; However, the addresses in question were directly linked to the wallets of BetCoin. Disturbingly, there is also a problem with the secret keys on BetCoinDice.tm &ndash; these secret hashes being integral to the provably fair nature of the platform. Upon investigating the secret keys displayed on the BetCoinDice page it was discovered that the secret keys are displayed in exactly the same manner as on SatoshiDice. However, when the secret keys for the previous days were clicked on nothing was revealed. They were empty. This is disturbing as it appears that BetCoinDice&rsquo;s secret keys information has been lifted directly from the SatoshiDice website &ndash; and that the transparency and actual use of these secret hashes which should make the platform provably fair is non-existent. Apart from copying the private hash information from SatoshiDice, but not actually using the private keys in an effective manner, BetCoin.tm has also copied the SatoshiDice terms and conditions verbatim, and a large portion of the SatoshiDice website texts and graphics. Beyond the proven content copyright, trademark, software cloning and other unethical behavior associated with BetCoin.&trade;, there is also a growing body of evidence pointing to their engaging in distributed-denial-of-service attacks in an attempt to bring down the websites of their competition. Since BetCoin.tm became operational the entire bitcoin gambling sector has been experiencing DDoS attacks &ndash; except BetCoin.tm itself &ndash; and some diligent members of the community matched the DDoS attack signatures from&nbsp;PrimeDice, Bit777, SatoshiDice,&nbsp;SatoshiCircle,&nbsp;Just-Dice&nbsp;to be coming from the same source. Minutes after long term hero and donator member TradeFortress spoke out on the Bitcointalk forums about BetCoin.tm&rsquo;s unethical bet inflation, his non-gaming business Inputs.io came under DDoS attack, and not surprisingly the source was again the same. In an email response BetCoin.tm indicated that &ldquo;we have absolutely nothing to do with any DDoS attacks, and we actually offered to both&nbsp;SatoshiDICE&nbsp;and&nbsp;Bit777&nbsp;help in introducing the top-level experts who are in charge of protecting our IT infrastructure &ndash; Computer Sciences Corporation.&rdquo; SatoshiDice and Bit777 both maintain that no help regarding the DDoS attacks from BetCoin.tm, has been or ever was forthcoming. As we all know, DDoS attacks are almost impossible to be linked to the person who is actually behind them, and this is merely a speculation, but sometimes there are just way too many coincidences as in this case. Another Bitcoin casino scam worth mentioning is the one of CasinoBit.Net; which has stolen 386 BTC ($75,000 at time of writing) from both investors and players. The CasinoBit.Net gambling/investment thread on the Bitcointalk forums promised an easy way for investors to triple their Bitcoin. The &ldquo;investment&rdquo; scam was exposed as a Ponzi scheme by one of its early investors, but not until after the operator, Max Tsarenko, had made off with the investors&rsquo; bitcoins. As a conclusion, it is important to say that the majority of the bitcoin gambling operators believe in honesty and integrity, however there are a few bad crops in every community and players should be careful with which companies they put their trust and bitcoins in.

BetCoin.tm’s Allegedly Fraudulent, Unethical and Illegal Activity - Bitcoin Magazine

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On the whole, the global Bitcoin space is a self-policing community that uproots and exposes scams and unethical Bitcoin service operators with ruthless efficiency. Unfortunately, there is a growing body of objective evidence that Bitcoin gaming network BetCoin.tm is one such unethical operator in the Bitcoin ecosystem. According to a number of sources, the relatively […]

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casino - Bitcoin Magazine

Adoption &amp; Community

bitcoin gambling

$122,000 usd and $610,000 usd

approximately $122,000 usd and $610,000

bitcoin casino

bitcoin gambling space

bitcoin gaming platforms

fair gaming semi anonymity

online bitcoin

online bitcoin casino

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&nbsp;<a href="http://satoshidice.com/">SatoshiDice&nbsp;</a>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 ecosystem.



&nbsp;The recent growth in the online Bitcoin gambling space can be attributed to the widely acknowledged benefits for operators and players of using the Bitcoin protocol: transparency, provably fair gaming, semi anonymity, and the ease and speed with which customers can create accounts and begin placing bets. Due to Bitcoin’s accessible nature players from all over the globe can play, bypassing conventional banking structures and the rigorous ID requirements of traditional online sports gaming platforms. This low barrier of entry for both Bitcoin casino operators and gaming players in the online Bitcoin casino space is a large factor. Many platforms are also provably fair, making publicly available the details of their random number generator and their secret hash.



&nbsp;Due to an unprecedented anonymous survey sent out to online Bitcoin casino operators worldwide in early August 2013, for the first time detailed facts and figures concerning the scale and scope of the Bitcoin gambling space have been revealed. Over 60 online Bitcoin gaming platforms were asked to contribute to the anonymous survey, with just 15 responding and completing the questionnaire. Regardless, from just these 15 respondents the most comprehensive overview of the state of the worldwide online Bitcoin gaming sphere to date has emerged.



&nbsp;For the first time comprehensive figures regarding the average monthly Bitcoin profits generated by online Bitcoin casino platforms worldwide were made available. One-third, or 5 out of the 15 Bitcoin casinos reported a very modest profit of only 1 to 5 BTC per month. 4 out of the 15 respondents revealed that they were clearing much higher than average profits of between 101 to 250 Bitcoin; approximately $12,000 USD to $30,750 USD profit per month at current Mt.Gox prices at the time of writing. Two of the Bitcoin gaming operations surveyed were generating average monthly profits of between 1,000 and 5,000 Bitcoin: between approximately $122,000 USD and $610,000 USD. Although one-third of Bitcoin casinos reported average monthly earnings of less than 5 BTC, many operators in the industry are also reaping large rewards, the largest generating between approximately $122,000 USD and $610,000 USD per month. These profits indicate the growing liquidity and high profits which are available to operators in the online Bitcoin gaming space.



&nbsp;A wide variation was also reported in the total profits of the Bitcoin casinos since the establishment of their respective gambling platforms. Four of the websites had a very low total Bitcoin profit since launch of between 1 and 5 BTC. However, the majority had experienced far greater profits; 5 platforms had recorded profits since launch of between 500 and 10,000 BTC, or approximately $61,000 USD to $1,220 000 USD. Since commencing operations the largest bitcoin casino SatoshiDice had achieved a total profit of over 51,000 BTC, roughly $6,220,000 USD at current Mt.Gox rates.



&nbsp;Statistics regarding the average amount players deposit to Bitcoin gambling platforms around the world are also important to gain a thorough understanding of the health of the industry. Two-thirds of the 15 sites surveyed reported that their players deposited 0.1 to 1.5 Bitcoin on average into their online Bitcoin casino wallets. Two of the sites had average player deposit amounts of 5 to 10 or even more Bitcoin. It appears that while the vast majority of deposits are relatively small – in the order of $12 USD to $170 USD – the sheer volume of players leads to online Bitcoin gaming platforms realizing healthy profits.



&nbsp;The largest Bitcoin casino surveyed had over 25,000 unique players who had deposited Bitcoin into their gambling wallets. Another Bitcoin gaming platform had between 15,000 and 25,000 depositing players, two casinos had between 3,000 and 5,000 players, while four of the gambling sites surveyed had between 750 to 1,000 players. While there is large variation in the concrete number of depositing players between sites, taken as an aggregate these statistics point to an industry consisting of many thousands of players worldwide.



&nbsp;Taken from both the blockchain and the casinos themselves, specific statistics from the more prominent online Bitcoin gaming platforms have been made available. A number of big players have emerged in the online Bitcoin gaming space including: Bitcoin poker site sealswithclubs.eu, Bitcoin lotto platform Peerbet.org, roulette inspired Satoshicircle.com and popular online Bitcoin casino Bit777.com.&nbsp;<a href="https://peerbet.org/">Peerbet.org</a>&nbsp;is a popular Bitcoin lotto platform servicing over 6,500 users. The platform has seen $650,000 USD turnover since it commenced operations and averages over 1,100 BTC or $130,000 USD turnover per month. In the four months since commencing operations, online Bitcoin casino platform&nbsp;<a href="https://bit777.com/">Bit777.com</a>&nbsp;– which offers over 50 different games – has processed close to 20,000 BTC or $2,500,000 USD in bets and has over 5,000 players as of early September 2013.&nbsp;<a href="https://www.satoshicircle.com/">SatoshiCircle.com</a>, which is a playful take on Wheel of Fortune, currently has about 4,000 players and is steadily growing, with more than 10 million games played.



&nbsp;Reflecting the growth which has increasingly been reported in the online Bitcoin gaming space, and perhaps the hopes of many operators to become the next SatoshiDice, the vast majority of online Bitcoin gambling platforms reported they have been running their operations for just under three months. This indicates that the industry is still in an early growth phase. As we have seen, the largest online Bitcoin gambling sites are raking in profits of up to $610,000 USD per month and serving up to 50,000 players. The unprecedented transparency, provably fair gaming, semi anonymity, and the ease with which customers can make bets in online Bitcoin casinos bode well for the future of the industry. The current period of high growth in the online Bitcoin gambling ecosystem might just be the precursor to Bitcoin becoming the industry standard in the worldwide online gambling industry generally.

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...

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&nbsp;SatoshiDice&nbsp;had sold for the equivalent of $11.5 million USD in Bitcoin &ndash; 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 ecosystem. &nbsp;The recent growth in the online Bitcoin gambling space can be attributed to the widely acknowledged benefits for operators and players of using the Bitcoin protocol: transparency, provably fair gaming, semi anonymity, and the ease and speed with which customers can create accounts and begin placing bets. Due to Bitcoin&rsquo;s accessible nature players from all over the globe can play, bypassing conventional banking structures and the rigorous ID requirements of traditional online sports gaming platforms. This low barrier of entry for both Bitcoin casino operators and gaming players in the online Bitcoin casino space is a large factor. Many platforms are also provably fair, making publicly available the details of their random number generator and their secret hash. &nbsp;Due to an unprecedented anonymous survey sent out to online Bitcoin casino operators worldwide in early August 2013, for the first time detailed facts and figures concerning the scale and scope of the Bitcoin gambling space have been revealed. Over 60 online Bitcoin gaming platforms were asked to contribute to the anonymous survey, with just 15 responding and completing the questionnaire. Regardless, from just these 15 respondents the most comprehensive overview of the state of the worldwide online Bitcoin gaming sphere to date has emerged. &nbsp;For the first time comprehensive figures regarding the average monthly Bitcoin profits generated by online Bitcoin casino platforms worldwide were made available. One-third, or 5 out of the 15 Bitcoin casinos reported a very modest profit of only 1 to 5 BTC per month. 4 out of the 15 respondents revealed that they were clearing much higher than average profits of between 101 to 250 Bitcoin; approximately $12,000 USD to $30,750 USD profit per month at current Mt.Gox prices at the time of writing. Two of the Bitcoin gaming operations surveyed were generating average monthly profits of between 1,000 and 5,000 Bitcoin: between approximately $122,000 USD and $610,000 USD. Although one-third of Bitcoin casinos reported average monthly earnings of less than 5 BTC, many operators in the industry are also reaping large rewards, the largest generating between approximately $122,000 USD and $610,000 USD per month. These profits indicate the growing liquidity and high profits which are available to operators in the online Bitcoin gaming space. &nbsp;A wide variation was also reported in the total profits of the Bitcoin casinos since the establishment of their respective gambling platforms. Four of the websites had a very low total Bitcoin profit since launch of between 1 and 5 BTC. However, the majority had experienced far greater profits; 5 platforms had recorded profits since launch of between 500 and 10,000 BTC, or approximately $61,000 USD to $1,220 000 USD. Since commencing operations the largest bitcoin casino SatoshiDice had achieved a total profit of over 51,000 BTC, roughly $6,220,000 USD at current Mt.Gox rates. &nbsp;Statistics regarding the average amount players deposit to Bitcoin gambling platforms around the world are also important to gain a thorough understanding of the health of the industry. Two-thirds of the 15 sites surveyed reported that their players deposited 0.1 to 1.5 Bitcoin on average into their online Bitcoin casino wallets. Two of the sites had average player deposit amounts of 5 to 10 or even more Bitcoin. It appears that while the vast majority of deposits are relatively small &ndash; in the order of $12 USD to $170 USD &ndash; the sheer volume of players leads to online Bitcoin gaming platforms realizing healthy profits. &nbsp;The largest Bitcoin casino surveyed had over 25,000 unique players who had deposited Bitcoin into their gambling wallets. Another Bitcoin gaming platform had between 15,000 and 25,000 depositing players, two casinos had between 3,000 and 5,000 players, while four of the gambling sites surveyed had between 750 to 1,000 players. While there is large variation in the concrete number of depositing players between sites, taken as an aggregate these statistics point to an industry consisting of many thousands of players worldwide. &nbsp;Taken from both the blockchain and the casinos themselves, specific statistics from the more prominent online Bitcoin gaming platforms have been made available. A number of big players have emerged in the online Bitcoin gaming space including: Bitcoin poker site sealswithclubs.eu, Bitcoin lotto platform Peerbet.org, roulette inspired Satoshicircle.com and popular online Bitcoin casino Bit777.com.&nbsp;Peerbet.org&nbsp;is a popular Bitcoin lotto platform servicing over 6,500 users. The platform has seen $650,000 USD turnover since it commenced operations and averages over 1,100 BTC or $130,000 USD turnover per month. In the four months since commencing operations, online Bitcoin casino platform&nbsp;Bit777.com&nbsp;&ndash; which offers over 50 different games &ndash; has processed close to 20,000 BTC or $2,500,000 USD in bets and has over 5,000 players as of early September 2013.&nbsp;SatoshiCircle.com, which is a playful take on Wheel of Fortune, currently has about 4,000 players and is steadily growing, with more than 10 million games played. &nbsp;Reflecting the growth which has increasingly been reported in the online Bitcoin gaming space, and perhaps the hopes of many operators to become the next SatoshiDice, the vast majority of online Bitcoin gambling platforms reported they have been running their operations for just under three months. This indicates that the industry is still in an early growth phase. As we have seen, the largest online Bitcoin gambling sites are raking in profits of up to $610,000 USD per month and serving up to 50,000 players. The unprecedented transparency, provably fair gaming, semi anonymity, and the ease with which customers can make bets in online Bitcoin casinos bode well for the future of the industry. The current period of high growth in the online Bitcoin gambling ecosystem might just be the precursor to Bitcoin becoming the industry standard in the worldwide online gambling industry generally.

Bitcoin Gambling: An Overview of an Emerging Multimillion Dollar Industry - Bitcoin Magazine

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 […]