Jon Matonis – Bitcoin Casinos Release 2012 Earnings:
Forbes contributor and Bitcoin Foundation (@BTCFoundation) board member Jon Matonis (@JonMatonis) shares some details from leading online gaming services where bitcoins are used as the currency. Excerpts:
“SatoshiDice reported first year earnings from wagering at an impressive ฿33,310. During the year, players bet a total of ฿1,787,470 in 2,349,882 individual bets at an average monthly growth rate of 78%. […] The odds are calculated to give the house an edge of 1.90% with full transparency because all dice rolls and earnings statistics are verifiable using the blockchain. […] SatoshiDice shares are traded on the MPEx bitcoin [cyber-equities] stock exchange […]. At the current exchange rate of $17.00 per BTC, SatoshiDice is a company valued at $8.9 million.”
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“BitZino reported first year earnings from wagering of ฿10,137. During the year, players bet a total of ฿664,192 in 3.2 million individual bets. […] [From June to December BitZino saw] a period growth rate of 894% or average monthly growth rate of 149%.”
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“Seals With Clubs is dealing about 10,000 hands of poker per day and raking only about 4,000 of them. […] The current rake is 2.5% with a cap of ฿0.10 per hand which is slightly less than half of what other poker sites would charge.”
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“With privacy, efficiency, growth, payment irreversibility, and cost savings as demonstrated by the above, it’s only a matter of time before the mainstream casino operators of Gibraltar and Malta realize the benefits of a gaming economy that leverages the ideal digital casino chip.”
– http://onforb.es/10DVrxq
– http://bitcointalk.org/index.php?topic=138032.0 (Further discussion of this article)
– http://tcrn.ch/Wgetql (Related article on TechCrunch)
– http://bit.ly/W06gXC (Related article on The Verge)
– http://ars.to/10QcVYw (Related article on Ars Technica and Wired.co.uk)
– http://bit.ly/10JloM3 (Related article on Boing Boing)
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