Since the rise of bitcoin, blockchain industries and cryptocurrencies as a whole have been exploding in their spectrum of application; one of the most feverishly popular applications being online casinos and gambling.

Crypto-Gambling Growth

It comes as no surprise. Traditional land-based casinos were originally designed for members of the wealthy high-society, but since the emergence of online sports betting platforms and virtual casinos, anyone with access to a computer or mobile device can enjoy the thrills of gambling.

Bitcoin and cryptocurrencies have taken the online betting industry another step forward, it’s one of the few real-world use cases that is chiming with extreme popularity and is continuing to rise with virtual casino games such as roulette.

In June 2013, SatoshiDice was estimated to be responsible for around 50% of all bitcoin transactions at it’s peak, and according to data from TheBitcoinStrip.com, 2014 to 2017 saw bitcoin gamblers lay down approximately 3.7 million BTC, which equated to roughly $4.5 Billion USD at the time of reporting, as shown below:

Additional data from BitcoinStrip also revealed an astronomical increase in volume between January 1st 2015 and June 23rd, 2016. The data shows that cryptocurrency casinos took in 2,340,734 BTC and profited 9181.6 BTC, which demonstrates the extraordinary growing interest in the sector.