Bitcoin Forum

Read more how the average bitcoin casino saw 3 BTC gambled every minute: https://bitcoincasinos.reviews/bitcoin-casinos-set-record-with-average-of-4000-gambled-every-minute-in-february/


*Made a comment below about this but check out this statistics website to see how each number was calculated.

https://thebitcoinstrip.com/stats/2017-02-01-to-2017-02-28

This is a shocker, damn, 3 BTC every minute? Bitcoin really is being known because of these gambling activities. And as said in the article, bitcoin will be really more welcome to casinos because of this. But I am becoming curious, why February?
Are these gamblers want to give luxury to their girl friends and family?

February coincidences with the prior month of bitcoin ETF so is likely people have dump their bitcoins before the ETF and gamble the profit they got from the price increase.

"A total sum of 117,971 bitcoin has been staked throughout all of February which is surprisingly a high number. This averaged almost 3 BTC per minute. It is also one of the highest strength of Bitcoin, as the average bet scope was just 0.00013911 BTC."

Yeah this is really huge, I hope they got the statistics correct. I was quite surprise as well.

Gambling is a big industry and bitcoin enables people to get around a lot of legislation that comes with it.

No wonder more and more people are catching up with the possibilities of using bitcoin for gambling.

I think people are not valuing bitcoin as they should be. :-[
Since the ETF ruling you can see bitcoin has been stable after that and 30 btc per minute is over $3000.
That is dangerous because you know about 95% of those players are losers.
And the casino's are the only winners of your value bitcoins. :-[

its just co incidence i guess as many people seen bitcoin is easy to transact with especially for those gamblers who loves easy transaction service
as many gamblers around the world are seeing how easy this system can be used so many of them are adopting bitcoin and we will see more coming from them to use this for their bets.

HaHa. Good point they will eventually lost all their money in the casino with those precious bitcoin. The house always rule. Anyway, I don't know why February was a record month. Maybe a lot of gamblers now are shifting to bitcoin as mode of currency to play and don't want to use their visa or mastercard to deposit money. Gambling industry really benefits a lot from bitcoin ecosystem. Probably online gaming site are really profiting big time right now because of bitcoin.

That's huge and a crazy statistics makes me want to open a Bitcoin gambling website because if he rate of profitability. I didn't know they make that much and 3 BTC a minute is so huge.

3 BTC per minute is quite huge but there is nothing mentioned about source of this datas. How this statistics were calculated, as most of the bitcoin casino doesn't show their full stats how author have calculated all this amount. The only casino that is mentioned is cloudbet, does this stats is based solely on cloudbet.  ???

True, we have no genuine way of knowing whether these statistics are accurate.

But if they are, that's great.  Gambling is a huge industry, and I think this shows gamblers' increasing association with attempts to be anonymous.  It's great that, since in many countries gambling is illegal, people can be much safer gambling online with casinos they trust using a convenient currency and I think that online Bitcoin casinos are going to make their way closer to the mainstream for gamblers.

It's a great record, and I never imagine that a gambling site will make this much profit, and I also have doubt that this statistics is only for one site or all sites. But anyhow this article will tempt rich people to create their own online gambling casino site. In future, the number of online sites will increase day by day. Yes, the Bitcoin made easy to play online gambling.

Wow, 3 btc every minute is a huge number. Not sure how much I believe that, but it is certainly possible. I would also imagine this surge in gambling was people realizing they have btc and now its worth a lot of money, and as I know it a lot of the people holding bitcoin gamble with it.

Problem there are the casinos that deal with bitcoin start to scam it's players just like what one person is claiming is happening to them with cloudbet right now on bets placed on the live dealer roulette wheel. They are shifting the blame so neither of their sites are liable to payout the player his winnings.
How deceptive is this action of a casino to do let alone it being completely a bitcoin casino.
Very bad mark on them if they don't pay them out what they have won. Only thing the player needs to do is have some kind of proof whether it be video or even screens of the incident in process while it happened or else the casino can just write them off as lying. Which is quite bad for their reputation in the first place I would imagine calling their own customers and players to their own sites liars.  :(

Average 3 bitcoin per minute is crazy, these gamblers surely got a lot of minute and they are making gambling as their source of income. These people surely loves the way on how they can gamble with bitcoin. Since it was mentioned that bitcoin is more secured rather than going to casino and gamble out what you've got.

There are websites like this set up to check statistics.

https://thebitcoinstrip.com/stats/2017-02-01-to-2017-02-28

Thanks will follow this site to see and compare from this month where the ATH for bitcoin was achieved and next month's stats and if the price of bitcoin influences the gamblers using bitcoin with these increases in price.

3 bitcoin every minute is sensational, I think more and more people are attracted to play in bitcoin casino because everybody can play with bitcoin no matter what country the player come from, and the bitcoin makes the gambler easy to withdraw and deposit without id verification, so it increasing the number of bitcoin gambler

that's what's attracting them the easy process to bet and the easy way to withdraw without any notice, so far its  been the growing business for bitcoin industry from all nations bitcoin gambling has been develop, we can see more on this business in coming years for sure.

Those are some crazy numbers to consider.
That is over $3300 fiat dollars per minute.
That is hard to fathom that all through the month of February.
Can it continue on into this month and beyond with those numbers on a per minute basis?
Unreal to think of it really. :-\

Nothing to get surprised. It's one among the major industry causing an increase in circulation of the bitcoin. As well several gambling websites have been progressing with several added features. Now as the price increased in February it might have attracted few more to use bitcoin for their gambling needs. Gambling gains more attraction because several countries have ban on it, but bitcoin gives the way.

Thats one proof that bitcoin gambling is really the future of online gambling. Btc gambling willl play big role in bitcoin being well known and used in the future.

That is good to see that people are actually spending their coins on something instead of just trying to hold it until the price goes up so they could receive a large payout. Making money is fine if you have it though there is people within the world that work each day -they still don't keep any money for themselves and they usually don't have any fun spending it.
0.05 BTC every minute isn't that bad, I am pretty impressed actually.

That's what should amaze people because this is not at a global scale because of that fact of countries banning it outright.
They do know how addictive it can be and more deadly because people can do it all from the comfort of their own homes. And with that makes it that much easier to make a gambling addict.

this is interesting fact that apparantly people more likely to choose online casinos currently indeed if we compare between physical casinos this statistics was nothing but at least with bitcoin gambing casinos had potential to be the rival and probably could be instead of physical casinos in the future

Thats really a record high if it has not been achieved before because 3 btc every minute is not cheap and I really want to see a research that will focus on winnings rather than wagers from there we can now do a very detailed comparative analysis at the same time putting a test on the various sites that have proven to be fair and also see how much the sites are making on the average...

is it really 3 btc gambled every minute? because i don't think that is really 3 bitcoin and maybe is just happen for less than 10 minutes because if this is true, then we can know how much the sites is making the money fro bitcoin industry and its really interesting option to build a gambling sites and we have big member that always playing gambling in our sites. but still 3 btc is a big amount that we can see in the gambling sites.

They should have averaged this for the whole february. I don't think this is accurate though as they don't have concrete data to really finalize this statistics on what happened in the gambling scene in February. For sure they weren't able to account for every gambling site.

Actually their statistics also can't be accurate because they haven't calculated stats from many other well known bitcoin casino including fortunejack. However we can predict that not only 3BTC per minute, may be more than 10BTC is wagered per minute. 

Yes but we don't want a million Bitcoin gambling websites as they are becoming too many. I don't even know the legitimate ones. How many Bitcoin gambling websites should we allow to operate because the scanners are getting involved in that line of business. I think people should improvise other uses of Bitcoin and stop this one-way trend.

There are a lot of trusted casino or gambling sites and as a gambler, you must be really careful where you deposit your bitcoin. This is important if you are really a gambler. And I know that gambling addiction is a wrong thing, though it really depends on the gambler.
Even I preach or teach him to avoid gambling if he really wants it, cant help it right? nust gonna moderate his activities.

That is also what I suppose to say and it is another good contributor to the bitcoins price. The more bitcoins generated every minute by those casino's from it's gamblers, the higher demand that it is making in bitcoin gambling industry. They will always play a big role in the market of bitcoin and it is one of the important reasons why many are getting into bitcoin.

I guess there will be upcoming month/s that they will surpass this 3 bitcoins per minute. Let's back on it when it's already fix season, December.

People on those holidays will have more money to gamble and more money to convert to bitcoin. So, I guess there will be another month to break this record.

Though this statistics is a good thing for the bitcoin gambling society.

I guess it's also the reason why Bitcoin gambling websites are springing up everywhere. They are taking advantage of Bitcoin to lure potential gamblers online and I think it's laudable if they do it genuinely.

Well thanks for mentioning this site for their statistics. But I guess we'll more high bets for the next months. Depending on a site's popularity but as long as it is gambling we will expect this. Maybe it can come up to 5 bitcoin / minute or even higher.

Very interesting. Hopefully U.S. state gaming commissions take notice and realize bitcoin is indeed the future of gambling - whether they like it or not - and be forced to adapt or lose out. Prolly won't happen though until the far distant future.

On a related note... March Madness anyone? The NCAA College Basketball Tournament has just started and runs through the rest of March. The NCAA tournament now ranks second to only the Super Bowl (played in Feb. btw) in terms of betting and seems to be gaining ground in recent years.

Wow while the price was rising like crazy people obviously felt they could gamble more. When your money is worth 130% of what you got it for I guess a 1% house edge really doesn't make a difference at all!

Well, you can't count Online gambling sites exist in the internet and also we don't know how much wagered amount for every minute hence it makes Bitcoin Gambling is a right method to introduce Bitcoin. It's possible to claim 3 BTC gambled for every minute because it's just average.

Good to know about the fast progress of bitcoin gambling sites, this does not benefit the gambling industry but the whole bitcoin market, imagine how big the demand they are creating knowing most of gamblers loses their hard earn money. This statistics shows how trustworthy gambling sites are and I have this prediction that in the near future, competition will be bigger and more investors will see this as an opportunity for them to operate as well.

Since bitcoin is really an easy modes of moving money it has really been adopted by a lot of gambling sites. Even known big casinos and sports books have been adopting this as well. Another thing is that it is easy to obtain and deposit into casinos no information required from the gambler which is viewed as a pros of using this method of gambling.

Well I really think that bitcoin play's a big role in gambling,
Specially that bitcoin secures the identity of the users,
And in some bitcoin gambling sites it only needs at least 1 confirmation for your deposit to reflect on your account.

Every gambling website earn approximately 10 or more bitcoin per minute, not all people make win in any gambling website lets say 10 out of 100 player win the game. Gambling is playing the big role in bitcoin industry where there are lots of gambling websites People might think that bitcoin is just for gambling only lmao

I don't think the live statistics from the bitcoinstrip is correct though it's just an average for all casino's profit. I checked luckyb.it stats for example and they have a total btc wagered of 997 but profited 0 something's wrong there because afaik they have house edge.

i think its only estimate for what casino can get in monthly because i don't think that every casino will give their profit info to other site and maybe the casino is only give some number that related with their profit. and if they give some info like btc wagered, maybe its true and they can give this statistic to other site, but the real number is always with them since they will keep for private and no one will know how much exactly they get from gambling business.

That's definitely good news, it's really an industry that has given us much innovation in gambling as opposed to traditional casinos.
The whole provably fair system is something that only Bitcoin and altcoin casinos can offer and that might be another factor in drawing in more people.

Precisely and if they continue this way we will be able to get more people into the cryptocurrency world through gambling online casinos and betting websites.

Definitely, if they way continue than after some years, bitcoin make for the gamblers and also for casino's owners to earn money from it and it will be a big business for every users who use the bitcoin.
If we see in the past, when bitcoin was not introduced in the online gambling world, than we see the result only few people play online gambling and they face the difficulties to pay the amount. But when bitcoin came, it make the way of payment system easy and it build the trust of online gambling sites. So February is a proof that bitcoin will be more popular on online gambling in future. 

Bitcoin will be the future of gambling and we are seeing it's future already, the figured stated by the OP is a serious figured and that would simply mean that there are many gamblers who started to adopt the bitcoin gambling system. It's a progress that we should be happy about and that happen because they see bitcoin is a perfect match for their gambling needs, with that it will bring a competitive market and we can see more casinos to exist in the future to come.

It is not that Bitcoin/cryptocurrency powered gambling is more addicting that 'normal' online casinos.
Using bitcoin as your payment method is only matter of preference and convenience rather than statement of your beliefs.
We all have to agree that standard regulated fiat powered gambling services are simply hard to use.

If it's a fact then i think it's really insane 3 btc / min ? wow
But is there any info regarding how much they win or loose :D

I'm in this number, cause I gamble every single day. And I was talking year ago that bitcoin gambling can just expand more with the time. This news is not a surprise for me, and this is not the top, bitcoin gambling will attract even more people in future you will see, and this 3 btc per second will be 10 btc per second in just few years.

I gamble every weekend but sometimes I dont gamble with bitcoin and I just go to the casino since its boring to stay at home gambling. I think it's clear that the future of gambling will happen in bitcoin. We are talking about trillions of transactions in gambling per day once we get lightning network support.