The History Of Crypto Gambling

[fiulpro]

Did anyone ever wondered about how the crypto gambling started ?

Let's review a short one:
1. Bitcoins were created back in 2008
2. First transaction took place in January 2009
3. In August 2011 first ever Poker Site came to accept bitcoins as a source of payment (company-Switchpoker.com)
4. Then in 2012 there was involvement of Satoshi Dice !! Which became immensely popular.
5. First crowd funded casino was introduced in June 2013 officially.(just dice)
6. Just dice lost more then 1000 Bitcoins due to an error and therefore the whole thing was halted for a while.
7.

In July 2013, Satoshi Dice was sold to an undisclosed new owner. The deal was worth over 26,315 BTC which was valued at $11.5 million at the time.

8. Nakowa won 11,000 BTC in September 2013 and everything started to be immensely popular.
9. Bitcasino.io registered themselves in Feb 2014 , so it was like the first licence ever given to a bitcoin casino.
10. In Aug 2014 Altcoins were introduced
11. Fortune jack appeared in 2014
12. Here comes the government :

Focusing on the crypto gambling sector, in July 2015, the UK government warned its citizens against Bitcoin gambling. The warning was directed towards operators dealing with Bitcoin gambling. This came at the beginning of the period where we saw many warnings and restrictions around crypto activities.

13. From 2016 regulations started , more casinos started getting involved and rest is history.

https://4king.com/history-of-crypto-casinos/

[dothebeats]

Never knew that some of the gambling platforms are extremely old in the world of crypto. I just thought that Fortunejack started sometime in 2016, though they were around much longer than that. Also, I guess you can include some faucets that integrated some form of gambling on their platform to attract more people? Like freebitco.in which has dice on their faucet for as long as I can remember. I remember having tried playing in 2014 on that faucet and losing it all. It wasn't worth much but that was my first experience in crypto gambling, and I liked the experience.

[cabalism13]

Never knew that some of the gambling platforms are extremely old in the world of crypto. I just thought that Fortunejack started sometime in 2016, though they were around much longer than that. Also, I guess you can include some faucets that integrated some form of gambling on their platform to attract more people? Like freebitco.in which has dice on their faucet for as long as I can remember. I remember having tried playing in 2014 on that faucet and losing it all. It wasn't worth much but that was my first experience in crypto gambling, and I liked the experience.

Yeah and from what I remember freebitco.in is also the first faucet who ever existed here in crypto world (correct me if I'm wrong) also I've been hearing about Satoshi Dice somewhere last year but didn't know it was one of the first gambling platform that existed in this whole time...
Well I guess, it is only FortuneJack what I know best on that list and been playing with it until now.
So it's been a pleasure to use a platform that has been one to be considered a history

[Heisenberg_Hunter]

Long before everything started there was bitcointalk which introduced the firsts be it bitcoin gambling or first altcoin or the first real world transaction or the first exchange or the first faucet designed by gavin. If block rolling games and lottery were to be considered as gambling, then there were threads as old as May 2010 which had people investing a certain amount of bitcoin and the winner who predicted the exact last character of the block hash wins all.

Here is a gist of the world's first Bitcoin Lottery/Gambling hosted in our forum :

I've been thinking and I'll be hosting world's first Bitcoin lottery!

We'll be using the last two numbers of a real lottery, which one I do not know yet. (Maybe one that we can check online?)
When you'll buy your lot, you'll "bet" on a number between 00-99. (including 00 and 99 ofcourse!)

So, who's in for it?
What real lottery should we pick for our random numbers, or does anyone have a better source?
What price of the "lot" sounds preferable? 50 BTC? 25 BTC?
And what's the maximum amount of lots I want to let people buy? 3? 5 at most?

Please note that if the "jackpot" doesn't "fall" (no one wins), I'll keep hosting rounds until there does win someone, and I wont play myself.
So I want like a lottery that draws numbers every week if we can't get one that draws every day.

Based on these, I would consider bitcointalk as the world's first crypto exchange, bitcointalk is the place where the world's first altcoins was announced and the place where the first bitcoin gambling game was played. You can find more firsts and interesting piece of forum history in my topic : Story of the Firsts - The events which triggered everything

I remember freebitco.in is also the first faucet who ever existed here in crypto world (correct me if I'm wrong)

No, first bitcoin faucet was created by gavin back in June 2010 and it was https://freebitcoins.appspot.com/ More information and announcement about the faucet can be found here : Get 5 free bitcoins from freebitcoins.appspot.com

"SEARCH OUR FORUM, YOU KNOW IT TO BE TRUE!"

[OgNasty]

The history of crypto gambling should include that so far there has been only one gambling house that utilized Bitcoin to protect their customers and show how online gambling could be much better utilizing crypto. This gambling house was directbet.eu and to my knowledge they are still the only place that took bets without requiring an account or a deposit. They were shut down because people were taking advantage of double spends to try and steal from their service.

[mindrust]

Satoshidice is a bch casino now though, isn't it? I wonder how this happened. If Roger bought the business or this is the owner's honest opinion on bitcoin. (bch being the real one)

Also don't forget directbet.eu.

I liked them a lot.

[electronicash]

The history of crypto gambling should include that so far there has been only one gambling house that utilized Bitcoin to protect their customers and show how online gambling could be much better utilizing crypto. This gambling house was directbet.eu and to my knowledge they are still the only place that took bets without requiring an account or a deposit. They were shut down because people were taking advantage of double spends to try and steal from their service.

this i remember betting on MMA matches using just my blockchian.info wallet on directbet. didn't experience the double-spend though.
there were casino during that time where they are not asking users to create an account but just a wallet.
surprising to see Bitcasino.io existed already back 2014, they are still alive up to this point. i can see their rep here posting on threads.

[cabalism13]

I remember freebitco.in is also the first faucet who ever existed here in crypto world (correct me if I'm wrong)

No, first bitcoin faucet was created by gavin back in June 2010 and it was https://freebitcoins.appspot.com/ More information and announcement about the faucet can be found here : Get 5 free bitcoins from freebitcoins.appspot.com

Haven't heard of this ever since I enter the world of Crypto, seems like my knowledge on history aren't sufficient (more to be discovered)
Anyways thanks for correcting me. BTW i tried to click the link of yours but it takes me on nothing...
or it has been long gone?


Just hoping I could see on how does the platform looks like as it was my first time hearing it.

[CarnagexD]

In a span of a couple of years, the gambling industry in crypto already have gone a long way and is continuously innovating to cater the ever-evolving customer pool. And with the rise of numerous coins on the market, expect more gambling sites coming in and out of the system, and of course with this improvements in the current system.

[DarkDays]

Did anyone ever wondered about how the crypto gambling started ?

Let's review a short one:
1. Bitcoins were created back in 2008
2. First transaction took place in January 2009
3. In August 2011 first ever Poker Site came to accept bitcoins as a source of payment (company-Switchpoker.com)
4. Then in 2012 there was involvement of Satoshi Dice !! Which became immensely popular.
5. First crowd funded casino was introduced in June 2013 officially.(just dice)
6. Just dice lost more then 1000 Bitcoins due to an error and therefore the whole thing was halted for a while.
7.

In July 2013, Satoshi Dice was sold to an undisclosed new owner. The deal was worth over 26,315 BTC which was valued at $11.5 million at the time.

8. Nakowa won 11,000 BTC in September 2013 and everything started to be immensely popular.
9. Bitcasino.io registered themselves in Feb 2014 , so it was like the first licence ever given to a bitcoin casino.
10. In Aug 2014 Altcoins were introduced
11. Fortune jack appeared in 2014
12. Here comes the government :

Focusing on the crypto gambling sector, in July 2015, the UK government warned its citizens against Bitcoin gambling. The warning was directed towards operators dealing with Bitcoin gambling. This came at the beginning of the period where we saw many warnings and restrictions around crypto activities.

13. From 2016 regulations started , more casinos started getting involved and rest is history.

https://4king.com/history-of-crypto-casinos/

Nice summary of certain facts that came out of crypto and the father of all cryptos 'BTC'. Interesting facts regarding the rise of the crypto casinos and how everything else from licences to government regulations came to be.

Taking a look at today's gambling crypto-market, we find ourselves overwhelmed by the number of casinos out there but this is actually a good thing as "competition drives innovation"! In my view, the crypto space will grow more regulatory but as there has always been the case there will be ways to workaround them.

[hopenotlate]

There are a couple of milestones that deserve to be mentioned and fixed in the history of the crypto gambling:

 - Sealwithclub by the ledengary Micon ( thanks to which I met Bitcoin)
 - Moneypot ( now called bustabit) the first crash game ever by Espringe

[Ryker1]

Well, it is good to hear this summary of crypto gambling, --I have a question in my mind, how many bitcoin they had since they operate in gambling back then. Perhaps they regret now while seeing that bitcoin has folded the value so many times if they had 20 bitcoin and that amount are easy for them to have before, but now perhaps it's just a fraction they get. I think there are too many of them not by mention of the OP, I have curious if before the gambling sites have provably fair and how they know it.

[Twinkledoe]

There are a couple of milestones that deserve to be mentioned and fixed in the history of the crypto gambling:

 - Sealwithclub by the ledengary Micon ( thanks to which I met Bitcoin)
 - Moneypot ( now called bustabit) the first crash game ever by Espringe

And aside from that, no one is mentioning primedice.com, they registered last 2013? They were one of the firsts also in gambling. Honestly, I played on this first before even knowing the forum. I used to play on their site while I was collecting free satoshis and doges, and other free coins like earthcoin. 

[carlfebz2]

Thanks for the effort op and i was surprised about those name mentioned to be part of history as if theyre just new into gambling industry specially with Bitcasino whom i thought they are just new.Im bit sure that there are other old casino or dice site should be included on the list?

Those winnings wayback to those years are awesome but considering the value then it is most likely a typical or ordinary hit but in todays price then that would be life changing.

gambling industry had become so big only in a decades time
and still continue to grow day by day.

[Questat]

Nice trivia mate I'm not aware in most of the information you shared here.

I'm stuck with the number 2.

2. First transaction took place in January 2009
~``

Where it is now, bitcoin is not anymore fast, maybe fast if you pay a huge fee but it's not the same during the time of 2009.
So I guess bitcoin is not anymore good for online payment like gambling as there are altcoins which are cheaper and faster.

it's all we need, cheaper and faster which we will not longer get on bitcoin.

[johhnyUA]

You forgot about satoshidice . As i remember, this was the oldest dice gambling crypto platform, which was launched in 2013 (or even earlier, lol). Earlier than many of other casinos, like Sportsbet you've mentioned in your OP topic.
Missed a point!


EDIT: This is weird, that i didn't saw that Satoshidice is already in your topic :0 My bad

[uneng]

Satoshidice is a bch casino now though, isn't it? I wonder how this happened. If Roger bought the business or this is the owner's honest opinion on bitcoin. (bch being the real one)

Yes, Satoshi Dice turned into an exclusive bitcoin cash casino nowadays.

That is what they say about accepting bch instead of btc:

Bitcoin vs Bitcoin Cash
True to the original spirit of Satosh vision for a peer to peer electronic cash systemi, Satoshi Dice only allows players to use Bitcoin Cash. Any Segwit Bitcoin that are mistakenly sent to a Satoshi Dice address will be considered a donation to further the development of Bitcoin Cash.

Satoshi Dice Rules
About the currently ownership of Satoshi Dice that is what is known:

A user of this wiki claimed that it is currently operated by and licensed under Costa Rica-based Blockchain Limitada. It is unclear whether Mr. Voorhees controls Blockchain Limitada. A google search for "Blockchain Limitada" yields no hits.

Bitcoin Wiki - Satoshi Dice

[AmoreJaz]

You forgot about satoshidice . As i remember, this was the oldest dice gambling crypto platform, which was launched in 2013 (or even earlier, lol). Earlier than many of other casinos, like Sportsbet you've mentioned in your OP topic.

Oh yeah, here it is

SatoshiDice was launched on April 18, 2012.

The first one dice crypto site.

what we can conclude here, is that gambling industry is the first ones to adopt the usage of cryptocurrencies. and look at where we are now, still new casinos are being launched everyday. we have seen that one major use case of crypto is in the gambling industry. and one of the industries that was not affected by the pandemic. instead of slowing down, this has grown a lot in the previous months. i guess, this industry is the one that benefited from this pandemic crisis because even some of the fiat-based casinos are now accepting crypto to adopt the current trend.

[johhnyUA]

what we can conclude here, is that gambling industry is the first ones to adopt the usage of cryptocurrencies. and look at where we are now,

I'm not sure this is a good things to be proud of. I would prefer some more merchant-based (but not an illegal examples like history with SilkRoad). But whatever, at least something 

And now we have a lot of casinos because of what i said in some another topic - this is very easy to launch them since you don't need any registration in crypto world.

[crzy]

You forgot about satoshidice . As i remember, this was the oldest dice gambling crypto platform, which was launched in 2013 (or even earlier, lol). Earlier than many of other casinos, like Sportsbet you've mentioned in your OP topic.

Oh yeah, here it is

SatoshiDice was launched on April 18, 2012.

The first one dice crypto site.

what we can conclude here, is that gambling industry is the first ones to adopt the usage of cryptocurrencies. and look at where we are now, still new casinos are being launched everyday. we have seen that one major use case of crypto is in the gambling industry. and one of the industries that was not affected by the pandemic. instead of slowing down, this has grown a lot in the previous months. i guess, this industry is the one that benefited from this pandemic crisis because even some of the fiat-based casinos are now accepting crypto to adopt the current trend.

I’m probably sure that some other project also started adopting Bitcoin at that time like exchanges, and other for of services aside from gambling. Anyway, winning such amount of money in gambling today is very impossible to happen, its also good to know how crypto gambling started, and now we’re almost see crowded gambling site.