- Players who hit the jackpot at Bitcoin casinos
- What those jackpots translated to then – and now
If you have a Bitcoin casino balance lingering in an account somewhere, it seems like the best investment right now is simply to watch it grow.
The digital currency is in the midst of a value boom, and though the bubble may burst at some point in the future (some say it won’t), right now things look pretty good for Bitcoin holders.
Holding just a few of the virtual coins, which were once worth just $0.003 each, would now give the player a tidy sum in equivalent dollars, pounds or Euros.
The price at the time of writing was $15,000 per bitcoin, so holding just 70 bitcoins will make you a US dollar millionaire.
READ: Our guide to Bitcoin casinos.
Huge Bitcoin wins and their value today
There have already been some big winners, with the largest casino win recorded at 11,000 Bitcoins for a single playing session in 2013.
At the time of the win, the player’s balance would have been worth between $800,000 and $1.3 million. Presumably, they cashed in shortly after, and celebrated their good luck. However, had the player waited and held onto their Bitcoins, that same win could have been worth around $165 million today – far bigger than the biggest online casino jackpot ever of $20 million.
A well as the 11,000 coin win recorded in 2013, there have been many other notable Bitcoin wins over the past five years.
Earlier this year, a player at Bitcoin Video Casino scooped a 259.74 coin payout from a bet of just 0.1 coins (at the time, this would have cost around $12). The prize payout was worth an incredible $274,594 at the start of this year – and today, the same prize would have a $3.8 million value.
In 2014, a player at the same establishment landed a 765 Bitcoin win from a 0.2 BTC bet – a total of more than $570,000 at the time. Had that same win been made today, the player would have walked away with $11.5 million in the bank.
Earlier this year, it was reported that a player on the Troll Hunters slot had won 160 Bitcoins from a single spin. Even at the time of the win, this would have been worth more than $250,000 in real terms. Right now, a win of 160 coins would cash in at $2.4 million.
Cash in or gamble?
There are some huge wins to be made out there.
Bitcoin casinos with progressive jackpots are well worth watching.
Online jackpot trackers report one Bitcoin jackpot which currently stands at more than 5,000 coins. If won before the Bitcoin bubble bursts, that jackpot would be worth about $75 million. That’s a prize up there with some of the best lottery wins.
Knowing when – or if – to cash in a Bitcoin prize is crucial.
Wait too long and the currency could have dipped back down to a values seen more at the start of 2017.
However, if you cash in too soon, you could miss out on the benefit of rising demand. Getting the right return on a Bitcoin prize is a matter of luck, just like playing any other casino game.
The Bitcoin phenomenon keeps growing
Bitcoin has been in the news lately, as the digital currency is experiencing a dramatic price spike and balances are suddenly worth a whole lot more than they were at the start of the year.
The value of Bitcoin keeps on rising, with the cryptocurrency hitting an all-time high of around $18,000 per unit this year.
It opened the year at a price of close to $800. The previous highest point for the currency was in 2013, when a $1242 high was recorded. However, it fell as low as $200 during 2015. Throughout late 2017, the currency has surged and the coins are now extremely valuable.
Some have attributed this remarkable increase in value to the uncertainties surrounding traditional currencies.
Both the dollar and the pound have been in fluctuation this year. The UK leaving the EU and political unrest surrounding the US has affected global trading and caused dips in the value of previously strong currencies.
This has given Bitcoin a chance to flourish. Investors have been grabbing the coins to invest now or later. Now that Bitcoin’s value has spiked, there is a gamble to be made: cash in now, or retain in case of future rises.
Bitcoin gambling and jackpots
There are a small number of Bitcoin casinos on the web, which let players deposit and withdraw balances using the cryptocurrency. With the rise in the currency’s value, expect to see plenty more of these gambling sites popping up in the next couple of years.
Some players might have deposited a few coins years ago and forgotten about them – so they could be due an incredible windfall by cashing in their balances now.
Bitcoin casinos are much the same as traditional online casinos, with games that feature huge payouts and progressive jackpots. There are a number of progressive Bitcoin jackpots out there right now, waiting to be won.
However, Bitcoin is one of the least stable currencies out there, so players are always gambling on the value of the coins, as well as on the games.
Some even say one Bitcoin will be worth a million one day soon, while others claim the cryptocurrency has little inherent value.
But for casino fans, bitcoin casinos have some of the highest return to player rates on offer – usually between 98% and 99%.
The anonymity and relative security of ‘provably fair’ games which operate at bitcoin casinos, also means that players playing in jurisdictions which do not have great regulation or ambiguous laws – so-called grey markets – usually can play with greater peace of mind at such casinos.
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