A Cloudbet casino player won a record 216 BTC in total prize winnings last week playing Troll Hunters, a game provided by IGA Slot Provider of the Year: Play’n Go. The 1,000 to 1 spin took place earlier this week, while, concurrently, the bitcoin currency has been buoyed by optimism over the pending U.S. securities ETF decision. Leandro Rossi, head of casino at Cloudbet, believes both factors helped the lucky player win more than a quarter of a million U.S. dollars in total winnings.
"The SEC ETF decision has caused an upswing in the price of BTC – as the player's bet was in BTC, he's won a larger dollar amount worth," Rossi told CCN.
"We've had a player win 1500 BTC in a day, playing 20 BTC hands-on blackjack,” he said. “This is the largest single bet casino win in our history, though, and we're really pleased for the player."
Biggest Round Win In 4 Years
“We specialize in high limits across both our casino and sportsbook, but this is the biggest single round win we’ve ever seen in over four years of operation,” Rossi said.
Online gambling has proven popular with bitcoin’s rapidly growing community over the years, he noted.
"Bitcoin holds certain advantages – ease of use, transparency, security, privacy and the ability to place extremely large bets, which we believe is particularly important to our players,” Rossi said. “Bitcoin gambling also allows big winners – like this casino player – to withdraw instantly. With bitcoin you can win big and cash out quickly, offering a reason to switch from fiat currencies which appeals to most players.”
'Relentless Growth' Expected
Commenting on the current state of the market, Rossi continued: “For us, this signifies a new era in the relentless growth of bitcoin gambling. It’s faster, easier and more secure so big winners can get paid instantly. This attracts players, offering more liquidity and enabling higher limits than many fiat operators. We welcome high rollers so we’re delighted to see this happen and would love to see the record beaten again.”
"We're very optimistic and expect several more years of rapid growth,” he continued. “Lower barriers-to-entry make the casino market more congested, and yet more operators may lead to some pure play providers struggling. But the sportsbook market should remain very healthy."
Rossi expects online gambling growth to be especially strong in emerging world markets.
“The cryptocurrency concept is at its most transformational, however, in the emerging world markets where neither banking nor digital infrastructures are as advanced,” he said. “Players in these markets with an appetite for testing their luck or the sharpness of their view may find bitcoin the only secure, and certainly the easiest, way to play. We're expecting strong YoY growth in the southern hemisphere as these markets continue to develop."
Growth will bring some consolidation, Rossi believes. Regulation will also increase over time. These are both welcome developments.
“We'd expect some degree of industry consolidation once the growth rates start to decline and more regulation for both bitcoin and bitcoin gambling operators," he said. "In other words, the industry will both grow, and grow up, both of which we welcome."
An Online Gambling Leader
Rossi believes Cloudbet has distinguished itself as a leader in the online gambling industry.
"What's most unique is the broad selection of live dealer games as they make the player feel in the heart of the action and our mobile slots,” he said. “Also, we can take single bets as high as 30 BTC, and we pay instantly."
"Our players love our live dealer blackjack, roulette, and baccarat games,” he said. “We also have some new live dealer games coming soon where the player can peel the corners of cards slowly, just like in real casinos in Las Vegas, Monte Carlo, or Macao. We also have really popular and engaging mobile slot games such as Troll Hunter and Hugo."