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Cloudbet Player’s BTC Jackpot Now Worth $1,000,000
Cloudbet, an online casino specializing in offering players the opportunity to deposit, play, and withdraw in Bitcoin (BTC), recently paid out a jackpot of 160 BTC. The big win came during a hot streak at the live dealer Baccarat tables.
Now, with BTC now trading at more than $7,000, that means the huge score now holds a value of more than $1,000,000.
“This is the biggest single win we’ve ever seen in over four years of operation. We’d love to see someone try and break this momentous record,” said Leandro Rossi, Head of Casino at Cloudbet.
Crypto and Live Dealer Games Collide
This huge $1m BTC win is by far the largest cryptocurrency win in the history of online casino gaming. It also serves as yet another example and reminder of an industry in constant flux, with new, innovative payment methods being adopted seeming every day.
Not only are more and more casinos and players adopting the use virtual currencies, but there is an increasing movement to create new, gaming only Initial Coin Offerings (ICO) as well. ICO use in particular has the potential o complete revolutionize the industry by acting both as a loyalty rewards program as well as an anonymous banking method.
“In 2013, we recognized that bitcoin technology offers simplicity to online betting. By offering a BTC-only betting platform, we were able to remove the common obstacles that fiat currency operators face. Enabling instant transactions, low fees, access to global players, as well as enhanced player security. Moving forward, our focus will remain with BTC, but we are always open to adopting other cryptocurrencies to continue to provide these benefits to Cloudbet players,” Rossi said.
The fact that it came at the live Baccarat tables carries significance as well. Online casinos are now investing huge sums of money in building up their live offerings, and they are extremely pleased to see players not only frequenting the tables with cryptocurrency but also hitting huge life changing scores as well.