Bitcoin was in the news again last week after its price reached $6,000, but there was some exciting news for one particular player at Cloudbet, one of the premier crypto-bookmaking sites, as they smashed the previous record for a single-session win at the casino.
The lucky player, who will of course be anonymous as he is playing at a bitcoin casino, landed their 160 bitcoin haul while playing high stakes live Baccarat at the popular live casino part of the site. With the current price of bitcoin reaching a record high, that means that in real cash terms the player took home €768,000 or $895,000 as cash equivalent.
This record eclipses the previous Cloudbet record which was landed in March with another big bitcoin win when another player got lucky playing the Troll Hunters slot. However, with the price of bitcoin back in March being less than it is now, that win doesn't translate into as much cash as this one as that player's single spin win was valued (only) at $255,000.
Head of Casino operations at Cloudbet, Leandro Rossi speaking to the Malta Gaming Summit online magazine had this to say about the win:
"We specialize in high limits across both our casino and sportsbook, but this is the biggest single win we've ever seen in over four years of operation," confirmed Rossi.
"We'd love to see someone break this momentous record."
It certainly seems that in the world of bitcoin gambling, Cloudbet is offering punters not only some fantastic pay outs, but also some outstanding higher-stakes slot gaming and sports betting opportunities. Let's now take a little look at the casino and what it offers for the new generation of bitcoin gamblers.
Cloudbet Casino Review
Since it's was first established back in 2013, Cloudbet has become a name synonymous with bitcoin gambling and famous for offering consistently higher betting limits than other bitcoin-casinos or bookmaking services.
Their site and the number of different services that they offer is immense with a Sports and Casino offering, plus a Live Sport (for In-Play betting enthusiasts) and a Live Casino (where players can play using a human croupier/dealer shown via a live video feed). Within each of these are a vast number of betting options for customers to choose from.
The Sports site offers a choice of bets across many different sports including: American Football, Badminton, Basketball, Boxing, Cricket, Darts, MMA, Motor Sports, Rugby, Snooker, Soccer, Tennis and Volleyball. Live In-Play betting is also available on many of these sports throughout the day on the Live Sports site.
The Cloudbet Casino site offers a wide choice of different casino entertainments including slot games, progressive jackpot slots, Video Poker, Table Games, Instant Win games (such as scratchcards) as well as Bingo and Keno. You can also play a selection of casino games with live dealers at the Live Casino site (which is where the lucky player landed their 160 bitcoin win playing Live Baccarat recently).
There is one sign up offer for both the Sportsbook and the Casino with Cloudbet and we'll bring you more details on how it all works below.
As a bitcoin casino, you can play anonymously and as such, you only need to enter your date of birth, your email address and your nickname you want to use on site. Once you have done this and then confirmed your email address by responding to the activation email sent, you can then deposit some bitcoins into your account to use on the site.
The great news is that as a new customer, Cloudbet will offer you a 100% deposit bonus on all deposits up to a maximum of 5 bitcoin (worth about $30,000 in real terms). Simply make your first bitcoin deposit to the provided bitcoin address and as soon as your deposit enters the Blockchain, you will be credited with your deposit within seconds.
You then release your bonus over the course of the year by playing in cash games on the Cloudbet site with 0.01 of bitcoins released for every 800 loyalty points earned.
Bitcoin is the currency used at Cloudbet and that has seen its value rocket in the past few years, with the price for one bitcoin breaking the $6,000 mark (https://www.coindesk.com/price/) for the first time just a few weeks back.
If you have never used bitcoin before then you can purchase bitcoins (or fractions of a bitcoin) at Bitcoin Exchanges or Bitcoin ATMs which will convert your standard cash into bitcoins, which can then be used on sites like Cloudbet.
The easiest way is to use a Bitcoin ATM. What you need to do first, however, is to open a Bitcoin Wallet. This can be done easily with e.g. https://blockchain.info/. Once you have your wallet use the mobile app, or simply take a photo of the QR code that represents your wallet. Go to any Bitcoin ATM and allow it to scan your QR code. Then simply feed the ATM with dollars or euros, or your local currency. Within a few minutes you should have the bitcoins in your wallet ready to be transferred to a bitcoin gambling destination.
How to find a Bitcoin ATM? A simple google search will bring up several websites with Bitcoin ATM maps.
Bitcoin Casinos work in exactly the same way as standard casinos, the only difference being that the wagers shown and the cash amounts won are displayed in bitcoin values, rather than your local currency. In all other aspects in terms of the types of games offered, the bets offered when sports betting, the odds offered on games and bets, the mechanics of how slots and other games of chance are worked out, are exactly the same as on a standard casino.
One big advantage of bitcoin casinos however like Cloudbet is that there is no limit on the size of deposit or withdrawals that can be made, which means that they are particularly attractive for higher stakes gamblers.
There are over 250 different games available at present at Cloudbet and there are a number of variations of popular casino games available to play including several different variants of Video Poker, a number of table games (including Roulette, Blackjack, Baccarat, Casino Hold'em and Caribbean Poker).
When it comes to slots the site offers a wide choice of jackpot slots including Bell of Fortune, Fruit Bonanza and It Came from Venus. There's also a massive choice of 173 standard slots to pick from too including the likes of Dr Jekyll and Mr Hyde, fire and Ice, Rage to Riches and Sin City Nights slots.
All your winnings at Cloudbet are instantly withdrawable once they have been placed into your bitcoin account and you are free to make a withdrawal of any size from your account as there are no limits on how much you can deposit or withdraw from Cloudbet.
Yes, Cloudbet stores your bitcoins in cold storage with the keys to that storage kept safely offline. This means that your bitcoins are safe from hackers or other forms of malicious attempts to steal them.
To run successfully, the site operates an online hot wallet with enough funds to process player withdrawals each day, so your withdrawals can be processed speedily.
With the way bitcoin value is increasing and the increasing number of bitcoin players at casinos like Cloudbet, it won't be long until one lucky player lands a $1,000,000 value win on bitcoin.
Will that lucky player be you? Give it a shot, click here.
Please note that Cloudbet does not accept players from the United States of America or the United Kingdom.