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Satoshi Dice Sold For 11.5 Million in Bitcoins

Friday July 19,2013 : BITCOIN CURRENCY ONLINE CASINO SOLD FOR $11.5 MILLION
 
Satoshi Dice transaction appropriately conducted in Bitcoins
 
The first major acquisition of an online gambling company accepting the Bitcoin virtual currency has taken place, with online casino firm SatoshiDice sold to an undisclosed buyer for 126,315  Bitcoins, or about $11.5 million, reports the publication TNW.
 
The buyer of the betting company, which was launched in April 2012 and reportedly has revenues above $50,000 a month, has not yet been disclosed.
 
The site features a simple 'lucky dice game'; internet punters send Bitcoins to the site and pick a number. ‘The Ghost of Satoshi’ rolls a lucky number and those who selected a number that is lower than the one on the dice win.
 
TechWeek reports that to date, the site has seen more than 5.3 million bets placed and has paid out more than 3.9 million wins. The company says winnings are dispatched within 30 seconds, while it charges a small transaction fee on each bet.
 
Listed on the Romanian MPEX Bitcoin exchange, SatoshiDice is based in Panama and Dublin, where founder Erik Voorhees this week revealed that the acquisition deal represents a 277 percent premium on its sale price and a 175 percent premium on the company’s valuation according to MPEX.
 
Addressing shareholders this week, Voorhees said:
 
"While I know some S.DICE owners intended to hold for a long time, and will thus be dismayed by the buyout, it is my sincere hope that this compensation level will be amenable. It is substantially higher than the contract mandates, and it is almost 3x higher than all private owners are being paid. It has not been easy to negotiate to this level, but I believe it is the right thing to do.
 
"The deal is the first significant buy-out of a Bitcoin industry company and highlights the potential revenues and money that is circling around the industry."
 
Satoshi blocked US players in May following what it described as "coercive threats" by government, motivating it to protect the interests of its shareholders in a proactive manner.
 
US authorities have taken a closer interest in Bitcoin this year, including an investigation into Tokyo-based Mt. Gox, the world’s largest Bitcoin exchange. Officials seized Dwolla’s payments to and from the service in May for conducting “unlicensed money transmitting”.
 
Mt. Gox reopened its US dollar trading service on July 4 following a two-week suspension in which it made changes to its service to allow it to cater for increased demand. The company did not say if the temporary shutdown was ordered by the US government or was the result of an investigation.



Gambling News :

Live Dealer Now At Slotocash - Live Dealer can be found in the left navigation menu under 'Live Dealer' when you, the player is logged in to instant play.

Advantages of online slots over slot machines - The rise of online casinos means that players no longer have to leave their own house to play casino games.

Betradar Launches US Sports Betting Solutions - With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

Final 12 For MPNPT Morocco - Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).

MPNPT Morocco Updates - Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.

MPN Poker Tour Morocco Day 1A - The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.

2018 MPN Poker Classic - The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.

PDC and Sportradar Renew Deal - Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data

Poker Yaar Joins MPN - Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.

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