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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.



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US$30M DUBAI WORLD CUP - Racecourse Media Group and Meydan to showcase world’s richest raceday to more than 150 territories The Dubai World Cup is the first horse race to be broadcast live on airlines and cruise lines

NHL Odds: Forsberg Faces Elliott in Nashville - The last time the Nashville Predators played against the Calgary Flames, Calgary had a 4-1 lead five minutes into the second period. Nashville responded with four back-to-back goals, including a hat trick from centreman Filip Forsberg. Both teams went into overtime with five goals, and Calgary defenseman Mark Giordano (12 goals, 22 assists) scored the winning goal.

Sit & Go 2.0 launched online exclusively at Americas Cardroom - Get ready to cheer like a champion before the first flop is even dealt. The much-anticipated Sit & Go 2.0 is now launched online exclusively at Americas Cardroom and Sit & Go players are reaping the benefits of the next evolution of poker.

NBA Odds: Hawks, Wiz in Southeast Showdown - The Washington Wizards (42-27 SU, 36-32-1 ATS) can pretty much secure the Southeast Division title with a win Wednesday night over the Atlanta Hawks (37-32 SU, 31-38 ATS). Tip-off is at 8 PM ET on ESPN; the Wizards lead Atlanta by five games with less than a month remaining before the playoffs.

Mega Moolah progressive jackpot Hit Again - Microgaming’s Mega Moolah progressive jackpot slot has been hit yet again at just over €6.6 million!

NBA Odds: Clippers Try to Slow Down Bucks in LA - Milwaukee Bucks small forward Giannis Antetokounmpo and Los Angeles Clippers power forward Blake Griffin are two of the most talented and versatile forwards in the NBA. The two lead their teams into battle on Wednesday in Los Angeles.

NCAAB Odds: SMU Hosts Tulsa With AAC Title on the Line - There aren’t too many college basketball teams more profitable than the SMU Mustangs (25-4 SU, 18-5-1 ATS). They host the Tulsa Golden Hurricane (14-14 SU, 15-12 ATS) this Thursday night, tipping off at 8 PM ET on CBSSN.

NHL Odds: Canadiens Welcome Islanders Tonight - The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.

NHL Odds: Reeling Flyers Seek Relief in Pittsburgh - #nhl The Philadelphia Flyers have been a bit off since the holidays. They’ve won just eight games since the Christmas break, and now they’ve got a tough one coming up this Saturday night against the Pittsburgh Penguins.

Dollars to Donuts Slot Launch - Firstly, it's a classically styled, easy playing 3-reel with five pay lines featuring a traditional icon set of bars and sevens.

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