Tuesday September 24 ,2013 : BITCOINS PUNTER MAKES OVER A MILLION DOLLARS
When you win, converting Bitcoins to US dollars can be a profitable affair.
The recent success of an online punter using the virtual currency Bitcoin has once again underlined the growing influence of this virtual currency, which is becoming more widely used in e-commerce and online gambling transactions.
The publication Daily Dot reports the case of internet gambler ‘Nakowa', who used the virtual currency in gambling on the Just-Dice.com website, making deposits worth over $100,000 before hitting a run of good fortune that saw him reap 11,000 Bitcoins.
Whilst that may not sound like an extraordinarily massive profit, when he converted the Bitcoins back into US dollars he was able to bank a startling $1.3 million.
The minimalist Just-Dice website (the title says it all) seems to have developed a winning combination of its own in making Bitcoin available and in keeping its edge to a mere 1 percent, reporting a growing player base since its launch in June this year, and wagers of some $160 million (that's 1.3 million Bitcoins) – a sizeable percentage of that flowing in only a month after launch.