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Bitcoin gambling has increased over time. It represents an opportunity for players to make big money in the digital currency. The gambling space is one of the largest in Bitcoin.
Erik Vorhees, for instance, sold Satoshi Dice for $11.5 million in July 2013, which many experts cite as the first major Bitcoin business buyout.
John Bridge, MD at BitCapital, told CoinDesk his opinion of that sale: “I presume it’s a significant existing gaming institute that’s bought it. If it has gone to one of the major players in the gaming industry and they’re looking to expand beyond the SatoshiDice model, that would be positive for bitcoin as it would give it greater exposure to people who don’t currently know about it.”
The sites are big money, and that means some have won – and lost – big sums by gambling online with bitcoin.