Friday, 24 April 2015

How Bitcoin has Changed Online Gambling | Make money online with Bitcoin

Many people view the Bitcoin community as a dark and dangerous place, many more haven't even heard of Bitcoin. However, Bitcoin is perhaps one of the safest ways to make a monetary transaction online and thanks to the vibrant community even those that lack much technical knowledge can make use of Bitcoin through a range of open source tools.

One of the most intriguing things to be born in the Bitcoin community is a radically new online gambling concept.

Those familiar with Bitcoin will no doubt be familiar with the many dice games - simply put, websites where you can gamble your Bitcoins online. However, these dice games are unlike anything seen in the conventional world of online gambling.

Firstly, users are able to use a slider to select the odds (or payout multiplier) that they desire. For example, you can choose from a range of payout multipliers from x1.001 to x64,000.

But perhaps the more unusual characteristic is the ability to, rather than gamble your Bitcoins, invest them in the sites bankroll and enjoy a share of the profits. The way this works is that you stake say 1 Bitcoin towards the sites bankroll, if the total bankroll is 100 Bitcoins, then you own 1% of the bankroll. If someone now bets 1 Bitcoin on the site and looses, the bankroll grows to 101 Bitcoins, however, you still own 1% of the bankroll so your 1 Bitcoin has become 1.01 Bitcoins. As the site operates with a house edge, the bankroll will in time inevitably grow allowing you to sit back and watch you money grow. This is one of the easiest ways to make money online.

The original Bitcoin dice game, Satoshi Dice, are giving away a free bonus to new users. Just click on 'Free Bitcoin faucet'. It's the easiest way to get started in the world of Bitcoin bankroll investing.

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