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Satoshibet.com is one of the first major online cryptocurrency casino services.
Satoshibet.com is one of the first major online cryptocurrency casino services. Since its debut in March 2013, the service has grown to incorporate a solid variety of games and exciting features which have attracted a growing number of customers from across the community.
The service currently includes nine games, and play is available in Bitcoin, Litecoin and Dogecoin. Satoshibet is also at the forefront of inclusivity by offering its site in German, Russian, Chinese and Romanian in addition to English.
As has become the norm for gambling services in the space, all play is provably fair and can be verified by users themselves.
No downloads are required in order to use Satoshibet. Users access the site by creating an account, whereupon all site functions are available on one screen.
Games can be selected as the central element, with settings at the top of the screen and information such as other users’ winnings running along the bottom.
Deposits are made by selecting the currency from the drop-down menu, then accessing the deposit function. This creates a one-time address to which funds are sent. One confirmation is required for deposits, meaning funds are available to play within around ten minutes.
Withdrawals are facilitated with a one-click deposit function. Users enter a relevant outgoing address, and funds are sent within approximately five minutes or following two confirmations.
User balances are constantly visible in the top-right hand corner of the screen. Bitcoin balances are displayed in milliBits (mBTC) rather than bitcoins to facilitate easier use of the site.
The site is designed to be as fair possible; only in certain circumstances where there is a tie does Satoshibet introduce a slight house edge.
Satoshibet.com was set up with the aim of providing solid reliability and trusted services to as wide a range of players as possible. The interface, support channels and multilingual support are all designed to provide an upfront, transparent environment, free of the gimmicks and hidden extras often associated with online gambling.
Founded early 2013, Satoshibet aims to both provide the best gaming environment in the Bitcoin world. We have over 100,000 players win over 40,000 BTC since inception, and remain one of the most trusted places to wager your Bitcoin safely & fairly.
There is no charge for deposits or withdrawals.
Minimum and maximum bet amounts vary according to the game played, but can be as low as 0.001mBTC.
As of September 16, 2014, the jackpot stands at 700mBTC. Total winnings are 37,911,930mBTC.
CoinTelegraph reached out to SatoshiBet for more in-depth information about the company.
CT: What inspired you to form Satoshibet?
SB: We started SatoshiBet early 2013, we were just introduced to Bitcoin. Knowledgeable about the gambling industry and seeing the possibilities that Bitcoin brings to this market made us start SatoshiBet.
CT: How has the reaction been in your first 18 months of operation? Were there any particular challenges in reaching this stage?
SB: When we launched we had only one game; Casino War. We gradually added more games every month. In 18 months we have been growing from a few people wagering a few dollars per month in a single game to a player base that wagers several million dollars per month across many games. We are incredibly exited to continue growing SatoshiBet to remain the best and most trustworthy place for people to play games for Bitcoin.
CT: What separates Satoshibet from other digital currency gambling services available at present? How are you keeping ahead of the competition?
SB: We were one of the first Bitcoin casinos in operation, we payed out several thousands of Bitcoin to hundreds of thousands of players over the course of 18 months. Trustworthiness is highly valued in the Bitcoin world, and in that regard there are few places that can compete with SatoshiBet's record.
Behind SatoshiBet sits a real company with a team that is constantly improving the site, creating new games and finding ways to optimize our players experience.
CT: How is Satoshibet tackling the issues of security which are so fundamental for a service dealing in digital currency? What advantages does this model have over fiat-based options?
SB: In regard of fairness, we took a 180° degree approach compared to your classic fiat casino. The legacy approach is to hire an independent auditing agency to test the randomness of all games, and show off the certificate on your site. Basically players were still trusting the site for not lying and the auditing agency for not making a mistake. We innovated a concept that is now widely used among many Bitcoin casinos that we called "Provably Fair". Provably Fair is a cryptographic approach that allows the player to proof to himself that shuffles were completely random and presented in a fair way. Now, there is no need to trust anyone anymore but the law of mathematics.
CT: Are there any future developments you're particularly excited about?
SB: We are working on a broad range of new games that will launch in the coming months, both classics that you know from going to your casino as completely new games that we invented and you never have played before.
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