Bitcoin Money
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Leading Bitcoin Online Gambling Operator Opens Books
Josh Strike, operator of the Bitcoin-only Strike Sapphire online casino (@StrikeSapphire), posted an article in Casino Meister. For the post, the operator opens the books — showing total drop, customer counts, deposits and the bottom line (a net loss). The service is not accessible by those in the U.S. due to online gaming regulations. Excerpts:
I thought I’d share the results of my little experiment. Keep in mind this doesn’t include the external costs — I spent 3 years programming it on my own time, then about $7k before opening it, plus $15k in for the initial float, and I’ve dropped $8K on servers and other bills since it opened.
[The deposits per member metric has] a lot to do with Bitcoin’s instant deposits and withdrawals, and the fact that there’s no minimum deposit. Players can deposit as little as $0.05.
I just need to be able to take other payment methods, to reach a bigger audience.
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