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Bitcoin casinos that use cryptocurrency for betting and payouts have become a popular phenomenon, offering anonymity, fast transactions and low fees. But when and how did the first bitcoin casino emerge?
The history of bitcoin began in 2008, when Satoshi Nakamoto published a white paper describing the decentralised payment system. In January 2009 the bitcoin network was launched, and in September of the same year the first purchase of bitcoins for fiat money was recorded: 5050 BTC for $5.02 via PayPal. By 2010 bitcoin began to gain popularity, the first mining pools appeared, and in 2011-2012 crypto exchanges such as Bitfinex and Coinbase emerged, which made bitcoin more accessible. By the way, today the most profitable way to play digital coins is through https://babu88.ing.
The online casino industry developed in parallel. The first online casino, Gaming Club, was launched by Microgaming in 1995. By the early 2000s, the number of gambling sites was growing rapidly, and by 2010 there were already thousands of them. However, traditional online casinos faced problems: high payment system fees, long withdrawal times and the need to provide personal data, which reduced the anonymity of players.
Bitcoin, with its decentralisation, anonymity and low transaction costs, was the perfect solution for online gambling. The possibility of instant transfers without intermediaries caught the attention of casino operators, who were looking for ways to optimise payment processes and attract a new cryptocurrency-oriented audience.
There is no exact answer to the question of which bitcoin casino was the first, as early projects often remained in the shadows or disappeared. However, most sources agree that the first bitcoin casinos started appearing in 2012-2013, when bitcoin became better known and its price rose from $10 to hundreds of dollars. This period coincided with a growing interest in cryptocurrencies among tech-savvy users, who made up the main audience of early cryptocasinos.
One of the pioneers in this field is considered to be SOFTSWISS, which launched the first bitcoin-enabled online casino in 2013. SOFTSWISS integrated bitcoin into its platform, offering operators a solution for creating cryptocasinos. This was an important step, as previously gambling platforms mainly accepted fiat currencies. SOFTSWISS was also the first brand to adapt Amatic games for bitcoin, which expanded the range of games available.
Other projects began to emerge in 2012-2013, such as SatoshiDice, which launched in 2012. Although SatoshiDice was more of a dice game rather than a full-fledged casino, it became popular due to its simplicity and use of bitcoin for betting. Players could bet on the outcome of a dice roll, and payouts were made automatically via blockchain.
A key moment in the history of bitcoin casinos was the emergence of Bitcasino.io in 2014. The platform offered over 2,000 games, including slots, table games and live casino, and supported fast bitcoin deposits and withdrawals. Bitcasino set the standard for cryptocasinos by showing that they could be as functional and diverse as traditional online casinos.
Bitcasino.io stood out not only for its range of games, but also for its emphasis on anonymity and convenience. Registration took seconds and withdrawals were almost instantaneous, unlike traditional casinos where processing could take days. This attracted players who valued privacy and speed of transactions.
Following Bitcasino, other cryptocasinos such as 1xBit and Stake began to emerge and expanded the list of supported cryptocurrencies to include Ethereum, Litecoin and others. By 2015-2016, bitcoin casinos had become mainstream, and Provably Fair's technology to verify the fairness of each round built player confidence.
The success of the first bitcoin casinos can be attributed to several factors. Firstly, cryptocurrencies provided anonymity, which was especially important in countries with strict gambling regulations. Secondly, low fees and high transaction speeds made bitcoin casinos more attractive compared to platforms using bank cards or e-wallets. Thirdly, decentralisation eliminated the need for intermediaries, which reduced casino operating costs and allowed them to offer more generous bonuses.
In addition, bitcoin casinos attracted a tech-savvy audience that was already using cryptocurrencies. This audience was willing to experiment with new platforms, which fuelled the rapid growth of the industry. By 2020, riding the wave of a new surge of interest in cryptocurrencies, platforms like Stake reached billions of dollars in revenue, confirming the commercial success of the model.
