– Bitcoin Gambling Market Analysis

Bitcoin Gaming Market Analysis – November 8th, 2013 – by Staff

With our upcoming raise, and recent up-and-down results, we feel this is a good time to clarify our overall expectations for growth and other market share, and why is still a “steal”!

Through in-depth research of both public and private bitcoin gaming data, we’ve been able to make several estimates and forecasts on the market, as it relates to our growth.

Over the coming months, we strongly believe we’ll be able to encourage growth by targeting several areas for improvement, including additional table games,live-in game sports wagering, additional P2P options, better reduced juice, slot & progressive games, referral/affiliate program, additional sportsbook options, VIP/rewards program, and translated versions of our website. We also launched a poll to confirm our thoughts on these items, available here: Link

The purpose of this report is to focus on sportsbook and casino markets, although we are considering exploring development options for “dice”/community-driven players, but need to do more research before investing resources on that effort.

Sportsbook versus Casino

Sportsbook: More centralized market, with roughly 6 sportsbooks possessing roughly 90%+ of market share. has the potential to be the only top player crossing over between both the bitcoin casino and sportsbook space. We’re confident we’ll crush our sportsbook growth goals with more reduced juice, affiliates launch (~2 weeks), and in-game live betting (4-5 weeks). These results are supported by our recent survey on the bitcointalk forum. We currently posses roughly 2.5%-5% market share in both markets, as reflected for sports below. We plan to achieve similar growth in the more fragmented casino market, which has roughly 2x the market earnings of sports. “Dice” is probably even higher, but remains to be determined.


Most important and difficult to predict is the growth of the bitcoin gaming market. We attempted to do so in the chart above based from a roughly estimated ~10% monthly growth rate, but this number could change or increase dramatically from month to month, as we’ve seen with the popularity of bitcoin lately.  Below are some rough estimates of bitcoin sportsbooks handle compared to the larger market, to illustrate the opportunity in the space:

  • Sports wagering as a whole: $1 trillion annual

  • Online sportsbooks: $100 billion annual (10% of all)

  • Nevada sportsbooks: $3.45 billion (3.45% of online)

  • Bitcoin handle: $100 million (2.9% of Nevada sportsbooks)

Below are tables showing Bitcoins earned and on annual basis, illustrate revenue per share, based on buy-in price. This forms the pool we can use for company, expenses, re-investment and dividends.

Today – Annual BTC versus annual EPS% based on market share & CBTC price

Market Share/CBTC Price




















July 2014 (estimate):

Market Share/CBTC Price




















What’s next?

We hope this analysis exemplifies the great potential and bitcoin gaming posses, with some generalized market and growth estimates. Even the conservative estimate of 5% market share represents an excellent opportunity, but our expectations are much higher. .

Questions or inquiries regarding CBTC on or are encouraged to email us at [email protected].

We’ll be releasing additional shares at a very reasonable valuation over the coming weeks, starting Monday, November 11th at a price to be determined – stay tuned on our CBTC “Updates” tab for details: Link

**Monday offering price is subject to change based on the BTC price on 11/11. An update will be communicated early in the morning if the asking price has changed.

A big thank you goes out to our current investing community. We appreciate the great patience and support you’ve provided on this exciting journey so far!

Psychology in Blackjack

Have you ever been sitting a Blackjack table, and wondered if the way the cards fall affects the way people play their next hand?

We did. At our bitcoin Blackjack table, turns out, it does.

Measuring from over 30,000 bitcoin hands, we found players bet roughly 2% more, on average, after a loss.

Most players, myself included, like to occasionally “go-big” – At’s bitcoin casino, about 5% of bets have at least double the stake of their previous hand. They’re also roughly 3x more likely to double their bet after a lost hand – a likely sign of a betting technique called “Martingale“, in which a bettor simply doubles their stake after a lost bet.
Try our Blackjack for free, and see how you play.

Bitcoins for Betting – Why use them?

Bitcoin Betting

The first question most ask me when I suggest ditching traditional online off-shore gambling venues in favor of bitcoin-based ones is simple: “Why?”

Lots of answers – Let’s get started.


No longer can the “house” ask for your identification documents in order to cash out, or ban you  after you start winning big. No longer can they easily restrict your bets, or leave your private details for unwanted eyes to see. Most bitcoin websites don’t require anything beyond a username and password – not even an email. Some even allow you to access your funds via a simple unique URL web address alone!


Have you ever found yourself on the wrong side of a bad online casino run, and wondered if you were just taken advantage of by an unfair random number generator? With provably-fair, a betting logic pioneered by bitcoin operators, you can verify mathematically you’re always getting a fair deal.

Also, since all transactions and balances are public on the blockchain bitcoin ledger, you can verify the house actually has the funds to back your bets, and is paying out other players.


Ever been charged $100 to withdraw your own money from an online sportsbook? I have. With bitcoin, transaction fees range from free to roughly a dime. This includes transfers in and out of your betting balance to your personal stash. For this reason, most players keep their funds in a secure personal wallet when they’re not playing – thus eliminating most risk of a site shutting down and running with their bankroll.

“Why not?”

So, should there be anything holding you back?

For most, the concept of bitcoin is pretty overwhelming at first. The best way to help someone start is by giving them a small amount of currency for free, and walking them through the process.

The main fear most new to bitcoin have is that the virtual currency will lose a significant part of its value before they have a chance to react. The user base and demand for the currency grows with each passing day, a reduction in trading price is always a possibility. The best advice I can give is to keep a watchful eye on the daily price and its movements, and if holding holding your balance in bitcoin (or “BTC”) makes you uncomfortable, simple sell your them into “Fiat”, or traditional currency, to be held on one of the variety of popular exchanges.. that is, until another bet calls your name!