Article Analysis : Bitcoin Online Gambling

1538 Words Jul 7th, 2015 7 Pages
Article 28 – Bitcoin online casinos come under attack

As far as innovations go, few have been as big or a technologically relevant as bitcoin. The cryptocurrency has taken the world by storm and is now a key element within the world of online casino gaming. The new innovation has undoubtedly improved how the online casino industry operates, providing players with more financial freedom from a gambling perspective. While that is the case it has been in for some controversy as of late, as various online gambling websites that utilise bitcoin have suffered notable security breaches.

Hufflepuff magics away over $1 million

Considered very much to be an insider online gambling website, Primedice may not be something that many players have heard of. The website that runs a simple a dice throw based game, with a basic wagering system and even simpler house edge. All any player needs to do is a log-on, place a wager, roll the dice, and hope that their luck is in. Site member Hufflepuff became an instant online villain. After joining Primedice back in August 2014, the player began to bet $8,000 a second for hours on end, a figure that is absurd considering the premise of the website. In total Hufflepuff won over $1 million during his time playing, working out at 2,400 bitcoins. Many were scratching their heads at how he or she did it, before site admin eventually figured out that Hufflepuff had figured out how to hack in and see the encrypted value of the dice before it was rolled.…
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