Gambling911 – Bitcoin is becoming big business in the world of online gambling. Earlier in the month, Gambling911.com reported that one of its ad sponsors, SportsBettingOnline.com, had become the first online sportsbook that was not bitcoin exclusive to begin offering the anonymous digital currency.
Gambling911.com will be bringing on a bitcoin-specific online sportsbook during the month of September as well.
The online gambling sector is slowly beginning to embrace the sometimes controversial currency that in recent months has come under more intense scrutiny of the US Government.
One firm is now reporting that online gambling actually accounts for half of all bitcoin transactions.
Jeremy Liew, a partner at a venture capital firm called Lightspeed Venture partners, made that incredible claim in his blog recently. Transactions in the biggest Bitcoin Web gambling site, Satoshi Dice, accounted for 25 to 50 percent of the digital currency’s overall transactions during the month of June.
Once considered a virtual underground clearinghouse for illicit drugs, Liew notes that such transactions now account for less than half a percentage point of bitcoin.
