Tag: unregulated
Gamblers wager billions on unregulated Bitcoin betting sites
March 10, 2014
PBS – Mechs is a whale. More specifically, Mechs is the username of a well-known high roller whale on an online gambling website where there is nearly no limit on the size or frequency of bets. Last October, Mechs made a series of winning online wagers, culminating with a single all-or-nothing bet of a little more than $800,000. Mechs had a 96.2 percent chance of winning. Mechs lost. But what really set Mechs’ game apart wasn’t the odds, but the currency. All of his bets were placed in Bitcoins. The wagers rolled instantly across the Internet in both directions, registered…