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Cloudbet: The Only Online Casino Site You Need For Big Wins And Endless Fun – Although this is posted under “new in”, it is essential for us that when we look forward to what we can do to improve, we do so without forgetting who we are and where we come from. The point of existence is to provide our players with the best Bitcoin gambling experience. And we do this by staying close to the crypto community, our players, listening to both and ultimately providing what you ask for.

Leandro X: Hi, I’m Leandro. My team and I have created one of the oldest Bitcoin gambling sites in the world. We operate an online sportsbook and casino similar to many other internet gambling operators, with the main and obvious difference being that all of our deposits and withdrawals are in cryptocurrencies. All bets are placed in one of the 12 currencies we support.

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I say we’re “the oldest”, which makes me sound geriatric, but that only speaks to the relative youth of cryptocurrencies and all the services and industries associated with them. It was actually officially launched in October 2013 – that’s when we took our first bet. By the way, this bet was on the K-League soccer league in South Korea and was worth 0.12 bitcoins – only $24 at the time! Like Bitcoin, we have come a long way since then, accepting millions of bets and now having over 200,000 registered customers worldwide.

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LX: This story begins with a sad curiosity and diving into the bitcoin internet rabbit hole at some point in 2012, which led us to realize that bitcoin could solve so many of the problems and challenges that exist in gambling payments.

So, rewind to 2012. We were dealing with gaming websites with a growing interest in Bitcoin. We installed the Bitcoin Core client, which at the time did everything: it was your wallet, it connected you to all the other nodes, it was the app you sold from. So you would inevitably be exposed to all of his works because of that. We set up mining rigs on our laptops.

As we delved deeper into it, it became clear to us that it is the most impressive achievement of technology and economics of our generation. The technology parts, the truly decentralized nature, this true peer-to-peer ledger, this trustless way of sharing information or transferring things of value, it was really cool.

The other part that was really cool was the deflationary nature of the property. The economic parts are almost more interesting than the technological ones. Anyway, it’s a very cool law: it was such a feat of technology and economics, of human ingenuity, that we wanted to build a company in and around bitcoin. It wasn’t so much a gaming site, but a bitcoin site, a crypto site: it’s fascinating, what can we build? Our experiences at the time were mostly games, so gaming made sense. At the time, although we found bitcoin interesting and fascinating, there was no point in it, you couldn’t do anything with it, but we thought we could really do something with it in games.

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To understand this, you need to understand the nature of online payments, which usually means buying things with a credit card. We call the credit card design method “pull” payment. You make a transaction and the merchant withdraws money from your credit card acquirer, and your acquirer withdraws money from your account. So they are actually pulling money out of you. If you made a transaction with someone who didn’t deliver what you bought, you can file a dispute or fraud complaint and the transaction will be reversed. You are protected because you stopped them from withdrawing that money. In games this meant a lot of fraud problems as people would maliciously and fraudulently claim that these charges were not authorized when in fact they were, so the funds were blocked and could not be withdrawn from your account.

Bitcoin is completely different. This is what you call a “push” payment. Instead of withdrawing the funds from my account, I have to actively push them to you so I can’t recover them, but you are the one in control. The balance of power has changed somewhat. This means that you do not have to deal with payment fraud from the operator’s point of view. You don’t have to deal with chargebacks and stuff, which is cool. Thus, it solves a lot of problems for game operators who receive and send money. They can do it in a cheaper way, you can make transactions from anywhere instantly at an extremely low cost and without the risk of fraud or chargebacks.

LX: There was no market research and we didn’t test the market before seeking funding and building the first product. What existed at the time were some very successful bitcoin betting sites, which we took as strong indicators of market demand.

One of them was satoshidice.com and they did chain betting, a simple dice game. They will have many different bitcoin wallet addresses and each address will have a different probability of winning and a different associated payout. You would send Bitcoin to an address and they would roll the dice for you and if you won, you would get your money back. Their trading volume was published, you could see on the blockchain everything that was sent to those addresses and everything that was sent from those addresses. At one point they were the largest single Bitcoin transaction provider in the world and the product couldn’t be simpler.

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There was another site called Anonibet.com. They were doing bitcoin sports betting, the product itself was very simple, but since you can see what’s on the blockchain, it’s clear they’ve done some trading volume. So it was kind of our market research because we saw these two sites, especially Satoshi Dice, that were extremely successful, so there was a belief that we could operate and that there would be a demand for it.

LX: The path we took required little money and was built by two people. We went out and raised funds from a small group of investors. It wasn’t complicated either, there wasn’t an elaborate deck or anything like that, just a group of people willing to believe what we told them in the pub. As for the team itself, there were only two people on the day we started. From the moment we started operating, we had immediate cash flow. We broke through in a few months. As for the investment verification, it was pretty clear. Then we invested more and increased the team, especially in engineering. Even today, we are mostly engineers.

So in October 2013, we made an announcement on Bitcointalk where we introduced ourselves to the community, or we introduced ourselves to them. We started accepting customers, we started accepting real bets and we took it from there.

Customers came pretty quickly because we were authentic in our communication. We asked for feedback and created a product that the community clearly wanted. It wasn’t 100,000 customers from day one, but it was a good, steady flow from the beginning, from the first post we made on the forums.

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The first record was during the preparations for the World Cup in 2014. Thus, we noticed a significant increase in customers. And then in 2017, we saw another surge in cryptocurrency prices. More general interest, more searches for Bitcoin, more and more people understanding and buying it and therefore able to gamble with an asset that until now could not be used for other purposes.

A screenshot of the solution from February 2014. It shows the home page from the desktop app with some sports images, videos, registration and login options.

LX: From the very beginning, we’ve focused on giving customers what they want. It sounds like marketing 101, but it’s the truth and you need to live by this mantra if you’re running a consumer-facing platform and building technology for a customer base. Understand who the customer is and do your best to make them happy. That’s what we’re trying to do anyway.

In the early days, a lot of feedback came from engaging with the Bitcointalk community. As mentioned earlier, we announced our launch on Bitcointalk and used this forum thread to seek feedback and input on what we had created. Crypto enthusiasts are very communal and focused, there is a real “us against the world” mentality that easily resonates with us. So because of that community pressure, you have to be where the customers or potential customers are going to be, whether it’s Bitcointalk or Reddit or Discord or wherever. You have to engage them and listen to what they want and then you have this

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