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Casinobitco.in Acquires Peerbet

Casinobitco.in is a public gambling site that offers up its own casino games and sports betting. They have been increasing their profit week over week, and recently made a new announcement: they have acquired the website Peerbet.

Peerbet is a site where people can set up lotteries and the house has absolutely no edge. If there are 10 tickets at 1 BTC each, for example, the winner will take all 10 BTC. There are no fees for taking part at all. On top of this, because the players are the ones that are setting up the lotteries, they are able to choose the stakes, how many tickets are allowed, etc. in order to create custom games for any budget. Bitcoins are stored in an account system, so playing for extremely low stakes is possible, since there is no hitting the blockchain until you are actually ready to withdraw your holdings.

Peerbet Announces Investment Opportunity

Another recent thing that has happened with Peerbet is the ability to invest funds in to the site. We are starting to see this more often in the gambling area, because people love to invest in profitable ventures and gambling has proven itself time and time again to be, for the most part, pretty lucrative. With Peerbet this has also shown itself to be true, although with one small issue: it has been losing somewhat bad on the Bitcoin side of things. With that said, it has been profitable for all of the other coins it allows people to invest with.

A fear people had was what will happen with the investment side of Peerbet, being that Casinobitco.in is the new owner of the site. The great news is that absolutely nothing will change with it. Casinobitco.in has agreed to keep the investment system live, rather than take it away. This is an awesome thing for investors and players alike. It ensures that there is an open way to increase the site's bankroll, as well as allows the investors to earn some money on their deposits.

Merging the Sites

It is somewhat hard to tell what is going to happen between Peerbet and Casinobitco.in at this point. The sites are pretty different in both what they offer and how they operate. The general consensus is that they are going to find some method to help bridge the gap between the two sites, possibly using a new account system that allows play on both sites without having to keep transferring funds back and forth. Past this, the hope is that they are going to be expanding on the games that Peerbet offers, increasing the size of the site and its player base before the mainstream gets in to the crypto gambling atmosphere. Right now is the perfect time to start all of this, and it looks like Casinobitco.in is capitalizing on this.

Update April 2014

The merger has gone very well between the two sites, and CBTC has done a great job at keeping in touch with its user base. They have even gone as far as to honor all of Peerbet's old advertising campaigns and such, ensuring that people do not feel as if they lost anything through the merger. This is not to say that the sites have no problems; actually, they have been going through quite a bit. But at the same time, CBTC has been handling things very well and I am really optimistic about the future of both Peerbet and CBTC as one property. The only real confusing part about the sites as of right now is that you can invest in Peerbet through filling up some of their bank roll for dice and their wheel game. On the other hand, to invest in everything else you have to go through Havelock Investments and buy shares of stock. This essentially means that for dice and the wheel game, you can invest what are pretty much liquid assets (in that you can withdraw your funds, at least what is remaining, at any point), but nothing else. With that said, I think both of these are great options and both are proving to be profitable.

Update May 2014

According to the owner of CBTC, Tim, Peerbet is going through some problems. He has stated that the site is losing a lot of money and that the previous owners of the site are “MIA” and so he has no support to try and get things running the way that they should be. As a result, he is handling a lot of things manually that he could otherwise outsource to others. This has led to some problems when it comes to feeling secure with keeping money on the site, as it losing money (and at the same time costing a lot to run) means it could become insolvent at any point. There is not enough information as to whether the site is even close to being there yet, but the fact that the owner is having to be more hands on than he wants does speak volumes for where it is at right now.

Please note that I am not attempting to get anyone to drop out of the site with their balances or investments. There is no way to know for sure if the site is getting to the point where it may need to shut down. It is even possible that the site being up, while it is losing money in terms of running itself, is pushing more customers to the other CBTC properties and is therefore still earning more overall than if it did not exist. With that said, do prepare for the worst and know what is going on with the site at all times; while everything may be perfectly fine in both the short and the long term, they may not be.

Conclusion

Casinobitco.in has acquired Peerbet, creating a very large gambling empire that can further expand and acquire even more crypto properties. By leveraging the power and offerings of both sites, Casinobitco.in is in the perfect seat for gaining market share of the online gambling when it comes to things like lotteries and sports betting. Mix this with the fact that you can easily invest in both of their properties (Peerbet through the site itself and Casinobitco.in through Havelock Investments) and it is clear that this is going to be a force to be reckoned with. I am really looking for what the future holds with the two sites, watching them grow together and feed off one another. I think this acquisition is a perfect example that helps show that Casinobitco.in's managers understand what they are doing and are making great decisions when it comes to how to use investments and income.

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