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Bitcoin Casino 'Satoshi Dice' Sells For $11.5 Million

An online betting site that plays in Bitcoins has announced that it has been sold, as SatoshiDice announced that it has been acquired by an anonymous buyer for 126,315 Bitcoins.

SatoshDice announced the deal in a shareholder statement earlier this week. The casino has monthly revenues in excess of $50,000 per month, and has seen more than 5.3 million bets placed since the site's inception in April 2012. The value of the deal is roughly $11.5 million USD.

Speaking about the deal SatoshiDice Founder Erik Voorhees said, "While I know some S.DICE owners intended to hold for a long time, and will thus be dismayed by the buyout, it is my sincere hope that this compensation level will be amenable. It is substantially higher than the contract mandates, and it is almost 3x higher than all private owners are being paid. It has not been easy to negotiate to this level, but I believe it is the right thing to do."

"The deal is the first significant buy-out of a Bitcoin industry company and highlights the potential revenues and money that is circling around the industry."

SatoshiDice is a casino that features a unique game in which players wager on a number of a dice. If players selected a number that is less than what is on the dice, they win.

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