2012 By the Numbers
It's been an amazing year for bitcoin! We're excited that bitZino can be a part of history in the making. We started bitZino with the goal of bringing bitcoin to the masses; now we'd like to share our progress in this goal.
We officially launched in June of 2012. Later that month we officially made our games provably fair. At launch, we supported Blackjack. Throughout the year we rolled out Video Poker, Roulette, and Craps.
In 2012, our users cashed out a total of 28,986฿. For these withdrawals, we paid a total of 0.905฿ in fees to the bitcoin network, a fee percentage of just 0.0031%!
As we launched more games and continued to grow, we saw a steady increase in the amount of commerce flowing through our site:
Withdrawal Sum by Week (2012)
On average, we sent out withdrawals 9 minutes after they were requested. In total, more than 50% of withdrawals were sent within 1 minute. The main reason for delays were unconfirmed deposits and manual processing.
Withdrawal Times (2012)
One interesting habit we've found is that most users don't keep a balance on our site. When they're done playing for the day, they cash out and get paid nearly instantly. When they're ready to play again, they just make another deposit and their coins are instantly ready for them. This type of behavior just wouldn't be possible with any other payment solution.
In 2012, our players made 3.2 million wagers for real bitcoins on bitZino, an average of 1 wager every 5.5 seconds.
Hands Played Per Week (2012)
As shown above, bitcoin empowers us to accept payments instantly, and it allows us to pay out our players quickly with almost zero fees. The advantages of bitcoin are obvious.
We predict that at least one "traditional" online casino is going to wake up to the obvious benefits of bitcoin, and start accepting bitcoin in 2013.
We also predict our continued growth. We expect to see at least a 5x growth in all our key numbers. Our growth will be fueled by nearly instant payment processing, ridiculously good odds on our games (which we can offer since we're not being gouged by expensive payment processing), and the fact that our games are provably fair.
2013 is going to be an amazing year for bitZino, bitcoin gambling, and the entire bitcoin ecosystem!