The biggest bitcoin casino jackpots won and how Mega Moolah compares
There is no doubt that bitcoin and cryptocurrency in general, is here to stay. Although massively volatile, the online currency has become widely accepted across the globe and in countries like Japan, it is also legal tender.
As paying for items via bitcoin becomes more widely accepted, it is being used to purchase an ever-increasing number of items and one of the boom areas for bitcoin users is online gambling, particularly casino and slot gaming.
Rather than offering games developed solely for bitcoin, the Bitcoin Casino is different in that it is the first casino which will offer a number of popular casino games from Microgaming, including the hugely popular progressive jackpot slot Mega Moolah. This is a real scoop for the casino, being the first to allow direct bitcoin wagering on Mega Moolah's massive jackpot.
So why is this such a scoop? Well you only need to take a look at how some of the jackpots won while playing bitcoin slots compare to the jackpots available on the Mega Moolah slot, to realise that any casino offering Microgaming's most famous slot is going to have instant appeal to bitcoin casino players.
However, before we take a look at some of the largest jackpot wins in bitcoin, we need to first understand the volatile nature of bitcoin and why some people feel investing in the currency is a gamble in itself.
The bitcoin gamble and value of BTC
When bitcoin was first mooted back around 2010, the value of a single bitcoin was pretty much nil. Indeed, one bitcoin owner attempted to auction 10,000 bitcoin for $50 back in 2010, but no buyer came forward to snap up the offer.
That's a shame because if they had and then hung on to those 10,000 bitcoins, by December 2017 (when the bitcoin value was at its highest point), that 10,000 bitcoin investment for $50 would have been worth $179,000,000.
That increase in value came as a result of the 'bitcoin boom' which saw the price of 1 bitcoin increase from virtually nil in 2010, to just short of $20,000 by December 2017. However, in 2018, the value of a single bitcoin has plummeted from those heights and is now worth around a third, at around $6,500 per bitcoin as of today.
It is this massive swing in value, often in a short space of time, that makes bitcoin such a volatile currency. The value of a single bitcoin in your wallet can increase or decrease by several hundred dollars, or even thousands of dollars, in a matter of minutes.
Regardless of this, many people are adopting bitcoin as one of the safest methods of paying or funding items and services online and that includes playing casino games. There have already been some notable bitcoin winners, although it should be noted that the value of these wins in dollar terms, can vary dramatically depending on when the jackpot was triggered.
Here's what we found about bitcoin winners as we trawled through the interweb:
The Biggest Bitcoin Jackpot Win - 11,000 Bitcoin Win ($1.5m) - September 2013
By September 2013, a single bitcoin was worth around $136 and one player, known in online communities as Nakowa, started to play at a bitcoin casino and originally hit a poor run of losses, losing 7,000 bitcoins early in his session.
However, he kept at it and by the end of the session, he had transformed that loss into an 11,000 bitcoin win, comfortably the greatest number of bitcoins ever won at an online casino. So large was the size of his win, that the casino in question almost went bankrupt as they could barely afford to pay him his winnings.
At the time of the win, his 11,000 bitcoin jackpot would have been worth just short of $1.5m. At today's bitcoin price, that win would now be worth $71,060,000.
765.65 Bitcoin Win
A year after the stunning 11,000 bitcoin win, another player playing at a bitcoin casino landed a prize of 765.65 bitcoins for a bet of around 0.2 bitcoin. The cumulative value of this win was $570,000, although at today's prices, those bitcoins would be worth just short of $4.95 million.
What is certainly notable from this drop in size of wins, is that as the value of bitcoin increased sharply, so the size of the jackpots bitcoin casinos were able to offer decreased in terms of bitcoin number and it is for this reason that more modern bitcoin wins, as outlined below, tend to be for considerably smaller amounts of bitcoin.
259.74 Bitcoin Jackpot Landed in early 2017
In early 2017, one player landed one of the largest recent bitcoin jackpot wins when they took home a prize of 259.74 bitcoin, from a bet of just 0.1 coins (equivalent of around $12 at the time). The value of that win at the start of 2017 was $274,594, but had the player hung on to those coins until December of that year, the value of that prize would have swelled to $3.8 million, although today it would now be worth $1,677,920.
216 Bitcoin Win ($255,000)
Another big winner came in March 2017, just before the bitcoin value boom later in the year and their 216 Bitcoin win on the Troll Hunters slot was valued at around $255,000 at the time.
160 Bitcoin Jackpot ($176,000) won on Troll Hunters
One of the most widely reported wins of recent times came in March 2017 when one player landed a prize of 160 bitcoins, which was worth around $255,000. Their initial bet to trigger that win was 0.16 bitcoin meaning they landed a jackpot 1,000 times their stake.
15 Bitcoin Win followed by an 8 Bitcoin win during the bitcoin boom
Just how much the value of bitcoin exploded over the latter part of 2017 is evidenced by one lucky player who landed not just one, but two bitcoin wins in November that year. He won 15 bitcoin initially and then followed that up with an 8 bitcoin win on a different game.
The value of these wins seem tiny but at that time, bitcoin was rallying in value so much so that the 15 bitcoin win was worth around $118,000 at the time of the win, while the 8 bitcoin win was worth around $65,000.
How do these bitcoin jackpots compare to the Mega Moolah slot?
You may think with such a volatile currency allied to the fact that there are clearly some big bitcoin jackpots out there to be won, that bitcoin jackpots would outstrip Mega Moolah, but part of the reason why the new bitcoin casino site is so appealing, is that Mega Moolah still offers far better value for slot players in terms of jackpot size.
Currently, the Mega Moolah jackpot is at a record level with the jackpot at over $18.8 million and still rising. That is over $5m more than the record win back in October 2015, set by Jon Heywood, who landed a 13.2 million British Pound jackpot back then.
Just how big is the Mega Moolah jackpot now? Well, if you were to win the jackpot playing in bitcoin you would receive nearly 3000 bitcoins (converted from USD). The jackpot stands at as of writing 18,825,658.38.
When you consider that the big bitcoin jackpots of late have been around the 10 bitcoin mark, you can see just how much larger the Mega Moolah progressive is!
It is clear that the appeal for bitcoin casino players is that Mega Moolah offers by far the largest bitcoin jackpot in the history of online casino gaming.
Byline: This article was published by Mega Moolah expert Henry. Media and other enquiries.
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