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PeerBet Steps Up in the Absence of Just-Dice and Doge-Dice

Bryan Burgett in Bitcoin Gambling published on 15, July 2014

Peerbet Steps Up

In the ever-changing world of cryptocurrencies, it is never known exactly what is going to happen next. Sometimes this news is good, and sometimes it’s bad. In the case of Canada stepping in and declaring Bitcoin as a currency (which brings on a lot of other regulation such as having to register with FINCEN, sign up as a MSB, etc.), a rift was created within the gaming sector when it comes to dice games.

Just-Dice and Doge-Dice Halt Operations

There’s really no way to dispute it: Just-Dice (and later Doge-Dice, run by Dooglus as well) was the premiere dice website for bitcoin. With a massive bankroll that housed over 30k bitcoins in investments and thousands of players (leading to over 300 bets per second at times), their presence was unmistakable.

With the news of regulation in Canada, both sites promptly shut down their operations, halting the ability to make any bets. As part of this, players were able to withdraw their bankrolls and diminish their investments, which led to a fast draining of the hot wallets. Dooglus then had to get things in order by slowly moving funds around until everyone was able to withdraw their holdings without any problems. Within less than a week, the sites were desolate in terms of their crypto holdings, showing just how fast investors and players are at protecting their coins when issues arise.

In Comes PeerBet

The news of Just-Dice and Doge-Dice going down was bad, for sure. When it comes to finding other trusted sites, there just aren’t many that have a proven track record of both holding massive amounts of coin (keep in mind Just-Dice alone had the equivalent of around $20 million) and uptime. One site, however, has decided that they are going to try and fill that void: PeerBet.

PeerBet was acquired earlier this year by CasinoBitco.in and has since been somewhat stagnant. With Just-Dice out there, there really wasn’t much incentive to move over to the new platform. Ever since the fall of the other sites, however, PeerBet has been seeing increased play on its dice game. Although it has a pretty small bankroll still (as I write this it’s at around 175 BTC), it has been growing over time as the player base increases. It’s no Just-Dice, but CasinoBitco.in has proven that they are also a reputable site. Along with this, their operations are all able to be invested in (dice and the wheel game are done through PeerBet itself; the rest is done through CasinoBitco.in’s stocks on Havelock Investments). This puts them in a very good spot when it comes to remaining honest with players and not running off with funds.

The Future

It’s always hard to guess what is going to happen in the future. The hope is that Just-Dice and Doge-Dice will be able to return at some point with a different, legal structure. Dooglus has also stated that this is what he’s working towards. Until that happens, though, PeerBet is a great alternative!

 

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