Just wanted to bring up an interesting topic that some of you who were around during the early days of crypto gambling might remember, double spending exploits, especially during the dice era.
Back then, some casinos didn’t require any confirmation for deposits. As long as the transaction appeared on the blockchain (even unconfirmed), the account would get credited instantly. sounds convenient, right? But that’s where some smart gamblers took advantage and pulled off double spends, sending the same transaction elsewhere before it confirmed, basically reversing the original deposit.
I wasn’t that deep into it during those times and didn’t fully understand what was going on, but I’ve heard that this exploit caused real losses for some platforms. That’s probably why most casinos today require at least 1 confirmation before crediting your wallet.
question...
(1) Were there any casinos that actually got hit badly because of this?
(2)Is there any known case with a reported loss figure?
I remember those dice games. I first saw them on an exchange called Yobit, which had a dice games feature. That's where I started playing and had some big wins.
My strategy back then was the martingale system.
I could turn my 1,000 sats into 30,000 sats when I was lucky, but that didn't happen all the time. At first, it was a bit addicting, but eventually,
I just kept losing when I played the dice games.