Duelbits

Duelbits

Introduction

Duelbits is an online cryptocurrency casino and sportsbook that launched in 2020 and has since grown into a notable brand within the crypto gambling industry. It offers a platform for users to wager on traditional casino games and sports events using digital currencies, positioning itself at the intersection of online gambling and the rising popularity of crypto-assets. Duelbits originally gained traction by catering to a younger, tech-savvy demographic—often dubbed “Gen Z” gamblers—with innovative features and community-driven rewards programs that helped differentiate it from traditional online casinos. Today, it is recognized as a comprehensive crypto gambling platform that combines casino gaming, sports betting, and esports betting, all under a cryptocurrency-enabled ecosystem.

History & Founders

Duelbits was founded in early 2020 (formally launching in February 2020) amid a surge of interest in online gambling and esports betting during the COVID-19 pandemic. The founding team—described as Gen Z entrepreneurs—set out to create a gambling platform “by zoomers for zoomers,” initially centering the business on CS:GO skin betting. In its early days, Duelbits allowed users to gamble using Counter-Strike: Global Offensive in-game skins, a form of virtual item currency popular in the esports community. This skins-based gambling model proved successful and helped the company build an initial user base. Leveraging this momentum, Duelbits transitioned into crypto-based gambling by integrating support for cryptocurrencies later in 2020, enabling deposits and wagers in Bitcoin, Ethereum, and other major coins.

Throughout 2021, Duelbits expanded its offerings and scale. Notably, in December 2021 it launched a full online sportsbook, developed in-house, marking the platform’s evolution from a casino-only site into a hybrid crypto casino and sports betting operator. Around this time, the company also began hiring experienced iGaming professionals: for example, Marco Pinnisi (with over a decade in tier-1 iGaming firms) was brought on as Chief Marketing Officer—later becoming CEO—and Ross Haffie as Head of Sportsbook.

By 2022, Duelbits had grown from a small startup into a recognizable name in crypto gambling, reportedly expanding from just 10 initial team members to over 35 employees worldwide. While the identities of the original founders have not been heavily publicized, the company’s ownership is under Liquid Gaming N.V., a Curaçao-based iGaming company that operates Duelbits as its flagship (and apparently only) online casino brand. Key turning points in Duelbits’ history also include its foray into mainstream partnerships and marketing in 2022, reflecting a maturing strategy beyond its early esports niche.

Operations & Business Model

Cryptocurrency-Driven Gambling

Duelbits operates on a crypto-centric model, meaning all bets and transactions on the site are conducted in digital currencies rather than traditional fiat money. Players can deposit and wager with a variety of cryptocurrencies—Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Dogecoin (DOGE), Ripple (XRP), Binance Coin (BNB), Tron (TRX), Shiba Inu (SHIB), Tether (USDT), Solana (SOL), among others. The site converts all deposits into an internal bankroll unit pegged to USD—essentially 1 Duelbits coin equals \$1—to simplify betting across different crypto values. Withdrawals are then paid out in the user’s chosen cryptocurrency, as fiat cashouts are not directly offered. Duelbits also facilitates crypto purchases on-site through third-party services, effectively acting as a fiat on-ramp. Originally, the platform even allowed CS:GO skin deposits and withdrawals via a P2P marketplace mechanism, although this feature was eventually phased out.

Revenue Sources

Duelbits generates revenue through the house edge on casino games and the built-in margins in sports betting odds. All casino games have a mathematical edge favoring the casino; similarly, the sportsbook collects profit by offering odds with a bookmaker’s margin. Duelbits’ strategy emphasizes user retention via generous reward systems, returning a significant portion of the house edge back to players as cashback or other promotions. This “small margin, high volume” approach is common among crypto casinos, leveraging lower transaction costs and a global user pool.

VIP Program and Rakeback

A key pillar of Duelbits’ operation is its VIP loyalty program, featuring one of the industry’s highest rakeback rates. Top-tier players can receive up to 50% of the house edge returned via instant rakeback, plus weekly and monthly bonus structures. Even non-VIP players enjoy a relatively high base rakeback. In addition, Duelbits runs a robust referral and affiliate program, sharing a commission of referral-generated house edge with the referrer.

Private Company and Financials

Duelbits is privately held under Liquid Gaming N.V. and does not release detailed financial statements. As a crypto-focused, Curaçao-licensed operator, it is subject to less stringent reporting requirements than many traditional, publicly traded gambling firms. The platform’s sponsorship deals suggest it has a substantial marketing budget, presumably funded by profitable operations. Revenue primarily comes from casino games (especially slots) and the sportsbook, with the business model emphasizing global reach, crypto transactions, and loyalty-driven volume.

Platform Features & Offerings

Casino Games

Duelbits provides a large casino library of over 4,000 online slot games from numerous providers, including Pragmatic Play, NetEnt, Microgaming, Play’n GO, Hacksaw Gaming, and others. The site also hosts classic table games (blackjack, roulette, baccarat, poker variants) and exclusive in-house versions such as a custom “Duel Poker.”

Live Dealer Casino

Duelbits’ Live Casino section offers real-time, human-dealt games via live-stream providers such as Evolution Gaming. Players can join tables for blackjack, roulette, baccarat, and game-show style contests with interactive chat and HD video feeds. Reviews note a smooth streaming experience, a variety of table limits, and an immersive environment comparable to other top-tier live dealer sites.

Duelbits Originals (Provably Fair Games)

Duelbits has developed proprietary “Duelbits Originals,” a suite of arcade-style betting games that use provably fair algorithms. Examples include:

• Dice Duels – head-to-head dice rolls against an opponent.
• Minesweeper – revealing safe tiles without hitting a mine.
• Plinko – dropping a ball down a pegboard for multiplier payouts.
• Crash – a rising multiplier game where players must cash out before the line “crashes.”

These games allow cryptographic verification of fairness, a popular concept in crypto gambling circles.

Sportsbook

Duelbits runs a comprehensive sportsbook, offering bets on 50+ sports including football (soccer), basketball, American football, tennis, MMA, and niche categories like darts or Gaelic football. It supports both pre-match and live in-play wagering with real-time odds updates, multiple odds formats, and special promotions such as odds boosts and free bets. Duelbits also features esports betting markets (CS:GO, Dota 2, League of Legends, Valorant, etc.) and occasionally provides embedded streams for certain esports events.

Payment Options and Currency Support

Duelbits accepts over a dozen cryptocurrencies for deposits and withdrawals, with instant or near-instant processing. The platform’s wallet consolidates balances into USD-value units for simpler betting across multiple coins. For users without crypto, it integrates third-party services for purchasing crypto via credit/debit cards or gift cards. Minimum deposits are relatively low, while no maximum withdrawal limit is imposed for users, an attractive feature for high-rollers.

Promotions and Bonuses

Duelbits offers various promotions, including occasional welcome bonuses such as free spins or matched free bets. Its long-term emphasis is the continuous cashback and VIP rewards rather than large one-time deposit bonuses. The Ace’s Lounge VIP club provides tiered perks—rakeback, daily/weekly reload bonuses, monthly drops—as players move up levels. The site also hosts frequent tournaments and leaderboards, such as weekly Duelbits Originals competitions or daily slot races.

Partnerships and Branded Content

Duelbits leverages sponsorships and partnerships to offer themed promotions or special content. Examples include serving as the Official European Betting Partner of Aston Villa F.C. (English Premier League) and sponsoring Brazilian esports team paiN Gaming. In MMA, Duelbits partnered with Verdict MMA and introduced a “Fight Picks” integration for UFC fans. These alliances often come with co-branded odds boosts, promotional giveaways, or unique betting features.

Security, Compliance & Regulation

Licensing and Jurisdiction

Duelbits operates under a Curaçao eGaming license held by Liquid Gaming N.V. (Registration No. 153298). Curaçao’s licensing regime is generally more permissive than European or North American regulators, so Duelbits restricts access in jurisdictions where online gambling is illegal or requires a specific license (e.g., the United States, United Kingdom, India, Turkey, etc.).

Security Measures

The platform employs HTTPS encryption, stores passwords securely, and requires a certain number of blockchain confirmations for crypto deposits. Users can enable two-factor authentication (2FA) to protect accounts. In February 2024, Duelbits suffered a notable hack where attackers reportedly stole about \$4.6 million in crypto from one of its hot wallets. Duelbits acknowledged the breach and took steps to improve wallet security afterward.

Provably Fair Gaming

Duelbits’ in-house games employ provably fair algorithms, allowing players to verify game outcomes using cryptographic seeds and hashes. Third-party slot and live dealer games rely on external providers’ certifications (e.g., eCOGRA, iTech Labs).

Know Your Customer (KYC) and AML

Although users can register quickly with minimal upfront ID, Duelbits reserves the right to request identification documents for large withdrawals or suspicious activity. KYC involves submitting government-issued ID and proof of address. The platform also provides responsible gambling tools, including self-exclusion, deposit limits, and time-out features.

Legal Considerations

Due to its offshore license, Duelbits is not regulated by stricter regimes like the UKGC or US state authorities. As a result, Twitch banned the streaming of Duelbits in October 2022, citing its policy on unlicensed crypto casinos. Duelbits continues to operate primarily under Curaçao oversight, though upcoming regulatory reforms in Curaçao may impact its licensing in the future.

Notable Events & Controversies

2020 – Foundation and Launch

Duelbits officially debuted in February 2020, entering the market at a time when online gambling demand was rising due to pandemic conditions.

Late 2021 – Sportsbook Debut

In December 2021, Duelbits expanded from a casino-focused platform by launching its full sportsbook product in-house.

Mid 2022 – Entry into Sports Sponsorships

In July 2022, Duelbits announced a sponsorship deal with Brazilian esports organization paiN Gaming. In August 2022, the company became the Official European Betting Partner of Aston Villa F.C. for the 2022/23 season, gaining exposure in Premier League broadcasts (though specifically excluding UK promotions).

September 2022 – National Team Sponsorship

Duelbits was named a Regional Sponsor of the Argentine Football Association (AFA), aligning with Argentina’s national football teams in select markets.

October 2022 – Twitch Gambling Ban

In October 2022, Twitch banned streaming of Duelbits and similar crypto casinos under new restrictions aimed at unlicensed gambling sites.

Early 2023 – Snooker Tournament Sponsorship

Duelbits signed an agreement with the World Snooker Tour (WST) to title sponsor the 2023 Duelbits Series, covering three ranking events: World Grand Prix, Players Championship, and Tour Championship.

Early 2024 – Security Breach

On February 13, 2024, hackers compromised one of Duelbits’ crypto hot wallets, stealing approximately \$4.6 million. Duelbits confirmed the breach and implemented additional security measures post-incident.

May 2024 – Conor McGregor Partnership

In May 2024, Duelbits signed a partnership with MMA fighter Conor McGregor, naming him a brand ambassador and collaborator. The agreement involved exclusive content, live streams, and gaming tournaments, dubbed the “Race Against The Notorious.”

Market Position & Competitor Context

Duelbits is part of the rapidly growing crypto casino and sportsbook sector. It competes against other hybrid crypto gambling platforms such as Stake, BC.Game, Cloudbet, Rollbit, and FortuneJack. While it entered the market later than some early adopters, Duelbits gained a foothold via its origins in CS:GO skin betting and a strong emphasis on high rakeback rewards. Its mainstream sponsorships (Premier League, national football associations, snooker, and notable MMA figures) reflect a push toward brand-building and trust. Duelbits’ approach parallels similar strategies by other top-tier crypto casinos, focusing on marketing, community engagement, and a wide product offering to attract a global user base.

Miscellaneous Industry Insights

Duelbits’ evolution from a CS:GO skin-betting startup to a multi-vertical crypto casino offers insights into:

• The blending of esports culture with online gambling.
• The centrality of community and loyalty programs (e.g., extensive rakeback).
• The offshore regulatory model shared by many crypto casinos.
• Rapid product innovation spurred by intense competition.
• Adoption of sponsorships in mainstream sports and esports to gain credibility.