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Interview with Philip Aaker, CEO mBit Casino

Interview with Philip Aaker, CEO mBit Casino

mBit Casino has become a leading brand in the world of Bitcoin casino.  The Bitcoin Strip got to catch up with their CEO, Philip Aacker, to get his take on all things technology, crypto and the future of mBit Casino.

TBS: mBit launched in 2014, long before most people had heard of the cryptocurrency. What inspired the decision to launch your casino at such an early stage?

mBit: The universe of crypto is a very fascinating one, and came with some innovative concepts that had the potential to revolutionize the entire monetary system as we know it. As such, where others saw ambitions that seem too high to live up to, we saw an opportunity – an opportunity to do something better, faster, stronger, than what was already out there. And thus, mBit Casino was born.

TBS: How do cryptocurrency players differ from traditional ones or are the two groups very similar?

mBit: Cryptocurrency players are traditional players that made the leap of faith when crypto started becoming a thing, and time has proven that it was a wise choice. Cryptocurrencies have numerous advantages over FIAT currencies, and especially when talking about an industry where anonymity and transaction speed are crucial, there only one clear winner – crypto! Cryptocurrency players understand these advantages, and make the most out of them, resulting in a significantly improved gambling experience.

TBS: What technologies are you hoping to introduce in the future? Do you see much benefit in using Lightning Network for Bitcoin deposits?

mBit: The Lightning Network did catch out eye, as it is a technology that looks very promising on paper. However, at this time it did not prove that it can live up to its claims just yet, and adds another layer of complexity to a system that was bound to be simple and transparent. Given the fact that simplicity, transparency and security are key factors in the industry we operate in, we don’t really feel that we can make use of the Lightning Network at this point in a manner that would add real value to what we do.

TBS: We are seeing massive growth in stablecoins. mBit currently list Tether (USDT) – are there plans to include more?

mBit: mBit casino is all about crypto, but even more so, all about our players’ demands. We started out with Bitcoin, and based on popular demand from our players, we expanded our portfolio to include Bitcoin Cash, DOGE, Litecoin, Ethereum, and Tether. While across the industry there may be growth and demand for stablecoins, we did not see that in our players’ demands, so we do not intend to pursue a trend that has no real demand within our business, but would rather focus on improving in areas where demand exists.

TBS: Where do you see mBit casino in 5 years time? Is the cryptocurrency gambling space still “early”?

mBit: In 5 years time, we’ll reach the Moon! mBit Casino has had a great lift off right from the start, and its trajectory has been an ascending one ever since. Cryptocurrency gambling is mature enough to have demonstrated tremendous benefits over traditional gambling, and the overall crypto industry is getting more popular by the day, so we’re convinced that we’re yet to see the greatest of what this perfect combination has to offer, and we’re ready to make the most out of it. Our goal is to become the leading crypto casino, and to help shape the future of not only crypto gambling, but also crypto itself.

TBS: Thanks for taking the time to speak with us today!

Published by Jen Van Lier

Jen Van Lier

About the author

As website manager, Jen contributes reviews and updates to The Bitcoin Strip on a daily basis. Jen worked in the casino industry for 9 years before focusing on Bitcoin in 2016. She writes on subjects ranging from traditional slots all the way through to unique Bitcoin games, provable fairness and Ethereum smart contract gambling.

Last updated by Nick Hawke on June 29, 2020

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About the editor

Nick is the CEO and founder of The Bitcoin Strip and has reviewed and written about Bitcoin casinos, sportsbooks and poker rooms for 9 years. He first entered the Bitcoin gambling market in 2011 following a widespread closure of poker rooms in the US.

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