Topic: An idea for a fair new gambling site. - page 2. (Read 837 times)
Threre are enouph gambling site its looks like ponzi schema
So you are basically thinking of forming some "Legit Ponzi" gambling scheme.
Basically exactly like a Ponzi scheme except you know its a scheme and gambling so it might be somehow legal.
Basically 10 people send some BTC and the last person gets nothing after a certain period of time while the first 9 get equally divided up portions.
Is this what you are thinking?
Basically exactly like a Ponzi scheme except you know its a scheme and gambling so it might be somehow legal.
Basically 10 people send some BTC and the last person gets nothing after a certain period of time while the first 9 get equally divided up portions.
Is this what you are thinking?
You want to put each bet to blockchain? What about transaction fee?
Now it 30000 sat per transaction. It's too much.
That's a bit much. You can add whatever fee you want. Now it 30000 sat per transaction. It's too much.
Since Bitcoin transaction fees are very high so this concept will not a success because many people may want to bet a small amount to try the lottery.
Also, if you ask people to pay you 10% no one will even look into it. First, at least you should start with no house edge until you get more players then can add small house edge like 1 to 3%, not 10%.
So you wants to say that people will deposit their coins to give you 10% of their deposit?? Maybe your game can be probably fair but 10% house edge will be too much to ask.
Take a look at the fast lottery (faucethub.io/lottery). It's very similar to your idea/
Seems Dice is more profitable than this game... (And Dice isn't profitable).
Let's say we are playing a round with 1000 satoshis bet. 10 players = 10.000 satoshis; One will get 4000, other will get 3000, more 2000 to another gambler and 1000 satoshis goes to the house. 7 gamblers earn nothing...
The idea isn't bad, interesting concept, but it's still unprofitable like any other gambling game.
Maybe you want to show this game is needed because it would be a fair game, but I can say casinos offer fair games too, they use provably fair system, so it would depend the preference of each gambler.
The problem with this game is that you will always have to play with 30% winning chance and you always need at least 10 people to play a round.
Maybe someone can check your idea and introduce it on a casino like an experiment.
Let's say we are playing a round with 1000 satoshis bet. 10 players = 10.000 satoshis; One will get 4000, other will get 3000, more 2000 to another gambler and 1000 satoshis goes to the house. 7 gamblers earn nothing...
The idea isn't bad, interesting concept, but it's still unprofitable like any other gambling game.
Maybe you want to show this game is needed because it would be a fair game, but I can say casinos offer fair games too, they use provably fair system, so it would depend the preference of each gambler.
The problem with this game is that you will always have to play with 30% winning chance and you always need at least 10 people to play a round.
Maybe someone can check your idea and introduce it on a casino like an experiment.
You want to put each bet to blockchain? What about transaction fee?
Now it 30000 sat per transaction. It's too much.
That's a bit much. You can add whatever fee you want. Now it 30000 sat per transaction. It's too much.
You want to put each bet to blockchain? What about transaction fee?
Now it 30000 sat per transaction. It's too much.
Now it 30000 sat per transaction. It's too much.
I suppose 10% is a bit much. One player could get 5% (half their stake) back as well and maybe another with 3%. As long as there is a high turn over 2% would probably be enough.
Only issue could be transaction times. I don't want any user accounts. I don't store your details and you can't hack me. Players pay into pot address and get paid straight from it. Waiting for your transaction to clear would add another random element to the whole thing. Might be the case that you place your bets and once all the confirmations are in, the results are shown.
Only issue could be transaction times. I don't want any user accounts. I don't store your details and you can't hack me. Players pay into pot address and get paid straight from it. Waiting for your transaction to clear would add another random element to the whole thing. Might be the case that you place your bets and once all the confirmations are in, the results are shown.
So, I was pondering ponzi/HYIP investment sites and came up with what I think is a provably fair and fully transparent game. I was wondering if anyone else had had the idea before me and what you guys thought of it?
The idea is that the players pay x satoshis into an address. Quite simply, once ten deposits have been made the contents of the address is divided among the players. One gets 40%, one gets 30%, one gets 20% and the house gets 10%. This gives you a roughly 3:10 chance of winning (and there is no reason for the house to cheat as they get their 10% whatever). I am not a gambler, but I like those odds. The groupings of 10 would be based on the order of the transactions in the block chain and the winners would be picked based on the last digits of the last 3(ish) transactions ids. That would be fairly hard to fix from a players point of view. If you think its rigged then just check the blockchain.
On the whole, it would be fairly easy to implement and be pretty scalable. You could have games for bets of 100, 1000, 10000, 1000000, sats etc. You could have time based games. The pot is open for an hour and the winner is decided the same way but at greater odds.
What do you think?
The idea is that the players pay x satoshis into an address. Quite simply, once ten deposits have been made the contents of the address is divided among the players. One gets 40%, one gets 30%, one gets 20% and the house gets 10%. This gives you a roughly 3:10 chance of winning (and there is no reason for the house to cheat as they get their 10% whatever). I am not a gambler, but I like those odds. The groupings of 10 would be based on the order of the transactions in the block chain and the winners would be picked based on the last digits of the last 3(ish) transactions ids. That would be fairly hard to fix from a players point of view. If you think its rigged then just check the blockchain.
On the whole, it would be fairly easy to implement and be pretty scalable. You could have games for bets of 100, 1000, 10000, 1000000, sats etc. You could have time based games. The pot is open for an hour and the winner is decided the same way but at greater odds.
What do you think?
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