BETGALAXY.IO PROFIT SHARING CASINO - $500 DAILY SLOT RACES - $200,000 POOL - page 2.

tjun.bct

newbie

Activity: 3

Merit: 0

Long time follower of the forum, but just created an account now.

I gave BetGalaxy a try. Here are my impressions:

Account creation process was simple enough.
Deposit (using TRX) was smooth and fast.
Withdrawals got delayed (already addressed by OP), but always completed within 8 hours.
UI has minor bugs, but not going to spoil the experience.
Games are extensive and connection to the third-party servers are quite stable.
Profit-sharing model seems solid.

Now into the bigger points resolving their unique div pool system.

The documentation is extremely minimal.
The Dividend Rewards cannot be used to play, which is a bummer. If you collect 25 USDT over time from the div pool, while the avg. network cost to withdraw is also 25 USDT, you basically get nothing.
For now, it also does not seem possible to withdraw the div rewards in multiple tokens unless you have deposited the said token. So if you deposited only TRX, then it is the only token that you can withdraw even though you get the div rewards in 10+ different tokens.
Finally, it is a HUGE disappointment to know that after the mining got to Level 2 yesterday, the mining cost stays at $0.05, instead of increased to $0.1. It was even tweeted as if it was a good news. This means for the early players, the decay rate stays the same and the minted COSMO tokens will burn out much faster as well. More importantly, it indicates that the mint cost is set manually or the algorithm can be tempered. So at any point, the house can change the rules instead of following what they stated in the whitepaper.

Hopefully, OP can address my concerns.

BetGalaxyADM

copper member

Activity: 70

Merit: 10

Owner Of Betgalaxy.io Profit-Sharing Casino

Full dividend history is now restored!

BetGalaxyADM

copper member

Activity: 70

Merit: 10

Owner Of Betgalaxy.io Profit-Sharing Casino

Update:

1) SECOND PROFIT-SHARE PAYOUT IS OUT ~$7500. Another ~75,000 COSMO TOKENS BURNED RECYCLED. We will add a UI box to view burned and remaining circulating supply of cosmo soon.

2) View Dividend Payout History To Your Wallet Right here

**Screenshot provided by a betgalaxy player

3) Players can choose to play with all currencies on our website, therefore dividends must be paid out in all currencies to our players.

4) Signup Bonus GLXY will be credited in the coming 72 hours, the delay is due to the point below!

5) UPCOMING EVENTS: DAILY RACES + SLOTS RACES WILL BE COMING SOON - STAY TUNED FOR A BIG ANNOUNCEMENT

Sasko86

newbie

Activity: 4

Merit: 0

First divs payout went smooth. pool looks good as well, keeps growing steadily. Lets see where this goes.

Also, why are the divs in multi-currency?
Are there any events planned in the near future?

Would definately need a launch event imo. Or a re-launch event so to say

[moderator's note: consecutive posts merged]

BetGalaxyADM

copper member

Activity: 70

Merit: 10

Owner Of Betgalaxy.io Profit-Sharing Casino

First Dividend Update:

1) FIRST DIVS ARE OUT ~$7380 paid out in all currencies found on our website. Dividends are found instantly in your balance

2) Div Pool Back at 238k, 3% Daily Payouts

3) ~73,800 COSMO TOKENS BURNED RECYCLED
These tokens are added to a new stage at the end of the 10 levels.

BetGalaxyADM

copper member

Activity: 70

Merit: 10

Owner Of Betgalaxy.io Profit-Sharing Casino

UPDATE

-Initial Post Updated To Better Explain Profit Sharing System

-First Profit-Sharing Payout in 22 Hours From $240,000 Dividend Pool

-Stage 1 Of Mining COSMO is 96% Done

-Withdraws Are Processed Twice Delay Until Automation Is Live

-New User Giveaway https://twitter.com/BetGalaxyCasino/status/1489684147148886024

huynhthai12384

jr. member

Activity: 265

Merit: 1

I was deposited and mine over 10 COSMO . how i can received GLXY Huh

BetGalaxyADM

copper member

Activity: 70

Merit: 10

Owner Of Betgalaxy.io Profit-Sharing Casino

I will further simplify the OP post later this evening to clarify how the site and profit-sharing elements work.

BetGalaxyADM

copper member

Activity: 70

Merit: 10

Owner Of Betgalaxy.io Profit-Sharing Casino

Quote from: jerrison on February 03, 2022, 07:55:48 PM

Quote from: BetGalaxyADM on January 06, 2022, 04:58:33 PM

Quote from: 24Kt on January 06, 2022, 04:46:35 PM

Quote from: BetGalaxyADM on January 06, 2022, 04:19:09 PM

Quote from: ?? on ??

That's really great to here. I see a lot of sites have tried burning mechanics and they don't work.

I've seen some auction games, but they barely do anything.
Even crypto's and DeFi run into burning problems like Cake, their supply keeps mooning.

I think the dilution rate is set at a good spot to not let the early guys endlessly earn profits but to still earn big profits.

I think GLXY is also not important to everyone right? This token is just carrying forward previous holders of a previous project? So newcomers can just mine without worrying about that?

We agree, the decay rate allows for a mathematical method to prevent any dilution problem from ever becoming a threat to the model.

And correct, GLXY is not required or important for new players. It is our token holders who have been invested in our success for the past few years.

When will your gambling site be online? Because from the OP, I haven't seen the link yet for your casino. Also, it means, there are already token holders for this GLXY. Can you share the contract address if it is already available? As you said above, you already have token holders who invested in the past years.

BetGalaxy.io --- We will be announcing the launch date in the coming weeks and expect to have 2.0 online and available for public play by the end of this month.

Galaxy Token (GLXY) is our existing token: https://www.bscscan.com/address/0x1c58F9031fBCFd99aFb3d39071d199416FF25353
We launched BetGalaxy in the Summer of 2021, and recently began the rework to the 2.0 model.

Has the model 2.0 been released or its still functioning on the first version as i see there are already incentives that are being allocated to the new signups. I would have oved to keep tabs of the latest developments on the project via this thread but i guess i will have to look into twitter for more prompt updates.

The 2.0 version is the current version available.

BetGalaxyADM

copper member

Activity: 70

Merit: 10

Owner Of Betgalaxy.io Profit-Sharing Casino

Quote from: rijaljun on February 03, 2022, 06:37:59 PM

I think it's all a bit vague at the moment. The information available now will not be clear to many users. This is a gambling thread, usually full announcements are made and completely different topics are discussed. Perhaps you can reinforce the subject by some extra explanation about this project?

I will try to make this post more clear here.

This is a Profit-sharing casino.

All of the casino profit is given to 3 different groups of people

Group 1 (20% of the profit): The house / The Team / The owners of the site

Group 2 (30%): We have carried over users from older projects with GLXY tokens

Group 3 (50%): Players who plat on betgalaxy.io , all wagers are rewarded with Cosmo tokens.

Cosmo tokens are earned relative to the house edge. At the current stage the cost is $0.05.
This means that a $100 wager on dice at a 1% edge projects you to lose $1 and will mine 20 Cosmo.
A $100 wager on slots at a 4% edge projects you to lose $4 and will mine 80 cosmo.

You receive your cut of the dividend based on how many cosmo you have, compared to all the cosmo in existence.

Everytime you receive 2x the cost of a token it burns.

Let's say you have 80 cosmo and receive a $1 dividend. 10 cosmo will burn.

jerrison

full member

Activity: 1442

Merit: 106

Quote from: BetGalaxyADM on January 06, 2022, 04:58:33 PM

Quote from: 24Kt on January 06, 2022, 04:46:35 PM

Quote from: BetGalaxyADM on January 06, 2022, 04:19:09 PM

Quote from: ?? on ??

That's really great to here. I see a lot of sites have tried burning mechanics and they don't work.

I've seen some auction games, but they barely do anything.
Even crypto's and DeFi run into burning problems like Cake, their supply keeps mooning.

I think the dilution rate is set at a good spot to not let the early guys endlessly earn profits but to still earn big profits.

I think GLXY is also not important to everyone right? This token is just carrying forward previous holders of a previous project? So newcomers can just mine without worrying about that?

We agree, the decay rate allows for a mathematical method to prevent any dilution problem from ever becoming a threat to the model.

And correct, GLXY is not required or important for new players. It is our token holders who have been invested in our success for the past few years.

When will your gambling site be online? Because from the OP, I haven't seen the link yet for your casino. Also, it means, there are already token holders for this GLXY. Can you share the contract address if it is already available? As you said above, you already have token holders who invested in the past years.

BetGalaxy.io --- We will be announcing the launch date in the coming weeks and expect to have 2.0 online and available for public play by the end of this month.

Galaxy Token (GLXY) is our existing token: https://www.bscscan.com/address/0x1c58F9031fBCFd99aFb3d39071d199416FF25353
We launched BetGalaxy in the Summer of 2021, and recently began the rework to the 2.0 model.

Has the model 2.0 been released or its still functioning on the first version as i see there are already incentives that are being allocated to the new signups. I would have oved to keep tabs of the latest developments on the project via this thread but i guess i will have to look into twitter for more prompt updates.

BitcoinHunt3r

legendary

Activity: 2926

Merit: 1155

Leading Crypto Sports Betting & Casino Platform

Quote from: BetGalaxyADM on February 03, 2022, 12:52:54 PM

So cosmo gets 50% of divs. Similar to other platforms like chips or BF. Exactly, we have the staking system, that's why no cashback and other usual bonuses. We still plan to add them in the future.

GLXY gets 30% of divs and mints you cosmo tokens to get you the divs. Token address: 0x1c58F9031fBCFd99aFb3d39071d199416FF25353

House effectively only gets 20% of divs.

Yes I'm starting to understand it and need to look further and good idea if you plan to add other bonuses like rakeback because this is good for business competition
By the way what's the latest regarding the launch of Betgalaxy 2.0? I don't see any changes except withdrawal delay, recent news also doesn't publish articles
The positive thing that I see is that the admin here is quite active in responding and informing the latest developments, keep going.

rijaljun

sr. member

Activity: 1274

Merit: 267

I think it's all a bit vague at the moment. The information available now will not be clear to many users. This is a gambling thread, usually full announcements are made and completely different topics are discussed. Perhaps you can reinforce the subject by some extra explanation about this project?

BetGalaxyADM

copper member

Activity: 70

Merit: 10

Owner Of Betgalaxy.io Profit-Sharing Casino

Quote from: BitcoinHunt3r on February 03, 2022, 11:25:19 AM

Quote from: Bitinity on February 02, 2022, 06:37:12 PM

Quote from: BitcoinHunt3r on February 02, 2022, 04:31:17 PM

Thank you for the free coupon at least I've tried my experience playing here so far not bad all ok but what surprised me was the Rank System
Rank Cosmic3 total wager required $5000 rank-up bonus $2.5 Cosmic4 wager required $50000 rank-up bonus $25 and no cashback?
Cashback and rank up bonus is a mainstay promotion on almost all sites so it might be a good idea if it's updated.

They have different system, it is similar to chips. Afaik there is no cashback/rakeback as well on chips but players are getting dividend by staking/mining the in house token. The more you wager, the more in house token you get = the higher percent you get from the dividend pool. It is understandable if there is no cashback due this this staking system because I see that many other sites with the same system also not having cashback/rakeback.

Oh so they use a different system I don't understand how this works but I'll wait and see if this compares to what I get on other sites
BTW anyone know the contract address of their token (GLXY) I've been looking for it but can't find it a bit confusing what their token name actually is
I found uTOPIA token on the BSC network the one posted on the official twitter

So cosmo gets 50% of divs. Similar to other platforms like chips or BF. Exactly, we have the staking system, that's why no cashback and other usual bonuses. We still plan to add them in the future.

GLXY gets 30% of divs and mints you cosmo tokens to get you the divs. Token address: 0x1c58F9031fBCFd99aFb3d39071d199416FF25353

House effectively only gets 20% of divs.

Quote from: LUCKMCFLY on February 02, 2022, 09:47:31 PM

There are great things that can be done, I like how the platform is growing, in fact it is a great idea to offer $1 for the first 20 registered, Wow, it's a shame I can't hit that 250 GLXY. I have had my account since 2021, and it is encouraging to see that they continue growing up, i mostly like the platform as it is with crash. There is also something that catches my attention is that they do not have a wager requirement, which is a break for many who want to win without having to bet to comply, because many times everything is lost in the play.

The GLXY will be sent out after first dividend if you are in the first 500 players

We made this change to make it easier to credit!

BitcoinHunt3r

legendary

Activity: 2926

Merit: 1155

Leading Crypto Sports Betting & Casino Platform

Quote from: Bitinity on February 02, 2022, 06:37:12 PM

Quote from: BitcoinHunt3r on February 02, 2022, 04:31:17 PM

Thank you for the free coupon at least I've tried my experience playing here so far not bad all ok but what surprised me was the Rank System
Rank Cosmic3 total wager required $5000 rank-up bonus $2.5 Cosmic4 wager required $50000 rank-up bonus $25 and no cashback?
Cashback and rank up bonus is a mainstay promotion on almost all sites so it might be a good idea if it's updated.

They have different system, it is similar to chips. Afaik there is no cashback/rakeback as well on chips but players are getting dividend by staking/mining the in house token. The more you wager, the more in house token you get = the higher percent you get from the dividend pool. It is understandable if there is no cashback due this this staking system because I see that many other sites with the same system also not having cashback/rakeback.

Oh so they use a different system I don't understand how this works but I'll wait and see if this compares to what I get on other sites
BTW anyone know the contract address of their token (GLXY) I've been looking for it but can't find it a bit confusing what their token name actually is
I found uTOPIA token on the BSC network the one posted on the official twitter

BetGalaxyADM

copper member

Activity: 70

Merit: 10

Owner Of Betgalaxy.io Profit-Sharing Casino

Dividend Pool Almost At 200k!

-----------------------------------------------------------------------------------------------------------------------------------
How To Maximize Cosmo's Earned

Players that don't want to gamble and only want to invest in the success of the casino can mine COSMO tokens by autobetting dice on maximum 98% win chance using 1% of their bankroll per bet. Most users do this as the best way to accumulate COSMO tokens. This process is simple and does not require focus to get a big wager in. Then you can sit back and collect your piece of the pie.

-----------------------------------------------------------------------------------------------------------------------------------
First Dividend Pool Distribution Extended

Due to our withdraw processing delays. We have extended the first dividend to 48 hours from now! The first payout will be February 5th, 1:00 PM EST. It is not too late to get in on the first payout!

BetGalaxyADM

copper member

Activity: 70

Merit: 10

Owner Of Betgalaxy.io Profit-Sharing Casino

Quote from: BitcoinHunt3r on February 02, 2022, 04:31:17 PM

Thank you for the free coupon at least I've tried my experience playing here so far not bad all ok but what surprised me was the Rank System
Rank Cosmic3 total wager required $5000 rank-up bonus $2.5 Cosmic4 wager required $50000 rank-up bonus $25 and no cashback?
Cashback and rank up bonus is a mainstay promotion on almost all sites so it might be a good idea if it's updated.

We are doing things a little differently at the start. Rather than offering cashback that every casino has, we have an even better system. It is the dividend pool. If you go see the dividend and look at your cut, it will last longer and it is higher than you would have gotten in cashback anywhere else!

BetGalaxyADM

copper member

Activity: 70

Merit: 10

Owner Of Betgalaxy.io Profit-Sharing Casino

Official Statement Regarding Withdraws

All are processed. 2 withdraws have not been processed as of yet because they did not meet AML requirements. Depositing and withdrawing without wagering breaches AML.

We are in the final test of the correction to the w/d system. It could be fully operational soon as well, but we wanted to make sure the payments were sent out, and allow us a bit of time to fully test and insure it is sound.

Thank you again for the patience. Now we can go back to partying and breaking $200K divs Cheesy

BetGalaxyADM

copper member

Activity: 70

Merit: 10

Owner Of Betgalaxy.io Profit-Sharing Casino

Quote from: poer on February 02, 2022, 08:59:31 AM

wd id 1308
01/02/2022 06:25 PM
TRX
104.10000000
onHold

24 hours not recevier my wallet

TT3LdsSxxSmpFdrnpERXjDZ22L5tX125hc

Hi. All Withdraws have now been processed we apologize for the delay.

D.t.B

jr. member

Activity: 38

Merit: 2

Looking forward to see how betgalaxy develops in the future as I like the concept.

I will write the betgalaxy review soon.

Topic: BETGALAXY.IO PROFIT SHARING CASINO - $500 DAILY SLOT RACES - $200,000 POOL - page 2. (Read 1104 times)