Topic: BETMODE: First Web3 Casino with Full Transparency Bankrolls! (Read 1092 times)
sr. member
Activity: 714
Merit: 251
Learning here every day—thanks to everyone sharing
A signature campaign of only 1 week is not enough to have any impact. It could be much better if the team would have chosen to continue the signature campaign and making change as the situation deemed fit. I hope BETMODE team listening the voices
As far as this company goes, looks like they ran a little 1 week campaign and didn't get the results they thought they would.
I think they encountered some problem with their bankroll. Since the last time I check when this casino started their ANN thread it’s on 80K$ each for the 3 currencies but right now it’s only around 30K$ each more or less which means there’s a sudden loss encountered by this casino for a period of just 1 week.
Either someone manage to win big or the owner removed some of its liquidity to the bankroll and plan to use it on other things.
A 1 week campaign is a waste of money imo.
As far as this company goes, looks like they ran a little 1 week campaign and didn't get the results they thought they would.
I think they encountered some problem with their bankroll. Since the last time I check when this casino started their ANN thread it’s on 80K$ each for the 3 currencies but right now it’s only around 30K$ each more or less which means there’s a sudden loss encountered by this casino for a period of just 1 week.
Either someone manage to win big or the owner removed some of its liquidity to the bankroll and plan to use it on other things.
A 1 week campaign is a waste of money imo.
As far as this company goes, looks like they ran a little 1 week campaign and didn't get the results they thought they would.
They’re on pause right now, but I think that one week isn’t enough time to see real results. If a company wants to invest in a signature campaign, they should commit to at least three months to properly measure the impact. The number of users also matters a lot. It doesn’t have to be a super high-paying campaign, but the rate shouldn’t be too low either because that would only attract low-quality posters. I really hope they consider continuing the campaign with more participants, especially since they’re still new to the community.
Welcome to Bitcointalk!!! You should look to purchase a Copper membership from the forum admins and present your casino with a proper announcement. You will be able to post images once you have a copper membership.
Good luck on the forum and if you decide to do any marketing feel free to reach out to me.
….Good luck on the forum and if you decide to do any marketing feel free to reach out to me.
No doubt, you are a good CM, I've worked with you, but telling a new member to directly contact you when he knows nothing about you could be a bit odd/off. Don't you think you should let him know what you do on the forum as CM, with a redirecting link to your marketing page to avoid suspicion since he doesn't know who is who yet?
Besides, what is the use of;
1. His animated avatar?
2. Personal text
3. Most positive trust rating literally talking about how good of a campaign manager he is.
If a potential client can not even see any of that, then I doubt he will see the marketing page.
A simple link embedded in a single word that could direct the OP to his managerial page can't hurt.
As far as this company goes, looks like they ran a little 1 week campaign and didn't get the results they thought they would.
Welcome to Bitcointalk!!! You should look to purchase a Copper membership from the forum admins and present your casino with a proper announcement. You will be able to post images once you have a copper membership.
Good luck on the forum and if you decide to do any marketing feel free to reach out to me.
….Good luck on the forum and if you decide to do any marketing feel free to reach out to me.
No doubt, you are a good CM, I've worked with you, but telling a new member to directly contact you when he knows nothing about you could be a bit odd/off. Don't you think you should let him know what you do on the forum as CM, with a redirecting link to your marketing page to avoid suspicion since he doesn't know who is who yet?
Besides, what is the use of;
1. His animated avatar?
2. Personal text
3. Most positive trust rating literally talking about how good of a campaign manager he is.
If a potential client can not even see any of that, then I doubt he will see the marketing page.
A simple link embedded in a single word that could direct the OP to his managerial page can't hurt.
I was trying to register, but found out sign up is not required. One can simply connect to wallet and play.
As the title says, betmode is a web3 casino which eans you can start playing just by connecting your web3 wallet. There is no need to create an account. Many casinos and service providers support this feature which makes the user’s life easier.Quote
the only thing that it lacks is offering play with only very limited number of currencies. Do you have plans on adding more Altcoins?
For the time being, they only accept usdc (on different chains). However, according to their roadmap they are supposed to add support for more coins on the 4th quarter of this year (soon). 
Welcome to Bitcointalk!!! You should look to purchase a Copper membership from the forum admins and present your casino with a proper announcement. You will be able to post images once you have a copper membership.
Good luck on the forum and if you decide to do any marketing feel free to reach out to me.
….Good luck on the forum and if you decide to do any marketing feel free to reach out to me.
No doubt, you are a good CM, I've worked with you, but telling a new member to directly contact you when he knows nothing about you could be a bit odd/off. Don't you think you should let him know what you do on the forum as CM, with a redirecting link to your marketing page to avoid suspicion since he doesn't know who is who yet?
Besides, what is the use of;
1. His animated avatar?
2. Personal text
3. Most positive trust rating literally talking about how good of a campaign manager he is.
If a potential client can not even see any of that, then I doubt he will see the marketing page.
sr. member
Activity: 714
Merit: 251
Learning here every day—thanks to everyone sharing
I was trying to register, but found out sign up is not required. One can simply connect to wallet and play. Site looks good and attractive and so does choice of games but the only thing that it lacks is offering play with only very limited number of currencies. Do you have plans on adding more Altcoins?
Sometimes all what attracts gamblers to a casino is not even based on the license or how big but I think a lot of promotional offers and bonus always get some gamblers active and wanting to test out.
Lets not bother ourself on what is not possible, there is no how we could know about this information you're talking about, they cant expose themself when they are quite aware of the repercussion in doing it, as for now, what we cant afford to gamble with shouldn't be used on our account balance on their platform, because they could lay an embargo and we feels bad at the cause.
There’s a lot of casino especially new that doesn’t even have a transparent bankroll yet many people keep playing on this without questioning bankroll capability and relying only on their license.
This casino transparent bankroll should be required on every casino existing to make everything transparent and aside from trusting the casino reputation alone.
This is always my dilemma when trying to experiment on new casino since they might hold my balance if I won huge amount if they have low bankroll to payout.
This casino transparent bankroll should be required on every casino existing to make everything transparent and aside from trusting the casino reputation alone.
This is always my dilemma when trying to experiment on new casino since they might hold my balance if I won huge amount if they have low bankroll to payout.
I want to know so is it possible to actually get to know the exact amount of bankroll a new casino is having? Because I believe many gambler don't know or have access to this as they would definitely not have trust in playing on a casino which balance or bankroll is not sufficient enough to cover a big win from the gambler.
Sometimes all what attracts gamblers to a casino is not even based on the license or how big but I think a lot of promotional offers and bonus always get some gamblers active and wanting to test out.
A cold wallet by definition, is an offline wallet which never connects to the internet or to any other device or network. Therefore, I don’t think it’s possible to automate the process of topping up the hot wallets from the cold wallet.
The owner or one of the admins have to do it manually whenever needed.
I agree with you and automatic process is more appropriate for moving cryptocurrency from hot wallets to cold wallets. Like on centralized exchanges, users make deposits and exchanges will move these coins from hot wallets to cold wallets automatically.The owner or one of the admins have to do it manually whenever needed.
One platform usually will have more than one hot wallet, more than one cold wallet and they can top up one hot wallet with another hot wallet, but as explained I agree with that procedure from cold wallet to hot wallet is manually processed by a platform founder, co-founders and co-signers sometimes.
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Anyways, as long as the hot wallets are known to everyone and anyone can check their balance to see if they have enough coins then there is nothing to worry about.
Yeah, they even don't check balance of a business hot wallet if their withdrawals are approved and proceeded quickly. They usually pay attention on checking balance of a hot wallet, if withdrawals take too long time to be processed. Some platforms don't have automatic procedure for topping hot wallets and have issues of annoying delay in user withdrawal processing like some old casinos, BitVest and 777coin.
A cold wallet by definition, is an offline wallet which never connects to the internet or to any other device or network. Therefore, I don’t think it’s possible to automate the process of topping up the hot wallets from the cold wallet.The owner or one of the admins have to do it manually whenever needed.
Anyways, as long as the hot wallets are known to everyone and anyone can check their balance to see if they have enough coins then there is nothing to worry about.
Agreed on this statement. Hot wallet is transparent which means every player can track whether the casino can pay or not. There’s a lot of casino especially new that doesn’t even have a transparent bankroll yet many people keep playing on this without questioning bankroll capability and relying only on their license.
This casino transparent bankroll should be required on every casino existing to make everything transparent and aside from trusting the casino reputation alone.
This is always my dilemma when trying to experiment on new casino since they might hold my balance if I won huge amount if they have low bankroll to payout.
hero member
Activity: 462
Merit: 767
Instant cryptocurrency exchange with own reserves!
Once a casino claim to have transparent bankroll, means that the revealed bankroll is the only one they are willing to use to pay winnings on the casino unless there is written somewhere else that they will also pay from other wallets when someone win more than the revealed bankroll.
I believe they have more money outside the bankroll, but my main point is specifically about winning per bet because if they do not specify how much they can afford to pay per bet then their current revealed bankroll might be lost within few winning bets even a single bet only by Whale.
I'll wait for betmode to clarify about it, because most casinos apply this max profit per bet depending on their bankroll in order to have a healthy business.
I believe they have more money outside the bankroll, but my main point is specifically about winning per bet because if they do not specify how much they can afford to pay per bet then their current revealed bankroll might be lost within few winning bets even a single bet only by Whale.
I'll wait for betmode to clarify about it, because most casinos apply this max profit per bet depending on their bankroll in order to have a healthy business.
You have a valid point.
But it is up to them if they decide players to win whatever they can and get broke. But knowing the fact that they have a bankroll around a hundred thousand dollars, I don't think whales will play there and bet a thousand dollars. Running a casino platform with a hundred-thousand-dollar bankroll isn't the end of the world. Hundreds of platforms never revealed their bankroll.
You never know if you have made a thousand-dollar deposit and played while your bankroll was less than ten thousand dollars. Not every casino starts with a million-dollar bankroll, which is another reason some casinos delay withdrawals when there are big withdrawals. I would appreciate a platform to reveal one's big or low bankroll.
Some platforms don't have automatic procedure for topping hot wallets and have issues of annoying delay in user withdrawal processing like some old casinos, BitVest and 777coin.
A cold wallet by definition, is an offline wallet which never connects to the internet or to any other device or network. Therefore, I don’t think it’s possible to automate the process of topping up the hot wallets from the cold wallet.The owner or one of the admins have to do it manually whenever needed.
Anyways, as long as the hot wallets are known to everyone and anyone can check their balance to see if they have enough coins then there is nothing to worry about.
I have thought about it and realized that even if they do not have more funds outside the hot wallet, it will serve as a warning to any high roller, and they will simply avoid the platform.
This practice is no longer common and is unacceptable with many cryptocurrency platforms. Many terrible hacks on hot wallets in the past and killed many businesses so companies recent years change their practice, from hot wallets to cold wallets for their business treasuries.Hot wallets are used only for storing small part of their business treasuries and used for processing user withdrawals. If their hot wallets are hacked, they will not lose most or main part of their business treasuries and they will be able to continue operation and recover from hack accidents.
Some platforms don't have automatic procedure for topping hot wallets and have issues of annoying delay in user withdrawal processing like some old casinos, BitVest and 777coin.
You are right in the sense that 'one should not keep all the eggs in one basket,' and that's why they have three separate wallets in different cryptocurrencies. My argument was whether these are the total eggs they've got, or if they have more eggs in the freezer, or if they are expecting more from hens (investors).
What is stopping them from providing proof of funds from cold storage? IMHO, they must limit the max win or provide more proof since they are claiming to be 100% transparent. If you think 100% transparent means showing only 10%, then I have no argument left.
We are still waiting for an official reply from the platform in question (earlier they provided an instant reply with an exact link to see their bankroll).
I have thought about it and realized that even if they do not have more funds outside the hot wallet, it will serve as a warning to any high roller, and they will simply avoid the platform.
This practice is no longer common and is unacceptable with many cryptocurrency platforms. Many terrible hacks on hot wallets in the past and killed many businesses so companies recent years change their practice, from hot wallets to cold wallets for their business treasuries.Hot wallets are used only for storing small part of their business treasuries and used for processing user withdrawals. If their hot wallets are hacked, they will not lose most or main part of their business treasuries and they will be able to continue operation and recover from hack accidents.
Some platforms don't have automatic procedure for topping hot wallets and have issues of annoying delay in user withdrawal processing like some old casinos, BitVest and 777coin.
my main point is specifically about winning per bet because if they do not specify how much they can afford to pay per bet then their current revealed bankroll might be lost within few winning bets even a single bet only by Whale.
I have thought about it and realized that even if they do not have more funds outside the hot wallet, it will serve as a warning to any high roller, and they will simply avoid the platform. On the other hand, the majority of normal players (potential small max winners) will surely prefer them as they will have confidence that the casino has the money, which is missing in the majority of other casinos. I mean, whether you are a high roller or not, you do not have a clue about other new platforms and if they even have the capacity to pay you (willingness is another thing 
).So in this case, at least non-high rollers are protected in some psychological sense.
If there is no max win per bet rule, I'm wondering how will you pay player's winning if the amount is lets say 3x or even bigger than your current bankroll?
This is a valid point to discuss. While they know the possibility, I guess new platforms do not get many high rollers at the beginning before they build some reputation or at least stay for a while on the market. We have seen people win millions in casinos. A hundred thousand dollars is too low compared to that. I am also curious if they have a max win limit or a daily or weekly withdrawal limit.
It is also possible that they have money, but they did not keep it in their bankroll for some security reason. Exchanges and casinos usually move their funds from a hot wallet to somewhere else to avoid possible incidents. I'm not sure what the case is for Betmode.
Once a casino claim to have transparent bankroll, means that the revealed bankroll is the only one they are willing to use to pay winnings on the casino unless there is written somewhere else that they will also pay from other wallets when someone win more than the revealed bankroll.
I believe they have more money outside the bankroll, but my main point is specifically about winning per bet because if they do not specify how much they can afford to pay per bet then their current revealed bankroll might be lost within few winning bets even a single bet only by Whale.
I'll wait for betmode to clarify about it, because most casinos apply this max profit per bet depending on their bankroll in order to have a healthy business.
hero member
Activity: 462
Merit: 767
Instant cryptocurrency exchange with own reserves!
They already addressed this inquiry on the first page regarding the lack of liquidity. They didn’t deny it and in fact they have a plan to boost it in the near future. You can check the post below for their plans.
Thanks for quoting that part. I did not read all the replies, so I missed that one. I guess a couple of members also missed their reply. They indeed have plans to boost their bankrolls, but apart from the investors, I believe they might have more funds in different wallets, which they did not keep in their hot wallet. I always think a business never keeps their funds in their hot wallet. This is not only for casinos but also other businesses like exchanges.
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I think their current bankroll is very decent to accommodate normal bankroll players. They can increase along the way when there’s already an increasing demand on the casino.
Yeah. It's a good fund to start with. Thousands of web2 casino platforms never reveal their bankroll, and you never know if their bankroll is lower than Betmode. But knowing the bank roll is only a $100K, hight rollers won't dare to play there. Jump to: