Dear BetterBets players and friends,
as part of our 1-month anniversary we ran some statistical analytics on our database in order to get a more precise picture of where we stand and how things are developing. During these investigations we discovered a discrepancy which lead us to discover that our house edge calculations contained a rounding error which under certain circumstances would put our players at a disadvantage, especially so when gambling against very low (player) odds. We have spent the past few days altering our house-edge calculation code and running extensive tests to ensure that all bets will be conducted at a 1% house edge (during normal operations) and the appropriate house edge during Happy Hour and Luck Forging. We have pushed the new code into production and verified that it works as desired.
As soon as we receive a final list of affected users from MoneyPot.com, we will credit each affected user double the amount they lost due to these faulty calculations. The number of affected people is small, but given the different time zones of all parties involved, you should expect this compensation to reach your MoneyPot.com account within the next 24 hours. If you log into your account and notice you have more BTC than you logged off with, this is the reason why. Once again our most sincere apologies for this; we are committed to running a fair gambling site and will continue to bring out new features in an effort to become your favorite Bitcoin Casino.
as part of our 1-month anniversary we ran some statistical analytics on our database in order to get a more precise picture of where we stand and how things are developing. During these investigations we discovered a discrepancy which lead us to discover that our house edge calculations contained a rounding error which under certain circumstances would put our players at a disadvantage, especially so when gambling against very low (player) odds. We have spent the past few days altering our house-edge calculation code and running extensive tests to ensure that all bets will be conducted at a 1% house edge (during normal operations) and the appropriate house edge during Happy Hour and Luck Forging. We have pushed the new code into production and verified that it works as desired.
As soon as we receive a final list of affected users from MoneyPot.com, we will credit each affected user double the amount they lost due to these faulty calculations. The number of affected people is small, but given the different time zones of all parties involved, you should expect this compensation to reach your MoneyPot.com account within the next 24 hours. If you log into your account and notice you have more BTC than you logged off with, this is the reason why. Once again our most sincere apologies for this; we are committed to running a fair gambling site and will continue to bring out new features in an effort to become your favorite Bitcoin Casino.
I just wanted to give everybody an update on this: our database is churning through a multi-gigabyte table in order to get a list of all affected users and the exact amount of BTC we owe them. It took longer than expected to get the query right (it has to perform some on-the-fly calculations) and the actual execution of the query is significantly slower than we expected.
Once we have the list of people and the relevant amounts, we will refund everybody. Rest assured, this refund will happen and it will happen soon.
We appreciate your understanding in the meantime.
Hi Everybody,
the refunds have been deposited to the affected players' accounts.
We refunded 0.41478478 BTC to 29 players; this amount represents 2x the actuall amount our players were disadvantaged for. Once again, we apologize for the error in our mathematics and hope that this gesture underscores our commitment to be correct and accountable to our players and to provide a fair betting environment.
We would also like to note that the math was in our players' favor for some bets. For those bets, we absorbed the cost (as is only fair, as it was our mistake).
It is indeed a gesture that emanates confidence for all users. I did not expect another attitude than this, from this great staff.
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tnx betterbets.io!
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I completely agree. This is a great sign... they could have just as easily fixed the problem while acting like it didn't exist. So this shows character.
