Topic: bustabit – The original crash game - page 95. (Read 61435 times)

bustabit has always been one of my favorite. Are there many people who have joined the investment program? It seems alot more steadier now without the bonus program

Site's Bankroll:      6,243,842,849.53 bits
Site's Offsite:      3,029,708,246.38 bits
Site's Onsite:      3,214,134,603.15 bits
Site's Profit:      2,194,984,597.81 bits

In investment how much is the minimum amount to invest?
And how to invest in your website I really like to invest in Bustabit for so long.

Hey everyone,

Some people might already know me from bustadice, which launched last October. A little over a week ago I also acquired bustabit from Ryan and will be running it going forwards. Due to the change in ownership it was necessary to  generate a new hash chain and hold bustabit's second provably fair seed event, which you can find here.

I also took the opportunity to release version 2 of bustabit, a complete rewrite that is more scalable and brings a number of new features and improvements.

Removal of the bonus system
Both instant busts at 0.00x and the bonus have been removed and the house edge is now a flat 1 % (read below). Although the bonus was one of bustabit's most interesting features and I am sad to see it go, our experience has shown that most players didn't consider the bonus an important part of the game. Consequently only a handful of players benefited from the bonus at the expense of all other players that ignored it.

Despite the house edge being increased in v2, the majority of players are likely better off in terms of expected value thanks to the removal of the bonus system.

Investment system
bustabit is no longer privately bankrolled. Instead, anyone can invest in the bankroll to participate in the casino's profits (and losses). To fund further development, marketing and to turn a profit, we charge a 0.25 % commission on all wagers. To ensure that investors' profits remain predictable, the house edge is now a flat 1 %. Therefore, investors can expect to receive 75 % of the house's profits.

Just like in bustadice, the majority of funds are held in a multisignature cold wallet by myself, Ryan and a trusted third party. Investors may also choose to remain in control of some of their investment by making use of our offsite investment system, reducing their counterparty risk and increasing their liquidity.

New investors are charged a fee of 2 %, which is shared among existing investors. This compensates them for being diluted and encourages long-term investments into a stable bankroll.

Higher bet limits
To protect investors, the most a single player can win in one game is 0.75 % of the bankroll, in line with the Kelly criterion. If a player were to win more than that, he will be forced to cash out. In addition, if all players in a game combined would win more than 1.125 % of the bankroll, they are also forced to cash out. The bet limit has been raised from 1 BTC to be the same as the maximum per-player profit, allowing for significantly larger bets than previously.

As a result, high rollers can make larger bets and overall players will be forced to cash out less often.

Deposit precredits
Don't want to wait for your deposit to be confirmed? Precredit it for a small fee and start playing immediately!

Not all deposits are eligible to be precredited and your precredited balance cannot be withdrawn, tipped or invested until your deposit confirms.

Highly optimized withdrawal system
bustabit v2 makes full use Segwit for all of its addresses. In addition, withdrawals are processed using a sophisticated custom-built coin selection algorithm which provides fantastic privacy properties.

Since it also significantly lowers our transaction costs, we are able to pass those savings on to our players. Players that would like to save even more on fees have the option of choosing a non-immediate withdrawal, which is batched with others and even cheaper.

We are confident that no other service can currently provide cheaper Bitcoin withdrawals at cost.

Friend system
You can now add other players to your friend list to see when they are online. Friends are specially highlighted, making them easy to recognize in chat and in the game's player list.

If you want to discuss something in private, you can now do so using direct messages. To prevent spam, both players must add each other before they are able to send and receive each other's private messages.

Script editor
Scripts authors can automatically generate UI for configuration, allowing scripts to be shared and used more comfortable, especially by non-technical players.
We've also sandboxed the script editor, preventing malicious scripts from accessing the rest of the browser.

If you give people 5% on top of the win for every time it does make the game favorable for the gambler and not the house however if you make it only for one person and only one x20000 or whatever than its only favorable for the player on one time in maybe months, how many times has the game hit over 20 thousand before ?

I don't know where to check but I am pretty sure it is rare and not common which means house will always make money from all other bets and will continue to reap profits from anything under 20 thousand and only give the house edge to the gambler in one occasion they beat over 20 thousand. It is not really that risky for the house but the better bet I believe is putting something small aside for each lost bet to give it to jackpot winner that way it can increase the longer its not won and can be promoted the bigger it gets.

The 20 000x and 50 000x are just a number, it can be any high number pre-determined by the casino. So if someone, with a minimum bet of say 1000 Sat hits the 20 000x without a bust, then it adds say 5% more to their winning total. This will encourage people to stay in longer to hit that added bonus percentage.   

The Casino will still make a profit, because a lot of people will "bust" more now, because they hold out longer for that "bonus" and Bustabit still manage their house edge. 

Jackpots are generally extremely unlikely to get and players still try to go for them, I don't see the issue. And you are talking about 20000 or 50000, which isn't that different (I even mentioned 7777 as another example, which would be hit once every a few days on average).

About paying out X% over the regular prize, it would have to be an extra amount that still makes it profitable for the casino. Otherwise you encourage "pros" to come and play only in positive expected value scenarios, something that is bad for the casino (removing the previous bonus system made sense because of this).

The thing is, this does not happen a lot and for this to be successful, people should hit that kind of jackpot on a regular basis to encourage other people into doing the same thing. I would much rather introduce a bunch of smaller jackpots for people who reached different multipliers.

They should also introduce a automatic tip bot that distributes 5% of the winnings to everyone that are online, when people hit jackpots like this.  

That makes me think that maybe a promotion in which whoever is the first to multiply per say 100000 gets a prize, could work well. It wouldn't just encourage people to play because of the extra prize (it could be some kind of jackpot that increases very slowly, say 0.01% of wagered), but then it would be good advertising as someone would had won a lot with a small bet. The prize would have to be proportional to how much you are betting, like at Crypto-Games.

The only problem I can imagine is that it may entice people to make lower bets than they would so that they can hit that jackpot before their bet is stopped because of reaching max profit.

Another idea would be the same but hitting some special multipliers, like say 7777.

This kind of promotions are in some way better than wagering ones because you are encouraged to keep playing all the time (in wagering competitions people may lose interest if they see they can't win, while this can be won by anyone at any round).

Although Bustabit is very popular, I think it's worth trying some different promotions with small prizes so that it can keep growing. Just because it's working well it doesn't mean it couldn't work even better. Don't be conformist, devans!

Lol what did you do, sell the things you made yourself than kept on being the investor even without a real affiliation? .

That is so weird for an exit, like you could have owned all of the game yourself and run it if you want but you turned the responsibility of running the casino over to someone else (I assume in exchange for some bitcoins) and than reinvested in it to have less responsibilities and more profits but than you turn out here to answer questions anyway. Don't get me wrong it is awesome that you would do that but you gotta admit that is a pretty rare thing to see .

Normally when someone turns over their company to someone else they leave and work on something different, you kept your position and just increased your investor level also I doubt you would use your mod rights unless something obvious like ad spams or whatever, you do not look like a guy who likes silencing others.

Has it been publicly stated how much it was sold to devans for? Or is that private information?

Lol what did you do, sell the things you made yourself than kept on being the investor even without a real affiliation? .

That is so weird for an exit, like you could have owned all of the game yourself and run it if you want but you turned the responsibility of running the casino over to someone else (I assume in exchange for some bitcoins) and than reinvested in it to have less responsibilities and more profits but than you turn out here to answer questions anyway. Don't get me wrong it is awesome that you would do that but you gotta admit that is a pretty rare thing to see .

Normally when someone turns over their company to someone else they leave and work on something different, you kept your position and just increased your investor level also I doubt you would use your mod rights unless something obvious like ad spams or whatever, you do not look like a guy who likes silencing others.

it is true what you are saying, but my question is really simple, it doesn't matter if I have a 50% stake or a 0.002% stake, if the sites PROFITS goes from 2k to 2.2k (example) this means my investment also grew 10%

and I have a more personal question for you RHVAR, do you use the offsite system at all? because if you only use the onsite system you are exposed to a 1.5Kelly, but that dosnt mean you will eventually loose your entire bankroll, this only happens if you use the offsite system exposing yourself to more than 1.5Kelly.