Just checked on coinroyale's dice game
chance 6.5236%
payout 15.1758
bet 10
I rolled high, won and got 141.76, so 9.99 free credit are missing.
Does it mean that the house edge is (151.758-141.78)/(151.758/100) = 6.57% ?
Topic: Can bitcoin casino go bankrupt? - page 2. (Read 2656 times)
I had not noticed this house edge
Just checked on coinroyale's dice game
chance 6.5236%
payout 15.1758
bet 10
I rolled high, won and got 141.76, so 9.99 free credit are missing.
Does it mean that the house edge is (151.758-141.78)/(151.758/100) = 6.57% ?
Just checked on coinroyale's dice game
chance 6.5236%
payout 15.1758
bet 10
I rolled high, won and got 141.76, so 9.99 free credit are missing.
Does it mean that the house edge is (151.758-141.78)/(151.758/100) = 6.57% ?
With wrong bankroll management it can bankrupt.
it can always go bankrupt regardless of brm, brm just ensures that the casino is extremely unlikely to lose in the long run.
Probably "no" if the casino have large amounts of money and small max betting value.
Still if the player gets incredibly lucky (like if he wins 50times in a row) yes casino may go bankrupt.
Still if the player gets incredibly lucky (like if he wins 50times in a row) yes casino may go bankrupt.
well, its all depend on the result of the game..
even with 1% edge they still bankrupt,,why? because no one can predict what the result of the gambling..but exclusion for rigged site..heheh
even with 1% edge they still bankrupt,,why? because no one can predict what the result of the gambling..but exclusion for rigged site..heheh
If they are really out of luck then casino's can go bankrupt and if their calculations are flawed. Otherwise chances are too slim for that to happen.
I think bitcoin casino, never can't bankrupt if they Still have High Roller in a day. it's impossible casino can go bankrupt And i never hear most casino can go bankrupt
With wrong bankroll management it can bankrupt.
It's not that "real casinos" are rigged; they most likely are not rigged unless you go to a shady underworld casino. The problem is, the bankroll of the casinos are far greater than any individual gambler, and furthermore there are steps taken to insure that a high roller doesn't somehow bankrupt the casino by having a max bet put in place. Added to that the inherent house advantage, and it is very unlikely that casinos will lose money.
That said, because the bankrolls of bitcoin casinos are likely much smaller than a real, full fledged casino in Las Vegas, it is much more likely to go bankrupt. Other issues are security. Will their coins get stolen? Will the owner run off with the funds?
That said, because the bankrolls of bitcoin casinos are likely much smaller than a real, full fledged casino in Las Vegas, it is much more likely to go bankrupt. Other issues are security. Will their coins get stolen? Will the owner run off with the funds?
Primedice almost did
Depends on how bankrupt goes that is a way of going bankrupt. Otherwise it is very difficult to get a casino bankrupt. Slightest chance of betting big and getting it all but usually there is a max win and you can not just hope to get lucky at that level.
a bitcoin casino, like any business can go bankrupt. it'll be up to the operator to manage its risks and to make sure that it has enough revenue/profit to cover costs.
i think online casino will not go bankrupt because of a bet
they will go bankrupt because someone found a loophole
they will go bankrupt because someone found a loophole
that very hard to get bankrrupt but very easy to scam 
exchanger website have big chance to scaming people
exchanger website have big chance to scaming people
The risk of casino going bankrupt is very low if you are talking about gamblers beating house edge continuously.
However, the casino could go bankrupt because of a hack/exploit/inside job, and the risk is not low.
For example, just a few days ago, Betterbets has lost 8 btc. The loss is not devastating to the site this time luckily.
However, the casino could go bankrupt because of a hack/exploit/inside job, and the risk is not low.
For example, just a few days ago, Betterbets has lost 8 btc. The loss is not devastating to the site this time luckily.
Depends. If you don't put contingencies and certain rules in place, a whale could just come in and put a serious dent in your bankroll.
yes of course, if the owner doesnt have enough funds to cover.. well but if the owner is rich or maybe have high investment it will be highly chance not to bankrupt
Yes they go backrupt all the time. THere are many bitcoin casinos websites and dice sites that went bankrupt and simply closed down or didn't return any players deposits. Its happens all the time. Most likely due to capital problems when a whale takes them down.
they design the rules in a way that you always lose so they won't go bankrupt any time
Yes obsoletely correct. So for any one heard about bitcoin casino went on bankrupt? I don't think so, only people you play they will go bankrupt. So play carefully.
Who? I remember there was a guru won several thousand btc on JD and he bet 7K one bet and lost all of his btc. 
His name was 'fuckit' lol
Here's some more about the story:
http://www.reddit.com/r/Bitcoin/comments/1npmaq/highroller_loses_800k_with_allin_bet_on_justdice/
and here is the bet:
https://i.imgur.com/eyzhPWN.png
Due to huge house edge the online casinos never loose.
If someone finds a vulnerability in the system then yes there are much chances of casino going bankrupt.
If someone finds a vulnerability in the system then yes there are much chances of casino going bankrupt.
Even if its not rigged,a casino always profits,remember the house edge of many games? That's the point,you can't beat the casino except if you cheat them
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