Topic: Casinobit - LIVE ROULETTE - [INVEST] - BEST CASINO OF 2013 - page 16. (Read 82377 times)

The balance fell from ~350 to ~266 but it means nothing since investors can divest and decide not to reinvest.

Might seem unimportant, but the balance has apparently moved from left to right. At least someone's doing something with the code.

Or maybe you come up with your own idea instead of leeching off others success, because, I don't know, you can never ever be the best copycat?

So...How is everyone's withdraws coming along? I was able to get out 2 BTC.   But not really. Wonder how that plan is coming along. 
Looks like he has managed to milk some more suckers into putting money in. He was at ~100 BTC profit and is now at almost 150. 
Casinobit.Net - Screw the suckers and keep on rollin'. ©  <-----Oh yeah... the copyright is bullshit too.

@FloridaBear

I understood the max of 6.7 would be the max for the outside bets like Black/Red. so the max bet on a single number should be much lower. does he have any rules mentioned on his table for inside and outside bets?

Ideally the interface could be much better. If you could get it closer to a real roulette table where you have chips that are a value of the player's choosing and they could simply click to drop chips on that bet, that would be a much better experience for the player.

agree it should look like this to get a casino feeling.

Maybe it's time for me to develop one...

could You?

The worst case scenario for the 6.7 table max is that a number of players bet a total of 6.7 on a single number and it hits. That would require a total of 234.5 to be paid out, which should only be 2.7% of the bankroll (you would need a bankroll of 8,685)! If you take that same scenario, but there were 10 other numbers maxed out, you would take in an additional 67, making the payout only a net of 167.5, so you could allow that with a smaller bankroll ("only" 6,204).

I don't think there is a general formula; you have to ensure that the worst case on each spin will only risk 2.7% of the bankroll. It's probably easiest to recalculate all of the possible payouts and then recalculate the max bet for each possible bet after each bet is placed. Then you can display that when they hover over that bet and not allow more than that to be placed. If many bets are placed, the max on a single number may very well go up, since you have offsetting bets from other numbers (assuming bets are final and can't be removed). The math is not that complex; it is essentially instant on a modern CPU.

Ideally the interface could be much better. If you could get it closer to a real roulette table where you have chips that are a value of the player's choosing and they could simply click to drop chips on that bet, that would be a much better experience for the player. If you could update in real time the other player's bets for that spin, that would be even better (you would have to limit that depending on the number of simultaneous players).

Maybe it's time for me to develop one...

@bit777

I see max bet 6.7 right now. but it doesnt matter because if he couldnt pay out the winners the max doesnt matter. but at least he was honest to say that he doesnt have the money for worst case scenario. so how comes that people played and/or invested there

On a side note, in the beginning of the investment scheme before all the investment took place, he was accepting bets which were uncoverable by the bankroll at all. He had a bankroll of just a few btc (like 15-20btc) and his max bets were 2.7btc (as they are now). So I very much doubt it he has any actual risk control in place or even thought about it. Some users asked him what will happen if someone wins and he said he will borrow the bitcoins from someone to do the payout.

that is the reason why all casinos have more than one roulette table running. and they need to have a much bigger bankroll.

I still didnt understand why investors gave him the money? how could they be sure that they will get their invested money plus interest back? could some one point me to the right link or explain it.

thanks

That's OK, but what if 30 people all try to bet 6.7 BTC on red on the same roll?  Maybe he limits the total bets per spin, not just bets per player, I don't know.

one table is always risky if the table is not manipulated

Max win is 35:1
35*6.7BTC=234.5BTC
250BTC bankroll seems risky to me.
Right now the site show 291BTC bankroll.

@FloridaBear

Your Kelly sample is fine and each casino owner will/should know this. his table maximum is 6.7 and this should tell us that he had or should have 250 BTC bankroll

Anyway this is pointless since there is no scammer tag anymore and this forum don't ban scammer.

@Rampion

IMHO it would not help the investors who still didnt get their money, to ban him. You never know when it is over until it is over.

maybe I need to read the whole thread from the start because I didnt see many investors complaining and asking their money back. did I miss this part somewhere in this thread?

Anyone sending you money is just a retard.

You are stealing people's money, paying nothing to investors/bettors, and you do not even have the brains to come up with a decent explanation regarding what's happening and how are you going to solve it.

Anyone hoping to get back his coins is a delusional fool.

This thread should be locked and you should get a ban+scammer tag.

I'd like to offer a constructive post. According to Kelly, the house should risk 2.7% of the bankroll on each bet with a 2.7% house edge (e.g. the player's max profit is 2.7% of the bankroll on each bet). This allows the house profit to rise at the optimum rate.

In general, the max bet should be .027*b*n/(36-n), where n is number of squares in the bet and b is bankroll.

Example, 500 BTC bankroll:

• For one square, max bet would be .027*500*1/35=0.38 BTC.
• For 18 squares (e.g. red, black, 1-18, 19-36), max bet should be 0.027*500*18/18=13.5.
• For 6 squares, max bet should be .027*500*6/30=2.7.

You can just tell the player what the max bet is when he clicks on it.

[EDIT]: This gets complicated for multiple bettors. I'm trying to work out a generalization.

Bettors too Icecube, a man can only hope that you will stay with us after the unreasonable amount of time that your payments were delayed.

Hugs won't buy you out of this one

the maximum bet cant go below 2BTC, it cant go only above ( I am sure this was a typo)

10,000BTC an hour that sounds to good to be true IMHO or is it 10,000BTC = 10BTC ? even this would be to good to be true.

by the way why didnt You answer my PM?