Topic: Crowd Sets the Payout Sports Betting and Bitcoin Gambling, Min Bets Pay Best! (Read 1255 times)

Aight ok i understand now 

Because all games are paid out with the BTC in the pool you cannot win more than what is in the pool.

Displayed payouts are for a 1 millibit bet (optimal bet in a pool game).

More on Optimal Bet Size
Min Bet is the best bet when considering the formula for payout.
example: 1 millibit bet into a 7 millibit pool pays x7.6 Millibits per mBTC bet, if you are the only winner
example: 2 millibits bet into a 7 millibit pool pays x4.2 Millibits per mBTC bet, if you are the only winner

The payout formula can be found on the website by clicking the 'Winner Payout' button on the website.

Hi OP i just made 10mbtc bet in carolina phanters with odds x3.25 and won but why i only received payouts 16.5mbtc so its only like x1.65 odds not x3.25
thanks

No zero roulette sounds really fun. I'll try it out Smiley
 

Thankz received 

Thanks for letting me know!

For some reason only 3 of the 6 payouts I did went through. Your payout is done now along with the other 2 missing payouts I found when looking for yours.

Hello OP i made an additional betting(not from giveaway) 0.002 in sport betting for new england patriots but still didnt receive my winning payouts
TX ID
https://blockchain.info/tx/182ff660fe99927c8259a926445fa9a30c096be480b05d5e171880b3777d02d3

Payouts Done for Sunday's Bitcoin Sports Betting event

aw thanks https://blockchain.info/tx/4ba7a6abeb3972ae6aafeb80316ac301bcdf5e2049e7462f13940381b0fa1426
even i didnt won i still get the bonus 

The Min bet on the site is 1 Millibit or 0.001 Bitcoin

This player choose to bet more, it is possible that they didn't know the min bet is also the optimal bet....

This is because you get a higher payout per amount risked when betting into a pool(this matters less with bigger pool sizes).

BTC0.003 for each bet?? If you go lower to BTC0.001 i will start to play and betting on yours site..

Made Another Gamblers Day!

Just made a payout of over 8 Millibits to a gambler who played one of the sports betting games.  The bet was only 3 millibits... congrats to the winner for more than doubling your Bitcoin, getting the Pool Starter Bonus and picking the correct team!

To see the payout on the website payout list goto:
http://Millibetting.com

New Gambling Feature on Bitcoin Website!

Just added a quick parley option for gamblers who want to try for more Bitcoin and pay less in overall transaction fees!

If you win your sports bet and selected a team on the Quick Parley Option when you placed a bet, a bet will be placed automatically on the next sports betting event with your winning Bitcoin.

This could sometimes even be a different sport, whatever game is on the second Sports Betting tile on the website will be what is available to parley on.

Check it out @ http://Millibetting.com

Thanks for your interest in my Bitcoin gambling website!

3 hours to go on Pool Roulette...

4% Pool Starter bonus - 9 Spots left

No Winner Insurance - Small pool and no winner? Get 95% of your bet back! Less transaction fees.

New Gamblers Needed!

No zero roulette sounds really fun. I'll try it out

No Spread Sports Betting Results are in!

Saints beat Cowboys

On Sunday Night Football

First confirmed Bitcoin wager is in.

Someone (I don't use tracking on the website) made a bet of 3 mBTC betting on sports.

You can view the whole Game's Bitcoin Pool by clicking the link on my Bitcoin gambling website:

http://millibetting.com

Now that the 3 millibit bet is confirmed that sports game's payout odds have changed. (San Fran vs. New York)

Check the website for the new pay odds.
Remember millibetting.com offers No Winner Insurance!

  Just Had a GIVEAWAY - 12mBTC in the Games and Rounds Thread that went well:

VIEW IT HERE:

https://bitcointalksearch.org/topic/12-millibit-giveaway-millibettingcom-1196464

The Roulette Pool is now Loaded!

Sports Result is In

Denver Broncos beat Detroit Lions

There was no player bets on either team... Admin made a losing bet on the Loins which was used to double test the No Winner Insurance system.  The result is now showing in the sports results tile.

After a game expires a new sports game will be available to bet on... The new game now is: San Francisco 49ers vs. New York Gaints (US Football)

Pool Roulette Hint:

Post which number you bet on in the Pool Roulette game on this thread... this way other players can bet against you and increase your payout! Thats the magic of Pool Roulette. Don't forget about the No Winner Insurance which helps those who start the pools.  Also there is a 4% bonus paid on wins for the first 15 confirmed bets in a pool - Get in early.

My New Bitcoin Gambling Site - No Registration

It Features:
Crowd Sets the Payout Sports Betting
No-Zero Roulette
Yearly Bitcoin Christmas Lottery
4% Bonus on winning payouts for pool starters(first 15 players in a game**)
No Winner Insurance (will be used mostly on the roulette game).

http://Millibetting.com

Because the website just started, here are it's blockchain transactions:
https://blockchain.info/address/15wEeh7imkfCuecuTYzdLSc2YdYWCrNSVF

Min Bets Pay Best
The Optimal Bet on the Website is always a min bet of 1 millibit. Until the pools get very large you win the most and risk the least making a min bet. However because its based on Bitcoin pools a large bet on a sport betting team will increase the payout for the opposite team and might make it easier for people to bet against you and increase your payout. Better concept than other sites where a large bet has better chances of taking the pot.

Bitcoin Sports Betting - Win your share of the pool and don't worry about a points spread. The Prize Pool displayed is the amount wagered on both teams to win plus added prizes. The pay multiple ratio between the buttons change as new bets come in and this way the crowd sets the payout odds. The pool is updated when your bet has over 3 confirmations and is transfered from the forwarding address to our main account(Blockchain API has been lagging- longest wait was 30 confirmations,)

No-Zero Roulette - Payouts made from the pool - Win your share of every bet made (95% of every bet plus added prizes in the round divided by millibits bet on the winning outcome multiplied by the number of millibits you bet on the winning outcome) - Pay odds variable.

Yearly Holiday Lottery - 3 Prizes Guaranteed - 1st is 60% of the Pool, 2nd is 20%, 3rd is 15%

95% Pay out every time even when no one wins. 95% of your bet returned less transaction fee when no-one picked the winning team or number. I call this No Winner Insurance.

Site Has no visitor tracking, doesn't need your name, email, ip address or anything else... but payouts and bets made get posted with your Bitcoin address. (Hits from certain sites are counted (just the count: 1,2,3...etc. No I.P. or geolocation, browser id... etc.)

Website is 100% Brand New  - The Min and optimal bet is 1 millibit. I programmed the website myself so if you run into problems email admin with the email in the FAQ section or post here about the site.

**4% Pool Starter Bonus(first 15 players to start any game on the site) counts to the first people to make a confirmed bet. Coming to the website early is still a good thing even if your bet doesn't get confirmed right away because your spot in line is held... but get those bets confirmed. Check the game's pool link for the number of players in the pool(bottom of chart).