Topic: CryptoFlip | Peer-to-Peer Gambling | 50/50 Odds, 1% Rake | Coin Flipping Fun! (Read 4674 times)
August 27, 2014, 04:29:23 PM
what happened to this idea and site
April 21, 2014, 06:59:47 PM
Sounds like a cool idea, hope it turns out nice 
April 17, 2014, 12:22:50 AM
FanEagle:
We are planning to implement a free "coin" on the site as a means for players to test out our sites functionality before sending their own coins to the site.
To all others - please refer the OP, as we have pushed back our launch by just over a week to work out some minor issues we have discovered during stress testing, as well as implement some new features we have considered during our testing phase. We aim to have a flawless gaming experience, and wish to address all impediments to a smooth and successful launch. We appreciate your patience!
cryptoflipcoin anyone? We are planning to implement a free "coin" on the site as a means for players to test out our sites functionality before sending their own coins to the site.
To all others - please refer the OP, as we have pushed back our launch by just over a week to work out some minor issues we have discovered during stress testing, as well as implement some new features we have considered during our testing phase. We aim to have a flawless gaming experience, and wish to address all impediments to a smooth and successful launch. We appreciate your patience!
April 16, 2014, 06:35:26 AM
FanEagle:
We are planning to implement a free "coin" on the site as a means for players to test out our sites functionality before sending their own coins to the site.
To all others - please refer the OP, as we have pushed back our launch to work out some minor issues we have discovered during stress testing, as well as implement some new features we have considered during our testing phase. We aim to have a flawless gaming experience, and wish to address all impediments to a smooth and successful launch. We appreciate your patience!
We are planning to implement a free "coin" on the site as a means for players to test out our sites functionality before sending their own coins to the site.
To all others - please refer the OP, as we have pushed back our launch to work out some minor issues we have discovered during stress testing, as well as implement some new features we have considered during our testing phase. We aim to have a flawless gaming experience, and wish to address all impediments to a smooth and successful launch. We appreciate your patience!
April 15, 2014, 10:21:09 AM
I'm prenoting it to test it as soon as it starts... can I have free chips to review it? 
April 15, 2014, 01:08:54 AM
Launching tomorrow? Holy shit. Bumping this for sweet awesomeness tomorrow! Woot!
April 12, 2014, 09:09:52 AM
bump for interest
April 11, 2014, 06:25:06 AM
Looks nice, ill be keeping an eye on this one.
April 10, 2014, 05:37:16 AM
I see so the house edge is in fact 0.5%.
Your claim of no casino offering a flat 50/50 edge is not relevant when the multiplier is not 2.
Plenty of casinos offer a flat 50% win chance with multipliers of 1.9 to 1.99.
^ is the same, its just being laid out differently, your casino does the 2nd option which many other casinos do.
but in your favour it seems you have 1 of the lowest house edges.
It's a huge difference between a 1% rake and a 1% house edge. The chance to win at this is 50% and not 49.5% it would have been if there was an house edge.
actually the difference is not huge, its 0.5% instead of 1%.
and you can have 50% win chance with a house edge..... its not that hard to understand, maybe this helps:
http://memslist.com/index.pl?action=house_edge_form
Your claim of no casino offering a flat 50/50 edge is not relevant when the multiplier is not 2.
Plenty of casinos offer a flat 50% win chance with multipliers of 1.9 to 1.99.
Code:
edge:
Odds Bet Payout
49.5% 1 2
edge:
Odds Bet Payout
50% 1 1.99
^ is the same, its just being laid out differently, your casino does the 2nd option which many other casinos do.
but in your favour it seems you have 1 of the lowest house edges.
it has no use to have 50% if it is not to win 2x.
It's a huge difference between a 1% rake and a 1% house edge. The chance to win at this is 50% and not 49.5% it would have been if there was an house edge.
actually the difference is not huge, its 0.5% instead of 1%.
and you can have 50% win chance with a house edge..... its not that hard to understand, maybe this helps:
http://memslist.com/index.pl?action=house_edge_form
April 10, 2014, 03:12:33 AM
it has no use to have 50% if it is not to win 2x.
It's a huge difference between a 1% rake and a 1% house edge. The chance to win at this is 50% and not 49.5% it would have been if there was an house edge.
April 10, 2014, 02:42:02 AM
you are making false advertisements - you do have a house edge and it is 2% for a 50/50 bet.
I bet 1 BTC
You deduct 0.01 BTC.
I win and claim (2 x 0.99 BTC) 1.98 BTC.
your house edge is 2%
I bet 1 BTC
You deduct 0.01 BTC.
I win and claim (2 x 0.99 BTC) 1.98 BTC.
your house edge is 2%
Did you see this in the topic?
Example:
If you bet BTC0.1 against a player, and you win, you would be returned BTC0.199, total profit being BTC0.099
The remaining BTC0.001 goes to house.
It's obvious only reductions are done when the bet is finalized and only on the amount you won, not the total amount.
So to make it really clear let's put it in terms of your example.
I bet 1 BTC, someone accepts my bet and loses his 1BTC.
Now of that 1 BTC that he lost 1% is calculated as a rake, which is 0.01 BTC.
Hope that clarifies things.
April 10, 2014, 02:21:59 AM
mem,
the way i saw it is.
they take only 1% on your winnings.
so as their example sais. Example:
If you bet BTC0.1 against a player, and you win, you would be returned BTC0.199, total profit being BTC0.099
The remaining BTC0.001 goes to house.
let me clarify that to your example.
you bet 1 BTC and win! YAY!
then you get your own 1 BTC back.
and the 1 BTC of your counterplayer gets reduced by 1%. thus giving you 0.99 btc winnings.
i definetly am interested in this site.
it's good to see a site where you have a fair chance.
while all other sites only want to make big money by giving you a lower winchance.
so i will definetly be checking this site out! ^^
the way i saw it is.
they take only 1% on your winnings.
so as their example sais. Example:
If you bet BTC0.1 against a player, and you win, you would be returned BTC0.199, total profit being BTC0.099
The remaining BTC0.001 goes to house.
let me clarify that to your example.
you bet 1 BTC and win! YAY!
then you get your own 1 BTC back.
and the 1 BTC of your counterplayer gets reduced by 1%. thus giving you 0.99 btc winnings.
i definetly am interested in this site.
it's good to see a site where you have a fair chance.
while all other sites only want to make big money by giving you a lower winchance.
so i will definetly be checking this site out! ^^
April 09, 2014, 11:19:26 PM
you are making false advertisements - you do have a house edge and it is 2% for a 50/50 bet.
I bet 1 BTC
You deduct 0.01 BTC.
I win and claim (2 x 0.99 BTC) 1.98 BTC.
your house edge is 2%
I bet 1 BTC
You deduct 0.01 BTC.
I win and claim (2 x 0.99 BTC) 1.98 BTC.
your house edge is 2%
April 09, 2014, 11:16:05 PM
They do win 2x but the house fee takes 1%. I think I see your point, though. Might as well adjust the percentage to include the house fee instead of saying 50% when it is not truly that.
April 09, 2014, 05:19:31 PM
Stunna:
We are marketing it as "No House Edge" in the sense that you aren't playing at slightly unbalanced odds against the house; the odds of winning are 50% as opposed to, for example, 49.5% or similarly sub-50% odds on the majority of gambling sites. We consider this a fair trade-off, as the "house" doesn't take the sum of your bet if you lose - it goes to the competing player. Instead, we take 1% of each bet exclusively, and as mentioned in the original post, this is initially to cover hosting and pay our dev team for their work. In the future, assuming the site is a success, our cut of the bets will be distributed in other means, including possibilities like an affiliate program, a dice-bot for our chatbox, and potentially other types of games within the site where you do in fact play against the house.
We are marketing it as "No House Edge" in the sense that you aren't playing at slightly unbalanced odds against the house; the odds of winning are 50% as opposed to, for example, 49.5% or similarly sub-50% odds on the majority of gambling sites. We consider this a fair trade-off, as the "house" doesn't take the sum of your bet if you lose - it goes to the competing player. Instead, we take 1% of each bet exclusively, and as mentioned in the original post, this is initially to cover hosting and pay our dev team for their work. In the future, assuming the site is a success, our cut of the bets will be distributed in other means, including possibilities like an affiliate program, a dice-bot for our chatbox, and potentially other types of games within the site where you do in fact play against the house.
it has no use to have 50% if it is not to win 2x.
April 08, 2014, 09:48:27 PM
Cool idea, gonna keep my eye on this
April 08, 2014, 09:33:04 PM
Stunna:
We are marketing it as "No House Edge" in the sense that you aren't playing at slightly unbalanced odds against the house; the odds of winning are 50% as opposed to, for example, 49.5% or similarly sub-50% odds on the majority of gambling sites. We consider this a fair trade-off, as the "house" doesn't take the sum of your bet if you lose - it goes to the competing player. Instead, we take 1% of each bet exclusively, and as mentioned in the original post, this is initially to cover hosting and pay our dev team for their work. In the future, assuming the site is a success, our cut of the bets will be distributed in other means, including possibilities like an affiliate program, a dice-bot for our chatbox, and potentially other types of games within the site where you do in fact play against the house.
We are marketing it as "No House Edge" in the sense that you aren't playing at slightly unbalanced odds against the house; the odds of winning are 50% as opposed to, for example, 49.5% or similarly sub-50% odds on the majority of gambling sites. We consider this a fair trade-off, as the "house" doesn't take the sum of your bet if you lose - it goes to the competing player. Instead, we take 1% of each bet exclusively, and as mentioned in the original post, this is initially to cover hosting and pay our dev team for their work. In the future, assuming the site is a success, our cut of the bets will be distributed in other means, including possibilities like an affiliate program, a dice-bot for our chatbox, and potentially other types of games within the site where you do in fact play against the house.
April 08, 2014, 08:51:09 PM
Is this going to be 0% house edge? The title indicates no house edge but the description mentions a % of the pot is taken by the site.
April 08, 2014, 08:46:52 PM
to poordeveloper:
No affiliate program as of yet, we don't have the capital to guarantee referral bonuses. Perhaps based on the success of the launch we will consider some affiliate incentives to attract more players. As a "poordeveloper", surely you understand.
We will keep this thread updated with any developments!
to Rulishix:
The site itself is essentially completed as of now; we are holding off our launch for a week to stress-test the site and weed out any bugs and glitches that might jeopardize a smooth launch. We realize that the launch is basically a make-or-break type of deal when it comes to a gambling site, and so we are doing everything we can to ensure that the site runs without any flaws.
We will have some screenshots before next week, so stay tuned!
No affiliate program as of yet, we don't have the capital to guarantee referral bonuses. Perhaps based on the success of the launch we will consider some affiliate incentives to attract more players. As a "poordeveloper", surely you understand.
We will keep this thread updated with any developments!
to Rulishix:
The site itself is essentially completed as of now; we are holding off our launch for a week to stress-test the site and weed out any bugs and glitches that might jeopardize a smooth launch. We realize that the launch is basically a make-or-break type of deal when it comes to a gambling site, and so we are doing everything we can to ensure that the site runs without any flaws.
We will have some screenshots before next week, so stay tuned!
April 08, 2014, 06:41:55 PM
It looks good admittedly thus far but how will it perform? How does it perform under pressure? Will there be bugs ever present and if so will they be handled accordingly? Only time will tell.
Jump to: