Topic: [HAVELOCK] CasinoBitco.in CBTC - page 13. (Read 149115 times)

I assume we can look forward to a report for April any day now?

CasinoBitco.in is seeking Beta Testers for the first true strategy-based Peer to Peer Game, Bitcoin Rush

Bitcoin Rush, the new flagship multiplayer coming to the CasinoBitco.in Gaming Network, is going to be the most exciting head-to-head strategy-based game available in the Bitcoin Gaming Market. The concept is similar to poker or chess, in concept, but each game only takes a few minutes to play!

Public Beta

We will be running a public beta version of Bitcoin Rush for at least two weeks to get feedback on the gameplay, address enhancements, and of course identify and fix bugs! All games in the Beta Period will be FREE, any registered user of CasinoBitco.in is eligible to participate in the Beta - but we are limited the Beta to the first 100 users that signup!

We will  be rewarding Beta Users with Prizes based on the following criteria:
Most Wins - Wins 1000 mBTC
Most Games Played - Wins 500 mBTC
Any bug or defect submitted - starts at 100 mBTC and goes up based on severity
Any enhancement we implement or add to our backlog - starts at 50 mBTC and goes up based on creativity and value

Please take some time to review the details of the game, and sign up for our public beta trial and earn some free BTC!

https://www.casinobitco.in/bitcoin-casino/bitcoinrush/beta

Timing: We will e-mail all beta users once we have the system ready, we're aiming for Monday May 4th or sooner!

Correct, the casino(s) generally doesn't lose money long-term, you can double-check the financials to date which back that up.

The Sportsbook can absolutely lose based on very sharp action, especially with unbalanced action that we've seen. If sportsbooks in vegas, with millions of bets can lose, so can a small bitcoin-only sportsbook with hundreds of bets.

As for the other casino earning 3000 btc in a year, I'm willing to be there are a few that are doing that in this space, specifically bitzino, or satoshibet. Being able to dominate SEO for "bitcoin casino" across the globe (which these guys do), yields a tremendous amount of users and play. But,  you'd know that if you read the reports since we have a specific section detailing our opportunities and progress in SEO monthly.

edit - No, terms of the Bit777 and PeerBet acquisition were not disclosed, nor will they be, due to a mutually agreed upon NDA with Ultraplay (the previous owners).

WOW, really? I don't think casinos lose money, it is ridiculous, once I asked a very ugly UI BTC casino, they said they have 3000 BTC pure profit in 2014. That casino really sucks, UI design likes 1990s website. If that casino can earn 3000btc in a year. I don't think casinobitco.in lost 68BTC in half year. I guess their figures are both fake.

The former casino faked the 3000 btc profit to find and sell the site to new investors. And casinobitco.in can refuse to pay you guys dividend if they announce negative profit. That's why I said the figures may be false.

Got it, thanks!

Yep.. if you look at the P&L there are refunds from the 3rd party odds provider baked in there as insurance (you'll see them as a positive expense instead of a negative)

Hope that helps

Quick note on the results: summary for March says 44.2094 BTC in combined expenses, but summary for Q1 says only 21.1258?

Nice to see profitability and the Casinos did well

Alright, thanks !

Hi Stego

Dividends are handled quarterly, not monthly, so that we can sustain growth and beat week to week variance.

As we had negative revenue for Q1, there won't be a dividend... this is detailed on the 2nd page of the report.

Thank you for the report and your information =)
Does this mean we will receive dividends ?

Report added to havelock: https://www.havelockinvestments.com/reports.php

Overall March was one of the first profitable months (after expenses) in a while... Clearly, not getting hammered in the Sportsbook is one the main contributors, and the folks close to the day to day operations are taking this fact into consideration moving forward in 2015. Also, as we won't have a 3rd party managed book in Q2 - that rather large monthly expense (~2800) will disappear, which is good for the bottom line.

We still have a ton of SEO and Marketing Opportunities in front of us to grow revenue, it's the team's main concern and we are spending a significant amount of attention on it at the moment.

Positively, we are launching our new Peer to Peer Game, Bitcoin Rush this month - it's a first of its kind in this marketplace and is a highly strategic, quick, game that should give us some positive press and hopefully increased traffic and players.

Edit / Note: We had ~4.3 btc fraud in March due to double-spends based on a bug with the BlockChain.Info API. As folks that follow our progress closely know, we've had several issues with the stability and reliability of their API all year, and this was the last straw for us as their management team didn't provide a refund based on their bug. We've since moved away from them to another provider, and now require all deposits to have 1 confirmation before we credit the user's balance.

Its not about flashy presentations, they share a minimal amount of information to investors, with little explanation for big expenses.

It will be published in Havelock within 48 hours.

Hello, when the march report is going to be available ?

I agree. But I still prefer a company (if I have to choose) that keeps their head down and work on the business compared to focusing all their time of flashy presentations.

Looking forward to a clean report this month(fingers crossed).

The SEC requires it, obviously CasinoBitcoin doesn't have to worry about SEC requirements (since they aren't registered with them), but it would greatly improve investors confidence. Im sure you have heard of these companies that do post their capital reserves:
http://finance.yahoo.com/q/bs?s=KO+Balance+Sheet&annual
http://finance.yahoo.com/q/bs?s=F+Balance+Sheet&annual
http://finance.yahoo.com/q/bs?s=MSFT+Balance+Sheet

CasinoBitcoin is only worth a third of what it used to be several months ago, its completely related to the fact that the company keeps taking big hits month after month, and not knowing if CasinoBitcoin can absorb. According to havelock they raised ~924.85BTC, losing 68BTC is ~8% of their total raised. This also doesn't account for the costs acquiring Bit777 or Peerbet.

I actually like CasinoBitcoin, their team is very active in the forums and trying to get new customers, I think they have done a good job running the business (adding new games, sportsbook insurance), but their investor relations are terrible.

No public company posts regarding their capital reserves outside of official reports that I know of but considering they raised 500+ BTC they seem to be on very firm ground financially even after the losses.

I do hope they find a way to mitigate the sports book losses though, I think Bitcoin sports betting is probably particularly hard to break into being that competition can spend large sums to try to beat the variance and put competitors out of business etc.

Can't wait to see the new games and revenue/profit without a substantial sports book operation in the books.

Actually, public companies do post their balance sheets. I liquidated my CBTC shares a couple months back after they refused to share what their bankroll is. You requesting that a shareholder own 5%+ of the shares is ridiculous, chances are no one outside of management owns more then 5% of the company.