Investing in Bitcoin Casinos are really worth it? - page 15.

MoneypakTrader.com

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Never spend your money before you have it.

Quote from: elyas772 on June 11, 2016, 01:01:16 PM

I often see many people saying that the owner of the house always wins, so I think if you invest in bitcoin casino was really worth.

Yes. As they always say that the house always wins, it can only mean that investing into casinos could really be profitable after all. Now I am looking into BetKing to invest into it. I will diversify my investments between different casinos just in case something unexpected happens in one of the casinos. A very good idea would be to make a decentralized casino running under the Ethereum platform (smart contracts) Everything would be managed by smart contracts like the payout, in order to establish a trustless system. (and also avoid risks such as the casino closing down) Just my opinion. Grin

Tred

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Just don't gamble - period

elyas772

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I often see many people saying that the owner of the house always wins, so I think if you invest in bitcoin casino was really worth.

JasonXG

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Quote from: MoneypakTrader.com on June 10, 2016, 02:40:53 PM

It been quite some time since I have been away from Bitcoin and cryptocurrencies, but seeing Bitcoin's price rise and the recent trends going about the block chain, it seems that soon we'll be seeing BTC becoming used as a mainstream currency by all major corporations, businesses (and even governments perhaps).

Now I've became interested into Bitcoin casino investing, but I want to know if it is worth a shot. I know that there is a risk in every investment, but I think this could be the most profitable way to go.

If anyone could share some tips or advice regarding this, I would greatly appreciate it.

We dont want the government near bitcoin with ten foot stick. Screw authority !
Yes it is worth it its way better to invest in a casino then gamble in won. You will lose money when the big hitters come I'm that is a fact but you will regain it and you will make profit over time. Just remember if you lose money so does the casino and they dont want that. So yes invest. But diversify. Invest in multiple casinoes. Never just one.

michietn94

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As far as my experience, casino with invest option will make investor loss on most case because some site able to manipulate site detail to attract potential investor. So you want to keep invest , just pay attention it's detail and other feedback about the site

streazight

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Quote from: Barcode_ on June 11, 2016, 08:50:03 AM

Yes, it is worth investing in Bitcoin Casino, I have invest in some and getting some profits daily but don't expect the profits to be huge Cheesy

I thought that investing was risky, I didn't know that you can really earn from investing to Casino.
But now I would like to invest in such sites, and to see how it goes. I hope I could earn from the house's profit too as having a partnership with them virtually.

Snorek

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Investing in cryptocurrency is a next big thing. We still don't see the full potential of utilizing bitcoin.
Gambling in general in a big industry and online gambling represents a significant and ever growing proportion of that business; for now it is about 12%

And now question for the Op, how much BTC you want to invest? If you have enough money why don't create your own gambling house?
It definitely will be the most profitable investment in the long run, if you know what you are doing. Market is not that saturated IMO.

lite

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Quote from: Barcode_ on June 11, 2016, 08:50:03 AM

Yes, it is worth investing in Bitcoin Casino, I have invest in some and getting some profits daily but don't expect the profits to be huge Cheesy

In which site you have invested and how much is the daily payout you get? i'd invested in just-dice(clams) and had made 15 clams profits i sold them all before clam's price went down.

Barcode_

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Join the world-leading crypto sportsbook NOW!

Yes, it is worth investing in Bitcoin Casino, I have invest in some and getting some profits daily but don't expect the profits to be huge Cheesy

Tanic

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Casinos that accept bitcoin are developing. Especially online casinos. More and more on the internet I see commarcial of those online casinos on different sites and for me it's a sign that must be those casinos are getting really good money from this. So I'm sure that this industry will only grow.

Pursuer

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Where is my ring of blades...

the decision is only based on your preference and it is based on how much risks are you willing to take.
investing in casinos can be a good option for investment because it is a growing business and because of the house edge, the house and you as a share holder will always win and share the profit. but at the same time it is gambling and thee is always risks both ways and if you are investing short term you can hit a down time where the house loses a big amount and you share in the loss too.
so it is important to remember that you are sharing in both loss and wins of the house hence the risk.

WaffleMaster

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Quote from: RealBitcoin on June 10, 2016, 09:10:54 PM

Quote from: WaffleMaster on June 10, 2016, 08:57:30 PM

Do you have any casinos in mind to invest in?

I`ve posted this earlier:

https://bitcointalksearch.org/topic/m.15156884

Nice. Betking and satoshidice were just recommended too haha. Thanks for compiling such a great list Grin

I think I might get into Casino Investments while I wait for the halving to see how mining will do.

RealBitcoin

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Quote from: WaffleMaster on June 10, 2016, 08:57:30 PM

Do you have any casinos in mind to invest in?

I`ve posted this earlier:

https://bitcointalksearch.org/topic/m.15156884

Dajackal

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I have invested in satoshidice and made some good money. Id say investing in the house is always a good idea because the house always wins. Sometimes you just need to be patient.

actmyname

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Spear the bees

Quote from: WaffleMaster on June 10, 2016, 08:57:30 PM

Quote from: RealBitcoin on June 10, 2016, 08:52:38 PM

Quote from: WaffleMaster on June 10, 2016, 08:47:30 PM

Hm... when you put it that way with the maximum bet limit I think you're right. Very low chance of a casino going bust unless they get cheated or hacked. That does seem like the biggest risk...it happens to even large exchanges and casinos online as well as in real life so that's a decently big risk imo.

Yes hacks are the biggest danger a casino could face.

But most of them are already storing 95% of their funds in cold storages or multisig wallets.

They can easily calculate how much BTC the casino pays to gamblers daily and only keep that much in the hotwallet, the rest can be kept safely in a cold wallet and only recharge the hotwallet when it's needed.

So if a hack happens they can only steal 5%, which is still bad, but better than 100%.

Yeah...100% and you're done. You're out of the game. 5% you take a hit, and probably lose customers because of the breach, but you're not out and you still have people to gamble. Can repair the user base by launching ads or something so it sounds like the risk is well mitigated. Do you have any casinos in mind to invest in?

I've heard that BetKing was trustworthy. I'm not completely sure about it, but there has been a lot of positive buzz about it.

WaffleMaster

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Quote from: RealBitcoin on June 10, 2016, 08:52:38 PM

Quote from: WaffleMaster on June 10, 2016, 08:47:30 PM

Hm... when you put it that way with the maximum bet limit I think you're right. Very low chance of a casino going bust unless they get cheated or hacked. That does seem like the biggest risk...it happens to even large exchanges and casinos online as well as in real life so that's a decently big risk imo.

Yes hacks are the biggest danger a casino could face.

But most of them are already storing 95% of their funds in cold storages or multisig wallets.

They can easily calculate how much BTC the casino pays to gamblers daily and only keep that much in the hotwallet, the rest can be kept safely in a cold wallet and only recharge the hotwallet when it's needed.

So if a hack happens they can only steal 5%, which is still bad, but better than 100%.

Yeah...100% and you're done. You're out of the game. 5% you take a hit, and probably lose customers because of the breach, but you're not out and you still have people to gamble. Can repair the user base by launching ads or something so it sounds like the risk is well mitigated. Do you have any casinos in mind to invest in?

RealBitcoin

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Quote from: WaffleMaster on June 10, 2016, 08:47:30 PM

Hm... when you put it that way with the maximum bet limit I think you're right. Very low chance of a casino going bust unless they get cheated or hacked. That does seem like the biggest risk...it happens to even large exchanges and casinos online as well as in real life so that's a decently big risk imo.

Yes hacks are the biggest danger a casino could face.

But most of them are already storing 95% of their funds in cold storages or multisig wallets.

They can easily calculate how much BTC the casino pays to gamblers daily and only keep that much in the hotwallet, the rest can be kept safely in a cold wallet and only recharge the hotwallet when it's needed.

So if a hack happens they can only steal 5%, which is still bad, but better than 100%.

WaffleMaster

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Quote from: RealBitcoin on June 10, 2016, 08:44:11 PM

Quote from: WaffleMaster on June 10, 2016, 08:20:46 PM

But the casino could also go bankrupt before it sees the house edge gains.

Nope, all casinos have betsize limit.

What you say would be true if say the house bankroll were 1000 BTC and then some whale with 10,000 BTC starts gambling there he could very easily win that 1000 BTC

However most casinos have a betsize limit like 5 BTC

So then you would have to bet 2000 BTC split into 5 BTC parts, which means that with a house edge of 1%, you would have to have 400 consecutive wins of 5 BTC bets to make the casino go bankrupt.

Well given the 1% house edge and double or nothing type bets with 49.5% probability, the probability of 400 consecutive wins is:

0.00000000000000000000000000000000000000000000000000000000000000000000000000000 0000000000000000000000000000000000000000000695151674800117 %

The universe will turn faster into cheese than a casino to go bankrupt Cheesy

I`d worry about them getting hacked more.

Hm... when you put it that way with the maximum bet limit I think you're right. Very low chance of a casino going bust unless they get cheated or hacked. That does seem like the biggest risk...it happens to even large exchanges and casinos online as well as in real life so that's a decently big risk imo.

RealBitcoin

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Quote from: WaffleMaster on June 10, 2016, 08:20:46 PM

But the casino could also go bankrupt before it sees the house edge gains.

Nope, all casinos have betsize limit.

What you say would be true if say the house bankroll were 1000 BTC and then some whale with 10,000 BTC starts gambling there he could very easily win that 1000 BTC

However most casinos have a betsize limit like 5 BTC

So then you would have to bet 2000 BTC split into 5 BTC parts, which means that with a house edge of 1%, you would have to have 400 consecutive wins of 5 BTC bets to make the casino go bankrupt.

Well given the 1% house edge and double or nothing type bets with 49.5% probability, the probability of 400 consecutive wins is:

0.00000000000000000000000000000000000000000000000000000000000000000000000000000 0000000000000000000000000000000000000000000695151674800117 %

The universe will turn faster into cheese than a casino to go bankrupt Cheesy

I`d worry about them getting hacked more.

WaffleMaster

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Quote from: MoneypakTrader.com on June 10, 2016, 02:40:53 PM

It been quite some time since I have been away from Bitcoin and cryptocurrencies, but seeing Bitcoin's price rise and the recent trends going about the block chain, it seems that soon we'll be seeing BTC becoming used as a mainstream currency by all major corporations, businesses (and even governments perhaps).

Now I've became interested into Bitcoin casino investing, but I want to know if it is worth a shot. I know that there is a risk in every investment, but I think this could be the most profitable way to go.

If anyone could share some tips or advice regarding this, I would greatly appreciate it.

The house always wins. So yes it's definitely worth it. But the casino could also go bankrupt before it sees the house edge gains. As an investor you would have x% of the house edge (which is probably about 2% of all the money gambled). Risky, sure, but definitely less risky than gambling if you find a perfectly legit casino to invest in.

Topic: Investing in Bitcoin Casinos are really worth it? - page 15. (Read 20421 times)