Investing in Bitcoin Casinos are really worth it? - page 16.

RealBitcoin

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Quote from: Ruzka on June 10, 2016, 06:49:12 PM

Quote from: LFC_Bitcoin on June 10, 2016, 03:46:32 PM

You need to be lucky to find a good casino in its early development & you also need to get lucky finding a new casino that doesn't scam you.

Overall I'd advise you not to do it, I think the ship has sailed. It's too expensive for a new casino to open & make it now.

Reading through this thread, this is the best opinion and advice. I've not invested in a casino for a couple of years, the risk/reward is to low for me to not control my own BTC.

But there is also a 2nd factor: probability of scam.

What is the probability of the casino running away with the coins? I`d say very low, given that some casinos operate flawlessly for 4+ years.

If reward * probability of honesty > risk * probability of scam then its worth investing.

ajaxmoor

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If you invest in a bitcoin casino, then you will definitely be seeing a good ROI, however you will be seeing a tradeoff between the ROI and the risk of the casino operator running away with the funds. So thats a decision you will have to take if you are willing to take the risk. What I have seen is that investing when you tend to see more gamblers or players is better and as soon as they leave, I usually withdraw.

Ruzka

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Quote from: LFC_Bitcoin on June 10, 2016, 03:46:32 PM

You need to be lucky to find a good casino in its early development & you also need to get lucky finding a new casino that doesn't scam you.

Overall I'd advise you not to do it, I think the ship has sailed. It's too expensive for a new casino to open & make it now.

Reading through this thread, this is the best opinion and advice. I've not invested in a casino for a couple of years, the risk/reward is to low for me to not control my own BTC.

RealBitcoin

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Quote from: MoneypakTrader.com on June 10, 2016, 06:05:18 PM

Quote from: RealBitcoin on June 10, 2016, 05:49:06 PM

Perhaps, if they dont run away with your money.

I have compiled a list of the websites that worthy in my opinion. It's not investment advice, it's just my opinion:

https://bitcointalksearch.org/topic/list-popular-sites-to-invest-bitcoins-1136572

A very useful list to find sites to invest into. Thanks for providing this to me, mate. I really appreciate it. Also, I have checked the link on your signature which provides a very useful guide for newbies on how to earn Bitcoin. It has served to me as a valuable resource to help educate other people of how to get started with Bitcoin. Grin

Yes thanks, i like helping people and helping bitcoin.

Just check them out and see which one is best suited for you. Good luck!

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Quote from: RealBitcoin on June 10, 2016, 05:49:06 PM

Perhaps, if they dont run away with your money.

I have compiled a list of the websites that worthy in my opinion. It's not investment advice, it's just my opinion:

https://bitcointalksearch.org/topic/list-popular-sites-to-invest-bitcoins-1136572

A very useful list to find sites to invest into. Thanks for providing this to me, mate. I really appreciate it. Also, I have checked the link on your signature which provides a very useful guide for newbies on how to earn Bitcoin. It has served to me as a valuable resource to help educate other people of how to get started with Bitcoin. Grin

RealBitcoin

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Perhaps, if they dont run away with your money.

I have compiled a list of the websites that worthy in my opinion. It's not investment advice, it's just my opinion:

https://bitcointalksearch.org/topic/list-popular-sites-to-invest-bitcoins-1136572

MoneypakTrader.com

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Never spend your money before you have it.

Quote from: MingLee on June 10, 2016, 04:04:26 PM

Depends on what kind of casino you're looking for and what kinds of returns your interested in receiving, but I would say that there is a fair amount of trust and reliability if you invest in a lot of the bigger casinos, but understand that'll end up with smaller returns than a new and smaller casino.

It all depends on what your research yields and which you decide to invest in, there are a lot of choices but not all of them are good.

Quote from: DeathAngel on June 10, 2016, 04:12:05 PM

I think it's possible to turn a good profit if you invest in the right site with the right owners. Please do your research though.

Thanks guys. All of these have been useful advices for me to begin this journey. I hope to make the right decision when it comes to choosing a reliable and trustworthy casino to invest into. As for now, I have 3 casinos on the list: BitDice, SatoshiDice and Crypto-Games. I think I'll start with the last one investing the minimum amount and see how it goes for me.

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I think it's possible to turn a good profit if you invest in the right site with the right owners. Please do your research though.

MingLee

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Depends on what kind of casino you're looking for and what kinds of returns your interested in receiving, but I would say that there is a fair amount of trust and reliability if you invest in a lot of the bigger casinos, but understand that'll end up with smaller returns than a new and smaller casino.

It all depends on what your research yields and which you decide to invest in, there are a lot of choices but not all of them are good.

philiveyjr

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Quote from: MoneypakTrader.com on June 10, 2016, 03:53:15 PM

Quote from: philiveyjr on June 10, 2016, 03:44:29 PM

You might find a few investing casinos, but I honestly would recommend staying away from it. No matter how honest an operator might look, its uncertain if he could pull out with the bitcoins anytime.

I also thought about this, so I would only invest the minimum amount possible just to be safe. It would be wise to make a decentralized casino based on smart contracts platform like Lisk or Ethereum. That would make it even safer for investments, as everything will be based on smart contracts that would prevent the owner from getting access to the funds. This would be similar to some Ethereum pyramid apps that I've seen around lately. They claim that its code prevents the owner from getting access to the funds.

That would definitely be the next step in the future for any casino to implement. Would be nice to have someone do that. Until then, minimum or more, the risk of losing it all is still big.

MoneypakTrader.com

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Quote from: philiveyjr on June 10, 2016, 03:44:29 PM

You might find a few investing casinos, but I honestly would recommend staying away from it. No matter how honest an operator might look, its uncertain if he could pull out with the bitcoins anytime.

I also thought about this, so I would only invest the minimum amount possible just to be safe. It would be wise to make a decentralized casino based on smart contracts platform like Lisk or Ethereum. That would make it even safer for investments, as everything will be based on smart contracts that would prevent the owner from getting access to the funds. This would be similar to some Ethereum pyramid apps that I've seen around lately. They claim that its code prevents the owner from getting access to the funds.

LFC_Bitcoin

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You need to be lucky to find a good casino in its early development & you also need to get lucky finding a new casino that doesn't scam you.

Overall I'd advise you not to do it, I think the ship has sailed. It's too expensive for a new casino to open & make it now.

philiveyjr

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You might find a few investing casinos, but I honestly would recommend staying away from it. No matter how honest an operator might look, its uncertain if he could pull out with the bitcoins anytime.

MoneypakTrader.com

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Never spend your money before you have it.

Quote from: Patatas on June 10, 2016, 03:04:32 PM

Totally depends on the Casino you're investing on.You could go through the investment terms and conditions for some of the famous sites and check what % of equity they're offering parallel to the wagered amount.Probably after spending a day or two on the sites you can have a rough idea about the profits you can expect according to the daily bets.Still, its a risky part of the game .

You can check out your website : Crypto-Games.net and go through the FAQ section to know more the investment plans.If you're convinced with our overall status ,give it a shot with your investment.

Thank you for your recommendation. Crypto-games.net looks like a pretty good gambling site to put my Bitcoins into. I've gone through the FAQ, and read about investing into it so I will consider this as one of the many options to take my investments to the next level. So far, I have found SatoshiDice and Crypto-games very attractive to make the investment. If there are any other casinos, or if there is a list that I could find of casinos to invest into, please let me know. Cheesy

HammaSan

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I invested a little in yabtcl.com. It is still a small site but seem to be very honest. I spoke with an acquaintance of German origin living in Thailand who also invested there and is confident. As he is a professor of mathematics and statistics, I'm relying on his information.

Patatas

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Totally depends on the Casino you're investing on.You could go through the investment terms and conditions for some of the famous sites and check what % of equity they're offering parallel to the wagered amount.Probably after spending a day or two on the sites you can have a rough idea about the profits you can expect according to the daily bets.Still, its a risky part of the game .

You can check out your website : Crypto-Games.net and go through the FAQ section to know more the investment plans.If you're convinced with our overall status ,give it a shot with your investment.

MoneypakTrader.com

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Quote from: NyeFe on June 10, 2016, 02:48:32 PM

It is worth investing, bitcoins popularity and ease of usage in gambling is becoming much more noticeable everyday. As you already, it ultimately depends on the type of casino you're investing in - does it offer something new, or is it just a generic version of already existing bitcoin casino services?

Quote from: iv4n on June 10, 2016, 02:56:19 PM

I believe it worth it, and its gonna worth even more in the future. My opinion is based on bitcoin gambling progress in few years. It's visible that is growing very fast, more and more casinos starting to accept btc as payment. So there is no dilemma about this, bitcoin gambling industry can just grow.

One little thing, in serious casinos there is some minimum how much you can invest, and that is for many people big money. So if you have enough, I don't think you will regret it with investing in bitcoin casinos.

Quote from: calkob on June 10, 2016, 02:48:10 PM

I invested in satoshi dice once and mad a decent profit, but the fact is you have no control over your bitcoin and if they decide to disappear with your bitcoin there isnt much you can do about it. I wouldnt and didnt invest anymore than i was willing to lose.

Great. Thanks for your replies and advice. I have seen that Bitcoin gambling is becoming more popular each day, so it will definitely be worth the investment. BitDice and SatoshiDice seems pretty interesting to start investing Bitcoins into. The only risk that be in these types of investments, is that it could exist the possibility of the casino site to close down and as a result I may lose all the Bitcoins invested. But I will just proceed with caution just to be safe.

Does anyone know if BitDice is trustworthy? Just want to know your reviews about it in case I put some coins into it. Cheesy

iv4n

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I believe it worth it, and its gonna worth even more in the future. My opinion is based on bitcoin gambling progress in few years. It's visible that is growing very fast, more and more casinos starting to accept btc as payment. So there is no dilemma about this, bitcoin gambling industry can just grow.

One little thing, in serious casinos there is some minimum how much you can invest, and that is for many people big money. So if you have enough, I don't think you will regret it with investing in bitcoin casinos.

NyeFe

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It is worth investing, bitcoins popularity and ease of usage in gambling is becoming much more noticeable everyday. As you already, it ultimately depends on the type of casino you're investing in - does it offer something new, or is it just a generic version of already existing bitcoin casino services?

calkob

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I invested in satoshi dice once and mad a decent profit, but the fact is you have no control over your bitcoin and if they decide to disappear with your bitcoin there isnt much you can do about it. I wouldnt and didnt invest anymore than i was willing to lose.

Topic: Investing in Bitcoin Casinos are really worth it? - page 16. (Read 20421 times)