Investing on gambling websites | Bitcointalksearch.org

PeterB

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Quote from: Bitcoin Betting Guide on March 29, 2015, 08:28:44 PM

Quote from: Vezalke on March 23, 2015, 06:17:23 AM

I'm curious how investing on gambling websites work?
Let's make an example that website has 100 BTC of it's own capital.
Then an investor come and deposit another 100 BTC. Total bankroll of gambling website is then 200 BTC
What does this mean? Does the owner and investor share profits 50/50, or has the owner more percentage, because he build the website?

Here is the best explanation and answer to your questions

http://bitcoin-dice-guide.com/house-investment-explained/

Quote from: asuryan180 on March 23, 2015, 07:15:50 AM

Quote from: Yeah? on March 23, 2015, 06:51:56 AM

Usually they'll explain how who gets what percentage of the profit share. It's never really 50/50 though. I'd be careful of investing in dice sites as well because most of them run off with users funds at some point.

No it is not 50/50 how could it be you have only invested some bitcoin the dev has built and maintained it and built the traffic to the point where you decide to invest, be happy with around 10%.

I have a hard time working out what you are warning here what dice sites are you warning about running with users money please name at least 5 for your statement to have any baring?

I will name 5 that have not Bitdice.me, Primedice, Justdice, pocketrocket,Rollin.io and many many more that have not ran anywhere and they could have quite easily an made a fortune so don't aim that at 'most' of them because it is an untrue statement is it not?

1. Ice Dice
2. Coinwin
3. DiceNinja
4. DiceBitco.in

Those are the ones that have run of with investors money that I can think of in the last 6 months. The intensives are perverse because the operator makes more money doing an exit scam than they make running the site successfully. What is needed is a trustless implementation with multisig and smart contract et cetera.

I invested ฿1 in the house bank of the top 9 dice investment sites and 3 have scammed me for the full amount, so 33%, not most but enough to make it a loosing proposition overall. All of those that have not scammed me are in profit, 3 of them a very healthy profit.

You can see the details and the up to date stats here

http://bitcoin-dice-guide.com/dice-investment-comparison/

Wow great summary and info. I think it would be helpful if your comparison table also listed how long the dice site has run. Also do any of the sites have known operators with real identities?

lalaisen

newbie

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I want to earn money by investing for game site but I am not sure which site is good for that.

Any suggestion? Please!

Thanks !

funtotry

sr. member

Activity: 420

Merit: 250

Ever wanted to run your own casino? PM me for info

You contribute a percentage of the bankroll and earn the respective profit.
This way that the casino is owned by the people, meaning the people can essentially "bet on bets", get a solid profit, and supply a bankroll. It also enables the house to start out with a very small bankroll, so they don't need 10 btc to start up the site.
I have been very succesful with investing in casinos, earned a 50% profit on mydice

Stars

sr. member

Activity: 462

Merit: 250

Quote from: Bitcoin Betting Guide on March 29, 2015, 08:28:44 PM

Quote from: Vezalke on March 23, 2015, 06:17:23 AM

I'm curious how investing on gambling websites work?
Let's make an example that website has 100 BTC of it's own capital.
Then an investor come and deposit another 100 BTC. Total bankroll of gambling website is then 200 BTC
What does this mean? Does the owner and investor share profits 50/50, or has the owner more percentage, because he build the website?

Here is the best explanation and answer to your questions

http://bitcoin-dice-guide.com/house-investment-explained/

Quote from: asuryan180 on March 23, 2015, 07:15:50 AM

Quote from: Yeah? on March 23, 2015, 06:51:56 AM

Usually they'll explain how who gets what percentage of the profit share. It's never really 50/50 though. I'd be careful of investing in dice sites as well because most of them run off with users funds at some point.

No it is not 50/50 how could it be you have only invested some bitcoin the dev has built and maintained it and built the traffic to the point where you decide to invest, be happy with around 10%.

I have a hard time working out what you are warning here what dice sites are you warning about running with users money please name at least 5 for your statement to have any baring?

I will name 5 that have not Bitdice.me, Primedice, Justdice, pocketrocket,Rollin.io and many many more that have not ran anywhere and they could have quite easily an made a fortune so don't aim that at 'most' of them because it is an untrue statement is it not?

1. Ice Dice
2. Coinwin
3. DiceNinja
4. DiceBitco.in

Those are the ones that have run of with investors money that I can think of in the last 6 months. The intensives are perverse because the operator makes more money doing an exit scam than they make running the site successfully. What is needed is a trustless implementation with multisig and smart contract et cetera.

I invested ฿1 in the house bank of the top 9 dice investment sites and 3 have scammed me for the full amount, so 33%, not most but enough to make it a loosing proposition overall. All of those that have not scammed me are in profit, 3 of them a very healthy profit.

You can see the details and the up to date stats here

http://bitcoin-dice-guide.com/dice-investment-comparison/

Since then, PRC has started taking 0.25% of the wagered amount rather than 0.1%. So it's not accurate for prc as of right now. Looks good for every other website though.

skierchewing

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Activity: 338

Merit: 250

i'm new here, i would like to know too

psykachu

full member

Activity: 210

Merit: 100

depends on what website you using... each one have different rates

Bitcoin Betting Guide

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Activity: 180

Merit: 100

Quote from: Vezalke on March 23, 2015, 06:17:23 AM

I'm curious how investing on gambling websites work?
Let's make an example that website has 100 BTC of it's own capital.
Then an investor come and deposit another 100 BTC. Total bankroll of gambling website is then 200 BTC
What does this mean? Does the owner and investor share profits 50/50, or has the owner more percentage, because he build the website?

Here is the best explanation and answer to your questions

http://www.bitcoin-dice-guide.com/house-investment-explained/

Quote from: asuryan180 on March 23, 2015, 07:15:50 AM

Quote from: Yeah? on March 23, 2015, 06:51:56 AM

Usually they'll explain how who gets what percentage of the profit share. It's never really 50/50 though. I'd be careful of investing in dice sites as well because most of them run off with users funds at some point.

No it is not 50/50 how could it be you have only invested some bitcoin the dev has built and maintained it and built the traffic to the point where you decide to invest, be happy with around 10%.

I have a hard time working out what you are warning here what dice sites are you warning about running with users money please name at least 5 for your statement to have any baring?

I will name 5 that have not Bitdice.me, Primedice, Justdice, pocketrocket,Rollin.io and many many more that have not ran anywhere and they could have quite easily an made a fortune so don't aim that at 'most' of them because it is an untrue statement is it not?

1. Ice Dice
2. Coinwin
3. DiceNinja
4. DiceBitco.in

Those are the ones that have run of with investors money that I can think of in the last 6 months. The intensives are perverse because the operator makes more money doing an exit scam than they make running the site successfully. What is needed is a trustless implementation with multisig and smart contract et cetera.

I invested ฿1 in the house bank of the top 9 dice investment sites and 3 have scammed me for the full amount, so 33%, not most but enough to make it a loosing proposition overall. All of those that have not scammed me are in profit, 3 of them a very healthy profit.

You can see the details and the up to date stats here

http://www.bitcoin-dice-guide.com/dice-investment-comparison/

sherbyspark

hero member

Activity: 910

Merit: 1000

Quote from: Aleator on March 29, 2015, 11:46:28 AM

There are two types of investing though , one is crowdfunding like just-dice example , the other is private investment like primedice. The latter is better.

Actually it maybe not. With the former stats are much more transparent. With the latter you will have to trust the site owner to make right use of your funds and believe what they say. Specially with respect to bitcoin the former is also better because in the latter incase the owner decides to shut down, he might not even return your coins and you will be left alone to complain. Whereas in crowdfunded some people together can take the legal action. ANyways, I doubt there are any private funding opportunities you will be able to find, and legit ones.

Aleator

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There are two types of investing though , one is crowdfunding like just-dice example , the other is private investment like primedice. The latter is better.

sherbyspark

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Quote from: Wendigo on March 29, 2015, 12:11:27 AM

Thank you for providing the Bitcoinstrip article on investing in bitcoin casinos. So basically if you want to get a decent profit out of your investment you need to find a casino with small to average bankroll and a great turnaround to get anything more than 100% of your investment? And investment in the well established casinos now like Just-Dice will yield minimal rewards?

I think yes thats the case. But being able to trust a small bankroll casino or anyone is the main question. Also I doubt you will get a really good profit by investing. I had around 0.1 BTC invested in the 2 best casinos and have almost doubled it in only one of them. But yes investing in established casinos , will yield minimal rewards , but that depends on the amount you invest.
Say you invest 1BTC in a site with 1000 BTC bankroll and 1 BTC in a site with 2000 BTC bankroll, then in the first one you are 0.1% and in the second 0.05%. So if a player loses 10 BTC to the site, then the amount you get in the second casino will be lower, as you represent a smaller portion of the bankroll. But same is the case with losses.

If the player wins in the casino, then you will lose a smaller amount in the second one. But since investing is somewhat +EV it is better to invest in the one with a lower bankroll as long as it is trusted.

Wendigo

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Thank you for providing the Bitcoinstrip article on investing in bitcoin casinos. So basically if you want to get a decent profit out of your investment you need to find a casino with small to average bankroll and a great turnaround to get anything more than 100% of your investment? And investment in the well established casinos now like Just-Dice will yield minimal rewards?

birdcat90

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Activity: 602

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Quote from: Vezalke on March 23, 2015, 06:17:23 AM

I'm curious how investing on gambling websites work?
Let's make an example that website has 100 BTC of it's own capital.
Then an investor come and deposit another 100 BTC. Total bankroll of gambling website is then 200 BTC
What does this mean? Does the owner and investor share profits 50/50, or has the owner more percentage, because he build the website?

you may need to know about profit share and leverage or kelly?

you need to decide how many risk you will take on your investment..the risk and the profit will come in the same proportion..

Nthused

legendary

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If you want to invest in Just-Dice Bankroll you will need CLAM instead of BTC.

sherbyspark

hero member

Activity: 910

Merit: 1000

Quote from: Vezalke on March 23, 2015, 06:17:23 AM

I'm curious how investing on gambling websites work?
Let's make an example that website has 100 BTC of it's own capital.
Then an investor come and deposit another 100 BTC. Total bankroll of gambling website is then 200 BTC
What does this mean? Does the owner and investor share profits 50/50, or has the owner more percentage, because he build the website?

You can find all the information about that on the FAQ's on the investment pages of the sites. Depending on the site most owners take 10% of the profit amount for running the site and maintenance. Some of them take an amount based on the wagered amount, around 0.1% of the wagered amount for some sites.

The bankroll is the most important thing for running the website so charging anything over 10% depending on the game isn't a profitable investment opportunity for any investor.

Minnlo

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Quote from: Vezalke on March 23, 2015, 06:17:23 AM

I'm curious how investing on gambling websites work?
Let's make an example that website has 100 BTC of it's own capital.
Then an investor come and deposit another 100 BTC. Total bankroll of gambling website is then 200 BTC
What does this mean? Does the owner and investor share profits 50/50, or has the owner more percentage, because he build the website?

If 50% of the site bankroll is contributed by you, then you will be able to share 50% of the house profit or lose, but it is subject to a commission (typically 10%) before you are able to divest.

So if the house win 10 btc, you will get 5 btc profit before divestment and 4.5 btc profit after divestment.

waterpile

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Quote from: asuryan180 on March 23, 2015, 07:15:50 AM

Quote from: Yeah? on March 23, 2015, 06:51:56 AM

Usually they'll explain how who gets what percentage of the profit share. It's never really 50/50 though. I'd be careful of investing in dice sites as well because most of them run off with users funds at some point.

No it is not 50/50 how could it be you have only invested some bitcoin the dev has built and maintained it and built the traffic to the point where you decide to invest, be happy with around 10%.

I have a hard time working out what you are warning here what dice sites are you warning about running with users money please name at least 5 for your statement to have any baring?

I will name 5 that have not Bitdice.me, Primedice, Justdice, pocketrocket,Rollin.io and many many more that have not ran anywhere and they could have quite easily an made a fortune so don't aim that at 'most' of them because it is an untrue statement is it not?

I dont think he is warning about something, he is just asking the share of profits..

asuryan180

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Quote from: Yeah? on March 23, 2015, 06:51:56 AM

Usually they'll explain how who gets what percentage of the profit share. It's never really 50/50 though. I'd be careful of investing in dice sites as well because most of them run off with users funds at some point.

No it is not 50/50 how could it be you have only invested some bitcoin the dev has built and maintained it and built the traffic to the point where you decide to invest, be happy with around 10%.

I have a hard time working out what you are warning here what dice sites are you warning about running with users money please name at least 5 for your statement to have any baring?

I will name 5 that have not Bitdice.me, Primedice, Justdice, pocketrocket,Rollin.io and many many more that have not ran anywhere and they could have quite easily an made a fortune so don't aim that at 'most' of them because it is an untrue statement is it not?

waterpile

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Most dice sites go with these, the owner gets 10% of the profit while the investors gets 90%. You can just visit the site and find the FAQ.. mostly some sites explain it there.

XinXan

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Here is an article that explains everything:

https://thebitcoinstrip.com/blog/investing-in-bitcoin-casinos.html

It also has the top gambling btc websites

Yeah?

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Usually they'll explain how who gets what percentage of the profit share. It's never really 50/50 though. I'd be careful of investing in dice sites as well because most of them run off with users funds at some point.

Topic: Investing on gambling websites (Read 1898 times)