MoneyPot - Crash with the lowest house edge - page 6.

hopenotlate

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Quote from: leomedina on August 29, 2023, 07:08:25 PM

Quote from: hopenotlate on August 26, 2023, 04:34:00 PM

The original moneypot game had an awesome, in my opinion, bonus feature awarding players cashing out later than others ( that bonus money were funded by crashing at 0x is I recall correctly): is there for which you didn't set this feature on tour site?

What Daniel has said before is that only a handful of players benefited from the bonus at the expense of all other players that ignored it. We haven't thought about bringing it back, but maybe some kind of bonus could work if it's the casino that pays for it.

Allow me to disagree with you on this : I think all the players undergo a certain house edge but some of them who play paying attention to other players' behaviour, might lower their house edge benefiting of the bonus feature; but maybe you can refute my assertion in a mathematical way considering your background.

Furthemore, from a "marketing" point of view, bonus feature can differentiate Moneypot from basically all their competitors and it also introduce a "social" aspect in the game due to the fact that one's winnings are in some way influenced by one's own behavior in relation to that of others.

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Quote from: leomedina on August 29, 2023, 07:08:25 PM

To the best of my knowledge, no other casino is doing the same (or at least the way we do it), but I didn't come up with the idea of a dynamic house edge myself. I took inspiration from the "original MoneyPot"

I respect your decision to go with this strategy considering the risks involved. The Kelly criterion has helped me time and time again though this is the first time that I am seeing a casino use it in this manner.

Quote from: Little Mouse on August 30, 2023, 11:57:24 PM

Well, I know bustabit offers the same as of this. I have played there too, long ago. I kept losing there lol no matter what my strategy was there. But in moneypot, I'm winning Cheesy

Long live moneypot.

It's because of the low house edge which will increase and limit your wins as your bet sizes grow bigger.

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I have been playing in moneypot for the last few days, not an active gambler. As some of you know, I really enjoy crash games particularly, this was my real pleasure playing in moneypot. The simplicity and the house edge is the most I liked. Well, I know bustabit offers the same as of this. I have played there too, long ago. I kept losing there lol no matter what my strategy was there. But in moneypot, I'm winning Cheesy

Long live moneypot.

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Quote from: hopenotlate on August 26, 2023, 04:34:00 PM

The original moneypot game had an awesome, in my opinion, bonus feature awarding players cashing out later than others ( that bonus money were funded by crashing at 0x is I recall correctly): is there for which you didn't set this feature on tour site?

What Daniel has said before is that only a handful of players benefited from the bonus at the expense of all other players that ignored it. We haven't thought about bringing it back, but maybe some kind of bonus could work if it's the casino that pays for it.

Quote from: Saint-loup on August 27, 2023, 02:54:51 PM

Quote from: leomedina on July 14, 2023, 09:44:06 PM

The reason you are seeing a max profit of 100BTC in the calculator is because it defaults to a bankroll of 2000BTC. You can actually change that value and see what the max profit would be for different bankroll sizes. For example, if you change it to 37BTC or 38BTC (around what MoneyPot currently has) you will see the max profit gets closer to what we have at the moment.

Do I think if its too much? That's actually a pretty good question! The short answer is no, because the Kelly criterion allows us to safely do so. In practice the max profit only gets hit when the casino is risking a considerable portion of its bankroll. But when that happens the house edge will increase too (even higher than the competition's 1%). A casino with a fixed house edge can't take that risk, because they don't adjust their house edge to make up for it. Have a look at our maths page, I did my best to explain how we calculate things.

That's a very smart strategy indeed, usually players or traders following the Kelly criterion strategy play more money when they have an higher edge on their bet or trade but I had never heard of casinos applying this strategy against players before. It's something you've seen elsewhere or that you've invented yourself? I guess lay bettors at betting exchanges use a similar strategy by lowering odds when they want or need to increase the liability of one lay bet though.

To the best of my knowledge, no other casino is doing the same (or at least the way we do it), but I didn't come up with the idea of a dynamic house edge myself. I took inspiration from the "original MoneyPot"

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Quote from: Mahdirakib on August 28, 2023, 11:36:29 AM

KYC verification isn't required at MoneyPot at this moment. There is no promotion or bonus system at MoneyPot now which can be abused with multiple accounts. They only offer investment option, I believe people aren't going to create multiple account to invest on their bankroll. BTW, here is a reply of OP about the KYC related inquiry.

Quote from: leomedina on July 14, 2023, 12:52:20 AM

Thank you! I won't be performing KYC verifications unless required by some government authority. I will make sure I make it clearer in the terms and conditions.

Moreover, MoneyPot has followed the steps of Bustabit. So, they may follow the Bustabit KYC related requirements, which is limited to the age and citizenship verification. This verification can be done by submitting government issued ID or passport.

Yeah. I went back and checked some of her posts in this thread in detail and understood that. Thanks for the extra clarification though. It's good to see them being upfront about their KYC policy in this manner.

Am expecting them to offer bonuses and promotions later on though when the site becomes more popular with time.

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Quote from: Porfirii on August 29, 2023, 12:09:01 AM

Quote from: Mahdirakib on August 28, 2023, 11:36:29 AM

-snip-

Moreover, MoneyPot has followed the steps of Bustabit. So, they may follow the Bustabit KYC related requirements, which is limited to the age and citizenship verification. This verification can be done by submitting government issued ID or passport.

Quote from: https://moneypot.com/tos

To ensure that no prohibited users are using the service, the operator may demand proof of age, citizenship and residence of any user at his own discretion. If the user does not provide adequate proof at the operator's request they may be barred from further using the service.

That's what I think too: when it says "proof" of age, residence and citizenship, it doesn't seem to be referring to a simple "statement" from the user, but documental evidence.

Nothing to blame specifically on them, as that seems to be the rule for most crypto casinos lately. As OP said, I hope they make it clear in their TOS.

The issue of kyc is no longer something any of us gamblers should be surprised about when it comes up, even on casinos where it is least expected, normally, new casinos like MoneyPot shouldn't be concerned about kyc but be more focused on how to grow thier userbase, as well as business, but then , a lot have changed this days in terms of regulations, I feel like regulations, especially in crypto is getting stronger, and to avoid issues with the regulatory agencies, every crypto casino is trying to implement some level of kyc , just as a measure to be in compliance with the law , so I am not really going to blame the casinos though. .

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Quote from: Mahdirakib on August 28, 2023, 11:36:29 AM

-snip-

Moreover, MoneyPot has followed the steps of Bustabit. So, they may follow the Bustabit KYC related requirements, which is limited to the age and citizenship verification. This verification can be done by submitting government issued ID or passport.

Quote from: https://moneypot.com/tos

To ensure that no prohibited users are using the service, the operator may demand proof of age, citizenship and residence of any user at his own discretion. If the user does not provide adequate proof at the operator's request they may be barred from further using the service.

That's what I think too: when it says "proof" of age, residence and citizenship, it doesn't seem to be referring to a simple "statement" from the user, but documental evidence.

Nothing to blame specifically on them, as that seems to be the rule for most crypto casinos lately. As OP said, I hope they make it clear in their TOS.

Mahdirakib

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Quote from: Haunebu on August 27, 2023, 03:54:41 AM

Great to hear. Can I submit the same KYC in multiple accounts if required since I will be operating them all by myself?

KYC verification isn't required at MoneyPot at this moment. There is no promotion or bonus system at MoneyPot now which can be abused with multiple accounts. They only offer investment option, I believe people aren't going to create multiple account to invest on their bankroll. BTW, here is a reply of OP about the KYC related inquiry.

Quote from: leomedina on July 14, 2023, 12:52:20 AM

Thank you! I won't be performing KYC verifications unless required by some government authority. I will make sure I make it clearer in the terms and conditions.

Moreover, MoneyPot has followed the steps of Bustabit. So, they may follow the Bustabit KYC related requirements, which is limited to the age and citizenship verification. This verification can be done by submitting government issued ID or passport.

Quote from: https://moneypot.com/tos

To ensure that no prohibited users are using the service, the operator may demand proof of age, citizenship and residence of any user at his own discretion. If the user does not provide adequate proof at the operator's request they may be barred from further using the service.

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Quote from: leomedina on July 14, 2023, 09:44:06 PM

First of all, thank you all for the good wishes.

The reason you are seeing a max profit of 100BTC in the calculator is because it defaults to a bankroll of 2000BTC. You can actually change that value and see what the max profit would be for different bankroll sizes. For example, if you change it to 37BTC or 38BTC (around what MoneyPot currently has) you will see the max profit gets closer to what we have at the moment.

Do I think if its too much? That's actually a pretty good question! The short answer is no, because the Kelly criterion allows us to safely do so. In practice the max profit only gets hit when the casino is risking a considerable portion of its bankroll. But when that happens the house edge will increase too (even higher than the competition's 1%). A casino with a fixed house edge can't take that risk, because they don't adjust their house edge to make up for it. Have a look at our maths page, I did my best to explain how we calculate things.

That's a very smart strategy indeed, usually players or traders following the Kelly criterion strategy play more money when they have an higher edge on their bet or trade but I had never heard of casinos applying this strategy against players before. It's something you've seen elsewhere or that you've invented yourself? I guess lay bettors at betting exchanges use a similar strategy by lowering odds when they want or need to increase the liability of one lay bet though.

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Quote from: Shishir99 on August 27, 2023, 08:47:53 AM

Quote from: arallmuus on August 26, 2023, 05:20:39 AM

Quote from: Shishir99 on August 25, 2023, 10:46:33 PM

Even though they have a crash game only at this moment, they might add other games in the future. We don't know the possibility. But it will depend on user experience. Moneypot claims it's providing the lowest house edge Crash game at this moment.

They wont, or else there is no point on using that name. The name 'moneypot' is probably one of the trademark for crash game back then so if they want to add another game then its totally pointless.

Anyone that started gambling with bitcoin 5-10 years ago is pretty familiar with the name 'moneypot' and its an own brand for a simple crash game. Imagine checking in 'moneypot' only to find that there are slots or whatsoever in there, feels pretty weird

I have a different point of view. Everyone doesn't really care about what is the name. For example, there are a couple of casino names with the word dice but it's not the only game they have. For example, Duckdice started as a dice casino but recently they have address sports betting as well. Windice also have a couple of other games. Crashino represent crash game yet they have 3rd part games and sportsbet as well.

It's true that the name of Moneypot is familiar for it's original crash game. But, I won't mind if they develop other games in the future. I don't think it will feel weird but I respect your opinion too

Any addition is possible, the first moneypot was crash game only but they expand the business by letting people to be owner of game app inside moneypot.
It may not happen again as the old day IMO but adding more games is possible in the future because casino is a business and the owner may try to provide more games for more profit.
As what you said, these days domain name is not limitting the games as proven by duckdice, windice, and some other casinos.

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I haven't yet played in the site but I noticed it having more greens than most of the crash sites. Good luck with your venture sir

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Quote from: arallmuus on August 26, 2023, 05:20:39 AM

Quote from: Shishir99 on August 25, 2023, 10:46:33 PM

Even though they have a crash game only at this moment, they might add other games in the future. We don't know the possibility. But it will depend on user experience. Moneypot claims it's providing the lowest house edge Crash game at this moment.

They wont, or else there is no point on using that name. The name 'moneypot' is probably one of the trademark for crash game back then so if they want to add another game then its totally pointless.

Anyone that started gambling with bitcoin 5-10 years ago is pretty familiar with the name 'moneypot' and its an own brand for a simple crash game. Imagine checking in 'moneypot' only to find that there are slots or whatsoever in there, feels pretty weird

I have a different point of view. Everyone doesn't really care about what is the name. For example, there are a couple of casino names with the word dice but it's not the only game they have. For example, Duckdice started as a dice casino but recently they have address sports betting as well. Windice also have a couple of other games. Crashino represent crash game yet they have 3rd part games and sportsbet as well.

It's true that the name of Moneypot is familiar for it's original crash game. But, I won't mind if they develop other games in the future. I don't think it will feel weird but I respect your opinion too

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Quote from: ultrloa on August 26, 2023, 05:40:58 AM

If that's the case then nothing wrong with that situation but most of the casino avoid such risky possibilities that's why while its early they eliminate the usage of multiple accounts on their casino to avoid further more problems. Maybe for this situation they should ask first the casino representative if they allow this but for sure KYC will be ask for verification so that they would know that its fine and verified to them that you are not abusing their system.

Yeah. Some sites do completely restrict multiple accounts no matter the reason while some others allow them depending on the reason. This is why I always clarify with the site in question before trying to create them.

Quote from: leomedina on August 26, 2023, 03:38:06 PM

Yeah, it's ok. You can create multiple accounts, although playing with more than one won't give you any advantage at all. But of course, using multiple accounts to abuse any promotion, bonus, etc., is not.

Great to hear. Can I submit the same KYC in multiple accounts if required since I will be operating them all by myself?

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Quote from: Madnet1990 on August 25, 2023, 10:35:31 PM

Edited out

Hey this is not the best way the quote someone and I advise you to use the right format to make posts in the forum, I have seen two of you posts which are the only posts you made here in the forum having same mistakes of quoting someone without adding your own contribution and that is not acceptable here in the forum.

Back to the discussion moneypot team let me join others to welcome you guys to bitcointalk it's so nice to have you guys around and seeing your signature around the forum make more sense so let's see how thing goes.

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The original moneypot game had an awesome, in my opinion, bonus feature awarding players cashing out later than others ( that bonus money were funded by crashing at 0x is I recall correctly): is there for which you didn't set this feature on tour site?

leomedina

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Quote from: Haunebu on August 25, 2023, 01:02:15 PM

Just checked your site out and I loved the overall design and UI. Am a big crash fan myself and the fact that you guys are offering your game with a 0.1% HE for the lowest multiplier is truly epic.

Can you clarify whether it's alright to create multiple accounts on your site without abusing any promotions etc?

Yeah, it's ok. You can create multiple accounts, although playing with more than one won't give you any advantage at all. But of course, using multiple accounts to abuse any promotion, bonus, etc., is not.

Quote from: Bitinity on August 26, 2023, 03:29:21 AM

Quote from: BitcoinGirl.Club on August 25, 2023, 01:12:00 PM

Quote from: komisariatku on August 25, 2023, 12:36:45 PM

I've signed up at Moneypot. I see not many crypto options to play with there. Will you be adding other cryptos to play in the future? to be honest I don't like playing with bitcoin, because it has to input a lot of 0, I prefer tron. Hopefully there will be tron in the future. Wink

As far as I saw, they are Bitcoin Crash site. So, I think expecting any other currency will be too ambitious expectation.

It is stated in the help page already that this site is an exclusive bitcoin site so there will be no chance for players to see other payment method. This is exactly the same as bustabit, an old bitcoin crash site with no other payment method except bitcoin although they have been running for many years now. You are right that players should not expect to see other currencies here unless moneypot has a different plan in the future by expanding the services.

I would love to support other currencies, but I can't promise anything yet. It would take a huge amount of effort to do it properly, and right now we have other priorities.

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Quote from: JackpotRacer on August 26, 2023, 05:37:50 AM

Now I am confused. I know that the moneypot I know had no crash game.
As far as I know and remember, Moneypot started as a crash game and then was used in a completely different way.

cheers

It’s because the original owner of the first moneypot casino that offers crash game is already not affiliated to the current owner of moneypot. The casino is a complete new casino since the current owner just bought the domain due to its rich history.

You can check below the official statement of the current owner regarding the current moneypot version.

Quote from: leomedina on July 13, 2023, 05:20:22 PM

,

The domain moneypot.com has quite a rich history, but just to be clear I purchased this domain and have no affiliation with previous owners. To my knowledge there's been 5 owners (me included) and has been used for various things. I bought this domain because it was originally used as the very original "crash" game, and when it had invented crash it used a "dynamic house edge" which is something I am hoping to re-popularize.

Thank you everybody else for all the feedback!

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Quote from: Haunebu on August 26, 2023, 05:28:08 AM

Quote from: BitcoinGirl.Club on August 25, 2023, 01:12:00 PM

Why would anyone need a multi account? Isn't it a common practice in gambling sites not to have multi account or your will be banned or lose your money with them?

It is common practice in most sites, but some sites like Stake etc actually allow multiple accounts as long as they aren't abusing any promotions, bonuses etc which they can detect pretty easily.

There are several reasons why gamblers use multiple accounts in a legit manner(Different family members using same IP etc).

If that's the case then nothing wrong with that situation but most of the casino avoid such risky possibilities that's why while its early they eliminate the usage of multiple accounts on their casino to avoid further more problems. Maybe for this situation they should ask first the casino representative if they allow this but for sure KYC will be ask for verification so that they would know that its fine and verified to them that you are not abusing their system.

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Quote from: arallmuus on August 26, 2023, 05:20:39 AM

Quote from: Shishir99 on August 25, 2023, 10:46:33 PM

Even though they have a crash game only at this moment, they might add other games in the future. We don't know the possibility. But it will depend on user experience. Moneypot claims it's providing the lowest house edge Crash game at this moment.

They wont, or else there is no point on using that name. The name 'moneypot' is probably one of the trademark for crash game back then so if they want to add another game then its totally pointless.

Anyone that started gambling with bitcoin 5-10 years ago is pretty familiar with the name 'moneypot' and its an own brand for a simple crash game. Imagine checking in 'moneypot' only to find that there are slots or whatsoever in there, feels pretty weird

Now I am confused. I know that the moneypot I know had no crash game.
As far as I know and remember, Moneypot started as a crash game and then was used in a completely different way.

cheers

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Quote from: BitcoinGirl.Club on August 25, 2023, 01:12:00 PM

Why would anyone need a multi account? Isn't it a common practice in gambling sites not to have multi account or your will be banned or lose your money with them?

It is common practice in most sites, but some sites like Stake etc actually allow multiple accounts as long as they aren't abusing any promotions, bonuses etc which they can detect pretty easily.

There are several reasons why gamblers use multiple accounts in a legit manner(Different family members using same IP etc).

Topic: MoneyPot - Crash with the lowest house edge - page 6. (Read 2730 times)