🌟🎲🌟 MoneyPot.com - page 7. | Bitcointalksearch.org

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Quote from: Edraket31 on December 20, 2016, 10:15:10 AM

Quote from: BlockChainLottery on December 20, 2016, 10:03:44 AM

Quote from: chris200x9 on December 20, 2016, 08:00:34 AM

Can somebody explain to me how profit and losses sharing will works here?

Case one - player wins 1 BTC from any moneypot app in single bet.

What I know is -

40% to app owners ( 40% of the house edge) equals to - 0.004 BTC
10% to Mp ( 10% of the house edge) equals to - 0.001 BTC

Investors need to pay - 1BTC+ 0.004+0.001 = 1.005BTC in total will disappear from the investors account.

Case two - player losses 1 BTC in any moneypot app in single bet.

What I know is -

40% to app owners ( 40% of the house edge) equals to - 0.004 BTC
10% to Mp ( 10% of the house edge) equals to - 0.001 BTC
40% to investors - ( 40% of the house edge) equals to - 0.004 BTC

All together is 0.009 BTC

If we deduct this 0.009 BTC from 1 BTC = 0.991 BTC

Please explain to me who will take this 0.991 BTC and how it will be distributed

I know my understanding is not correct. Thanks

First of all, with 1% house edge, to win 1 btc, the one who is betting must wager 1.01btc.

Case 1: 50% of house edge goes to investors, 50% of he to app owners, and investors have 1btc loss
Case 2: he is the same as in case 1, 1btc goes to investors

Wrong, even .01btc can win 1btc if it hit 100x multiplier.

Case1: correct
Case2: .004btc will go to the app owner, .001btc to moneypot and the .995btc will go to the investors

If im wrong, please correct me

You're wrong. If it's a .01 BTC bet, assuming 1% house edge, the app owner will get 0.00004 BTC, and moneypot gets 0.00001BTC, as their share is based on the bet size and house edge, not attempted win.

If someone loses 1 BTC, I assume the app owner would get 0.1 BTC, moneypot gets 0.1 BTC (and both get their normal house edge share), and investors get ~0.8BTC.

BlockChainLottery

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Activity: 332

Merit: 250

AwesomeDice.net

I forgot to mention in my example, it uses a multiplier of 2. Wink

Furthermore, i think your example isn't right.

Edraket31

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Activity: 1190

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Quote from: BlockChainLottery on December 20, 2016, 10:03:44 AM

Quote from: chris200x9 on December 20, 2016, 08:00:34 AM

Can somebody explain to me how profit and losses sharing will works here?

Case one - player wins 1 BTC from any moneypot app in single bet.

What I know is -

40% to app owners ( 40% of the house edge) equals to - 0.004 BTC
10% to Mp ( 10% of the house edge) equals to - 0.001 BTC

Investors need to pay - 1BTC+ 0.004+0.001 = 1.005BTC in total will disappear from the investors account.

Case two - player losses 1 BTC in any moneypot app in single bet.

What I know is -

40% to app owners ( 40% of the house edge) equals to - 0.004 BTC
10% to Mp ( 10% of the house edge) equals to - 0.001 BTC
40% to investors - ( 40% of the house edge) equals to - 0.004 BTC

All together is 0.009 BTC

If we deduct this 0.009 BTC from 1 BTC = 0.991 BTC

Please explain to me who will take this 0.991 BTC and how it will be distributed

I know my understanding is not correct. Thanks

First of all, with 1% house edge, to win 1 btc, the one who is betting must wager 1.01btc.

Case 1: 50% of house edge goes to investors, 50% of he to app owners, and investors have 1btc loss
Case 2: he is the same as in case 1, 1btc goes to investors

Wrong, even .01btc can win 1btc if it hit 100x multiplier.

Case1: correct
Case2: .004btc will go to the app owner, .001btc to moneypot and the .995btc will go to the investors

If im wrong, please correct me

BlockChainLottery

sr. member

Activity: 332

Merit: 250

AwesomeDice.net

Quote from: chris200x9 on December 20, 2016, 08:00:34 AM

Can somebody explain to me how profit and losses sharing will works here?

Case one - player wins 1 BTC from any moneypot app in single bet.

What I know is -

40% to app owners ( 40% of the house edge) equals to - 0.004 BTC
10% to Mp ( 10% of the house edge) equals to - 0.001 BTC

Investors need to pay - 1BTC+ 0.004+0.001 = 1.005BTC in total will disappear from the investors account.

Case two - player losses 1 BTC in any moneypot app in single bet.

What I know is -

40% to app owners ( 40% of the house edge) equals to - 0.004 BTC
10% to Mp ( 10% of the house edge) equals to - 0.001 BTC
40% to investors - ( 40% of the house edge) equals to - 0.004 BTC

All together is 0.009 BTC

If we deduct this 0.009 BTC from 1 BTC = 0.991 BTC

Please explain to me who will take this 0.991 BTC and how it will be distributed

I know my understanding is not correct. Thanks

First of all, with 1% house edge, to win 1 btc with a multiplier of 2, the one who is betting must wager 1.01btc.

Case 1: 50% of house edge goes to MP, 50% of he to app owners, and investors have 1btc loss
Case 2: he is the same as in case 1, 1btc goes to investors

Edit: multiplier

chris200x9

legendary

Activity: 1316

Merit: 1011

Can somebody explain to me how profit and losses sharing will works here?

Case one - player wins 1 BTC from any moneypot app in single bet.

What I know is -

40% to app owners ( 40% of the house edge) equals to - 0.004 BTC
10% to Mp ( 10% of the house edge) equals to - 0.001 BTC

Investors need to pay - 1BTC+ 0.004+0.001 = 1.005BTC in total will disappear from the investors account.

Case two - player losses 1 BTC in any moneypot app in single bet.

What I know is -

40% to app owners ( 40% of the house edge) equals to - 0.004 BTC
10% to Mp ( 10% of the house edge) equals to - 0.001 BTC
40% to investors - ( 40% of the house edge) equals to - 0.004 BTC

All together is 0.009 BTC

If we deduct this 0.009 BTC from 1 BTC = 0.991 BTC

Please explain to me who will take this 0.991 BTC and how it will be distributed

I know my understanding is not correct. Thanks

3x1t

member

Activity: 233

Merit: 10

Thats weird, could have sworn it was even you who told it.
Nvm ... guess we could welcome you to the world of provably fair sites then.

Or wait, what algo you using now to generate clientseeds ?

Btw... ye it generates as many seeds as you want. You might want to read up on that if you still dont know how it works.

joter85

sr. member

Activity: 395

Merit: 255

crypto.games: #1 Gambling Site

Quote from: 3x1t on December 19, 2016, 04:37:20 PM

Quote from: joter85 on December 19, 2016, 09:50:34 AM

Quote from: 3x1t on December 15, 2016, 01:06:23 PM

Quote from: DogecoinMachine on December 15, 2016, 04:22:03 AM

Quote from: fiscorcle on December 15, 2016, 02:38:57 AM

Quote from: ranlo on December 15, 2016, 02:38:16 AM

Quote from: fiscorcle on December 15, 2016, 02:29:53 AM

Quote from: BoXXoB on December 15, 2016, 02:13:03 AM

Quote from: Quickseller on December 15, 2016, 02:07:15 AM

Quote from: BoXXoB on December 15, 2016, 01:52:55 AM

App owners and moneypot owners have no risk whatsoever. They take commision from the wagered bitcoins, investors take the real risk of players gambling against their bankroll. So yes, only investors lost.

App owners incur the cost of hosting the app and the cost of marketing/attracting players to play at their app. MP owners incur the cost of attracting app owners to develop MP apps and to attract players to play at MP, as well as the cost of securing funds, and the various seeds.

A lot of the costs that both app owners and MP owners incur will be incurred regardless of betting volume, so they are risking that betting volumes will not be high enough so that commissions on bets to cover the costs.

On a per bet basis, it is correct to say that MP owners and app owners do not bear any risk on each individual bet, however it is far from accurate to say that they do not bear any risk at all.

Yeah, I was referring to per bet basis as you said it. Didn't take the other costs in consideration.

Nevertheless I'd still say investors' risk is way greater than it should be.

It depends how you look at it. Sites like crypto games and safe dice give 70% ish to investors

but

sites like BetKing are proposing to give just 30% to investors, same as MP

but

BetKing will also share in the losses
So, it's really uncharted territory here that we're in now

Also worth pointing out is that Crypto-Games takes commission AND faucets from the investment pool. So they aren't even covering all the marketing costs -- investors are.

There you go - and I think their faucet is much higher than MP's. Not to mention their rainbot...

Don't make false statements here. Crypto-Games.net Rainbot funds come from owners and donators, investors have nothing with it.

What concerns investments
We (owners) take 30% of the profit/losses! and 70% belongs to investors. Detailed explanation is in our FAQ.

Crypto-Games cant be compared at all to moneypot. There are no apps or something like that. It even seems to be the best deal for investors because the client seed is generated by Math.random. So the site can easiely cheat the users whenever it wants.

This is well known to the owners, because they used same for serverseed at the start, until someone tried to make bank with that knowledge.
So this isnt even provably fair at all, but a pretty good deal for investors.

Ofc this doesnt belong to this thread, but thought i should mention it (;

We don't use Math.random to generate client seed for few months now. We have removed it because some users complain about it. But am curios how could we abuse it without any clientseed hash... ? Would appreciate your expert explanation.

Nice to hear that it has been finally changed.

To explain it simple:

If a user makes a bet then the clientseed together with some other data like betsize etc are send to the server(your server) which basically gives u the clientseed of the bet. If the user did that a couple times you have a couple clientseeds.
Now you could use that clientseeds and easiely predict the upcoming ones.

Btw. why you play the stupid ? You did same mistake with the serverseeds some time ago until someone figured it out and made some money with. Or maybe im missinformed on that. Idk...

Yeah like that Math.random only generates "couple" of clientseeds. Thought you have something. Never mind.

We never used Math.random on serverseed. So yeah, you are missinformed on that.

jdacer95

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