Placing Bets With Bitcoin | Bitcointalksearch.org

HongKong

hero member

Activity: 812

Merit: 500

Quote from: deedan19 on December 02, 2017, 08:10:39 PM

Do you thing it is feasible to use Bitcoin to place bets compared to the system of using local currency or the USD. Some betting websites have been very flexible in using Bitcoin as the currency of placing Bets.

What I never liked is, if the actual stake was $5 (for example). And the winning amount was $43. The amount of Bitcoin worth will be paid instead of the calculated number of Satoshi. That is usually when the price of BTC drop.

Let's do some maths.
Odd=2.5
BTC stake 10,000 Satoshi
Returns: 25,000 Satoshi

Instead of 25000 Satoshi as returns, the player might get less than the winnings because the rewards will not be calculated based on the amount staked.

However, some people are convenient with the whole thing.

You would get more people interested in what you're doing if you were using Bitcoin. Gambling relies of two people in order for it to be profitable

traderethereum

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Vave.com - Crypto Casino

Quote from: arikassuja on December 03, 2017, 12:38:57 AM

Quote from: deedan19 on December 02, 2017, 08:10:39 PM

Do you thing it is feasible to use Bitcoin to place bets compared to the system of using local currency or the USD. Some betting websites have been very flexible in using Bitcoin as the currency of placing Bets.

What I never liked is, if the actual stake was $5 (for example). And the winning amount was $43. The amount of Bitcoin worth will be paid instead of the calculated number of Satoshi. That is usually when the price of BTC drop.

Let's do some maths.
Odd=2.5
BTC stake 10,000 Satoshi
Returns: 25,000 Satoshi

Instead of 25000 Satoshi as returns, the player might get less than the winnings because the rewards will not be calculated based on the amount staked.

However, some people are convenient with the whole thing.

but the risk of losing very high, I do not recommend you to play your bitcoin on gambling sites, you better invest in ICO that has the potential to go month, the results you get can be bigger and not too risky.

the risk is always there and if he continues, he just has a big chance of losing his money. this is why I don't want to use big money for just playing gambling and it is better to use their faucet to get free satoshi to use for playing gambling. in my opinion, maybe it is better to invest in one coin like bitcoin only or another altcoin and hold it for a long time. don't play gambling too often if you don't want to lose your money in short of time.

arikassuja

sr. member

Activity: 535

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Quote from: deedan19 on December 02, 2017, 08:10:39 PM

Do you thing it is feasible to use Bitcoin to place bets compared to the system of using local currency or the USD. Some betting websites have been very flexible in using Bitcoin as the currency of placing Bets.

What I never liked is, if the actual stake was $5 (for example). And the winning amount was $43. The amount of Bitcoin worth will be paid instead of the calculated number of Satoshi. That is usually when the price of BTC drop.

Let's do some maths.
Odd=2.5
BTC stake 10,000 Satoshi
Returns: 25,000 Satoshi

Instead of 25000 Satoshi as returns, the player might get less than the winnings because the rewards will not be calculated based on the amount staked.

However, some people are convenient with the whole thing.

but the risk of losing very high, I do not recommend you to play your bitcoin on gambling sites, you better invest in ICO that has the potential to go month, the results you get can be bigger and not too risky.

junoreactor

full member

Activity: 196

Merit: 109

Quote from: deedan19 on December 02, 2017, 08:10:39 PM

Do you thing it is feasible to use Bitcoin to place bets compared to the system of using local currency or the USD. Some betting websites have been very flexible in using Bitcoin as the currency of placing Bets.

What I never liked is, if the actual stake was $5 (for example). And the winning amount was $43. The amount of Bitcoin worth will be paid instead of the calculated number of Satoshi. That is usually when the price of BTC drop.

Let's do some maths.
Odd=2.5
BTC stake 10,000 Satoshi
Returns: 25,000 Satoshi

Instead of 25000 Satoshi as returns, the player might get less than the winnings because the rewards will not be calculated based on the amount staked.

However, some people are convenient with the whole thing.

Ask these guys: nitrogensports
I know you can bet in Bitcoins there. To be honest I am not sure I understood your question, but if you win betting with Bitcoins and getting paid in Bitcoins, yes it is possible. Contact nitrogensports - their support center is very quick to reply.

player514

legendary

Activity: 1414

Merit: 1039

Quote from: deedan19 on December 02, 2017, 08:10:39 PM

Do you thing it is feasible to use Bitcoin to place bets compared to the system of using local currency or the USD. Some betting websites have been very flexible in using Bitcoin as the currency of placing Bets.

What I never liked is, if the actual stake was $5 (for example). And the winning amount was $43. The amount of Bitcoin worth will be paid instead of the calculated number of Satoshi. That is usually when the price of BTC drop.

Let's do some maths.
Odd=2.5
BTC stake 10,000 Satoshi
Returns: 25,000 Satoshi

Instead of 25000 Satoshi as returns, the player might get less than the winnings because the rewards will not be calculated based on the amount staked.

However, some people are convenient with the whole thing.

Could you clarify a little on this idea? What I think you're saying is that you want to consider the possibility of a betting/gambling site that allows for the users to bet on the price of bitcoin at a certain time in the future? I believe there is actually a site already with this idea. I don't remember what site it is right off the top of my head, but hopefully someone else can chime in as well.

deedan19

newbie

Activity: 42

Merit: 0

Do you thing it is feasible to use Bitcoin to place bets compared to the system of using local currency or the USD. Some betting websites have been very flexible in using Bitcoin as the currency of placing Bets.

What I never liked is, if the actual stake was $5 (for example). And the winning amount was $43. The amount of Bitcoin worth will be paid instead of the calculated number of Satoshi. That is usually when the price of BTC drop.

Let's do some maths.
Odd=2.5
BTC stake 10,000 Satoshi
Returns: 25,000 Satoshi

Instead of 25000 Satoshi as returns, the player might get less than the winnings because the rewards will not be calculated based on the amount staked.

However, some people are convenient with the whole thing.

Topic: Placing Bets With Bitcoin (Read 306 times)