Topic: 🔶 YOLOdice.com 🔶 suspended on 16st Mar 2021 - page 55. (Read 143533 times)

First of all guys, I hope you are all safe.

Now, I haven't tried the investment part of Yolodice before and I know it was stopped with a good reason from Ethan.
I am seeing some folks in the gambling discussion talking about it(investment in gambling sites)and I am really intrigued now. 

Here is the thread.
https://bitcointalksearch.org/topic/any-casino-with-good-investment-returns-5233669

Will it be back? Coz' it seems like there is not much trusted gambling sites out there which do this kind of service anymore.

They improve from day to day and are run promos regularly that is one more reason for increase in player base.

It is the reason why yolodice and other respective casinos are benefiting from this but I guess even without the pandemic, their users are increasing. On the other hand, we all want this pandemic to stop.

Globally, people spend more time at home. Around one-third of the world has stayed at their home due to lockdowns. They spend more time on the Internet and in spare time, they spend more time for online entertainments, that include gambling. The pandemic has bad impacts on global economy but there are companies and branches will take advantage of it to flourish. Online gambling industry and online platforms are part of it.

The pandemic triggers unofficial race among online casinos to release new games, and attract new users as well as try to maintain loyal users.

That's probably the effect of the pandemic which seems the volume of people online from different popular casinos has increased. Because of the lockdown in certain parts, it made everyone to have more time to spend at home.

Looks like we are seeing more bets with coronavirus lockdown I guess? Even chat seems more active than usual:)

Being able to reduce my counterparty risk by 50% is very significant. This isn't about making more money, but rather protecting myself against hacks/a potential exit scam. (not that I'm saying either would happen to YOLODice, but it's always a possibility)

Agreed 100%. I play at many sites and used to invest in all (now they all no longer do) and as much as I support the services I love and promote them to others, I will always tell people the same things,,, risk only what you can afford to lose when you have to trust a service with your coin. We all have seen far too many times sites just get hacked or exit scam after years of good work. I hope it never happens to any site where people have money inside.

But if you can even halve that exposure by doing x2, you should take it no question.

Being able to reduce my counterparty risk by 50% is very significant. This isn't about making more money, but rather protecting myself against hacks/a potential exit scam. (not that I'm saying either would happen to YOLODice, but it's always a possibility)

Honestly when you are offering 2x leverage, you might as well stick to 1x, it is still risky yet not making you THAT much money to worth it. If it was 100x I would kind of understand it though.

Whatever the opinions of everyone here it does seem we can all agree on one thing,,, even if you find leverage ability useful, the shortfalls and extra vulnerabilities to your own bankroll is far worse for you to consider it. I think the simplest is just to have no leverage in this case,,, and then to test something small like 2x down the line in a small sample group. Or offer it as a Level requirement?

I don't think leveraging bankroll is a good idea either, for investments such as this they should be purely 1x.

The thing about leverage part is, when it is closer to maximum bet the results are like this ; one big whale bets a big amount, ends up winning, leveraged investor loses all he has, has nothing left, whale eventually loses, but the leveraged person is all out so he can't take advantage of it.

So, as you can see when you invest regularly you take advantage of everything, you never go to full on zero and you still make a profit, however when you are leveraged there is really no way of making profit if the whale first wins and loses only afterwards. I know why they do it tho, they want to leverage it because they imagine if whale ends up losing first and winning later, they could actually make a decent profit, they could x10 their entry and that would be more than great, so they risk it.

Well said! There are benefits of both public and private ways. Going public (shares or bankroll) also means more transparency too, which is generally a good thing. Going private mean you have more freedom in managing the funds you have.

Anyway, the idea that has been sitting in my head for a while is:

1. All coins could be open for investments,

2. Commission would be based on wagered amounts (expected profit), not pure profit. This means if the commission was 40%, the commission would be 0.4 BTC from every 100 BTC wagered (with 1% house edge). There are a few benefits for the investors:
  - no "commission runs" - the commission would be taken in real time, which means your investments value is what you get when you close it
  - if players lose more than "expected 1% of wagered", it's investors' gain
  - yes, this would put a bit more risk on the investors in case there are big wins on the site with lots of wagering.
On the other hand, it protects the site (us) in a situation when players win a large portion of bankroll, and the site still needs to pay referral/rakeback bonuses. It would also help us get a steady income-to-expenses ratio.

3. There would be no "leverage" setting - almost all investments were at x10 leverage anyway, so I don't think there is much point in having that option IMHO. This would simplify things A LOT for us. We'd just set max bet profit to %1 of the bankroll.

4. For the time of competitions we'd pause all 3rd party investments for a given coin. That's because we'd still like to add 50% of the site profit to these competitions, and we couldn't do it with other investments active. Competitions happen every 2-4 weeks, we have 4 coins, so a given investment would be paused every 8-16 weeks for one week.

What do you say?

Cheers,
Ethan