The issue with Bitcoin and gambling is that pretty anyone with basic programming skills can launch a dice gambling site. And with enough time the site has a good chance of being profitable due to house edge or people's greed.
Hence its almost a sure thing running a dice site. However you need large capital to start. You can't rely that everyday people will gamble and lose and your bankroll will grow linearly over-time.
With variance and whales gambling at your site, they can clean out the house profits and withdraw and you will be left empty-handed.
Topic: ZoomDice.com - Provably Fair Dice & Social Roulette - (Wagering Contest Finished - page 12. (Read 9953 times)
August 02, 2017, 04:06:27 AM
August 02, 2017, 01:12:00 AM
maybe return people's deposit amounts first, and then pay their profits later, so they at least are more reassured that you will pay out, or will end up without losing anything if you don't pay. Or did you spend their money already?
yes i did that. i have returned the deposit amount of every winner except one.
August 01, 2017, 10:47:28 PM
I really like how your website UI look like. Good job, and even more awesome cause you just added dogecoin!
Keep it going like this folks
I like how you completely disregarded everything about the site and what's been happening recently regarding the owner and their lack of experience in the gambling and management field.Keep it going like this folks
Wait... you couldn't have simply not read and posted without having any care for what you're writing, right?
August 01, 2017, 10:43:00 PM
I really like how your website UI look like. Good job, and even more awesome cause you just added dogecoin!
Keep it going like this folks
Keep it going like this folks
August 01, 2017, 07:26:06 PM
75% profit? This is too good to be true here, people are not enough to get that 75% of profit mean while you only get 25% because when it comes to this conditions, mostly investor will suffer more than you do. This is not the way to manage the investment program here. But anyway you already want to sold your site, this is pretty hard to believe, your site is still new but just because on misunderstanding about the investment programs you sold everything
My Investmest proposal was like this,
For example assume our current bankroll is 8 BTC. You want to invest 2 BTC, Now bankroll is 10 BTC, So your investment 2 BTC covers 20% of Total Bankroll. So you will get 20% profit from our total profit. So, If after 7 days of your investment we made 10 BTC profit then you will get 2 BTC Profit - 25% House Commission = 1.5 BTC . So your balance become 2 + 1.5 = 3.5 BTC. Minimum Investment period is 7 days. Investment Cycle is also 7 days
I can't sustain my site without an investor. I don't have enough money. The amount i earn from my job & freelancing is around 900-1000$ per month. Which i have to spend for me and my family. I can't spare more then a 100$ from there. So, unless i find someone who is interested to invest i have no way but to close down the site.
No, currently I have no funds on my btc wallet. I will get my salary on 5th-6th of august then I will buy bitcoins and pay all withdrawals.
Those investor won't put money with high risky to your casino, thus you can to probably exit scam.
That's not how kelly works. Kelly is what you risk based on your bankroll. If you risk 1% of your bankroll at 1% house edge, that's a kelly of 1.
I can't sustain my site without an investor. I don't have enough money. The amount i earn from my job & freelancing is around 900-1000$ per month. Which i have to spend for me and my family. I can't spare more then a 100$ from there. So, unless i find someone who is interested to invest i have no way but to close down the site.
No, currently I have no funds on my btc wallet. I will get my salary on 5th-6th of august then I will buy bitcoins and pay all withdrawals.
No, currently I have no funds on my btc wallet. I will get my salary on 5th-6th of august then I will buy bitcoins and pay all withdrawals.
You have (or claim to have) a $500 bankroll - pay him from that amount. Surely you didn't expect to always win? Or maybe return people's deposit amounts first, and then pay their profits later, so they at least are more reassured that you will pay out, or will end up without losing anything if you don't pay. Or did you spend their money already?
August 01, 2017, 02:50:31 PM
After vising your thread after a few days I found that you are selling your dice site. I do not think that it will be your good idea because you have done nothing for your site and for its success so people will why buy an empty site. If you start to work for your site and make it established site then people will buy it from you.
I don't have enough funds to make it a successful website.
In the case of the big win, your service is totally insolvent and no better than standard scam casino.
It is a bit sad that you haven't thought of it before you started accepting bets from players.
Bro, I have mentioned many many times in this topic that i had an investor when i started this site who is not responding to my calls. And about the big win you mentioned the site is programmed to allow no more then 1% of bankroll as maximum profit per bet. So, no one can win all the bankroll in 1 win.
This is why I told you not to launch your site accepting real money if you have absolutely no bankroll.
This has happened many times in the past, a few small gambling sites launched with no capital or very little capital and a few days later due to variance some lucky gambler ended up cleaning out the entire site.
And then every other user had their deposit emptied out because the site no longer had funds.
You should of waited for investors FIRST, and then launched. Now you got red trust and it will be hard to recover from that.
August 01, 2017, 11:24:59 AM
Debate question with the site like this is where does the liability for previous clients lie? Sites like this are notorious for getting sued left and right, there's usually no basis at all for the lawsuits but they keep coming anyway based on the fact that people think they've been cheated when it reality all they did was lose their money.
August 01, 2017, 09:59:46 AM
The one who is not responding to your calls is not an investor because there is no invested money. You can say that you have investor only when there is someone investing his money on your wallet/escrow. You were just too confidence that he will invest his money, in fact he is ignoring you now.
yeah figured that.
August 01, 2017, 09:34:40 AM
After vising your thread after a few days I found that you are selling your dice site. I do not think that it will be your good idea because you have done nothing for your site and for its success so people will why buy an empty site. If you start to work for your site and make it established site then people will buy it from you.
I don't have enough funds to make it a successful website.
In the case of the big win, your service is totally insolvent and no better than standard scam casino.
It is a bit sad that you haven't thought of it before you started accepting bets from players.
Bro, I have mentioned many many times in this topic that i had an investor when i started this site who is not responding to my calls. And about the big win you mentioned the site is programmed to allow no more then 1% of bankroll as maximum profit per bet. So, no one can win all the bankroll in 1 win.
The one who is not responding to your calls is not an investor because there is no invested money. You can say that you have investor only when there is someone investing his money on your wallet/escrow. You were just too confidence that he will invest his money, in fact he is ignoring you now.
August 01, 2017, 08:06:02 AM
After vising your thread after a few days I found that you are selling your dice site. I do not think that it will be your good idea because you have done nothing for your site and for its success so people will why buy an empty site. If you start to work for your site and make it established site then people will buy it from you.
I don't have enough funds to make it a successful website.
In the case of the big win, your service is totally insolvent and no better than standard scam casino.
It is a bit sad that you haven't thought of it before you started accepting bets from players.
Bro, I have mentioned many many times in this topic that i had an investor when i started this site who is not responding to my calls. And about the big win you mentioned the site is programmed to allow no more then 1% of bankroll as maximum profit per bet. So, no one can win all the bankroll in 1 win.
August 01, 2017, 07:54:13 AM
After vising your thread after a few days I found that you are selling your dice site. I do not think that it will be your good idea because you have done nothing for your site and for its success so people will why buy an empty site. If you start to work for your site and make it established site then people will buy it from you.
I don't have enough funds to make it a successful website.
In the case of the big win, your service is totally insolvent and no better than standard scam casino.
It is a bit sad that you haven't thought of it before you started accepting bets from players.
August 01, 2017, 07:48:37 AM
After vising your thread after a few days I found that you are selling your dice site. I do not think that it will be your good idea because you have done nothing for your site and for its success so people will why buy an empty site. If you start to work for your site and make it established site then people will buy it from you.
I don't have enough funds to make it a successful website.
August 01, 2017, 07:47:58 AM
Good luck on the comeback part. Things will turn around just hard work and perseverance and a bit of luck. Make a faucet site first for advertisements then maybe you can save enough to start a new casino with bigger bankroll. Its not easy but pays off if you are patient.
August 01, 2017, 07:19:34 AM
After vising your thread after a few days I found that you are selling your dice site. I do not think that it will be your good idea because you have done nothing for your site and for its success so people will why buy an empty site. If you start to work for your site and make it established site then people will buy it from you.
August 01, 2017, 05:28:43 AM
If they said so, what can I said about it again? AFAIK, investors are not stupid so they will always question everything due to their balance on some new sites. But OP do not make it in public, so we never know how their bankroll and their investments really works. OP said that, he gives 75% profit, like I said before with thia conditions investors will lose more than OP. This should be done with 50/50 to make it more fair
I will make everything public. all bets wager, total profit, total bankroll etc. when i find an investor.
It is practically not possible to get the investors for a brand new site. First you have to arrange atleast a minimum bankroll (say one or two btc) and make the site running. After seeing the real time stats, gradually you may get some reputation Only after that, you may get investors to bankroll your project. Some times it may also take a year or so to get investors. But you should have the capacity to survive until then.. This is the ground reality...
August 01, 2017, 02:34:23 AM
If they said so, what can I said about it again? AFAIK, investors are not stupid so they will always question everything due to their balance on some new sites. But OP do not make it in public, so we never know how their bankroll and their investments really works. OP said that, he gives 75% profit, like I said before with thia conditions investors will lose more than OP. This should be done with 50/50 to make it more fair
I will make everything public. all bets wager, total profit, total bankroll etc. when i find an investor.
August 01, 2017, 01:59:21 AM
I will come back after i pay the withdrawals.
I will be back with games those don't require bankroll, like PVP games.
I will be back with games those don't require bankroll, like PVP games.
Hope it wont take longer just to give a little bit of payout here. And btw do you think that PvP games is really good enough? I do not think that people are really attracted to this kind of game. You can see many sites out there which already closed. May be the starting you will get many people play on your site but soon or later people will gone and go to casino to play or may be some dice site. No matter what you should continue your dice site, for bankroll problem may be you should try to open some investment. Many people will like to invest if it has good payout and have a good future
I've already offered 75% profit of based on their bankroll percentage.
75% profit? This is too good to be true here, people are not enough to get that 75% of profit mean while you only get 25% because when it comes to this conditions, mostly investor will suffer more than you do. This is not the way to manage the investment program here. But anyway you already want to sold your site, this is pretty hard to believe, your site is still new but just because on misunderstanding about the investment programs you sold everything
Do you think investors expect more than 75% of the profit?
If they said so, what can I said about it again? AFAIK, investors are not stupid so they will always question everything due to their balance on some new sites. But OP do not make it in public, so we never know how their bankroll and their investments really works. OP said that, he gives 75% profit, like I said before with thia conditions investors will lose more than OP. This should be done with 50/50 to make it more fair
July 31, 2017, 11:27:54 PM
I believe this is one of the newest dice site to launch and shut down too within one month time, the admin just added Dogecoin onto the site and the next announcement was to sell away the site in an auction, the proper way to launch a dice site is to get sufficient bankroll secure in your wallet first before making your site go live, I think OP should change the title of the thread to ( Site Closed ) to avoid confusion for new users on this forum.
I haven't closed the site permanently. I am still looking for an investor. Just deposits and withdrwals are suspended. There is also a notice about this on the website.
July 31, 2017, 11:12:09 PM
I believe this is one of the newest dice site to launch and shut down too within one month time, the admin just added Dogecoin onto the site and the next announcement was to sell away the site in an auction, the proper way to launch a dice site is to get sufficient bankroll secure in your wallet first before making your site go live, I think OP should change the title of the thread to ( Site Closed ) to avoid confusion for new users on this forum.
July 31, 2017, 09:09:22 PM
No, currently I have no funds on my btc wallet. I will get my salary on 5th-6th of august then I will buy bitcoins and pay all withdrawals.
This is your very big mistake, you have no funds on your btc wallet but you have forced yourself to announce your site , accepting deposit and let people gamble with it. Seems that you were hoping some people would lose their deposit so you can build your bankroll to pay other players who won.
You should learn from this experience, so you wont do the same mistake again in the future.
I had an investor ready when launched the site. But he is not responding to my calls. After that someone named Catosa promised to provide bankroll but later he end up offering buy-out which i refused. This is just bad luck nothing else.
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