Bitcoin Forum

This prospectus describes CasinoBitco.in’s initial public offering of 3,000,000 shares @ 0.00018 BTC through Havelock Investments, representing 10% of the company.
 
Company Name: CasinoBitco.in
Company URL: http://www.casinobitco.in
Ticker Symbol: CBTC
IPO date:  September 10, 2013.  12:00 EDT.
Sector: Gaming
Investment objective: Growth and dividend
Public Documents:
https://drive.google.com/folderview?id=0B2SWZWkGJ1V3UEo0Q0lESk5nd0k&usp=sharing
Operations:
Summary
CasinoBitco.in is on a mission to become the world’s premier destination for bitcoin gamblers to not only wager on sports, but also bet on games of chance like Blackjack, Roulette and Baccarat. Because CasinoBitco.in is the only bitcoin-only gaming site that offers both sports wagering and provably-fair non-proprietary casino games, it has a distinct advantage over its competitors as it can cater towards both the sportsbetting and casino game demographic. Long-term, CasinoBitco.in seeks to leverage the powerful nature of bitcoin as the perfect medium for fast, safe, and fun gaming in gaining mainstream acceptance with the gaming community for years to come.
 
With servers hosted in the Republic of Ireland and Hong Kong, CasinoBitco.in launched in June 2013, and has increased daily traffic 84.6% month-over-month (see appendix A).  The overhead is minimal, as software is developed internally with little need for outsourced contract based labor. Marketing and Customer Support is also handled internally by a small team of early investors. No one at CasinoBitco.in currently earns a salary.







Details
●   CasinoBitco.in internally develops all code and technology and pays no licensing fees.
○   Developed in HTML5 - No flash!
○   Both pay (bitcoin only) and free game play options
○   Secure traffic is passed through SSL
○   All user passwords are stored with bcrypt encryption.
○   Offsite cold storage wallet is utilized for the majority of funds
○   Affiliate program (Upcoming)
○   Multiple language support (Upcoming)
●   Sports offerings:
○   MLB http://casinobitco.in/bet-sports-mlb
○   NFL http://casinobitco.in/bet-sports-football
○   NCAA Football http://casinobitco.in/bet-ncaa-football
○   England (EPL): http://casinobitco.in/bet-soccer-english
○   Germany (Bundesliga): http://casinobitco.in/bet-soccer-german
○   Italy  (Serie A TIM): http://www.casinobitco.in/bet-soccer-italian
○   France (Lique 1): http://www.casinobitco.in/bet-soccer-french
○   Spain (Liga BBVA): http://www.casinobitco.in/bet-soccer-spanish
○   Dutch / Holland (Eredivisie): http://www.casinobitco.in/bet-soccer-holland
○   Additional Sports (Upcoming)
○   Futures (Upcoming)
○   Betting include If-Bets, Parlays, Teasers (Upcoming)
○   Additional bet types including first half/5-inning, quarters, etc. (Upcoming)
●   Provably-Fair Games of Chance offerings:
○   Baccarat
○   Blackjack
○   Roulette (Upcoming)
○   Slots (Upcoming)
○   Craps (Upcoming)
○   & more in development
●   League/Pool/PvP offerings:
○   Paid and Free NFL suicide/survivor leagues
○   more in development






Growth Prospects

Already a profitable venture, CasinoBitco.in is well-positioned to take advantage of the growth in the bitcoin gaming market.
 
CasinoBitco.in’s current rate of earnings growth trends evenly with our traffic, at approximately 84% growth month-over-month. There is a void in the bitcoin market for a service with a high variety of gaming options - especially one as unique as CasinoBitco.in.
 
CasinoBitco.in is experiencing significant weekly growth in terms of traffic and revenue (see Appendix statistics).  With increased maximum bets, the upcoming football season, an increased marketing effort and additional offerings, CasinoBitco.in is set to receive an influx of new players and increased action from existing players. Near-terms goals include heavy focus on development and marketing of new features, resulting in further diversification into international betting markets.  

In order to both fund future growth and reward unit holders, CasinoBitco.in will aim to re-invest 25% of profits into the business while 75% will be paid out as dividends to unit holders (see Dividend Policy section).
Management
 
Tim
Founder and co-owner
Development
Bio: Tim created CasinoBitco.in as the vehicle for his enduring vision to combine the elements of the best online bitcoin casinos and sportsbooks in a one-stop-shop, while continuously adding unique Peer-2-Peer leagues, pools, and contests to build a strong community and keep players engaged. He brings over a decade of senior development management experience from a Fortune 50 company, and is directly responsible for CasinoBitco.in code, design, and security.
Contact: tim@casinobitco.in
 
Brendan
Co-owner
Operations and Marketing
Bio: As a long-time sports bettor and card player, Brendan has an innate passion for the gaming business. He seeks to leverage this background to help build CasinoBitco.in around what players want from their gaming destination of choice. Brendan's responsibilities include marketing/affiliates, financial oversight, and public/investor relations.
Contact: brendan@casinobitco.in
 
Havelock has verified identities of the fund managers named above. In addition to these owners, there are additional private investors with percentage holdings in CasinoBitco.in.

Communication

Inquiries can be sent to: support@casinobitco.in, or chat via Skype at casinobitco.in.
Bitcointalk.org Management profile:  https://bitcointalk.org/index.php?action=profile;u=37924
Bitcointalk.org Marketing profile: https://bitcointalk.org/index.php?action=profile;u=141101
Bitcointalk.org general discussion thread: https://bitcointalk.org/index.php?topic=228243.0
 
Why We Are Going Public?

CasinoBitco.in is listing to raise awareness of our product, fund expanded marketing initiatives and increase our house bankroll.  This increased bankroll will enable Casinobitco.in to quickly and safely raise our maximum bet sizes.  Offering higher limits will enable CasinoBitco.in to serve players with all bankroll levels, thereby becoming more competitive with other operators in the gaming space.

Financial information
  
Public updated financial and projections document:
https://docs.google.com/spreadsheet/ccc?key=0AmSWZWkGJ1V3dDl0STVudkZBUm1fRTlXMUFzZ3dkUXc&usp=sharing
 
Company Policies
Voting rights
Units issued via IPO do not represent equity ownership in any real-world business entity. The units are solely a distribution mechanism for rights to profits.
Dividend policy
All units of CasinoBitco.in, public and private, will equally share in a monthly dividend. Each unit on the exchange represents 1/30,000,000th of dividends, to be paid monthly. Each unit holder is entitled to receive the dividend, even those not listed on Havelock Investments.
 
Unless otherwise noted, 75% of profits will be targeted to be paid as dividends. Any changes in the target will be clearly communicated by CasinoBitco.in management.
 
A detailed Cash Flow Statement, Profit & Loss Statement and Balance Sheet will be posted quarterly, at minimum.



Use of proceeds
 
Proceeds raised in the IPO will be used approximately as follows:
-15% converted to USD to supplement legal retainer and contractor expenses for ongoing software development.
-5% for marketing of CasinoBitco.in, including player promotions, PR, advertising, and other uses.
-80% will be added to bankroll to allow for increased maximum bets.
Structure of the offering:
 
CasinoBitco.in will list exclusively on Havelock Investments, releasing 3,000,000 units at 0.00018 BTC per unit, representing 10% of the company.
 
•       Type: Fund
•       Units Offered: 3,000,000
•       Units Privately Held: 27,000,000
•       Total Units: 30,000,000
•       Initial offering price: 0.00018 BTC
•       Total BTC to be raised: 540 BTC
•      Valuation: 5400 BTC
•       Maximum units per user for initial offering: 500,000
•       Date: September 10, 2013 at noon EDT

Any unsold units after the IPO ended date (September 13, 2013) will be placed on the open market at the IPO price.
Future Releases

Within 90 days of the successful completion of this IPO, Casinobitco.in may release an additional (5%) of existing units with an offering price to be determined by the 30-day weighted average price of CBTC.  There will be an update one week ahead of time if it will not take place.
 
In addition to the 15% of total units set aside for the IPO, an additional 15% (4,500,000 units from total units of 30,000,000), purchased by pre-IPO investors, will be available to be sold on Havelock on the following schedule:

a.   September 16, 2013: 1,125,000 units
b.   December 17, 2013: 750,000 units
c.   March 17, 2014: 2,625,000 units

The remaining 70% of units (21,000,000) are considered Founder’s Shares, and are not intended to be sold. After 6 months, 30% of CasinoBitco.in units (9,000,000 units) will effectively have been released and floating on the open market.  
Buyback, Sale or Termination of Operations policy
 
CasinoBitco.in reserves the right to buyback outstanding units of CBTC on Havelock Investments with a 30 day notice, with the price being determined by the higher of the 30-day weighted average price or the current market asking price of CBTC at the time of the official announcement of the buyback.

If CasinoBitco.in is sold or acquired by any party, unit holders will be compensated based on the selling price on a per unit basis. Documentation must be provided if the sale results in a lower valuation than what is currently calculable on Havelock Investments based on the 30-day weighted average price of BCTC at the time of the official announcement of the sale.
 
In the advent of a forced termination of operations due to legal considerations, the bitcoin assets of the company are to be immediately dispersed to the unit holders on a per unit basis. The remaining assets of the company are to be liquidated and dispersed to the unit holders on a per unit basis. Trading of CBTC will be halted at the time of the official announcement of a forced termination of operations.
 
Risks Factors
 
Risk & Variance: Bitcoin betting involves risk of drawdown. As preventative measure, CasinoBitco.in will temporarily reduce betting limits in the event of any noticeable loss of house bankroll due to variance.
 
Security: The vast majority of funds are always offline in cold storage. Custom algorithmic protections exist to flag and prevent unusual activity or withdrawals.
 
Competition: Others with some similar offerings exist in the bitcoin space. Unless CasinoBitco.in differentiates itself, it will not draw and keep customers from these other establishments.
 
Outside factors: CasinoBitco.in is watchful to the legal climate of bitcoin, and seeks to act lawfully for its players and within its jurisdictions at all times. Should the market for bitcoin gaming change, certain demographics of CasinoBitco.in’s business may be affected.

Price Movement: In general, CasinoBitco.in activities are not reliant on price of BTC, as the average player converts Fiat holding to use BTC with our site. This means earnings/dividends denominated in BTC are likely to increase if the value of BTC drops, and vice versa if value of BTC increases. Management will diversify assets between BTC and Fiat per their discretion.
 



Havelock disclaimer
 
Havelock Investments has reviewed this offering in accordance with their listing procedures to the best of their ability.  Havelock Investments offers no guarantees to the performance of this offering or its management team.  It is up to each individual to perform their own due diligence in regards to this company and its operations.
 

Appendix A: Statistics
YTD Figures as of 8/31/13:
Total Registrations: Over 475
Total Deposits: Over 210 bitcoin
Ratio of Casino to Sportsbook earnings: 2.44
YTD Earnings: 66.81 BTC
Traffic increase June-July: 84%

EDIT: Future release section updated 9/6/2013 10:19 am ESD.
Release schedule updated, below is original schedule:

a.   September 16, 2013: 1,125,000 units
b.   December 17, 2013: 375,000 units
c.   March 17, 2014: 3,000,000 units

Interesting!

Hey Everyone - Myself, and casinobitcoin, will be here to answer any and all questions regarding our exciting IPO!

Havelock has been very engaged and great to work with through this process - and looking out for the benefit & well-being of his users through due diligence, research, and focus on transparency.

We're excited to continue to be a part of Havelock Investments, and to work hard for the interests of our shareholders & grow CasinoBitco.in!

Goodluck guys but very overpriced valuation imo.

I read through the prospectus but there's a couple things not clear:

1) How much did your Pre-IPO investors pay per share?
2) What are you bringing to the table that is worth 70% of the shares total? What is the investment amount so far, etc.?

Great question - Let me know if I can elaborate further:

1 & 2 - This can be approximated by viewing our current assets ($9,840.00 & 677.3100 btc minus player balance ~52 btc) divided by 15% of shares sold pre-IPO, and what founders contributed as well, which is significant. The IPO price is based on the same model we've used for all pre-IPO investors, increasing over time in part based on growing weekly earnings. As we've had significant private offers for funding, our Havelock IPO is not so much about money, but outreach to smaller investors and increasing our profile.

In addition to a significant amount of assets already (book value), we are bringing years of development, management, marketing etc. experience to the table, resulting in continued growth & success of CasinoBitco.in. As almost all development & effort is handled internally without a salary, we're putting in a lot of hard work in, and will continue to do so.

Watching!

Are you, or are you planning to be a registered company? In which jurisdiction?
Where do you live? Is it legal to operate gambling site in your country?

The company is registered as a legal entity in Panama.

All servers run offshore in Ireland and Hong Kong.

So how does $10k (let's estimate each BTC as being $100 and just say it's 100 BTC) + 625 BTC somehow end up being worth 4860 BTC? Based on my mathematics that's only 725 BTC (and that is a LOW estimate), far from being even close to your valuation.

Where's the other 4155 BTC coming from?

Sure - and great question -

The amount you calculated is "book value". So, our IPO can be calculated at very roughly:

725 + 540 raised in IPO (if successful) divided by 5400 valuation = a 4.27 x Price/Book value. Assets, unless distressed, are typically priced well over book value based on future growth/return prospects (example, Tableau Software, a recent NYSE IPO, is showing a 21.09 ratio on Yahoo Finance)

uvwvj, Exactly, I think that's the payback period "pitched" for many franchises out there.

Just as a warning, I think this same guy (ranlo) asked the same question of Crypto Currency and had a very difficult time understanding that more than just book value goes into the calculation of a valuation. So he may come back in here asking more questions about it.

Looks pretty cool but no NHL?
- a Canadian

Then where are the profit/loss statements? I saw nothing to tell that. The closest thing I could find was deposits/withdrawals but that doesn't mean anything.

Is anyone familiar with US law related to gambling/betting? I thought that the location of the servers is irrelevant if you live in USA (you do) and/or serving US customers.
What is the worst case scenario here - could US police (or regulator or whoever) confiscate the BTC? What is your plan for such legal complications?

No worries, we're more than happy to explain our IPO process and be transparent! If anyone prefers to PM me to discuss, that's welcome too.

On NHL / Starcraft - It's all coming! We have the feeds etc. ready to cache - just a bit of work for each "league" to add it in.

Maybe I'll start a poll so we know what order to prioritize  ;)


*edit* - I've just been corrected - We have NHL - just no games!

Ranlo:

P&L - https://docs.google.com/spreadsheet/ccc?key=0AmSWZWkGJ1V3dDl0STVudkZBUm1fRTlXMUFzZ3dkUXc&usp=sharing

Still a work in progress so suggestions welcome.

Based on what I can tell, then, you have:

41.15 BTC
28.59 BTC

That's your profit over 2 months (after every expense is paid)?

So let's round that up to 35 BTC a month.

If this is correct, that lands ~10 year ROI (based on profit at current levels), which is a little high but based on what I've seen I think this can be shortened considerably over time. Your valuation *does* go hand-in-hand with your revenue, so that's perfect. Just have to decide how much risk is too much here...

@xchrisxsays - seriously? The company I put down was going for over 800k in valuation on a company that 1) hadn't even been created yet and 2) had absolutely no income. How can someone possibly value an idea at nearly a million dollars? If you really believe in that crap, I've got tons of ideas I can sell you and I'll let them go for a fraction of that (250k each). Making stupid investments is how you lose all your money.

I have to say that even though you prob consider this sort of a 'ironic post' I personally think that E-game betting is something that is 100% a great idea. Maybe Starcraft and League of Legends.

Valuing seed finance based on current profits is almost useless in my opinion. If you want 'crazy valuation' take a look at the Justdice.com IPO  :o

Ranlo - I think we're on the same page! Lot's of factors to consider.

Simply put, our goal is to be far and away #1 in non-dice bitcoin gaming - and we appear to be on the growth trajectory to reach that. By my estimates, we have roughly close to  a 5% chunk of that market now, and growing.

Our shareholder's support & input will be a huge part of us getting there.

I agree. HUGE SC2 and Broodwar fan here.

Honestly, the vast majority of IPO's in the crypto scene are directly marketed towards people who don't know any better and assume everything is going to make a profit. I won't go into too many details but I know for a fact a few have overpriced knowing they were overpricing, solely because they knew people were stupid enough to buy into it anyways. One has even agreed with me that most people here have no business investing, but as long as they are you can get rich off them, XD.

As an ex-SC player, I'm in. What other e-sports are big?

Yeah, I definitely get where you're coming from. The downside is that the market can have massive swings up or down at any point. It's more of a long-term investment than anything. On the other hand, people always gamble, and ironically as the economy gets worse people gamble more and more.

So are the shares based on their part of the total profit each month, or is there part being taken out of that each month? Best breakdown would be like this if possible:

Let's say there is one share someone owns and their fragment of the profit was 1 BTC. Would their dividend be the entire BTC, or how would it break down?

I played a lot of online poker when it was still legal in the U.S. and even though the servers were in Ireland or some such place for Full Tilt Poker, they still got the government killswitch for U.S.-based participants. I think this will be a genuine concern in the future

Great question, and totally expected. We have retained legal counsil on this exact question early on in the process.

The absolute worst-case scenario (as mentioned in the Prospectus) is that we could be served by the US DOJ with a cease and deist notification. We have 2 legal recourses if that scenario were to occur:
1) Disable traffic for US Customers
2) Fight the order

While we view this scenario as a very unlikely scenario giving the US Government stance on Bitcoin, option #2 is absolutely costly, but not out of question if the timing is right. If we went with Option 1 - it would cut off roughly 69% of our current traffic to the site as of today (we are however, planning on large-scale marketing campaigns for non-US customers after this IPO).

All that said, NO - the US government (nor police) could not confiscate our Bitcoins as we are not under US jurisdiction.  

I hope that helps clarify the risk, as well as our stance.

Ranlo - I agree - this is one reason we intend to focus on competitive advantages and serve our own "niche", whenever possible. We're targeting roughly 75% dividend / 25% reinvestment to start - this will be well defined with each dividend for share holders.

Is there any "management fee?" And you will be proactively marketing with part of the 25%, correct?

No management fee - and, that figure is after all expenses - that roughly 25% would be added to the general reserves or "cash" as retained earnings, and would belong shared to all shareholders.

Uv,

For the foreseable future, we don't plan on taking any salary/compensation, just working for the equity we own!

Thanks for the answers, CBC! That covers everything I can think of right now, and everything looks good. Definitely going to put some thought into jumping in on this, :).

You got it, Ranlo!

No saying how fast - but if it's anything like DealCo.in this week - shares could go quick! I'll have my coins ready (myself and others involved will be adding to our equity on IPO - will be nice to have "liquid" shares)

that will be an interesting IPO Phase!!

Finally its on. Cheers!

Absolutely! We're very excited as well - can't stress how great it's been working with the team over at Havelock, A+.

Why is it listed in the spec as being priced at 0.00018 but on offer on 0.0002 on havelock ?

We reached out to Havelock yesterday to get this corrected, it should be 0.00018.

It only appears as 0.0002 because of a how our system currently displays unit prices (4 decimal places). So 0.00018 is rounded up to 0.0002 for displaying purposes.  The price is really 0.00018 in our system.  FYI The order book displays down to 8 decimal places.  We'll look at expanding the IPO display to 8 decimal places to avoid confusion in the future.  Thanks for pointing it out.

Just a quick couple of questions from my end:

How long has this site been operational?
I noticed the detailed statements go from July-August, but other Google docs files note starting back in May or so.

What is the purpose of valuing the company at BTC5,400? Was this value intentional?
Most of the time, people usually randomly generate how many shares their company will have (i.e. 1,000,000 units, 5,000,000, etc) and then throw in a per unit initial value they thought was good enough (i.e. BTC0.001, 0.5, 0.00001, etc). Then, as if magic, they're suddenly valuing their ideas at thousands of BTC.

How will any raised funds be spent? Say hundreds of random people jump on board and give you the $60,000 in BTC you're looking for. Then what?


These are just a few 'feeler' questions, and I've got a few more depending on how the above are answered. Overall, I like casino investments...when built properly (and secured properly as well) the house always wins, and that's good for investors :)

Hi, we show 8 decimal places in the open orders page for all the existing funds (ex:  https://www.havelockinvestments.com/order.php?symbol=HIM).  CBTC doesn't have an order page active yet.  Did you have a link to the page in questions and we can take a look?

Hey Korbman! Thanks for your interest.

Yes, in conjunction with Havelock, we valued ourselves intentionally - We used the same price formula used for pre-IPO investors for our IPO valuation, which we've had a ton of interest interest for. Factors taken into account include our btc/cash on hand, intellectual property, weekly earnings growth, expected earnings considering future development, overall bitcoin gaming market share, etc. We did a lot of market research to make sure there was plenty of room for us to grow. What's nice - after IPO, the market can take over valuation for us.

Based on Alexa traffic, we're one of the fastest growing for both bitcoin sportsbook/ casino over the past month or so, and we hope this move will boost growth further. We really have two ways to grow - within the current bitcoin gaming space, of which we have roughly ~5%, and with the growth of the bitcoin gaming space as a whole - which appears to be roughly doubling every year, and is still well under 0.1% of the gaming market as a whole.

Funds are primarily being raised to increase our risk threshold, and therefore max bets limits.

Ok thanks, we'll add this along with the IPO page to use 8 decimals.

Solid earnings for week ending 9/5 posted. IPO seems to be driving a lot of traffic!

https://docs.google.com/spreadsheet/ccc?key=0AmSWZWkGJ1V3dFpxZHVTN0x6ZldUeHRteWdBd1pMNXc#gid=12

very interested in this IPO, the casino is very professional looking and entrancing to use (even for someone who hates gamble)
So I have question about the IPO for Havelock as I think the IPO will be gone in about an hour.
it says 2013-09-10 12:00:00 , i live in sydney australia so i am wondering what region this is,AND even better i would love it if i could set a automatic buy order!
 :)

good,Interesting!

Hi, the time zone is ESD. The current time is indicated in the top right as well.
Auto buy orders/IPO subscription is something we're looking at but we're going with 'first come, first serve' for now.  Thanks for the feedback.

Awesome, thanks for the response. Going back to my original question:
How long has this site been operational?
I noticed the detailed statements go from July-August, but other Google docs files note starting back in May or so.

Next small round of questions:
Who is your primary competition? What do you offer that they don't?

As traffic to your site increases, why launch an offering at all?
If a gambling website is fun, profitable, and offers gaming variety, it'll grow on its own over time. When that happens, you'll have earned enough money to increase the maximum bets on your own instead of using raised funds to subsidize this part.

Site has been announced to the public since June 7th. Any startup expenses pre-July have been accounted for in our July starting balance and will not affect investors/dividends, which will be based on operating income going forward.

Our competition can be viewed on the attached Alexa traffic trends graph (Top - Casino, Bottom - Sports): http://imgur.com/xq7rUMC
As you can see here, we're growing fast (dark blue line on both)! We believe this is in large part due to our competitive advantages, and intend to push those further - whether it be unique leagues, bet types, games - or our focus on P2P offerings, which are FUN, competitive, and create loyalty (NFL Suicide leagues are the current example.... NFL Squares should be next). Of course, we'll still compete directly as well as building our own "niche" this way.

We could certainly stay private, and have had offers for additional funding. However, we feel our IPVO will raise our profile, additionally motivate us to benefit our shareholders, and also pay dividends in the form of investor ideas/input, word-of-mouth advertising, etc.

From personal experience I have quite a few friends who watch those tournaments this is a good idea +1
Catching up was away for a while, I do believe that the gambling space has potential to diversify itself and this is one of the ways to do so best of luck.

Just fyi guys as a major sports bettor I can give insight on the sportsbook market, Bitbook.biz and NitrogenSports offer -106 reduced juice odds on almost all sports. Reduced juice is one of the biggest things sports bettor use for deciding where to bet. For Casinobitco.in to ever have the chance to be the top book or top 2 books they will need to at least match this. Right now in my opinion Bitbook is the biggest book and no one seems to be even close to them. -106 means on a 50/50 bet, the bettor risks $106 to win $100 in profit. Casinobitco.in's current lines are -110. Meaning $110 to win $100. This is a difference of about 2% house edge from book to book.

Casinobitco.in also is very behind as they are not providing teasers, parlays or any special type of bet. There also is no live betting. Bitbook.biz offers live betting on EVERY baseball game and offers parlays. Nitrogen offers parlays and Bitcoinsports.eu offers teasers.

Also, casinobitco.in feel free to PM the info you said you would be happy to send me. I have PMed you my email address. However to me your valuation should be at highest a 1000 BTC valuation to me so do not know if it would be beneificial for you to send me the info. Bitbook is the main horse in the sportsbook biz right now, followed by Nitrogen.

Hey KOS,
If there is no changing your mind, I may not spend time sending anything for now, we can agree to disagree. No hard feelings.

However, we 100% agree on reduced juice & more betting options - Those are all in the works - including 1st 5 innings bets for baseball - due by tonight/tomorrow.

Right now, our #1 priority is developing our affiliate backend.

Literally on deck this week is More sports options, including MLB 1st 5 Innings, then Parlays.

We are also very close to launching our affiliate program which we will beta for our most loyal users who are interested, uvwvj  - you are on that list, of course.

I will be picking up some shares in this IPO for sure. Diversification is always good and I consider casinobitco.in one of few betting/casino sites with a very bright future.

Bitcoin sportsbook is definitely a profitable business in the foreseeable future, I may put Casinobitco.in in my investment portfolio

One of the sexy aspects of casino/betting is that the double income source allows casinobitco.in to ride the popularity of both types of games. Its also client-less which means its device independent. I expect great things.

The biggest as far as viewership and a clear path to betting (tournament coverage and reliable score keeping records etc.) are probe DOTA, SC2 and League of Legends.

Sure thing! We've had more than one request.

The question below is posted by ScatterShot in the Newbies section.

https://bitcointalk.org/index.php?topic=290858.msg3111845#msg3111845

I have reposted it here as requested, and as a potential large investor I too would appreciate a response.

Thank you.


ScatterShot's Question:
--------------------------------------------------------------------------------------------------------------------------
In regards to this thread: https://bitcointalk.org/index.php?topic=288518.msg3090397#msg3090397

I believe casinobitcoin is right when they repeatedly characterize this investment as "high risk / high reward", except for this passage in the prospectus:

"CasinoBitco.in reserves the right to buyback outstanding units of CBTC on Havelock Investments with a 30 day notice, with the price being determined by the higher of the 30-day weighted average price or the current market asking price of CBTC at the time of the official announcement of the buyback."

Yes, the company is young, small, behind the curve and undercapitalized, and there are many other problems including the ones KingOfSports alluded to (all of this is the "high risk" stuff). Now, *if* the company gets to the point where they start to take significant market share and "break out" commercially with rapid growth on strong fundamentals (the "high reward" part that investors would hope for), this clause would allow the company to unilaterally cash out the IPO investors at the instant valuation, which might cut them off from the lion's share of the upside over the following months/years.

I don't have a problem with this clause in and of itself, especially since the issuer has been above board with its inclusion in the prospectus. But there's really no way that any "sophisticated investor" (as defined by the SEC) being approached through a brokered or unbrokered private placement would touch this without having the clause severed from the prospectus, or reducing the implied P/E multiple by at least an order of magnitude, making the PPS about BTC 0.000018/share.

With this clause, IPO investors will still bear the full advertised high risk, but might not reap the associated high reward.

I'd appreciate it if someone who isn't a "newbie" could repost this to the thread mentioned above. Thanks.

---------------------------------------------------------------------------------------------------------------------------

how to buy?

IMHO,
This is a very standard clause in place to be able to facilitate a possible late stage exit. Personally I think using weighted 30 day is far more fair then some buy backs I have seen that simply forces buyback at spot or worse.

This should be obvious based on how many people argue that PMB's (some of which are already IMPOSSIBLE to earn a full ROI on) are a good investment. You can sit there throwing math at them all day and their response is always along the lines of "I get paid daily or weekly and I can sell at any time, so it's profitable." It's a little depressing, really, and some of the IPO's are taking advantage of that. One of them was going for at least 5x its true valuation and promised (through a private offer) that I'd make a profit investing because people are going to be dumb enough to overvalue it as well and I could make a quick exit for at least 2x the investment amount as soon as the IPO hit. I didn't take them up on that offer, but there's been others run the same way as well. People are taking advantage of those stupid enough to invest in something when they have no business investing in the first place. Sure, some of them might turn a profit, but this isn't really investing, it's flat out gambling. I can go to a casino and figure out whether I'll win or lose a lot faster than dealing with IPO's here.

With that said, I think CBTC has a decent chance of survival. I'm also against their clause where they can buy back at the current price (meaning if they hit the big news, they could do a buyback right after they find out, taking all the increased profit and earnings). It'd also be possible to manipulate pricing so that stock price drops before something major happens -> they buy back -> they get even more benefits. The situation all caters towards Casinobitco.in, and that's a bit of a worry. When looking for investors, our security matters as well.

And they are going to be releasing the data from the 5th up through today as well, so we can see what the past 3-4 days have been like prior to the IPO, for any wondering!

You can buy through Havelock Investments on Tuesday at noon (ESD).  You would need to create and fund (with BTC) your account first.

Here's the IPO page when you can purchase CasinoBitco.in when the IPO starts at the above time. 
https://www.havelockinvestments.com/fund.php?symbol=CBTC#ui-tabs-3

If you miss out on the IPO, the open market will being trading after the IPO sells out.  Here is the link for the open market:
https://www.havelockinvestments.com/order.php?symbol=CBTC

Hey all!
IPO is one day away!

For the sell clause: It was very important for us to word this in a way to build confidence, benefit, & protect investors. This is why we opted to add the higher of the 30-day weighted average price, or asking price - or asset sale price. So, investors will walk home with the best possible outcome in this situation.

The #1 concern was to protect investors in this clause - We'd want them to benefit the same as management in these scenarios. We don't intend to de-list unless it is somehow necessary, and investors should fully benefit from any risk/reward, as any upside potential should be reflected in the bid price as part of an efficient market, which would have ideally appreciated significantly for any IPVO investors. If not, it's our responsibility to compensate investors fairly. Unfortunately, such a clause is probably necessary to any bitcoin-based asset listing - It's included for transparency, and we seek to place our investor's interests first any any such situation.

Ultimately, is there some level of risk people need to account for there? Yes. I think this illustrates the value of earning the trust of our investors, which is very important to us.  

Due to lots of requests, a 3-day mid-week update has been posted on the projections page:

https://docs.google.com/a/statdude.com/spreadsheet/ccc?key=0AmSWZWkGJ1V3dFpxZHVTN0x6ZldUeHRteWdBd1pMNXc#gid=12 (https://docs.google.com/a/statdude.com/spreadsheet/ccc?key=0AmSWZWkGJ1V3dFpxZHVTN0x6ZldUeHRteWdBd1pMNXc#gid=12)

Weekend #'s:
35 new registrations
54.98 deposits minus 40.34 withdrawls (BC)
8.03 in earnings

Excellent traffic and handle - Havelock definitely seemed to draw a few new players!

I‘m very excited. Waiting for the IPO. :D

Did TheSwede75 make a advertisement for your site on just-dice?

That's correct. TheSwede75 is involved with some of our marketing efforts, etc.

We got a great deal this week ;)

Yup, I enjoy supporting Bitcoin Start-ups that I think have a bright future and Casinobitco.in is one of them.

Whoops,
I think the IPO just crashed the Havelock Investment IPO page. Holy crapballs, "Aaaand it's gone"...

It happens with the spike loads they are working on it
Best of luck  ;)

Also pre congrats
Announcement   Start Date   End Date   Units Total   Units Remaining   Max Units per User   Price/Unit
2013-09-05   2013-09-10 12:00:00   2013-09-13 12:00:00   3000000   17379   500000   ฿0.0002

Yeah, it worried me. Luckily my order went through, I got the email and then BAM, crash. I was worried though because my order was "processing" (contacting the server) for over 45s before it finally finished.

When can we expect trading to go live?

Since that IPO just sold out in 5 seconds

There we are congrats on a successful IPO

Crap, gonna have to fill my order when trading starts. Stupidly set a high number for purchase and my order never filled since apparently the entire IPO sold out while my order was filling.

Edit; Pretty please sell me a bunch at IPO price when trading starts. "Think of the Children!" :)

WTF?  It logged me out and by the time I logged back in (2 minutes later), all sold. :-\

FYI Open Market will open in a few minutes

That was anticlimactic.

Really....pfff Havelock had huge lag.... cmon...

so crazy，nothing left.

I was logged in the entire time, placed an order for 250k and while my order was filling it sold out :(
Should have placed a smaller buy order, but nothing I can blame Casinobitco.in for.

sigh havelock crashed couldnt buy anything.
maybe labcoin way of dealing with it wasnt that bad afterall, letting everyone get some shares at least, not just the lucky few that got trough on the exchange.

Any additional shares will be offered?

That was quick. IPO took 3 minutes. I am curious how the share price will develop when the open market trading starts.

I got some shares just now on havelock for casinobitco.in but I agree with you, the way Labcoin did it was really good.

i think 3 minutes is generous. i'd say it was less than 1 minute while i watched all our orders fail

Order book is open.  One note, ignore the message:
ATTENTION!
The Public Offering for CBTC is still available! Click here to buy shares at 0.00018BTC/unit!
Ordering from the open market below does NOT buy from the public offering! You need to buy from the public offerings screen by clicking the above link.

We're working on having that removed (sold out so fast..3 mins.  New record btw).

Maybe you will work on better site stability without lags?

And the ATTENTION message has been removed.

Lucky to get some share desired.  ;D

Well the market cap isn't as big as CFIG was but glad to see havelock has a lot of bitcoin moving power :)

a.   September 16, 2013: 1,125,000 units
Within 90 days of the successful completion of this IPO, Casinobitco.in may release an additional (5%) of existing units with an offering price to be determined by the 30-day weighted average price of CBTC.  There will be an update one week ahead of time if it will not take place.
 

Trading at about 2x IPO price right now. Looks like it might go higher, I managed to get some at 0.00020 that I am NOT letting go of :)

This.  In all honesty I'm looking at Neo Bee and thinking I should avoid Havelock altogether.  Appreciate that there was high demand but I was active right up to 12:00 and then kicked out on the next page refresh and referred to the host's cached page.  Ah well.

EDIT: Congrats on the successful IPO btw. ;D

I love how this email was sent 4 minutes AFTER the IPO was sold out, :p

----

A new public offering is NOW AVAILABLE for CasinoBitco.in (CBTC)
Total Units: 3000000
Maximum Units Per User: 500000
Price: 0.00018000BTC/unit

first [12:00:25] [HAVELOCK] [CBTC] 200000 @ 0.00018 = 36 BTC
last [12:03:21] [HAVELOCK] [CBTC] 14 @ 0.00018 = 0.0025 BTC

last shares bought at ipo in just under 3min grats!

what price will the remaining shares be sold at? average price?
was abit unclear.

a.   September 16, 2013: 1,125,000 units
b.   December 17, 2013: 750,000 units
c.   March 17, 2014: 2,625,000 units

Well... that was 1 minute of madness , followed by 25 minutes of madness on the market

FYI - These are not "IPO" shares - these are early investors shares and it is up to their discretion whether hold them or sell at what price they choose - Although should add more liquidity!

After all investor shares are released by March, total "float" will be 25% or 30% if we do 2nd round IPO.

P.S. - Congrats to all IPO investors and anyone who has purchased shares, thanks for your belief in us! We will work hard with your investment and support.

Where you found the transaction data of IPO?

Congratulations and high fives all around. Quality sells :)
Even more impressive to see that no 'bounce' really happened. Price spiked to 0.00030 and seems to be staying there even with some IPO investors obviously realizing a quick profit.

in the southern hemisphere, set alarm for 1:55am work up brought 25,000+ dot on 2:01am.
went back to bed 2:05am...

I would say it was worth it! :)

Now I am looking forward to the nice pretty gambling site bringing in some volume.
What are the marketing plans?

I got a question that  the odds of the site's sports game are setted according to what? How to protect the interests of shareholders?

I tried to do the same but I missed the boat by a couple of minutes. Not happy!!!

Great success story!

Good question - I'll put a marketing plan announcement on my to-do list. We've been working on it behind the scenes.

Check out "Just-Dice" for a glimpse!

Can you clarify?

We seek to offer great odds, and best house edge for players wherever feasible 8)

To protect shareholders, we take responsibility to watch for any vulnerabilities, whether that be certain leagues or bet types we can't maintain - Ideally, when we can get balanced action, this will never be the case.

IPO stats: 57 IPO buyers (52,632 average IPO shares)
Now: 147 unit holders

We're very glad to have so many investors on-board and hope to grow that #!

Will the second round be at a higher price?

i means the odds is set by the site itself or reference to some famous gambling sites?

I can take this one!

We actually pull odds from a variety of different sources which expose their lines via open APIs or rss feeds, examples include (but are not limited to) betonline.com and sportsbetting.ag. From there, we've built a framework to analyze the feeds available for a particular event and serve up the mean or medium for that particular game. Further, we've built some hooks into this framework to override particular odds or lines in a given event (like last week when we offered reduced odds for NFL Week #1).

While this is a pretty cool framework, it's always being refined and enhanced to handle special use cases or new features.

thank you for your answer.

The second round price is to be determined based on market price at that time.

Nice gain so far today!  ;)

You "investors" are valuing this company at nearly $2,000,000, man I should start an IPO and get free money like this. TWO MILLION dollars. For a site with $10,000 of profit over 3-4 months. The dividends on 1 BTC will be roughly 5-7% yearly at 0.0002 a share from my calculations. To be at .0005 is even more rediculous.

In order of popularity sportsbooks based on google-analytics:
1. Bitbook.biz
2. Nitrogensports.eu
3. Bitcoinsports.eu
4. Casinobitco.in.

Bitbook is the only one who should be valued close to or more than 1 million dollars.

Bitbook offers the BEST lines by far, and even with Casinobitco.in's reduced Sunday -107 juice, bitbook has them beat with -106 juice ALL the time. Nitrogen also offers -106 juice ALL the time.

This site has made ~$10,000 from 3-4 months of running. This is very little. Based on the ACTUAL profits, a valuation of 250,000$ would be reasonable. IMO all you investing in this right now are idiots. Jesus christ. I've never had an issue with IPOs but these valuations are insane.

If anyone reading this wants to become rich lets create a sportsbooks ourselves, put in about $25,000 and just cause it looks good despite not huge profits, 6 months later, we'll become millionaires due to BTC investors after IPO!

Wager offered:
I will offer a 1:1 wager on that I can invest in a different stock(s) and make more thru dividends % vs. your casinobitco.in stock. Basically after 6 months we see who has made more back of their initial investment due to dividends alone. Up to 1 BTC. Really would love to do this cause this is insanely overvalued. Dividends will be a few satoshis with this insane overvaluation. I'm honestly so confident in this that one could simply deposit coins to Coinlenders and make more money I think.

Would love to see casinobitco.in owner or TheSwede75 (the biggest shill of them and obvious part-owner) take me up on this offer. I will do this offer for 3 BTC with one of them and make the bet public here if accepted by one of them in this thread to prove my point.

And this is why I usually bet big on IPOs like this. People value them vastly higher than they should be, regardless of the information presented to them. It's to the point where not only have I just about tripled (and cashed out) my original investment, but now I've got free shares sitting waiting to earn money. Thanks guys!

This happens with just about any hyped up offering out there. It's seems I don't have to do nearly as much due diligence as I used to...all I have to do is browse through the thread, look for the groups of newbie accounts going "watching!", "Great idea!", "I'll invest", etc, buy up shares during the offering, and then offer them back at insane prices...prices which are reached days to a week later.

Nothing against CasinoBitco of course, since this isn't their doing. I'm actually rooting for them, and I like my casino investments ;)

Korbman SHUT UP... Don't ruin this for the rest of us who take the same advantage you do but don't have to brag about it.

When will the second round happen?

EDIT: Missed it on the front page -

runa, minor correction : )


From prospectus:
Within 90 days of the successful completion of this IPO, Casinobitco.in may release an additional (5%) of existing units with an offering price to be determined by the 30-day weighted average price of CBTC.  There will be an update one week ahead of time if it will not take place.

The price is crashing, :(. Down from almost 0.0006 to 0.0004 so far.

Too few shares traded to really call it a "crash".  The price rocketed up and some excited IPOers and early buyers cashed in some of their shares (but not very many).

.00043 (the last trade) is almost 2.4 x IPO, so still very successful and the trading seems to have settled down for now.

Where are you getting the 2 million dollar amount from? I see the market cap is 165k right now..

Maybe my math is wrong.. And i don't own any. But if they continue with their most recent week's reported revenue the stock is currently 100% undervalued. (market cap <200k, projected revenue using most recent week >400k)

If you consider the reported growth then it's way beyond undervalued. Most securities are valued on their revenue as opposed to profit are they not? Reason being the revenue is more of a consideration when looking at a sale. At least for legitimate businesses that deal with tax.

I'm not saying you are wrong. I am seriously interested. What am i missing? Obviously they are more shares on the table. Personally i am leery of investing into any of these bitcoin related listings.

Are the owners/operators of CasinoBitco in this thread?

That market cap is based on the stocks, which only account for 10%. The price has also dropped almost 50% since he said that. So take 165 * 1.5 (just say 200k for fun) and that is 10% of the company. Multiply that by 10 to get the valuation.

10% of the current actual float? Or the projected offerings?

Current actual float (3 million * last sale price = current valuation on Havelock). There are 30 million shares total though.

 :-*

http://thechive.files.wordpress.com/2011/02/carlton-dance-gif.gif

Annoucement:

MLB 1st 5 Innings ML and spreads are now live!

Check them out here:
https://www.casinobitco.in/secure/bet-sports/mlb-first5 (https://www.casinobitco.in/secure/bet-sports/mlb-first5)

I truly think this company will do very well. Bitcoin gambling has been blowing up and I have been paying attention. I don't believe 2M is overly valued at all. In fact I think its undervalued. The top Bitcoin dice sites have done very well. With a casino and sports books going into football season I expect great things. This site is well put together and the management seems very professional and top notch. Consider the source always when you see someone posting FUD. These are the same people that very likely missed IPO price and would like nothing more than to see people sell early and drive the price back down to where they have a second chance to get in cheap. Some people will take profits early and we will see fluctuations but I believe the ones who hold will reap the best profits. Don't let yourself be mis-led by the haters. Some thought the IPO was overpriced and would crash immediately so decided not to buy and now their upset and want to prove that everyone's an idiot except them. They are basically begging to get in and want you to give away your shares. My opinion is you will regret it later if you sell your shares early. This is a well put together company and I expect it to do very well. You won't get my shares. Justy opinion

You could do a full portfolio check of me and you would not see anything related to casinbitco.in now or ever. Yes bitcoin gambling IS booming. However, casinobitco.in is not the top sportsbook and with current lines they never will be. You can say all you want that gambling is huge cause I agree with that. However casinobitco.in will never be a multi million company when there are better lines, more options and such available. They have simply followed all of the bigger books' moves, not doing anything much different. Bitbook offers 1st 5 innings lines, two days later they offer it, cmon. If they are to become bigger they need to focus on something that IS NOT offered yet, OR reduce their juice to -105/-105.

Ridiculously overpriced for an IPO which gonna issue more public shares in the future plus as far as I understand their actual plan is to sell the company?

Maybe I understood wrong though.

If they end up somehow pulling, say 18 BTC a day in profit, it will have a 100% yearly ROI. There's a bit of work to get it there, but I think it's possible. Note: that's profit, though, not just income/deposits.

My concern is on their thoughts of selling the company. I would like some more clarification on this - that is the reason I never bought (though I doubt I would have make it - Havelock should seriously reconsider the way these IPOs are done, I mean I was only lucky in the Dealcoin IPO to fill my bid wtf).

If they sold the company, wouldn't the sale price be paid out to stockholders? At least that's what I would guess would happen. And if that happened, they would sell for a profit (I hope) so stockholders would earn more as a result.

Well I speculated that if they are willing to sell the company this would be in the first 30days period and when the price would go as high as x5, high enough to attract a buyer but not very much to discourage him.

It seems I was wrong (but maybe they were gotten by surprise too)!

EDIT: So I did not think it would more than double like early Labcoin but more like Dealcoin. That said it would be worth to invest only large amounts which I did not want because of the at least 3 more unit sells...

Ahh, you mean like wait until peak price and sell asap (like the "pump'n'dump" coins do)?

I think these guys are in it for the long-run.

They seem so but maybe with a good offer...

That was the term I was not sure if it is good or bad so I did not risk (because as I said before I would had invested a big amount).

Lesson learned, 1btc in every IPO  :P ;D

Based on current average weekly earnings of around 10 BTC (that is being generous), the fact that only 75% is paid back as dividends, the fact that there are 30,000,000 shares, and taking into consideration the current market price, this means a annual dividend of 3.25%. If the Market price drops back to a reasonable level, or if weekly earnings quadruple so that the dividend is around 10 to 15%, then I might buy some more shares.

The Market price got so high that I could not resist immediately selling and getting 3 years profit all at once.  :)

Well who said they weren't going to constantly work to improve the site and offer better lines? Part of the reason of the IPO was to increase the bankroll and I'm sure once the volume comes in they will be able to compete with other sites and I'm sure they will. I respect that you are a well experienced gambler and I'm sure CBTC will listen to their users and shareholders opinions and suggestions wherever possible to better their site. Why would you assume these things are set in stone? They stated that they are working to add more features and games and I'm sure they will develop well. Let's not forget the share price reflects potential and shareholder sentiment as well. And these are bitcoin denominated companies and investments in a year we very well could have several multi-million dollar gambling sites. I respect your opinion and appreciate your input, but I don't think it's right to call people "stupid" or question whether they are real "investors" just because you like bitbook better and you don't see the value. Maybe youd rather see bitbook succeed? IDk but I would hate to see this thread turn into anything like the Labcoin thread or others. State your opinion if you are so concerned about how others invest their money and thats fine, but keep on an on and you look like you have an agenda, because why would someone with no interest in this company be so concerned? I'm sure you realize how it looks. Either way good luck to you with bitbook and I hope all the investor here with casinobitco.in see the returns I expect to see soon

too late for in?

For a long term gain absolutely..to make a profit in a week maybe....my guess is well hit .001 in a month. I would do your own research, read the prospectus, check out the site, run the #'s and weigh the risk. factor in that bitcoin gambling is set to take over most online gambling in the next year or two and I'd say we have a decent investment here. Not to mention your Btc value will increase as well.

When are we getting updated financials for Sept 12th? It's already the 14th...

At (approximated) 10 BTC current weekly profit divided by 30'000'000 shares, that makes 0.00000033 BTC per share. At 0.00042 current price, it would take 1,260 weeks for a 100% ROI (assuming no share price change). Assets currently typically stand at 100-200 weeks for 100% ROI or 0.5%-1% weekly.

It is indeed quite high priced currently.

Coinroll at 40 BTC per week x 1260 weeks = 50,400 BTC valuation. Perhaps someone would be interested in seeing Scrat and making him an offer? ;)

(If price was lower, maybe 0.0001 or less, then I'd be interested.)

Well, the only legitimate gambling service providers in HK are Hong Kong Jockey Club and Hong Kong Stock Exchange.

You're getting trouble. Potential law suit or close down of website haha ;D

real problem here is that when already Best Online Casino Sites just accept btc its harder to get new customers...
http://onlinecasino.net/index.php
http://www.bestbettingsites.org.uk/top-10-betting-sites/

Hi all,
We're going to move to bi-weekly financial updates for now, in the interest of less volatility in results/public shares.

Next update to be posted by the 17th, for the 1st-15th.

Not sure if I understand or agree. If I am holding 20 btc worth of shares, and the market price of btc doubles, I still have 20 btc worth of shares no?

If I bettor should bet 1 btc as you suggested and the market price doubles, would they not still have a 1 btc bet? I'm assuming all bets will stay btc denominated regardless of market price just like any other btc gambling site. Maybe Im just not grasping this but Im not getting why it would be tough to maintain profits with a rising btc price, in my mind I trust btc more than fiat and I keep most of my money in btc with no fear.

Also, I would think the choice to block US betters would be up to CBTC and very hard to actually enforce (TOR, proxies)

They would have to be pressured by fiat banks just like partypoker was years ago. We are using btc, its international currency. If they had to block US IP's wouldnt people just do as they have done the past couple years and just take a few extra steps to hide their location? Correct me if I'm wrong but an all btc denominated company in a gambling friendly location is fairly safe. Just like exchanges or businesses who do not deal with fiat currently can't be regulated. We only have to follow their rules when we use THEIR currency.

Am I completely wrong here? Don't take me as argumentative I am not just having a discusssion

He's saying he views it like this:

I go to the casino and have $600 I can spend. At the price of $100/BTC, I have 6 BTC.

A month later, I go to the casino with the same $600 to spend. At the price of $200/BTC, I have 3 BTC.

Therefore, theoretically the amount of BTC wagered would go down because at the new price of $200/BTC, I don't have $1200 I can throw at it.

I get that part but why does that decrease profits? Ill recieve less btc for dividends, but my share value will increase and the value of my dividend should not change. Am I still missing the point?

BTC is $100 each now. You invest $1000 into a company. That's 10 BTC.

Over a year, you earn back 5 BTC that are worth $500 each. So you have $2500 now ($1500 profit).

You could have put that same $1000 into the BTC and held it, where you'd now have $5000 ($4000 profit).

But the shares are denominated in btc, So regargless of USD value I invest 10 BTC in the company, earn 5 BTC back. Now if the value of BTC doubled tomorrow I still have 10 BTC worth of shares. Which is worth twice as much. AS well as any profits the company made in btc is now worth twice as much. Not like if the btc market price doubled tomorrow and then my shares were only worth 5 btc. Now if the company were converting btc profits to fiat I could see what your saying but as far as I see they are totally btc denominated meaning whether you have your btc in a wallet or in shares your not missing out on market price increases. Tell me if Im wrong because thats how I thought most btc securities were.

If the company is taking profits in btc and dividends paid in that same btc, and the companies holdings are btc, then the market price increasing also increases the companies holdings. In other words what Im saying is if btc value doubled overnight whatever holdings the company has doubles also. I havent seen any fluctuations in share price related to USD market of btc.

I guess the question is then, is this companies holdings and profits staying in btc? If yes than their company value would increase with btc market increase. Your right though this is all so new that noone really knows how the economics will play out.

Actually, EXACTLY like that. The shares value are based on the profits the company make. If BTC price doubles, odds are that people will gamble with less BTC and profits will lower, thus so will the value of shares.

Now your talking about people gambling less because btc price is rising and I can see that.

But if a companies profits are btc and their bankroll is btc. The value doubles tomorrow (assuming this has no effect on people hoarding more btc)
Then the bankroll doubles in value overnight, the same amount of btc is there so your dividend doesn't change but it is now worth twice as much.
Now your share value will reflect the value of the company in terms of profit, holdings, (all btc denominated) and obviously investor sentiment but why would someone then only want to pay half the value (in btc only) for a share that reflects in a big part the value (in holdings and profit 100% BTC) of the company?Maybe I'm still off but I can't get my head around it any other way so far.

If you leave USD out of the picture completely why would anyone care unless they wanted to buy some USD.
Maybe I see things differently and this could be debatable I supposed so many factors and unknowns

Try thinking about it as if USD didnt exist, pretend USD is cupcakes. Now the price of the cupcake only matters if I'm hungry, maybe get some insight as to my thinking here.

Exactly my point, assets of 540BTC will double in value. So even if its only 25 of the evaluation it still doubles the value (in USD) of the 540BTC

What's your source or reasoning for this assertion? From what I've read, major online casinos aren't seeing the demand for them to accept / switch to BTC.

The BTC gambling niche is certainly growing, but I'd be careful projecting that it will take over anywhere near "most" of online gaming anytime soon.

*In my opinion I should have put

I said most

And I believe this because BTC is perfect for gambling, it's like the attributes were created for it. I believe is BTC will be widely used and gain mainstream adoption within 5-10 years. When that being the case I believe BTC will be the top choice for online gamblers (if not sooner than mainstream btc adoption) why would you use anything else if btc is easier to get, safer and more private to use, and no waiting for deposits, payouts, or withdrawals. Almost nill fees to move this money around as well.

Now we have a long way still to go with BTC as far as ease of use and availability but I believe it will come. I mean everyday I see ideas, projects, and progress moving toward this. So first you have to believe how big bitcoin will be, then decide given a level playing firld, which would users prefer? Thats my source of reasoning.

Not really, because you can't request to cash out those shares for a portion of the bankroll. Thus if profits are lower, no one might be willing to buy at full price.

When you buy a share, you buy rights to PROFITS. You also earn a proportional share of the sale value if the casino is sold. But there's nothing about owning the bankroll or being able to cash that out at any time.

All discussion aside, I am glad we can have intelligent conversation here, whether I'm right or wrong, I'm enjoying the discussion. So far most of the thread I have seen related to securities are too flooded with idiots to get a word in edge-wise lol

Are you saying that if the company is holding 540BTC and the value doubles the other entity buying the company would ignore the value of the BTC bankroll and only consider what is was worth the day before? Or are you saying the bankroll would not be included in the sale?

A sale for USD I mean. Since we all seem to be stuck on that

Bankroll might not be included. I'm not sure of that.


Both buyback and selling clause have no mention of the bankroll.

Great conversation! Feel free to correct me here.

My sense is that typically, all assets would pass to a buyer in event of a sale.
So, in a sense, they would simply be included in the purchase price (increasing it, versus if they were handled separately), based on which all unit holders would be compensated.

To be clear, this is a hypothetical event that the price of bitcoin doubles overnight and the company sells that day. In this case though I don't see why any profit gained by this scenario wouldn't be passed on to the shareholder as well as be reflected in the share price.

The more likely scenario of bitcoin USD value doubling over the course of a year say, would have more subtle effect I would guess. But I still think the opportunity for profits based on btc market value would happen, it all boils down to what the price does between the times the bitcoins are converted to fiat and then back to fiat. The way Im seeing it, there is risk/opportunity for the dividends receiver/shareholder to make a profit/loss between the time CBTC earns the profit, and divies to the shareholders. I imagine this would produce a similar if not slightly muted result as compared to the overnight BTC/USD double in value, only over an extended period of time.

There are a lot of possible scenarios and variable, but I'm just not buying the idea that a shareholder loses value overtime because BTC value increase overtime. Not in a BTC denominated company. That would mean that every BTC denominated company is expecting the market price (in fiat) of BTC to fall overtime for them to be profitable long-term. That's contrary to popular opinion. Shares are a stake in the company's profit/loss. Consider a mining company for example, there income is btc which is paid out to shareholders in dividends. Not in dollars. BTC value increase only increases the value (in dollars) of any btc held by shareholders or the mining company. In a mining company dividends dont decrease because of market value, because their income is btc. In the casino, dividends amount will decrease because of btc market value but not because profit was taken in USD, but because btc value effects how much of it someone will gamble in USD. That would mean your USD profit would not change, but your dividends amount would get smaller.

The only way I see I would be wrong is if CBTC converts BTC to USD to hold as assets, bankroll, or before paying dividends. Maybe they will clarify this.

I think a lot of people may miss the boat on some of these securities because they can't grasp  the economics of a BTC-denominated company. It's very hard to get people to see past USD. It is so ingrained in our heads it is hard to comprehend. Most people have no idea how fiat currencies work behind the scenes at all. They just know what $5 can buy and what $100 can buy and most know that overtime the price of things cost more $ and that's it. If you've ever tried to explain BTC to someone who's never heard of it you probably know what I mean.

I guess I shouldn't be complaining that just keeps the share prices lower for longer so I can accumulate more  ;)


If I'm wrong, call me out and explain to me why.

I already did, but below is the quote so you can read it again. The fact is that while the USD holdings *remain the same*, you could have earned MORE by buying straight BTC because your BTC holdings would be greater. It doesn't matter if you spent 10 BTC and earned 5 BTC back but the price increased by 10x. Sure, you made 5x your original amount, but had you bought straight BTC you would have made twice that (10x the original amount).

Your not taking into account the share price after a year, if you earned 5 BTC back (50% Return) you would be holding shares in a decent company whose share value will very likely bring back a profit over what you paid should you decide to sell. Say the company had no growth really but maintained their current valuation (which is unlikely) and their incoming BTC decreased proportionately to their value rise. Your shares may sell for less BTC but would probably be valued (in USD) around the same amount $1000 which $1000+$2500(5BTC earned)+The same profit you would have seen from holding the original 10BTC. But if the company has significant holdings in BTC (bankroll) they would see a value increase of the bankroll and a corresponding increase in company valuation depending on how much of the company's value is in the bankroll. So in my opinion, you would earn the dividends(in USD value related to profit) The share value increase (partly from BTC holdings value increase and partly from growth and partly because it returned 50% in dividends in a year lol) which would be greater obviously than the $4000 profit from holding 10BTC. If the value of the company was solely based on the bankroll holdings it would now be 5X more valuable earning you $5000 from selling shares and $2500 in dividends.

We may just have to agree to disagree on this one ran,  ;D that would be why some are long and some are short. We wouldn't need a market if there was no question the value.

I was taking into consideration that.

At CBTC's IPO price, it would take (with 10 BTC profit a week) 17.3 years for a 100% ROI. At the current price, it's at ~40 years for 100% ROI, assuming 10 BTC per week in pure profit.

Assuming they increase their profit by 7x to 10 BTC a day instead of per week, that still leaves us at ~2.5 year ROI at IPO and ~6-7 years current. Keep in mind this means *profit*, not just income.

I personally have a lot of shares in the company that I'm holding, but I also know the risk of doing so. You have to decide on your own whether or not the risk is worth the reward.

Waiting for the new financial updates. :D

Stay tuned - will be posted in next 3 hours.

9/15 Mid-month September update:

On 9/10, we released units representing 10% of our company on Havelock Investments, selling all 3,000,000 units in a record less than 3 minutes. We greatly appreciate the support we’ve received from our investors. We saw a spike across our metrics, and can certainly attribute a portion of this to the success of our offering.

Public Metrics and Projections Google Doc update:
https://docs.google.com/spreadsheet/ccc?key=0AmSWZWkGJ1V3dFpxZHVTN0x6ZldUeHRteWdBd1pMNXc&usp=sharing

9/1-9/15/13 resulted in an estimated 39.48 btc in earnings, up from 13.5 btc in the previous period, a 192% increase.

Over the same bi-weekly period, we experienced continued growth:
-Registrations increased from 63 to 111, a 76% increase
-Deposits increased from 44.99 to 192.98.
-We saw increasing action in the Sportsbook, including 170% growth over a 2-week period in # of bets 8/15-9/1 over the first half of August, and 236% growth in # of bets 9/1-9/15.
-The Casino also saw increased action

We're continuing to work on our reporting functionality and the depth of information we can publish for investors. Our full month-end update, which will be more comprehensive*, will be published by 10/2, covering all of September.

Thank you!
-CasinoBitco.in team

***Important note: The mid-month update does not include information on our development and full P&L we will hold for the regular month-end update, including expenses and dividends, and will focus on estimated growth and earnings only.

The period from 9/1 to 9/15 is longer than the previous period, so that's not really a 192% increase.

uvwvj,

Full financials and P&L will be updated will come beginning of month for previous month. Please correct me if you are looking for something else  :)

a.   September 16, 2013: 1,125,000 units
b.   December 17, 2013: 375,000 units
c.   March 17, 2014: 3,000,000 units



What does this mean? 

wasn't suppose to be released more units into the market today?

U mean owners of the site? or even  shareowners?

These are pre-IPO investors that helped with bankroll raising earlier on. In exchange for their capital they received shares post IPO based on the schedule above. As mentioned, they can do whatever they like with the shares, hold or sell.

-

Awesome, crystal clear!

Like how this is going (y)

Seems pretty clear what the pre-IPO investors think of the company. Additional shares are released and price goes up :)

Support bitcoin gaming! Like us on Facebook - Follow us on Twitter!

https://www.facebook.com/casinobitcoin (https://www.facebook.com/casinobitcoin)

https://twitter.com/casinobitcoin (https://twitter.com/casinobitcoin)

Can u still keep offer daily update,cause we shareholder pay close attention to it.

Public Metrics and Projections Google Doc update:
https://docs.google.com/spreadsheet/ccc?key=0AmSWZWkGJ1V3dFpxZHVTN0x6ZldUeHRteWdBd1pMNXc&usp=sharing


no any update?

Hi - Our September report was release on 10/3, and can be found under the "reports" section of Havelock. Here's a direct link which also has a link to our public Google Docs folder:
https://www.havelockinvestments.com/reportdownload.php?id=36

UV -

Agreed - It was a mixed month! Fortunately, things are going well with our main goal - continuing to build out the website. As mentioned in the report 

-We will certainly consider your suggestions here- A ticker of large bets placed has been suggested and may be a possibility.
-The weekly metrics spreadsheet has been updated. We are considering other formats for that info.
-The cash assets are primarily set aside for ongoing expenses, but potential USD/BTC price fluctuations should definitely be considered from a business standpoint.
-Agreed on internal marketing & bonuses. This is a top priority!
-Our new games development is proceeding quickly. I expect to see them soon. We've also been focusing heavily on preventing losses from professional action. More updates to come. 

Hi, my first post on this forum!

Very interesting site!

A few questions

1) How and when is the divident payed?

2) Why won't all of this just be wiped from the market if/when the big players start accepting bitcoins?

3) What is the counterparty risk with Havelock? Are my shares wiped out if they go down, or do I own the shares to my name?

And one more.

What is the timeline of the affiliate program?

Great questions.
First - our affiliate program is still a top priority, however we've been focusing on getting a couple new games out before building it.
I expect it to be started this month and released in November.

1 - Dividend is paid on the first week of each month based on previous month operations.
2 - We hope to have significant enough competitive advantage & a large enough bitcoin player base at that point to continue to compete and grow.
3 - Havelock provides a live investor list. In the event the site went down permanently, we'd look for somewhere else to re-establish that list or manage it manually.

Only MPEX left and maybe Picostocks...

Thank you for the reply!

Will you guys up the design too? I think a gamber, like myself, wants to be thrown right into the action instead of seeing a picture.

It should be right in my face what games is coming up and the odds on them e.tc, and not very much clicking around.

Me again with more questions!

Do you plan on running any promotions when you start the affiliateprogram? Much easier to draw costumers with that!

Hey Jung!

We 100% agree. We're trying to re-do the home design to be more immersive :)

So far, our new MMA odds have been very popular, and we're getting close on 2 more casino games. Once those are live, we'll have plenty of attention for affiliates.

We also do plan on rewards/promotions once affiliates is live to help our affiliates draw players!

Update: 1st-half October numbers to be posted sometime this afternoon.

CasinoBitco.in Results of operations for the first half of October - 1st through 15th.

Sportsbook: -99.990 btc
Casino: +11.070 btc
Total: -88.92 btc

Casino Hands:
11892 games (76% last period)
405.6 btc handle (66% last period)

Challenges:

The first item we'd like to address is our 2nd consecutive sportsbook loss. We've taken serious action to mitigate further losses in the sportsbook, including heavily limiting bet size on our must vulnerable sport thus far, College Football (totals, especially).
Further actions include, as mentioned 2 weeks ago, delaying the opening line and lowering limits on bets - especially until the day of the event. We received some messages suggesting our lines were not moving, and this is why we were getting "beat" - however, this is not the case, as our lines update with the market instantly. We believe we simply had released them much too early with limits that were too high, before the market had decided on a more fair line, exposing ourselves to unnecessary risk.

Despite these changes, players had extremely positive luck/variance on "significant" spread/total bets over 1 btc risked, getting over 58% correct over the past two weeks (the win % was much lower on smaller bets). Had we not limited bet size, the result would have been much worse for the house. After researching a variety of factors to verify none of these bets were "late" or with a bad line, etc, we can only attribute this result to sharp professional action and luck. We've been able to identify accounts displaying professional tendencies, including beating the closing line at game time. Additional steps will be taken to limit exposure from professional action as necessary, including laying off at other books, and we consider this a top priority.

Traffic:

While action was strong in the sportsbook, action was slightly down in the casino, in both # of bets and total wagered. We attribute this due to some of our regular players not playing as much this period and our working to build in better promotions to keep our best players and attract more new players.  We also had some negative variance in the past week reducing our revenue. We firmly believe the release of new games and built-in casino promotions will be great for driving repeat players in the future as our product becomes more entertaining.

Developments:

Hi-Lo - Our new Hi-Lo game nears completion - it's a fun, fast-paced style game that involves 12 cards from a 52 card deck being dealt face-down - players work through the cards guessing whether the number value of each progressive card will be higher or lower than the last.
Estimated release date: 2nd half October 2013

Roulette - See work in progress demo here: http://www.youtube.com/watch?v=lXPU_ZtO89Y
We're very excited about our upcoming roulette game, which is completely unique and will be hands down the best HTML5 Provably-Fair version of roulette on the market.
Estimated release date: November 2013

Sports Leagues - We've added NHL, MMA and Boxing, which have already been quite popular. In the works for this week are tennis moneyline, game handicap, 1st set, and total betting. We'll continue to add more leagues & options from there.

Marketing:

We're currently planning a major marketing campaign as we complete these new features, targeting major forums and sportsbook listing sites.

Conclusion:

Despite the negative results, our outlook remains optimistic, and we're proud of our continued work this period. We are still very well positioned to earn tremendous growth and believe some near-term development and marketing tactics will certain push us into the black.

We'll do our best to respond to any questions here - Thanks all for your patience and support!

How much of the losses are from sharp action?

Jung - Good question - Roughly all of those losses were from a very small # of sharp accounts.

These players account for roughly 10% of our bets and a somewhat larger chunk of our action.

We're doing our best to minimize exposure to these players without an outright block at this point. The action has been heavily researched and determined to be legitmate, and not beyond good sports betting runs I've seen outside CasinoBitco.in. The idea is certainly to have "balanced" action, and we hope to continue to grow to that point and create incentives for that, including building in mechanisms to make our odds slightly more favorable on the side of an event we need additional wagers.

This will take a few weeks to build in but is a top priority - in the meantime, we'll limit our exposure at sports.

Why the major tank job on this stock? I understand the first 2 weeks of the month have been challenging, but people are unloading this like they have inside info to this past weeks results!

We're wondering the same thing!

There's no inside job that I'm aware of - in fact we've actually had a very encouraging past week in terms of revenue and features added to the site. Feature notification will be announced as the new products are stabilized and ramped up for all customer traffic, and revenue details will come on schedule early November.

Thanks for the reply and a peek at what we can look forward to in a few weeks!

CasinoBitco.in is proud to add "Hi-Lo" to it's provably fair HTML5 Casino!  Users can play for a minimum of BTC 0.001!

Important for investors:  This game has a 9.44% house edge!

http://www.casinobitco.in/casino/hi-lo

We will begin to cross-market this game in our sportsbook, as well as paid and organic search campaign tactics to bring awareness to our users.

any chance we are gonna see a dividend this month

+1

While we're making a lot of progress, and whlie the 2nd half of the month has been encouraging, we have to make up house losses in the sportsbook for the past few weeks before a dividend can be paid.

It's very important to us to pay a fair dividend, and we hope we can do this sooner than later. More details to come, but we're going to be embarking on some significant development and marketing investments over the coming weeks, and we expect this to increase our action and earnings significantly as we win both bitcoin and traditional players over.

From the perspective of a long-term investment, all signs are promising. Other questions for the report are welcome here or via PM.

Full details to come in our October report set to be released mid-day on Nov 1st.

taking only the last 2 weeks, where are Green o Red? Not asking detail just some info.

We've had a very strong last half of October on both the Revenue side as well as the Product Development side. Complete detailed information for the past 15 days as well as full October to be shared tomorrow afternoon!

Ok, thanks for the info. I will see the detail tomorrow.

Hi all,

Report will be posted around (edit) 7 pm EST.

CasinoBitco.in - October end of month update:

Thanks as always to our investors for their gracious support and patience! We believe strongly in the power and potential of bitcoin, and are working diligently to make CasinoBitco.in the best place to play.

The monthly report can be accessed from HavelockInvestments:
https://www.havelockinvestments.com/reportdownload.php?id=37 (https://www.havelockinvestments.com/reportdownload.php?id=37)

From the report:
"October saw solid results, especially after mitigations were put in place to hinder sharp, or professional, sports betting. As previously mentioned mid-way through the month - players were up around 74 BTC from 10/1/13 to 10/15/13; however, for the tail end of the month (10/16/13 - 11/1/13) the house earned nearly 40 BTC signaling that mitigations and new product developments are helping CasinoBitco.in turn the corner."

-Metrics sheet updated:
https://docs.google.com/spreadsheet/ccc?key=0AmSWZWkGJ1V3dFpxZHVTN0x6ZldUeHRteWdBd1pMNXc#gid=15 (https://docs.google.com/spreadsheet/ccc?key=0AmSWZWkGJ1V3dFpxZHVTN0x6ZldUeHRteWdBd1pMNXc#gid=15)
-Finances updated:
https://docs.google.com/spreadsheet/ccc?key=0AmSWZWkGJ1V3dDl0STVudkZBUm1fRTlXMUFzZ3dkUXc&usp=drive_web#gid=9 (https://docs.google.com/spreadsheet/ccc?key=0AmSWZWkGJ1V3dDl0STVudkZBUm1fRTlXMUFzZ3dkUXc&usp=drive_web#gid=9)

-As discussed in the monthly PDF, page 3, we are seeking additional capital outside our "betting bankroll" to utilize for fast-track development and marketing activites.  See the link here for more details: https://www.havelockinvestments.com/reportdownload.php?id=37 (https://www.havelockinvestments.com/reportdownload.php?id=37)

Thanks all for a great month of progress for bitcoin and CasinoBitco.in.

Please PM, post, or contact support@casinobitco.in with any questions.

It's great to see that income went up in the last two weeks. I'm hoping this wasn't just variance, though, and that it continues. If it does, we just might see dividends next month, :).

Great work casinobitco. Strong reviews and impressive progress with the site. I appreciate your candor with the professional betting issues and it appears your response was timely and effective. Keep to the grind and I, for one, am not terribly concerned about dividends. Keep reinvesting and growing the business.

On a separate note, Havelock has been acquired by The Panama Fund. Thoughts or concerns? When can we expect the next release of shares?

Thanks - we're working hard and are confident we're on the right path here!

We are very happy and thrilled that Havelock has been acquired by the Panama Fund, its great for us and even better for investors. We don't have an exact timeframe on the release of the next round of shares, and there is still a potential that we don't release those shares - but we will know by early next week the method in which we are going to pursue for additional funding.

Somehow related to CFIG ?

Promotes security exchange and stability so yes in a sense in my opinion

Good job,you guys did a lot hard work.

As mentioned, we are seeking to raise an additional ~500 BTC or fiat on top of our current bankroll for the following immediate uses:

1) Completion of Affiliates (Will spread our SEO and # of views heavily, add repeat players, and immediately list us on top referral-based sites like BetWithBTC.com)
2) Launch of Roulette for our Casino (Currently in functioning developer alpha)
3) Extending our odds via rss/xml live feed (Enables our listing on odds tracking websites
including OddsShark.com and SBR.com, potentially bringing a lot of traffic).
4) Related to #3: addition of more sportsbook leagues features, including potentially cross-sport parlays, teasers, progressives, multichance, if-bets, reverses, and round robins, as well as buying/selling points functionality.
5) Launch of Sic-Bo (#2 Asian market game)
6) Native multiple language support and translations (Chinese, Russian, etc.)

- Once the above items are largely completed, we plan to execute promotional marketing campaigsn with one or more top-tier sportsbook portal/forums. We're currently in talks with Covers, EOG, TheRx, and other players, and are ready to start with these portals at any time, which will include banner/newsletter/forum/article and social media presence.

Edit: Our total spend on marketing may be ramped up to roughly the $5k a month range, once started.

Timing is key here to take advantage of peak season with all major sports in-season. We're willing to accept Bitcoin or fiat in exchange for equity in the form of CBTC shares. PM myself or casinobitco for more details.

So, is that your way to your first round shareholder who bought@0.00018 per Unit  still hold them now?

You gotta keep in mind that this is a BTC & Fiat backed company. Our specific need for fundraising currently is to raise fiat to pay for development and marketing with firms that don't accept Bitcoin.

With that said:

USD Price of BTC on 9/10/13 (first round IPO) : $130
USD Price of BTC currently: $261.40

When we sold out (in less than 2 minutes flat btw) for our first round IPO at 0.00018 that was equivalent to $0.0234. With our next round (at .00015 BTC), we'd be looking at an equivalent of $0.039. Trust that there was a lot of thought and tough decisions to come up with this price, and if the price of BTC didn't double over the past month - we (a) would be trading much higher and (b) be opening up the next round at a much higher price point, probably .00036 minimum.

More details on this rationale and strategy (as it relates to dividends) forthcoming tonight.

Seriously? You are talking fiat now.Why don't I just hold btc till now. I bought beause I want to make more btc.If the
btc price rise to $10000, and you sell share @0.00001 btc equivalent $0.1. So, you will tell me I earn a lot of money?

kololo:

I appreciate where you're coming from. Trust me, we wish the BTC price was higher as well, so we could raise more capital. With this move, we have the best interests of CBTC and all shareholders in mind.

For any raise, we have to base it on market demand. As a gaming operation, our results and value are natrually pegged to a mixture of BTC and fiat. Once we show significant regular profits and pay a dividend, the market will increase our valuation.

To raise capital now, this price appears the best possible balance between demand and selling out quickly.

I encourage everyone to calculate what kind of dividend we'll be able to pay with earnings of 50 btc, 100, and higher per month at current prices - which we fully expect to achieve. More to come in a few hours!

soo... what happenned to the more to come?

Check out our new thread, and this post on our blog!

https://bitcointalk.org/index.php?topic=326666.0

http://gambleonlinewithbitcoin.com/blog/?p=65

Kololo,

This is precisely the problem with using Bitcoin to invest in enterprises that require conversion to fiat to run their business. Bitcoin is a currency that is appreciating so rapidly that exchanging it for shares in a corporation is extremely complicated and very risky. No security, bond, or fund shares will appreciate in the short or even medium term at a rate even close to Bitcoin, so if you elect to exchange your Bitcoin for shares of an enterprise, you had better take a long position, be patient, and don't commit any more than you can live with losing entirely.

Who can tell the reason why the price is only    ฿0.00009480 now??

1,500,000 more shares were released. When supply goes up and demand stays the same guess what happens?

Only about 900,00 shares were actually released - the other 600,000 we planned on releasing were cancelled and returned to the founders.

You'll notice the volume in  trading is very low, in fact - it would only take a few bitcoins to get us back to IPO level (which is a much higher amount if you take into consideration the BTC upswing in price)

Hi, first post. Been a full-time online gambling affiliate for a few years. Building content websites, SEO, converting visitors, playing at loads of online gambling venues. No experience on the operator side of things, but experienced on the traffic and conversions side.

I like CasinoBitco.in. It's more functional than the other bitcoin casino websites I've tried out. It's certainly basic, but it works well and it's easy to use.

What's the plan for the web development side of things?

I like the way you've set up the site - the sign-up process is quick, and the get started guide upon first log-in is smart. The whole registration process was a good one for me.

As I mentioned, the website is wonderfully functional, but also basic. It doesn't seem as though it would be difficult for a new competitor or an already etablished online casino to start competing for market share in a relatively short period of time.

How can you move far enough ahead right now to give yourself an advantage over emerging competitors? I think Bitcoin casinos and sportsbooks have a future, and it won’t be long before more people arrive to exploit the opportunity. You’ve got a head-start, and I want to believe that you have the ability to remain innovate and continue to improve in the face of inevitable competition.

A few general thoughts:

1. The casino games work well. They’re quick and efficient, and that’s such a breath of fresh air from the existing set of online casinos. But the games are not pretty just yet. They’re not as fun as the colourful slot machines I love to watch, or the sound of being dealt another hand in blackjack that I love to hear.

Is this a limitation of HTML5? Could you improve the aesthetics and gameplay given time? The experience isn’t as good as the one I’m going to get at a Flash casino.

2. http://www.casinobitco.in/bitcoin-casino - Screenshots of the games with bigger “Play Now” buttons would be awesome. I don’t want to have to scroll through a text description of the game. Text descriptions don’t get me excited to play roulette, but having a screenshot of the roulette table will get me clicking.

3. I’m sure you could find a more attractive deck of cards. The current deck design reminds me of my time spent playing Hearts on Windows 95.

4. Why the footer navigation? Wouldn’t sidebar navigation be more practical? This way I can see everything on offer. I don’t have to search for it, or forget about trying different things because all the stuff is buried at the bottom.

I think the site would benefit from taking a few design elements from existing online sportsbooks. I really like Bet365. I think their layout is functional works well. Maintain your own casinobitco.in style of course, but why not grab some ideas?

5. With the small generic logo and large stock photo splashed across the front page, there’s very little to distinguish the site. No brand or feel. It’s easily forgettable.

Also, on the homepage I'm not shown any casino games to choose from, or any cool sports betting options. The focus is for me to "learn more", but all I want to do is create an account and start gambling.

Where’s the fun gambling stuff and how do I get down to it?

How can you get me more excited to start wagering? More importantly, how can you make creating an account as obvious and frictionless as possible?

How about a big registration form? So it’s like “look here, look how quick and easy this is”.

One of the awesome things about Bitcoin is how quick and easy it is to move money, so why not showcase this by highlighting how quick and easy it is to gamble at casinobitco.in, as opposed to trying to sign up and deposit at 888.com? I’m not shown the advantages.

6. I think you could get a sexier logo by running a $400 logo contest.

7. I love the help and support section. You’re doing the important things very right. You’re making me feel comfortable with your well-presented pages than any other online casino does. I’m sure this will give you an edge.

Tobasco - thanks for the very suggestive post! We absolutely take all feedback into consideration, as our success - is our investor's success.

I'm happy to report that a few of the items you mentions are in-flight and hope to be done before the end of this year. (FYI - We just updated Blackjack with some animations and sound effects, I'd love to hear your opinion on those changes!)

FYI - We sunset this thread once Havelock as sold to the Panama Fund, so please be on the lookout for updates in this thread below!
https://bitcointalk.org/index.php?topic=326666.0

No worries. I hope my post didn't come across as too rude. I just like the way you do things and wanted to throw out any ideas that sprung to mind that might help.

Didn't know about that thread. Thanks.