Bitcoin Forum

Hey All,

Im in a discussion with one of our partners to run an Exclusive Slotrace for bitcointalk members in March.

This is how it works.
Spin to Win at ( Casino XXX ) Slots Race. Play your favorite slots any time from "Monday 1st March to 7th March" and earn Comp points in the Tournament.
Accumulate Comp points during the promotion period, the top 3 players will receive a prize with the top player picking up a cool 0.3 BTC.

you need to register an account and make a do a minimum deposit of 0.03 BTC
Full prize list as follows:
1st place = 0.3 BTC
2 and 3rd place = 0.2 BTC

What do you think,  is this something that you would be interested in?
Or should we change something? or just skip it?

Who is going to win? the one who have more spins or the one who have more winning spins?

I think the 0.03BTC minimum deposit term is too much, 0.01BTC would be more appropriate

He said about comp points, means the winners will be those who have the highest points. On the other words, it is a wagering competitions. The more you wager, the more points you get = the higher chance for you to win. It is basically a common tournament, there are many casinos offers this kind of promo.
I have to agree about the minimum deposit, I do even think that it will be better to have no minimum deposit as the main point here is to wager on slot games. Of course the more bankroll the more spins we can make but small deposit might be lucky as well if we win big on the beginning.
Anyway, who will provide the prize?

Is it only me or what, I searched 'Casino XXX' and the threads that showed to my search are all porn site.

so to be eligible to the the promotion we need to deposit at least 0.03 BTC(that's big, for me), I think it's much better to lower the required deposit so many players would be interested and make it higher after the 1st Slot Race succeeded.

I can't really comment on slots, cause that's not really my thing, but I think any type of wagering contest (since that's all that this really is, right?), for it to attract players, there's just 1 important thing: positive Expected Value.

That's quite easily calculated for dice with a clear house edge, but I can't say about slots. They have higher edges and not all have it published.

leonair, casino "xxx" isn't the name of a casino, just an example.

You must be kidding dude, I'm quite XXX here is not the name of the casino. Since it is starting discussion and there is no chosen site to run the tournament, so he put XXX.
To be honest, I wont participate on wagering contest no matter what game is used because of limited bankroll. I would suggest you to run similar contest that has just ended in playbetr. It was slot competition as well but not about wagering. The winners are those who have biggest multiplier in single spin.

Thanks for the feedback, we will definitely lower the fee.
Will discuss with the Operator and update here next week.

We will for sure lower the minimum deposit, probably to around 0.01
the Operators name is not XXX its just a project name.
Payout will be from the Operator.
We will probably need at least 30-40 players to make it happen since we will have an added value to the pool.

Next week i will have the whole structure ready. and if you like it we will start this Race in March.

Having agreed to some adjustment, I think the estimated price money for winning position 2nd & 3rd shouldn't be put at same price of 0.2btc. 2nd position should be bigger than 3rd position.

Then since you looking at 30-40 people, maybe you can increase the number of beneficiary winners to 5 to attract people for a start.

0.03 as a minimum deposit is too high and I wouldn't be interested in that. 0.01 BTC is acceptable but it would depend on which casino that competition will be held at and the positive/negative history of the casino. 

So the overall prize would be 1st = 0.3 btc 2nd= 0.2 btc, 3rd = 0.2btc = Total = 0.7 btc.

Since you haven't mentioned on how many players needed to deposit then I do presume that with the entire prize pool of 0.7 with having a minimum 0.03 btc then it does need 23 players
to accumulate the amount or unless you said you would need 30 players or more.You didn't mention on how much deduction you would get and also
I don't think this will gain some attraction due to high minimum of bet.

Hmmm , interesting. Tho a 0.03 is quite big. And how do you accumulate points ? By playing ? So everytime you play , you get an X amount of points. If my understanding is correct this would give an advantage to big players , i mean to those who have a large pot of money to play with.  :(

That's absolutely the main advantage for players with large bankroll. It would be more fun if the competition has a rule "all player start with the same amount of bankroll" so all players has equal chance to win the competition based on their own luck while playing the game. At least it will not be based on who have the larger bankroll = winner. This gambling industry needs something new or something different imho.

I don't like this kind of promotions since can wins only the richest person. I link more promotions where more people can win but of course, you need to look only the profit for the house.

The advantage for high rollers completely makes sense here. They are risking big amounts in order to win big rewards which is why they should be handed this advantage.

Treating everyone equally would make it unfair for them in this scenario which I and many others do not support. It is basically a high risk, high reward scenario.

For rewards, I think is fair enough. You get back the quantum of investment that you put on line. That is fair to nature and not depriving big playersvof their big investment.

Unfair is subjective in this case, maybe it is unfair for those who have big bankroll but it can be fair for those who have small bankroll. But it is not what I'm focusing on, I prefer to "fun" game only so all participants can enjoy the tournament without risking too much money. If the prize is too much then simply reduce the amount. It is just a suggestion, decision is absolutely on OP's hands.

Might be that's the catch there mate, whoever have a huge bankroll gained also the higher chances of winnings, as they can continue with their
deep bankroll, while those who can only afford the minimum will lean with some luck, and we knew this type of games are mostly based from luck
so surely some gamblers will still go with it.

Taking advantage of what you've got is not a crime, maximizing opportunities is just another way to win.

Anyone would surely want to win but I guess if the cash price will only be at 0.3 BTC sure thing players will not top up that amount because if they consume money more than that price then there is no sense winning it, but if a person is sure is lucky then he would never think of that cap and go play as  many as he wants it will still depend on each and anyone's luck and just as you said maximizing opportunities is the main goal here and I think OP had a solution to surely make this competition a worthwhile for many participants, And I think I will just look around because I am not used to making difficult decisions when gambling.

won't be interested in this for many reasons
one of them being 0.03 deposit to risk for a chance to win 0.3 btc at an uknown casino is way EV- :)
slots is not the most popular game across the board and it is 100% pure game of chance, unlike some other games, for example - dice
lower the deposit requirement and uppen the prizes and even then I don't think you will see a que of gamblers to take part
but once again it is just my IMHO

This is a good way to get more possible money for the house since 99% can't win the competition. I don't like it but they can do whatever they want.

Basically, if you can play a big quantity of money in small bets to reduce the variance, you will get a "fee-back" with the promo

Considering the edge of the house if it is 1% the gambled money needed to win the ranking in small bets needed to be around 100 times the house edge to be even.

IMO, to win this game you will need enough capital to have more points if the winner is determined by points, High points=winner (cost a lot) and low points = lose (won't cost that much) then the prizepool will also increase if the game get a percentage on every btc the players bet and add it on the prizepool.

I dont think that the prize will increase, it is a fixed prize IMO as per explanation by OP. Sure it is a high cost tournament if you are willing to win the prize, but if you join it for fun only and only make the minimim deposit required without any additional deposit then it wont cost you a lot. You may even win big if you are lucky enough, because slots game may give you unexpected big win even with small bet only.

Is there any update on who are have win the competition so far and what is the minimum withdrawal from your site and I don't think there be any increase on the rate although this a reply to those of you guys who are as.

We can wait for further details of his project. Because once he established his rules and procedures, we will know how much they will get from it.

The calculation is so easy that we will know beforehand if they are being greedy or not.

Will watch out this space if things go well and as per the planned then might be interested to look at it in details. But for now will see the how the rules and regulations are being maintained and how will they make money and how much approx will benefit us.

Hi, will come with and update today or tomorrow, still waiting for some feedback from the Operators I have been talking to.
Want to make sure this will be a really good Race for everyone. We will do this:)

Best regards

Andreas

It does not matter if they are going to profit for them or not because it is a marketing program, which is they already have this budget to promote their site. And if there are more players they will get more but if only there is not that much players around but most of them is a big players then it will give them some profit as well so there is no way to predict it anyway how this is going to work. This should start in the first place after they putting this much effort

If they wanted to attract more players, they needed to start this in all cause, as they need to gained trust from other gamblers who's watching and
checking if what can be the outcome of this , they need to be true from their words, if they already allocated the funds they need to take the risk
for more successful journey.

The owners should update people around here to whatever plans they have for this game.

Hey all, here is an update, we have a operator that are interested ( well known for most of you i guess ) Will reveal the name, when we have the structure ready.
I'm trying to create a tournament, that is interesting for the players, and also potential good for the operator.

*The Operator, will Confirm everything here at BitcoinTalk, When we have agreed on the Structure of the Tournament.
And will also be responsible for reports updates and payouts.


Updates
This is what we agreed on so far
*metric to be used for the leaderboard: amount of wagers
* min. amount for a player to qualify: 0.01 BTC
* prize pool to be shared by 3 winners, roughly taking 50+33+16% of the pool
* results to be updated frequently on btctalk
* timeframe: test run throughout the month of march; possibility to run more rounds in case we get good results...

Things yet to be discussed: ( here i need you feedback ) When we have this things in place, we can go ahead and start the tournament.

* min. number of players for the prize pool be become available and to start this tournament.;
25 or more players joining in the prize pool would be 0.15 BTC
for 50+ players the prize pool would be 0.3 BTC? How does this sounds?
Do you guys think this is realistic, and would it be interesting to play it?

* okay for the prizes to be deposited to (Operators) account as credit carrying 1x wager requirements?
* okay to come up with a rule that anyone taking part in the tourney, may not claim any bonus on their deposits (so the wagers would be 'clean' and only come from real money deposits?

Last but not least, Do we need to add something?
See this as a Test tournament, If this works out OK, we can adjust things to future tournaments, if you like it.



Thank you 

Andreas.

0.01 minimum deposit or minimum wager or probably like a fee to join?


To be honest it is not interesting tournament for me as it is just like other slots tournament on most bitcoin casinos sites where they have fixed higher prizepool. High rollers wont be interested as well IMO as they will prefer to participate on bigger tournament.


Again, it is not OK for me. Logically, participants are risking their money on the tournament. Why they should risking the prize as well, winners may lose the prize due to the wagering requirement of the prize. May we know which operator is going to support this tournament?

Sorry no offenses for your tournament, just saying my personal opinion. Others may have different opinion. Good luck with the tournament.

Thanks for explaining how it's going to work. I also agree on the inaccuracy of the minimum deposit requirement. After all, people will be motivated enough to deposit money so that they wager more than others. At the same time, of course, it makes sense that if the person who wagered more than others actually wagered a really small amount of money, the prize might be too big. That's why I offer the following: why not to make a minimum wager requirement to qualify for each prize instead? IMO it would make much more sense.