Bitcoin Forum

https://thebitcoinstrip.com/blog/investing-in-bitcoin-casinos.html

In Las Vegas, it is referred to as theoretical loss and is what your comps are based on from a customer point of view.  One factor I would add to list of risks is the whale factor.  That is, somebody with a large bankroll will come in and take a significiant chunk of the house's capital.  This is a good article and should be read by those interested in investing.

Why shouldn't you invest? They are largely unregulated and the owner can walk away with your money at will.
If you fully trust a site, then there is little reason not to invest though, as long as the site is sufficiently buffered from big losses from whales.

I do agree with you these online gambling site are very risky because you don't know what is going with their financial condition and if they have many losses they can simply move away without any legal problem . These online gambling sites should be regulated and must have some proper license for there business.

Very true. Unfortunately the two persons I fully trust in the bitcoin gambling industry don't want my bitcoin investment. Stunna is rich enough to support the bankroll and don't want to share his profit with us, while dooglus has decided not to deal with bitcoin directly.

Are you talking about investing or starting?

Investing in a bitcoin casino is putting money toward one, without having to be involved in operations. I don't know how someone invests in an bitcoin casino like this, do you?

Starting a bitcoin casino sounds like a great idea but also requires one to run the business...

This will be called blindly investment which is most of the time very dangerous . I personally not going to invest like this without knowing the site owner.

Just-dice accepts investments and i think its somewhat safe, would someone confirm?

Many dice sites accepts investments now. Even newly created ones like DaDice. If this is safe I would assume yes. But again there is nothing sure in this world beside death and taxes.

Runners is easily the biggest risk on that list... 2014 was a rough year for that

I know someone that lost 7k btc in one bet on just-dice so imagine investing at that yime

Are you talking about the guy who started at 2 K and started betting 1.0x x, and kept betting until he lost ?

Im talking about the guy that bet 7k btc at 96.2%

really good advices, I have invested sometimes in dice and it is only profitable if it is a new site and you have luck

That's true which is why it is advised to invest only if you trust the owner and also the way a site is run and that goes for every business not just gambling industry. Trust is the main factor when investment is involved. For ex. If Primedice starts taking investments tomorrow, people will invest with their eyes closed, why? Because of the Trust for the site owner and the Trust that the site is run in legit and responsible way.

Sounds like a nice advice, just to add, its also good to invest in sites which have the most wagered. As being profitable there is of higher probability, as 1% of the wagered would be more.

have luck? luck is nothing to do against investing in a dice sites, because basically we do nothing about this, we just put in our coins and hope people bust out their bankroll, so it is nothing to do with our luck

Well investing does have a factor of luck. Apart from the edge, gamblers do get lucky and win. And the inversem sometimes the house gets lucky and wins as well. So the luck does come into place then.

indeed i agree, there is always a luck factor, but i think being an investor is luckier since we basically just put money there and usually gambler will lose  ::) ::) thats including me

Investing involves the risk of losing it. Chances are you might break even and hopefully you will gain a profit. But all depends on outside factors, some could be predictable, but is always a risk, a gamble you could say, thus investing in BTC Casino's could be as risky as gambling. Though the odds are mostly at your favour and chances of ROI are bigger then when betting your BTC away at the wrong side of the casino.

The link was really helpfull thanks   ;D

Aren't a few of the Casino listed on what is it Haverford.

This has certainly happened many times before. The most famous of which was Just-Dice's nakowa incident where a whale (nakowa) had a massive winning streak that destroyed investors' funds and turned the site's profits negative for weeks-months.


And this has happened many times too. Dice.ninja was one example. Unfortunately, after dooglus shut down Just-Dice, he began promoting Dicebitco.in which ran into a few problems and a lot of investors lost their funds. After that, he began promoting dice.ninja. Because of this, lots of people invested there too and then the site owners ran away with 2,000+ BTC. Dooglus is good guy but I wouldn't trust any site he promotes that isn't owned by him.


That is certainly one reason why Stunna doesn't allow investments but he also said that he would rather not have the responsibility of looking after other people's money (and the stress that comes with it) as well as the fact that it can't be insured against losses, hacks, theft, etc. and there is no provably fair system to accept investments:



They recently reopened after a long break and they do accept investments now but only in the form of an altcoin called CLAMs.


Havelock?

Nice article. I hadn't seen it before.

I have a few comments:

This inset list was odd:

https://i.imgur.com/5B8UwIh.png

as far as I know neither satoshidice nor moneypot accept external investment. And you're missing bitdice, which is one of the most profitable. Also the table doesn't fit very well in the box so it's truncated on the right, as you can see in the screenshot.


I think positive and negative variance don't really mean anything. Variance is defined in terms of the square of the deviation from the mean - and so is always non-negative. I think when people talk about "negative variance" they really just mean "bad luck".


Just-Dice has no cold wallet. Instead we allow players to deposit just a fraction of their gambling bankroll to be used as collateral while keeping the majority of it under their own control. See "offsite investing" in the JD FAQ tab for details. Basically we are encouraging investors to "be their own cold wallet". There's no value in us holding a huge number of coins in an offline wallet when it's safer (for us and for the investors) if they just look after their own surplus coins. That even lets them keep the majority of their bankroll in BTC, USD, gold, sports cars, or any other asset class, which still having it act as if it were invested on JD.

Interesting. I didn't know that it was a recommended security practice. I have 5.5 CLAMs invested in Just-Dice (up from 4.6 a few weeks ago). I assumed that the offsite investment feature was introduced to lessen the centralization of the CLAMs currency on JD rather than existing as a replacement for the hot and cold wallet system. I remember the old JD had a cold wallet back when it used BTC.

what? prc at #2 i think bitdice is more profitable than prc..

It's not. Pocket Rockets Casino is the most profitable Bitcoin dice site at the moment. 1479.4 profit at this time with over 2700 invested.

These numbers  seem like they are VERY outdated(from a  time when just-dice was huge and BTC was triple-quadruple of todays price). Since the usual investor edge is 0.9%, even if the $1 million number would be true, that would only equal out to be 9,000$ profit a day.

Take a look at https://thebitcoinstrip.com/leaderboard.html :

Most coins wagered over the past 30 days.

BitDice: $27,399,580
Primedice: $18,717,438
FortuneJack: $16,541,114

According to that, BitDice alone turned over almost $1m per day over the last 30 days. So I don't find it hard to believe that stat at all. Mind you whenever I look at BitDice nobody's playing at all, so maybe it's not true, idk.

holy shit 29.7 millions, but they only have 1.28 million bets? How is that possible

On the other hand, http://dicesites.com/bitdiceme shows a very different story.
According to the graphs, bitdice has just 100 btc wagered a day on average.

That would be more accurate taking in count they have really low bets overall

is the site list on your website safe? i mean not scam at all?
i know big name site there.

dadice is a good place to invest, you guys can try to gamble or invest there, no registration, just click my signature link to play.

250 sat faucet when your balance is 0, faucet amount is increasing while your level score is increasing.

I am currently level3, I can get 750 sat every time, cool   ;D

We don't vouch for any of the casinos. We have no affiliation with any casino, other than the fact that I (the site owner) have almost 500 BTC invested in Diggit.io.

omg you invested 500 btc in diggit.io? how much your first capital funds? or 500 btc is first capital funds?

I have played on it and the experience is pretty good, but to be honest the site is just too new for me to comfortably invest in it.

Thanks mate :)

Thanks for the link. Casinos will be more open to cryptocurrencies. Fast and anonymous transactions this is it what they want to attract more players.

Im thinking of opening one, the country Im from has lots of online but cash casinos and they pay lots of money to government.