Give it a whirl now - we are still ironing out a few tweaks ahead of the NFL Regular season, apologies for the temporary issue with the lines tonight! whats up boyz. ur preseason nfl lines goes off the board b4 game even starts.
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Looking at the recent stats for August, 97.3% of the withdrawals were instant.There are varying reasons why a withdrawal would not be instant - too many to list, but this business logic on our withdrawal system was enhanced greatly over the course of the last year to identify and minimize fraud. 6 hours.. why does it take so long time with you? usually withdrawals are instant.  |
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Should always be less than 6 hours - PM me or hit up support@casinobitco.in if you haven't received anything with your account name! How often do you process manual withdrawals, it said 6 hours in the withdrawal message and it's already +10 hours...
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mr_e and AnoinL.L.C -> This is fair criticism, so hopefully my response doesn't get lost in translation - if it does, please don't hesitate to reach out to me personally and we can continue chatting. The wheel itself, meaning it's fairness and randomness, was never broke - the defect revolved around users being able to bet more than 1% of the available bankroll. This surfaced in early May and (I agree) its something I wish we identified either before or shortly after the purchase in late February. To say it should come out of management's pockets is not the solution to this though, the equivalent would be for me to say "My team nailed the World Cup last month - that ~+15 BTC we took in should go directly to me and my guys". Goes without saying this is not how you run a business.. CBTC is a company - and unit holders share in the success and failures of the company, we are more than transparent with details and we strive to continue this level of transparency and be more successful. Regarding the buyback / retained profits: Any further acquisition is literally the last on our minds. We clearly have learned a lot with the Peerbet acquisition (see above) and need to really finish upgrading CasinoBitco.in and cleaning up PeerBet before we even consider any other consolidation of the marketplace - but in a few months when we are in a good spot, I wouldn't want us to not take on more opportunities if the situation is ideal. Before our next scheduled dividend (end of Q3), we will find a happy balance between unit buyback as well as the bolstering of the bankroll. Any decision will be properly communicated with all unit holders via the Havelock Update feature as well as our monthly reports. We just as frustrated with the low price as you are - but at the current price point it does seem like a great opportunity for us to start the buyback on the cheap. Because the player is a good, consistent player - and at the time (and even today), I don't believe he knew he was taking advantage of a defect - he was just playing. At the end of the day, we put ourselves in the player's shoes and imagined what it would feel like to hit essentially a jackpot - then not get paid out. The management collectively debated a few options and ultimately we decided it was in our best interests to do right by him and all our players - so we paid him out. "Our biggest expense in July was a 19 BTC payment for a user which won over 30 BTC
playing the PeerBet Wheel with only one spin. As discussed at the time this occurred in May,
there was a defect in the PeerBet application which allowed users to roll and potentially win more
than 1% of the bankroll this defect was addressed shortly after this user won. Worth noting,
while this actually occurred in May; the user that won agreed to be paid out 11 BTC at the time of
the spin, and the remaining BTC to be paid in July"
Why are we paying out for a defect?
All these defects are very concerning... I remember a few months ago where someone on Reddit had been arguing with you about a number of possible defects on the site and your complete denial that there were any. Now it is costing us a lot of money and it seems like they just keep popping up. As a programmer I would love to know how a wheel game - a glorified random number generator - could have such a large hole. I really hope this is the last of it. I have to agree with mr_e on this.. A wheel game is incredibly simple, even with the invest feature. You could have one developed in a ~month from scratch, easy. Most likely 2-3 weeks. CBTC has been in possession of Peerdice/wheel etc for what, 4-5 months now? Thats absolutely ridiculous. The defect should go out of managements paycheck, not having a script checked over before entrusting it with tens of thousands of dollars... I can't even. The share buybacks is good, however the funds being put towards the buyback are also being put towards bigger bankrolls / acquisitions and development? I think the acquisitions should slow down, as the sites currently being operated need to be fixed up first. Why not set aside ~20% of profit to development, and 30% to buybacks? Its very vague to say the least right now. Also, whats the current bankroll across all sites (Bankroll owned by CBTC that is)? Currently the "x" factor for CBTC is how much bankroll it has... The current share price is pretty pitiful. First time I have seen it under $.04 in value (currently at $.03), as well as dip below 5k satoshi. Buybacks can't happen soon enough  |
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This is a good and fair question! We chose this route because the player is a good, consistent player - and at the time (and even today), I don't believe he knew he was taking advantage of a defect - he was just playing. At the end of the day, we put ourselves in the player's shoes and imagined what it would feel like to hit essentially a jackpot - then not get paid out. The management collectively debated a few options and ultimately we decided it was in our best interests to do right by him and all our players - so we paid him out. "Our biggest expense in July was a 19 BTC payment for a user which won over 30 BTC
playing the PeerBet Wheel with only one spin. As discussed at the time this occurred in May,
there was a defect in the PeerBet application which allowed users to roll and potentially win more
than 1% of the bankroll this defect was addressed shortly after this user won. Worth noting,
while this actually occurred in May; the user that won agreed to be paid out 11 BTC at the time of
the spin, and the remaining BTC to be paid in July"
Why are we paying out for a defect?
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This is correct Hello Folks - July report is located here: https://www.havelockinvestments.com/reportdownload.php?id=114There is a lot of good information on the month of July, as well as near-term product developments as we prep for the upcoming NFL Season. Most important is our the new dividend policy so that we can help grow and groom our sites, as well as start a buy-back program for units on Havelock. Full details are in the report; however, two points to sum it up below: 1 - 50% of the profit will be re-invested in the bankroll, unit buybacks, and capital budget necessary for faster development and future acquisitions. 2 - Dividends will be run quarterly, instead of monthly. With a year's experience now, this is a much safer way to operate this business, especially as the variance swings pretty large month to month. We will still be posting monthly reports and P&L statements on a monthly basis so unit holders can stay informed. I can't say that I agree with you holding back some of our dividends in order to buy back shares for yourself... I would rather have my divs so I can buy shares for myself. This doesn't seem right. The bought back shares are destroyed, thereby increasing dividends for the remaining shares. This makes sense when the shares are seen as undervalued |
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Hello Folks - July report is located here: https://www.havelockinvestments.com/reportdownload.php?id=114There is a lot of good information on the month of July, as well as near-term product developments as we prep for the upcoming NFL Season. Most important is our the new dividend policy so that we can help grow and groom our sites, as well as start a buy-back program for units on Havelock. Full details are in the report; however, two points to sum it up below: 1 - 50% of the profit will be re-invested in the bankroll, unit buybacks, and capital budget necessary for faster development and future acquisitions. 2 - Dividends will be run quarterly, instead of monthly. With a year's experience now, this is a much safer way to operate this business, especially as the variance swings pretty large month to month. We will still be posting monthly reports and P&L statements on a monthly basis so unit holders can stay informed. |
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Done - my bad! @casinobitco.in I do not have the ability to delete your advertisement, but you do... Advertising is politely asked to be left off this thread.
Thanks
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Rock on! First few weeks are the toughest  Hey Peep - Feel free to remove this if necessary, but we're looking to get max exposure on our upcoming Survivor Pool on CasinoBitco.in. We did this last year with around 200 users, and even pair out over $4,000 to the winner in the FREE pool (due to the gigantic rise of BTC / USD price). Check them out here! https://casinobitco.in/suicide-pool• The object of the Survivor pool is to be the last active player • In order to accomplish this goal, a user must correctly pick the winner of one NFL football game each week • Each user can only pick each NFL football team once during the season • If a correct selection is made, the user will remain active for the following week • One (1) incorrect selections (loss) and that user will be eliminated • No point spreads are used. The team just has to win • The last user remaining wins the entire pool! I'm glad you posted it. This is a fun contest and I was in it last year. Casinobitcoin has three different pools. One is free, one costs .05 BTC and the other .10 BTC. I'll be in all 3 pools picking different teams so I don't get knocked out all in one week. |
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Hey Peep - Feel free to remove this if necessary, but we're looking to get max exposure on our upcoming Survivor Pool on CasinoBitco.in. We did this last year with around 200 users, and even pair out over $4,000 to the winner in the FREE pool (due to the gigantic rise of BTC / USD price). Check them out here! https://casinobitco.in/suicide-pool• The object of the Survivor pool is to be the last active player • In order to accomplish this goal, a user must correctly pick the winner of one NFL football game each week • Each user can only pick each NFL football team once during the season • If a correct selection is made, the user will remain active for the following week • One (1) incorrect selections (loss) and that user will be eliminated • No point spreads are used. The team just has to win • The last user remaining wins the entire pool! |
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Give it a shot now.. notably are limits for the preseason are low; however, we expect to take up to 10 BTC per wager in during the regular season! these limits are zero. they're actually zero for all of football. can you please check? |
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We will publish our full July report on Havelock, and link it here by Tuesday August 5th. Hi Folks - Good conversation / debate in here. We will have some comprehensive feedback on share buy-back, and divs, early next week!
Did you mean this week or first week of August? |
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