Could you refer to any legitimate links regulating the ICOs to prove your statement?

There are dozens of successfully run ICOs with a similar dividend structure. We believe it depends on the jurisdiction. And to be clear on that, we do not accept funds from the US residents, which is a sort of an ICO standard policy.   

Our Second Blog Post:

Exposure to CSNO token: everything you need to know about it.


This post extends over BitDice Casino’s token structure, its applicability, and derivative implication.

Many of our users and bankroll investors have to deal with different cryptocurrency names when they interact with BitDice Casino. All of you, certainly, have preferences to what cryptocurrency to stick to while committing your coins to bankroll. The idea is here straightforward — you want to capitalize on your bankroll investments in couple with a long-term appreciation of invested currency against fiat.

With introduction of CSNO token, many have raised questions attempting to understand how their CSNO exposure will do after converting to the new business model.
Below we illustrate in detail how your exposure will change from the moment of converting your cryptocurrency into the token, and up to the moment of receiving your dividend share.

Converting to CSNO during the course of the ICO campaign:
Once you made up your mind to participate in BitDice Casino’s ICO, you will get the option to contribute BTC, LTC, ETH or DOGE to the specified wallet addresses. For the sake of simplicity, let us assume you decided to buy Tokens for bitcoins and you contributed 100 BTC to do that.

From the moment you sent your 100 BTC to the corresponding address, you will be waiting for the ICO campaign to end in order to get your exact allocation of CSNO tokens. Assume by the end of the ICO all wallets will show balances:



To get the sense of how much we raised in USD total, we get the equivalent of those amounts in USD value at the cut-off moment.

Let us further assume that at the cut-off moment, we determine:



Effectively, in USD value we get these figures:



Given this distribution of wallets, we are able to calculate exact ratio of each contributed wallet:



As a result, your 100 BTC contribution will account for 100/3000*0,417*0,68 = 0,009452 or 0,9452% share of outstanding tokens or 945 200 CSNO tokens.



BitDice Casino’s Performance

After the ICO is over and all the participants have received their tokens, BitDice will shift its focus back to operations in fulfilling the objectives set out before. Periodically, we will publish updates about reaching certain milestones and will announce important news.
 
Each quarter BitDice will declare profit sharing for the accounting period. It will combine all the revenue-generating channels, i.e. all the games played in different cryptocurrencies as well as those played with fiat currencies when the integration of a licensed arm of the BitDice Casino is successfully finished.

In simple terms, the revenue base of the BitDice Casino will be diverse, which should be a good thing for players seeking diversification of revenue streams. Instead of being exposed to one single currency, the profit sharing will come from different sources and different currencies.

At the end of each quarter, we will sum up profits from all the channels and convert them into ETH for further profit sharing distribution via the Ethereum Smart Contract.

To illustrate how normally dividend sharing will work, let us assume that BitDice Casino has earned net quarterly profits in the following currencies:



Let us further assume that at the end of the quarter we determine that:



Effectively, in USD value the profit will be look as:



The investor who contributed 100 BTC and possesses 945 200 CSNO tokens will effectively receive 160,99 ETH for his entire CSNO holding.

One should note that the exposure to ETH as a currency of dividend distribution is very short-term. Once the dividend payment has landed onto your ETH wallet, you have the freedom to manage your ETH exposure the way you like it.

It is expected that with time the source of the revenue and hence profit will get more diversified as more games with different currencies will be added.

Website: https://ico.bitdice.me
Casino: https://www.bitdice.me
Prospectus: https://ico.bitdice.me/prospectus_en.pdf
Slack Invite: https://slack.bitdice.me
Twitter: https://twitter.com/bitdice
Email: contact@bitdice.me


Regards,
Alex.

That's okay. It is a common misconception about casinos on smart-contracts.

Check vDice - https://www.vdice.io/ - they hide wagered volume and net profit, but show number of bets - only 55,537 bets
Another casino Etheroll - http://www.cryptocurrencychart.com/etheroll-live-stats/USD - their users wagered 91,841 Ethereum with 49.000 BETS

What's more important is that their users PAID  58,437 USD in COMMISSIONS to play the game. It's more than 1 USD per bet.

All Ethereum casinos combined is about 1% of the Bitcoin casino volumes. Bitcoin volume is only about 5% of the whole online gambling market.

Regular players do not care about smartcontracts, they will not install special browser, special plugin and remember some special seed to play.

That's why BitDice is targeting FIAT players, rather then concentrate on smart-contract games.


PS: Sorry for the previous post, it's Edgeless who lost all funds and not Etheroll.

Regards,
Alex.

Unfortunately, that's a huge misunderstanding.  

Crypto market is less than 5% of the global fiat market. You can see how so-called huge ICOs that have some traction now performed. Like vDice, Etheroll and Edgeless (who by the way lost all funds yesterday with parity exploit). vDice has 50.000 bets, etherol has 90.000 ETH wagered. On BitDice players made several million bets and wagered more than 300.000 ETH for the same period.

Casinos on smart contracts have a huge drawback. Only BitDice Casino now targeting a fiat casino market with a market size 20x times bigger than crypto.

Regards,
Alex

I would say it pretty much depends on the underlying agenda and the task a particular ICO is trying to solve.

BitDice Casino is also running the ICO campaign, but we face it quite differently. There are opportunities for the ICO investors that bankroll investors would have never had. Have a closer look at BitDice to spot the difference.

BetKing's model does not really differentiate the debt vs equity structure in going public. We do.

Risk of HF is very low. In case it will happen, we will handle it as the most convenient way for our investors and players. No need to worry.

Regards,
Alex.

Hey,

Currently, we stick to ETH, BTC, LTC, DOGE. We might review this prior to ICO, but can not promise anything.

Regards,
Alex

It would be hard for us to get an immediate access to the biggest exchanges due to the nature of our business. We should prove our commitment and have legal structure before applying for listing.

It will depend on whether we succeed in raising the sufficient amount of capital.  Before that, we expect our tokens be traded on other less regulated exchanges and we'll keep you informed about the progress of its admission

Our First Blog Post:

Why is BitDice Shutting Down its Current Investor Program and Running the ICO Instead?

BitDice was launched in 2014, and was the first cryptocurrency casino to be incorporated in Costa Rica. The company implemented an investment program that was simple, flexible and easy to administer. It generated a lucrative Return on Investment (ROI); however, it was restrictive and used only for capitalizing the house bankroll. BitDice was focused on providing players and investors with a good rate of return, and there wasn’t a lot of room for growth.

Paying Debt Rather than Building Equity
To put the concept in financial terms, the form of investment we had over the years was paying out a debt rather than building equity. This situation meant that BitDice was limited in its ability to expand into new markets and develop new products. The company has not had the financial means to support these measures. Investors were enjoying the benefits of sustained profitability, while BitDice has retained just enough to keep the doors open. The situation required a change.

Our New Offer to Investors
Today, we are giving investors an alternative to maintaining the status quo. You have the opportunity to become entrepreneurs, like us. We understand that for some of you, this opportunity will carry a higher level of risk that may be beyond your regular investment profile. Before you make a decision, kindly look over the details of our offer. Higher risk also carries a greater opportunity for reward.

The Initial Coin Offering (ICO)
For those of you who are not familiar, an ICO is an event used to raise money for operations like ours. The company launching the ICO announces it and collects funds in various cryptocurrencies. When the ICO is completed, the tokens are listed on cryptocurrency exchanges to trade against other crytptocurrencies. The price will change depending on market conditions, news about the project and new features added.

BitDice ICO
Once our ICO is completed, we will have the necessary capital to make changes and improvements to grow the business. All of them are aimed at boosting the ROI over the long term and will help us achieve the following:

• Improve management of in-house bankroll in multiple crypto currencies
• Increase IT staff with goal of improving game technology
• Expand into the lucrative online USD market
• Improve communications with token holders
• Increase company marketing exposure through feedback loop and secondary markets
• Distribute 70 percent of company profit to token holders

The value of the token will be fundamentally driven. It will directly depend on BitDice Casino’s performance. We expect, and our goal is, that sustainable growth in profits will make BitDice Casino tokens an excellent tool for accumulation of wealth. The recognition and the attractiveness of this instrument will combine to secure its high liquidity on the secondary market and serve to keep its value high.

Regards,
Alex.

Thanks and welcome aboard.

We've updated the website with new social links and some nice animations. More news coming this week.

Regards,
Alex.

Nope, we only allow current investors to join the closed pre-sale and receive an extra 5% bonus.

Regards,
Alex.

Yeah, we are aware of this problem. We have almost two months for them to support this format. We remain the right to downgrade to ERC20 in case we will see low adoption among exchanges closer to the distribution date.

Regards,
Alex.

Yeah, sorry for a type, it's ERC223.

The difference between ERC20 and ERC223 is that:

• With ERC20 you could send other ERC20 tokens to contract and they would be lost. It has been fixed with ERC223
• Gas fee on the ERC223 is twice less comparing to ERC20
• ERC223 also backward compatible with ERC20 tokens.

Regards,
Alex

Should have added probably more to highlight why we are different:

All recently run Gambling ICOs have focused entirely on the cryptocurrency market, and this market is just a tiny percentage of the whole online gambling industry. The place gets really crowded since the "entry ticket" is low. No regulation required, relatively small financial resources needed to have a start.

BitDice recognizes that transition of fiat gamblers to crypto will take a long path and we are not willing stay passive in that regard. So rather than sit and wait for the new clients to adopt crypto, we are making the FIRST step towards fiat players and give them the value proposition, which I mentioned in previous message.

To our best knowledge, there is no other player on the market, who would consider integrating both worlds by taking the best from each of them.

Regards,
Alex

   

We'll get the advantage in bringing and introducing the "provably fair" concept to fiat player in conventional online casinos.

Very few actually know about this and it will boost their confidence and trust with us.

Furthermore, margins in fiat casinos are way much higher, there is plenty of room to squeeze in and stay attractive. Plus reasonable marketing will do the trick.

We have been in the gambling industry for a long time and we know how things are really working behind the scene. We're  targeting fiat casinos because it is a great value added.

Regards,
Alex

   

The concept is well described in our Prospectus. I suggest everyone spending few minutes to look through...

We will highlight main points in the topic shortly... But to keep it simple for a moment, BitDice is entering a fiat online casino market worth USD 50 billion. Just to draw the comparison here, the cryptocurrency gambling amounts to just a 5% fraction of that market.

Regards,
Alex

Hey Guys,

After several months of preparation and work we are finally ready to announce BitDice's ICO.

Please join the Slack and the ICO thread.

Regards,
Alex.

Hello,

Yes, there's gonna be a bounty thread soon, our community manager will handle it.

Regards,
Alex.

Firstly, you cannot call an unknown reviewer\editor an "independent researcher"

Secondly, the research compares the old-type gambling business of 1998 with no mentioning of the new-school cryptocurrency casinos that proliferated big time since then.

We should skip that part of the story where anybody with a related background admits that using random.org through Oracalize is not that "safe" and "true"  RNG source. Do some in-depth research to find out why.

Next, the innovation part:

- Crowdfunded casinos are not new/innovative anymore... They were few years back.

- Cost advantage is highly doubtful argument. Transaction fees remain high for small wager and in many instances make betting economically meaningless

- Practically impossible to conduct marketing layer on top of the contract, which means you need to adjust it constantly

Then you've got a bunch of legal issues as a bonus problem

You do not mention the current players who share the biggest portion of the gambling crypto market, such as PrimeDice, BitDice, Just-Dice and others.

And, most importantly, your research misses any sort of forecasting model to give us a range of numbers we need to see: revenue, costs, cash flows, etc

Hence I'm asking again where did you get this 30X return in 6 month from?

Regards,
Alex