Lets face it, there are too many btc poker sites, and everyone is at a loss on how to innovate.

Here is an answer/opportunity that is already being used (so I've heard) by a few obscure sites. And I think it is an idea could drive high stakes cash play.

That is, a site should have insurance on offer to players that are 'all-in.' Insurance sells at a modest mark-up - it is a built-in profit center for the house, and is valued by players who can use it to smooth out their results.

Personally I have strong preference to play games that have insurance on offer - it allows me to play higher stakes and damper the inevitable bad runs.

I know in China live poker games insurance is always on offer, and I've heard that some Chinese online sites also offer insurance to its players. It would require a modest amount of programming, and some familiarization for players who have not used insurance in the past. Anyway insurance is never mandatory for players. In fact, if a site generates good revenue from insurance, perhaps they don't have to charge rake, so in that way cash players have an even greater incentive to play.

I would play at such a site ... who's going to bring it?

While the real world has kept me busy a bit these couple days, every time I've checked into Luckyflop there has been some action available on the ring games. Clearly people are playing in order to collect 'lucky points,' which allow entry to the larger freerolls running throughout the day. This afternoon I used a few of my points to play in a 10 chip freeroll that paid out 3 places and had only 7 people play. Well, it was actually closer to six, if memory serves, because someone just kept shoving early in order to triple up or go home, and they were sent packing right quick. So this is my go-to spot for some quick ring action, often when I just have 20 minutes or so in between other commitments and such ...

Also, I could be wrong, but I think I spotted a weak bot sitting low-stakes from time to time. The bots I've run into tend to play weak-tight, and one can just hammer them all day on a short-handed table. Anyway, I could be wrong, but this one was consistently donking chips, and not just to me. Have yourself a run at the tables, come back and tell us if you think you spotted the player I'm talking about ...

That doesn't add anything, and I think you know that. Shame on you.

Coinut should add more digits to the bid/ask prices in order to give customers an accurate indication of contracts at the best bid/ask, instead of allowing market makers to game customer orders. Hmmm, maybe Coinut is the market maker ... that would make sense.

Look at your own online stats and you will know when is most convenient for everyone. I'm happy to play the larger stakes, but I have a strong preference for a full or near-full table. How we get there I am not sure. Getting HU or 3-way just becomes very volatile. Most any table of six or more players, I will sit.


When I was playing in China, all the cardrooms in a particular city compete for the same pool of players. If everyone show up at Room A, then Room C might not have a game that night. So often certain rooms will text everybody: 'First three players to show get 10 Big Blinds to play.' Of course if you show up at an underground poker room in China and take free money, you're gonna sit for a couple hours at least, as a courtesy to get the game going. Otherwise you might piss somebody off ... lol. I don't know what the online equivalent would be.

Previously I suggested you recruit a 'pro' like plo8monster who is prepared to sit all day, all stakes, at your cash (ring) tables. You might think about that again and start casting around for someone. I know at one point Satoshi Poker had 3 pros who were staked by admin. Then, two of them purposefully donked their chips to friends so it didn't quite work out. But there are ways to make it work I think ...

You are describing a covered call, and yes, you can sell calls at Coinut against your deposited btc.

Do your own research, there is lots of information on the web about writing covered calls. And then start
by placing only a small position, so that you can see/experience firsthand how the position works its way to expiration.

On the web interface I only see 'Amount Bid Strike Ask Amount'

I've been on this for ~20 hrs and I don't see any parsing of the 'Amount' figures ...

What 'best bid' are you referring to?

Be careful Bigfish (Luckyflop Admin): The btc poker community has gotten so used to handouts and freebies that once you dangle something you'll never hear the end of it.

Anyway I'm more a broads 'n blow kinda guy, at least my imaginary online persona ... lol, so we'll take a pass on the pizza.

It is a misrepresentation, in my view. Right now it shows 746 of the 236 strike near contracts bid at .009 btc, but you can only sell about 10 contract at that price.

Lets just call it what it is: dishonest.

Well, if customers need to parse the API to get an accurate view of the order book then Coinut has lost 98% of its target market. Market makers specifically do this to game customer orders.

On a related note, Coinut needs to use a third party index, because their short-term calculations underlying the 30-minute contracts are ridiculously errant.

I've taken a 10-day position, and I'll probably be here for a bit, but I wouldn't (yet) recommend Coinut to others ...

Website isn't loading properly for me.

"Balance," "Margin," and "Free Margin" are in a perpetual 'loading' state, and there are no quotes for the near-term contracts.

Uh, ok my balances are back, but quotes on near contracts are absent ... hmmm.

Buyer beware, we are still in Beta ...

I've spent many hours on the Bitcoinpoker.gg site and don't recall any connectivity issues ...

Ok, gotta beware here, because it appears the market makers play games. (Lol, that sounds funny, right? Its like discovering that politicians lie ...)

OP: What is going on here?

there is a bid for ~400 contracts at a stated price - lets say .00355.

I post a Sell Limit order for 50 contracts at .0035

I get filled 10 contracts at .00355

And I'm left with an open order for the remaining 40 while the bid has been pulled back to, let's say .00335.

It is like they are gaming my orders. That is not cool ...

Yeah, it didn't trigger ... that was odd ... wish I had taken a screenshot. Anyway, I've made another deposit and I'll be on the site a bit. If I see it again I'll definitely take a screenshot right way ...

Let me rephrase: It seems to be very difficult to get bitcoin collectors to actually play poker ...

As outlandish as it sounds, somehow I think you'd find a way ...

I'm just happy to have a regular game. :-)

I'm a dye-in-the-wool degen poker player. Don't blame this site for my downfall ... lol.

Interesting, I put on the same trade again, newest contract, and somebody narrowed the buy/sell spread dramatically.

The bid was higher than the ask ... no kidding. I was just about to take a screenshot when it disappeared. Must be multiple market makers. The opportunity wasn't huge, not sure if it would have exceeded trading costs ...

maybe OP could should shed some light on who / how many entities are making markets?

OK, 22.8% profit in about 30 minutes, lol. That was fun ... 

Hi, what do you mean by 'vertical order book' ?

I set up my Coinut account a couple days ago, not sure what link I used ... sorry.

Ok, I just made my first trade, and did the exact opposite of what I said I would do. Guess I am a gambler ... lol.

Sold some calls with a 237 strike, expiring in about 21 minutes ... lol, we'll see how it goes. I'm thinking whoever sold btc down a couple hours ago likely isn't done. Or more precisely, that is what I'm thinking everybody else is thinking. Twenty percent return in thirty minutes would be nice ... :-)

Famous last words ...