I think I will give it a try. do you have any feedback on the cost of player acquisition? I would be interested to know so we could determine if it would be feasible for us.

Also, if you had 50% commission on our bitcoin casino would you be interested in being an affiliate? If not, cool. We will still try to test our your advertising campaign. I'll post results.

They will not allow an account under the Malta name, but my personal name only. This means that I have the tax obligation, and not the company. This causes me to comingle funds that should be exclusively for the business.


That's a great idea. I  will check them out.

I need to find a bitcoin exchange that will work from a Malta company. Anyone have any leads?
Coinfloor and coinbase will not allow it. Anyone else have any ideas?

I agree. It is nice to try out the games. Especially if you are depositing credit cards. You have to fulfill the KYC . Btc is much faster and easier. If you do not like it, withdraw the funds and go else where. Our site http://www.betbit.com has a free money option for the online slots. The live dealer games are not available for free money. Why? software provider made that call.  The is an Auto Expo live roulette that is available for free money bets.

Hey Guys, anyone make any money as an affiliate in the signature link? I would be interested in knowing. I checked our their affiliate and the terms and commission look good. I like the no negative carry over.

Firstly, excellent site. Congratulations on your success. From an operator of a new crypto casino what has been your most challenging aspects of launching your brand? I see you mentioned you banned over 300 players. What criteria did you use to ban them? did you lose money? What have been your greatest challenges?

I have been in the online gaming business for more than 10 years. One thing I know for certain is that there is no need for the casinos to cheat you. The house edge guarantees long term profitability. I've seen super lucky players and unlucky ones. Players who run up the balance to 30-40k or more happens often. The opposite it true.

Any bias for or against the player can be exploited. That's why fairness is so important. Any deviation means the players can exploit the system.

I'm new to the bitcoin forum, and have limited experience with Btc commerce. I will say I am always surprised to see threads like this one. Why are there so many shady deals like this? There has to be 2 possibilities.
(1) Some people with bitcoin really do want to give their funds away for free. (ill gotten?)
(2) There are lot's of gullible people who sustain the fraud.

A general rule of thumb: If it is too good to be true then is is.

My first thought was why use btc.. but then I read your post and see that I agree with you 100%. You wouldn't want them to know your personal details.

Can you please help me understand what you mean by "75% of the item's price."?

Let's say you buy an item for $100. Do you charge the bitcointalk.org forum member $75? If so, why would you want to do that?

I'm not judging, just trying to understand the business model and motivation. Thanks!

It is inevitable that any bank that will convert your Btc to fiat will need to abide by their regulatory jurisdictions. In this case, KYC documents will need to be done. They will want to confirm your identity, confirm the source of the funds and why you are receiving them. Especially a publicly traded US company.

Yea, you had this coming. Good luck, and please let us know how it went.

Now that bitcoin is easily exchanged for fiat currency I think that 1% is too high. I've seen so many Ponzi schemes repackaged to disguise their true nature. The last one I noticed was a "gofundme" type of website. Here's how it worked. A new client would pick a charity (usually, not for a charity, but for an actual person) and send bitcoins to that btc address. You do that to 2 charities. Then you get your own "charity" and convince others to send funds. A classic example of Ponzi scheme. They advertise that upper level tiers are earning 50k a month. Of coarse right?

lol probably from some sweaty dude in an internet cafe in Nigeria. lol.. You would have better odds if you played the lottery.
I bet there are some lonely guys out there that sustain those emails.

IMO, You don't want the house edge to be zero. You have to have some percentage for the game sponsors. If not there would be no impetus for game development. How would build the games?

I think the real saving in bitcoin is not the change of the house edge on the games, but the speed and efficiency of using bitcoin over the conventional fiat currencies. Also, they shiuld give you more bonuses due to less operating costs on their side.

Here's why chirag did it. Because this thread is a few years old it has more link value for him with his link on it as opposed to in his profile.

That's a good question. If seems that if the operator of the casino is a veteran they would not want many outside investors. I think the best case scenario is a partnership in the form of being an affiliate. That may mean too much work for some.

It does sound romantic having a share in a bitcoin casino though. Has anyone else done this?

Hello saltybrains,
I do think that the cashier process for allcoincasino.com is revolutionary compared to the conventional visa and mastercard deposit methods. I think the instant withdraws are going to be well received. What we noticed with betbit.com is that the technological threshold for the average user is still pretty high. Hopefully, as the technology progresses it will get easier for the average person.

About Ethereum, yes, it does sound like this has promise for making contracts etc, but the best thing I like is that coinbase.com exchanges Ethereum pretty quickly.
Cheers

When bitcoin first hit 160/Btc I had 60GH/s ASIC miner. At the time it cost about $1200. I made my money back in 45 days. I sold the bitcoins to recuperate the investment and let the machine mine until the cost of electricity costs more that the value of the mining. I made another $1000 throughout the next 4 months. Each month it kept going down.

Looking back, if I purchased the bitcoins outright, and held I would have made more. The experience was worth it. I learned a lot and do not regret it. realize that there are risks. Down time and failure will certainly top the scales. I also didn't like the noise and heat.

I think it depends on the person, if that makes any sense.

I agree, but half of the people you see are below average.

This casino has been closed. Betbit.com is no longer considered a reputable casino. I no longer recommend it.