(...) A good idea too for remotivate players because a lot have gone recently, see ltc players.... is to payback 25% or 50% of the price bomb when exploding as a consolation prize I've fate on you ! Already bought 2000 visits on bitvisitor and 2000 visits on honeybitcoin advertising  I'd rather choose the idea of using the funds to increase the jackpot for future bigger prizes instead of returning them as consolation prizes. I guess that's better for gamblers and so it is for the house. |
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"that pays whom holds"
I don't understand. (...)
Let me try to explain it a little bit more: I just suggested a kind of bomb that you get paid the value accumulated in jackpot only when the bomb explodes (countdown times up) and you are the last holding it. Example of reverse coinbomb (10% Interest & 1.25x Multiplier & 1 BTC Jackpot): 1) McCartney first buys the bomb for 0.1 BTC; 2) Lennon buys the bomb (before 24h countdown) for 0.125 BTC (McCartney gets paid back 0.11 BTC); 3) Harrison buys the bomb (before 24h countdown) for 0.15625 BTC (Lennon gets paid back 0.1375 BTC); 4) Starr buys the bomb (before 24h countdown) for 0.1953125 BTC (Harrison gets paid back 0.171875 BTC); 5) Ozzy buys the bomb (before 24h countdown) for 0.244140625 BTC (Starr gets paid back 0.21484375 BTC); 6) 24h countdown finishes without any additional purchase and the bomb explodes. Ozzy wins the jackpot prize of 1 BTC or + (there could be a progressive jackpot that increases itself with every additional buy)! That's it! |
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It really smells like teen SCAM spirit... LOL
About 99% probability...
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Suggestion: Why not creating an weekly bomb that pays the gambler that holds it at the moment of explosion?
Sure that bomb is gonna increase its value fast because everyone will wanna hold it until countdown (24h) finishes.
I think that bomb could be funded with some jackpot resources and nobody ever tried that innovation before.
It might be an idea worth testing (a reverse hot-potato game), don't you think?
Cheers!
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How's the development of the "Zero House Edge Poker" project doing?
Unfortunately development and operation costs of poker room are too high to be covered exclusively with ads, however it can change when Bitcoin economy will grow enough. I hope for that day to come soon. Count on me in order to help or support the project. Best regards! |
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Congratulations and thanks for the well done tutorial.
Cheers!
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The thing is that the Martingale strategy with the 50% bets is basically identical to repeatedly playing the 85-97% winning odds bets with the amount of Bitcoin that you would risk at maximum with your Martingale strategy.
That's interesting. I looked into this, and found a surprising result: If I bet on "lessthan 8000", and keep increasing my bet each time I lose such that my overall profit when I win is constant, and commit to making 19 bets if necessary, I am effectively placing a large bet on "lessthan 60012.5": >>> (1-(1-8000/65536.0)**19)*65536
60012.49314412828
That's a little easier to win than "lessthan 60000", which pays out 1.071x. Since I'm placing multiple bets, and getting a slightly easier-to-win bet than "lessthan 60000", you would expect my payout in the event of a win to be a little less than 1.071x, but it's actually a little higher: win on turn 1 : bet = 18.34444122, spent = 18.34494122, win = 146.76222078, lose = 0.09122220, back = 0.00000000, profit = 128.41727956 (87.793% to lose all)
win on turn 2 : bet = 20.95186542, spent = 39.29730664, win = 167.62263649, lose = 0.10425932, back = 0.09122220, profit = 128.41655205 (77.076% to lose all)
win on turn 3 : bet = 23.92990113, spent = 63.22770777, win = 191.44808952, lose = 0.11914950, back = 0.19548152, profit = 128.41586327 (67.667% to lose all)
win on turn 4 : bet = 27.33122595, spent = 90.55943371, win = 218.66002143, lose = 0.13615612, back = 0.31463102, profit = 128.41521874 (59.407% to lose all)
win on turn 5 : bet = 31.21600495, spent = 121.77593866, win = 249.73977624, lose = 0.15558002, back = 0.45078714, profit = 128.41462472 (52.155% to lose all)
win on turn 6 : bet = 35.65295485, spent = 157.42939351, win = 285.23711477, lose = 0.17776477, back = 0.60636716, profit = 128.41408842 (45.789% to lose all)
win on turn 7 : bet = 40.72055959, spent = 198.15045311, win = 325.77993920, lose = 0.20310279, back = 0.78413193, profit = 128.41361802 (40.199% to lose all)
win on turn 8 : bet = 46.50845857, spent = 244.65941167, win = 372.08539985, lose = 0.23204229, back = 0.98723472, profit = 128.41322290 (35.292% to lose all)
win on turn 9 : bet = 53.11903225, spent = 297.77894393, win = 424.97258068, lose = 0.26509516, back = 1.21927701, profit = 128.41291376 (30.984% to lose all)
win on turn 10 : bet = 60.66921318, spent = 358.44865710, win = 485.37698775, lose = 0.30284606, back = 1.48437217, profit = 128.41270282 (27.202% to lose all)
win on turn 11 : bet = 69.29255432, spent = 427.74171142, win = 554.36709722, lose = 0.34596277, back = 1.78721823, profit = 128.41260403 (23.881% to lose all)
win on turn 12 : bet = 79.14159147, spent = 506.88380289, win = 633.16325523, lose = 0.39520795, back = 2.13318100, profit = 128.41263334 (20.966% to lose all)
win on turn 13 : bet = 90.39054140, spent = 597.27484429, win = 723.15926428, lose = 0.45145270, back = 2.52838895, profit = 128.41280894 (18.407% to lose all)
win on turn 14 : bet = 103.23838355, spent = 700.51372784, win = 825.94703784, lose = 0.51569191, back = 2.97984165, profit = 128.41315165 (16.160% to lose all)
win on turn 15 : bet = 117.91237969, spent = 818.42660753, win = 943.34475917, lose = 0.58906189, back = 3.49553356, profit = 128.41368520 (14.187% to lose all)
win on turn 16 : bet = 134.67209391, spent = 953.09920144, win = 1077.42904272, lose = 0.67286046, back = 4.08459545, profit = 128.41443673 (12.455% to lose all)
win on turn 17 : bet = 153.81398395, spent = 1106.91368539, win = 1230.57166670, lose = 0.76856991, back = 4.75745591, profit = 128.41543722 (10.935% to lose all)
win on turn 18 : bet = 175.67664520, spent = 1282.59083059, win = 1405.48152682, lose = 0.87788322, back = 5.52602582, profit = 128.41672205 ( 9.600% to lose all)
win on turn 19 : bet = 200.64679995, spent = 1483.23813054, win = 1605.25255315, lose = 1.00273399, back = 6.40390904, profit = 128.41833165 ( 8.428% to lose all)
I'm risking 1483.23813054 BTC in total, to win 128.41 BTC. That's a payout of 1.0866x: >>> 128.41833165 / 1483.23813054 + 1
1.0865797129981056
How can it be that committing to 19 "lessthan 8000" bets gets me a bigger chance of winning than placing a single "lessthan 60000" bet, but at the same time gets me a higher payout multiplier, as well as a bigger effective "max bet" (it's not possible to bet 1483 BTC on "lessthan 60000" directly, but using Martingale betting I can effectively do just that). tldr: Using Martingale betting it seems to be possible to effectively bet far more than the maximum bet, increase your chances of winning, and increase the payout multipler too - Win/Win/Win. Is there a flaw in my reasoning here? Sorry for the topic resurrection after 5 months... But the above observation is interesting. Even though betting < 8000 continues to be -EV... BTW, that's an intriguing issue. And it seems to be a lesser dangerous approach than traditional martingale strategy. Did you come to a conclusion about your previous doubts? Did anyone else think about it? |
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@giantdragon
How's the development of the "Zero House Edge Poker" project doing?
I wish that project get as much success as Peerbet!
And the business model that profits from ads, such as google, also works as well for you.
Cheers!
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Thank you for the explanation.
Cheers!
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BTC is the most used, so it's the one to be suggested.
Every other alt coin is just noise yet.
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(...) Apart from that, I heard about a winning system on roulette which is statistically proven. Also Baccarat is a very good game to make money on. (...)
What is the name of that system? Martingale?  LOL |
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Nice raffle site.
I'd suggest that you just give prizes for the 1st winner while jackpot is < BTC 1.0
If it's > BTC 1.0 then prizes should also go to 2nd and 3rd...
Is there any plan in turning the lottery provably fair?
Cheers!
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I just won a game but wasn't paid out. The payment transaction is "oops..."  Hey this provable fairness stuff isn't actually fair! I was expected to earn coins with this, not lose them!  $ bitcoind getbalance
0.34425772 I'm sending some funds to the wallet as I type this. Edit: done! Nice original game! BTW, would you mind adding a table with the odds involved in the game on that site? Cheers! |
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I'd like to suggest the implementation of some daily raffle games whose draw system could be based on that roulette/clock of yours, as long as it would be provably fair and that mandatorily there'd be at least one winner per raffle.
Tip: 13% of bets could also be used to fill next raffles' jackpot.
Success to you!
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The expected (profit) return are not that easy to estimate because of the variables involved.
Isn't there any way to add that estimation of profit at the moment the player is about to bet?
P.s.: I'm just trying to simulate some expected value possibilities...
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Thank you for the explanation. But I guess it's not so +EV in order to get in... |
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Dear Dabs,
Is that amount of BTC shown above as jackpot the 83.33% portion, or the whole 100% portion (with next round 16.67% included)?
Cheers.
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I don't understand how to play  I have to apologize for the lack of information. Assuming you already went through http://taabl.net/howtoplay let me tell you that playing is much MUCH simpler than understanding the how to - Elect your game(s), from Pick 2 to Pick 5 (the number after the Pick is the number of characters that will be matched, the larger this number the less likely it is to match with the next block). - Place your bet(s) - careful not to use web wallets where you don't control the addresses and private keys, as the wins will be paid back to the address you sent from. - After two confirmations the bet is added to the Pick, you can see which is yours by looking for your payment transaction hash. - When the pick matches, a winner is found. The winner gets the pot, all others get a few satoshis (same number as the Pick) to signal the pick has ended. I'll be glad to go into detail on any part of the workflow, just let me know what your exact questions are. I'm also having some hard time in order to understand this game. I'm unable to figure it out what the odds involved in this game are. BTW would you mind creating one more column in order to add the odds for each PICK? (And one else adding the players already in). Or, at least, that kind of info might be included in the "how to play" section... |
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Hopefully this game catches on a little more, its fun but the site needs more traffic... www.coinbomb.comThat's also why I suggested 2 bombs (10% & 15%) for BTC and 2 for LTC while there's still few traffic around... |
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Hello Dude.
I'd like to give you some suggestions in order to improve the bussiness:
1) Why not setting only 2 Group Bombs (BTC: Powder & C4 - LTC: Dirty & Nitro)?
That way you could concentrate more potential customers in few "shareholders pools" and make the money flow faster so gamblers would also cooperate converging their resources bringing more leverage for all participants.
2) The remaining bomb in each cryptocurrency type could be used eventually as MIRVs bombs or any other type of bonuses: they're the second best original feature available at the website.
With that in mind there won't be so many resets so soon.
Nice job and congratulations for your effort in bringing original and inovative features to the old school hot potato game.
Keep up the inovation!
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