Good to see it pick up again!

The minimum bet is also very high. I know when I first started getting into these games 1 BTC was either far more than I had available, or would result in all my money being gone.

Don't forget that the last player gets the remaining pot balance

Good to see this is a lot more popular now

Sites like Amazon and Newegg have affiliate programs which offer a certain percentage of the sales that come through the affiliate's links. By using the spendbitcoins links, part of your purchase amount goes to them, which likely would greatly make up for any decrease in value through exchanges and any transaction fees.


I've been meaning to try it out with my coins but haven't gotten around to it yet, good to hear they run a good service

I was waiting for it to reset, am in the game now   For some people the high minimum bet might put them off.

That's what he just said. He's questioning how it can be a 4X payout if the odds are actually 50/50, because that would mean the house would be losing a significant amount of money. Therefore, the odds can't be 50/50 or the house would go broke, they must be worse.

No, I'm not referring to Round 4, I'm referring to Round 3. Round 3 does not have a jackpot, and I'm taking into account the 3% fee. Payouts have always been immediate after a deposit.

Edit: And there it goes with a newer bet, must have been very close.

What is the pot at currently? My spreadsheet says there is just enough to pay out, but it hasn't yet.

Free, since they're being handed out left and right on places like reddit: http://www.reddit.com/r/googleplusinvites

There is 222 total deposited. The operator takes a 3% fee, so after fees there is 216 deposited that can be used to pay people out. Of that, about 213 has been paid out, leaving 2.75 in the pot.  Where it seems you're getting confused is the same place someone was earlier in this thread by assuming the game started with the last person that was paid out.

Lets start a fake game with 0% fees.

Deposit	Paid
10	12
10	12
10	12
2	2.4
2	2.4
2	2.4
2	2.4
2
2
2
2

According to you there is more than enough to pay the next person off, but in reality there is less. This is because when a deposit is paid out, that much comes out PLUS another 20%! In order to get paid out, someone has to add that extra amount. BUT, this extra 20% "debt" keeps adding up as more deposits come in. So even though someone has been paid out, that debt still exists.

In the example given, when the second person deposits their 10 BTC, there is 8 BTC left in the pot, NOT 10BTC. So now someone has to put in 4 BTC just to pay him out. For the third person, there is only 6 BTC left in the pot. Over time that debt gets larger and larger to the point where the later players may not even pay someone out anymore.


Hopefully this clears it up a bit more.

Then do the math.

Edit: Went ahead and did it for you:  https://spreadsheets.google.com/spreadsheet/ccc?hl=en_US&hl=en_US&key=t33pqDmUO-yM4ggHdR_z6Lg#gid=0

Someone thought the same earlier in the thread. Basically the way it works is people deposit money, then get paid out 1.2 times the amount they put in. So because of this, if someone deposits 1 BTC, then you deposit 1 BTC, they get paid out their 1.2 BTC but now there is only .8 BTC left in the pot. Over time this gap grows larger, so the people in front of you are simply paying off that larger debt. On a larger scale, imagine a total of 100 BTC has been deposited, that means there will be 20 BTC worth of deposits that are unpaid.

This is why it's a pyramid scheme/gamble, there is no way everyone can get paid out and there's going to be some losers in the end. Bernie Madoff was discovered because it went on long enough that the gap was billions of dollars large, we're just dealing with a few BTC.


If you want to figure out how much is left before you get paid you can do it the quick way or the long way:

Long way: Sum up all the deposits, then subtract the paid amounts, then subtract the 3% fee from each deposit (easy to do with spreadsheets). This will leave you with the current amount left in the pool. Then you can use that to subtract from the total BTC left before you're paid out to get the exact amount.

Short way: Assume the pot is 0. Add up all unpaid deposits up to and including your own. This is a rough estimate of how much before you're paid.

If it's been 48 hours you likely played in the last round. Each round will end at the time indicated on the website. Anyone not paid out by the end of the round will not be paid out at all.

Payout is as soon as it's available. Your receiving address that you input will be next to your deposit in the list. As soon as there is enough money in the pot, you get paid out, so you just have to wait until you're the next in line.

The bet limit is also 4x higher, meaning there are 2-4x less transactions since many people are placing multiple bets. It's probably about the same, just less redundant bets.

You should probably update the original post. Even though the limits are on the site, the person who just put 5 btc in might have been in the mindset of round 1 after reading the op.

When will this round end?

I had two missing bets, sent you a PM with the details.

Will you have the current upper bound posted on the site, or where can we find that out? It would be nice to have the current pot size as well