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Even if a casino doesn't keep information about their profit open, you can still try to deduce it by looking at their max win per one bet amount. Usually this value is around 0.5-2% of the bankroll, so if you multiply it by 100 you'll get approximate value of their bankroll. This limit exists to protect the house from variance in case some whale will start making bets that represent significant portion of the bankroll.
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Trading is less risky than gambling. Gambling depends mostly on luck but trading is different. If you know the market you can make profit from trading it doesn't depend on your luck. And in bitcoin price are likely to go upwards. In gambling you gonna lose now or later.
I think it requires years of experience to get to the level when you can make reliable profit from trading in the long run. Without skill and knowledge it's very easy to lose your money with trading. One of the major differences between gambling and trading is time - with trading you need to wait weeks and months, sometimes years to see profit, but with gambling everything happens within seconds. |
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As mentioned above putting all in one basket is risky and secondly putting the gambling/casino stuff is too risky.
Its better you invest in some of the stable alts, try to invest in 3-5 instead of 1-2. I'm sure you'll have better chances of profiting from these in the long run.
I can't agree with it, casinos are meant to bring profit, their owners do everything they can to ensure that, they manage their bankroll, install house edge, spend money on advertising, promotions, etc. Of course there are many sites, and some of them are in loss, but if you choose carefully, you'll have quite stable profit, I myself currently investing for over a year and I've never seen loss in a period of one month. Alts on the other hand raise and fall, you'll have to wait 3-6 months to see some price movements, which might actually turn to be falling. |
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Small investments can serve educational purposes - you can try investing with leverage, altcoins, try fresh casinos, all with small amounts at first to see how it goes before making bigger investments. Your small investments will most likely not yield any significant returns, but they will give you experience that will help you manage your investments in future to minimize risks and maximize profits.
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Wow, Awakening of Myriad looks really gorgeous! Can't wait to see the game itself, hope it will be something original, interesting and competitive!
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Those website are funded by those investors who willingly to risk also of their money when the bankroll cameback to them let just say they will get 10% of their investment all gambling websites are earning estimated of 10bitcoin daily this is big for those who running for long year if gambling website is not making profit probably they already dead.
Getting 10 bitcoins per day doesn't mean anything at all, it can be too small if wagered amount is giant or too unrealistic, if wagered amount is moderate/small. Investments are measured by their return in proportion to invested amount. You said 10%, this is actually a very small amount for a yearly profit. Although casino investors don't lose their initial sum, all the risks combined (BTC volatility, gambling risk, security, etc.) push optimal returns higher, to around 50-60% per year. This is why gambling site owners offer generous share of the house profit, like 50-80%. |
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Stories like that shouldn't make people think that gambling is a solution to their financial problems. People tend to notice the lucky outcomes like in this story, but statistically there's more bad outcomes, when people lost their last money while trying to desperately grab some quick cash. It can be used when you have nothing to lose, but usually it's better to find some real solution to financial problems, as you can just bust completely or fall in debt. You need to make careful decisions and think about all possible outcomes before going to casino with your last money.
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Actually i mostly bet with directbet due to many reasons. I used to bet with bitcoin there till now but when i calculated all my expenses in transaction fees i was surprised to see how much i was losing for nothing. I have searched for better alternative and i have discovered that with ETH i can send any amount for just around 1-2 cent worth of ETH. Now i am betting with ETH in directbet and never had issues as well as i have already saved more than 10$ in fees within last few days.  Have you ever calculated how much you could loss in bitcoin fees while betting with directbet? It's true that in situation when each beat requires a transaction, it's better to use altcoins like Ethereum to reduce fee costs, but when it comes to classic casinos with deposits, you can just depost a larger sum and use it as your bankroll over longer period. Using altcoins for such purposes might be riskier, since they are more volatile than Bitcoin. |
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Most of the sites do not allow the gamblers under 18 so it is hard for any person who is under 18 and gamble on these sites and on real casino it is impossible that any under 18 enter that place.
Most of crypto casinos don't check any information about their players, they leave it up to gamblers to obey the rules and forfeit any responsibility regarding underage gambling. And it's quite reasonable, Bitcoin casinos offer anonymity, easy access and provable fairness, so it's impossible for them to check age without completely changing their existing systems. Anyway, there will always be operators who simply don't care if kids gamble in their houses, it's duty of parents to keep an eye on their children and explain to them the dangers of irresponsible gambling. |
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As i know gambling is all about luck and how to control my greed, except sportbetting (of course need skill and strategy).
I have experience in gambling (casino), somtime i hit big only with faucet or free money and i can withdraw from that. but because my greed i always want more and more, then i'll come again with my money as bankroll. Bet more and hope win more, but because of that i'll lose my money little by little and usually i'll stop after my bankroll to be "0". I call that with greed.
Anyone here have any suggestion to control my greed? Let me know.
You can control your greed by changing your perspective on money. Instead of focusing on getting more, you can focus on not losing what you already have and saving it. This way you will be able to switch your attention from "reward" of gambling to "risk" and be more careful. With time you might notice that you get a good profit sometimes, because you chose to stop the game and withdraw. |
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Either there is a gambling or not, our family is really important to us, so why we should open a topic like this. quit gambling and think for our love ones? of course that's common. I always think of my love ones for their future and I don't play gambling too much.
To all players in the gambling sites I know most of them are thinking about their family love ones, that's why some of them are relying and depending their luck in the games but the reality happened was not happen to their expectaion, instead they becoming more addictive unto it and greed which lead them to become an addict gambler. I think people with their own families are wise enough to not rely on gambling as their source of income, since it's mathematically impossible and just plain foolish to do so. Of course this doesn't mean that married people don't gamble, but usually they try to keep it as a secret or just threat it as a hobby and don't spend any significant amounts on it. |
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I was always curious about knowing how much gambling sites actually earns and how profitable is it for them considering that some websites such PrimeDice are running for years now and bitcoin price is going up and down since then so how do they manage to keep their reserve filled and make profit in same time ?
Many bitcoin casinos keep information about their profit open. Here's some examples. Crypto-games: 15,910.87627156 - 15,278.65106029 = 632.22521127 BTC profit in Dice alone, over all time (around 3 years). YOLOdice: 71.228 BTC profit, since Dec 06 2016. You can check it by yourself in investor section or general stats of any gambling site. |
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Investing is a bit less riskier than trading, if you can be 100% sure that it's not a scam. It all just depends on where you want to invest, ICO's are quite risky, but gambling site investments proven to be relatively safe, but you can't expect any crazy profits from them, it's around 40-50% ROI. I personally think it's better to invest larger sums in safe places, while trade altcoins with smaller amounts of btc, this way you can minimize risks as a beginner.
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1. Terrorists/other criminals will always find their way to make transactions, if you somehow make cryptocurrencies and cash disappear, they will use precious metals and gems. You can't shut them down by removing their currency.
2. Limiting freedom of whole nation to deal with terrorists is not acceptable, especially when you take into account how common it is for governments to abuse their power.
3. Bitcoin's main innovation is being uncontrollable by governments, without it Bitcoin will be worth nothing.
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In order to call something gambling, 2 requirements must be met:
1. Putting money at stake on order to make more money
2. Having negative expected value
Many people like to say that trading is just gambling, or buying Bitcoin is a gambling, but if it's impossible to prove that expected value is negative, then you can't call it gambling. This is the main difference between gambling and investing/trading. Gambling is also usually instant, but not necessarily.
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Looking at the settings i can say that this is just like martingale but on reversed one and its not surprising or shocking anymore to use these kind of methods raise bet on win is risky and i tried already lots of method on playing dice and i concluded none of them work on longer runs and mostly got busted or burned out your wallet if you dont know when to exit when your in profits or making cut losses.
most people bust out because they dont have a big enough bankroll to survive the down swings. trust me, playing roulette with $10,000 is different to playing it with $150. You're quite right, the size of the bankroll has huge impact on your profits, with big bankroll you are more likely to cover your loses and be in green for some time. But the thing is, you still can't reliably make a profit with the size comparable to the size of your bankroll. Risk and payout will always be tied to each other. It's hard to make $100 out of $150, but very possible to make $100 out of $10,000. But still you can't be 100% sure that you will be in profit even with big bankroll, because lose streaks happen sooner or later. |
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Hi guys!
My today's question has two side and here it comes: What would be an ideal online casino gambling tournament for you? Do you have any special desires or thoughts you would like to share? Let us and others know and let's have a nice discussion.
And those two sides I mentioned: firstly, as a gambler I would like to personally know if you think the same as I do and it's my personal interest. Secondly, not only Oshi, but probably others casinos too, are having and preparing various tournaments and this discussion could be a great place to take the inspiration from - I mean - we all wanna enjoy gambling and make the most money and the users feedback is important to set everything in the best way.
Cheers!
PS: I would personally like some kind of themed tournament, maybe some combination with "non-money" prizes etc., maybe even lottery or something like that. What do you think?
I have some ideas for non-money prizes: you can award the winner with decreased or 0% HE for some time or some amount of his next bets. You can also give cashback as a prize. Also you can give "shares" of your casino as a prize - something like 0.01% of total profit. As for tournament I think they should be kept simple to attract the highest amount of gamblers and avoid any confusions and misunderstandings. |
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As i know gambling is all about luck and how to control my greed, except sportbetting (of course need skill and strategy).
I have experience in gambling (casino), somtime i hit big only with faucet or free money and i can withdraw from that. but because my greed i always want more and more, then i'll come again with my money as bankroll. Bet more and hope win more, but because of that i'll lose my money little by little and usually i'll stop after my bankroll to be "0". I call that with greed.
Anyone here have any suggestion to control my greed? Let me know.
Luck is out of your control, you can't influence it in any way, so you need to change your approach to gambling completely. View gambling as entertainment and fun activity, wager only sums that you can afford to lose and don't view gambling as source of easy money. When you win, save those money for playing later or spend it on something for yourself. Gambling should bring happiness even if you lose, not frustration. |
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I suppose some people think that by using a bot they will be able to obtain profits since you are taking out of the equation the human component that makes defeat so easy in some games but the truth is that no matter what kind of bot you use there is no way to modify the house has over you in all of its games.
well if all people have a mind like you maybe there's no house will be open anymore but because of the nature inside people's mind that gambling is an easy way to gain profits that's why they will try everything to win against the house and that's why bot has been introduce trying to think some settings that will lessen the risk and giving some opportunity to win. No wonder why even though so many casinos are around but still they are making profit and gamblers are losing money. As long as people go for easy and fast money surely they will lose money soon or later. It is a very bad thinking about gambling. Gambling should be like for only fun and if one is lucky then they will make some profit for that day. It is not that people need to chase the luck and end up losing money. True but I will also add that using a bot takes the fun out of the game, playing in the casino should be about getting fun, but if a bot is doing everything for you then what kind of fun the gambler could get out of it, I suppose that none, so using a bot will not allow us to enjoy gambling as we must. For some people watching how bot spins big amount of bets with some pre-programmed strategy that in their minds should beat the house is their definition of fun. If something is not fun for you, it doesn't mean that someone else can't enjoy it. No one is obligated to enjoy gambling the way you do. |
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Security first, for me that is the most important thing to prevent it from hacking. There's a lot you need to consider in order to establish a good gambling site. The provably fair, the percentage of investing on the house edge if you are open on that. Simple but works perfectly. For design, have a good color combinations which is not harsh for the eyes.
Yes, that is the most important measure on a casino site. For me a good gambling site should give guarantees to its users. No chance to be hacked, no chance to have the casino closing and stealing users/investors funds. If possible with the casino owner face and ID, so if he tries to scam users he would be tracked, found and arrested, having to pay back all everyone. That casino would make much success and people would send money to it without worries. How will the owner can prove that they have no chance to closed and steal investor's fund? It's easy to say that "We are Trusted". It's a win win situation for both gambler and the owner. Gamblers must keep in mind that no matter how popular or stable gambling site is, there are still chances of turning into fraud even @ 1%. Although not an assurance that a gambling site will turned into a fraud, the first thing Im looking is their own ANN thread here in bitcointalk with active staff of theirs that can handled lots of questions. Being an active in support is the first thing that most of the gamblers want. Well if the owner will show themselves into the public like your suggesting, expect also that their players will send an identity which most of the gamblers doesn't want. Well, that is what would be a good gambling site for me, an ideal one, and I believe many people would feel more secure sending their money to a site like that. The casino owner could proove it by showing who he is, if something goes wrong on the casino he would be tracked and forced to accomplish with his word. So, he would do his best to don't scam people or to protect his funds very well. But as nothing is perfect, a good reputation on this forum is enough for now...  Relying on reputation built on the community is the main criteria of choosing who we trust. The earned reputation is difficult to achieved so if ever there is an event that a certain person or company build reputation here, chances of people to trust them really have a high chance. Just like in casino or gambling site owners, once they built reputation, expect that the community will trust them. But sometimes the winds are blowing to the opposite direction as after building repuatation, some showing their true colors of fraud activity. That's the reality. That is true, sometimes when someone becomes reputable enough this person can perform a big scam. He knows everyone (or most part of the community) trust him and that he can hold a big amount of money from everyone, next he goes away with all the money and never come back anymore (with the same account). But, I believe most people who spend a lot of time building reputation and being honest won't change from water to wine and finish all the progress done in years. Further if this person has a good source of income exactly because the reputation. It applies for the casino owners, trusted casino owners won't hurt their source of income for the rest of their life because a unic scam opportunity... There's nothing to ensure that exit scams won't happen with any given service. All the casino owners are anonymous, meaning nothing can stop them from walking away with investor and player funds. Those sums start from hundreds and go to thousands of bitcoins, and even if they have years of good history behind them, it doesn't mean that one day they won't decide to retire and take a few million dollars worth of coins with them, instead of closing/selling their business. |
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