It recently came to our attention that many people (including people on this forum) are attempting to cheat on gambling websites (especially those that have a 0 confirmation deposit policy)
Here is how it works:
- Cheater finds a gambling website that lets you deposit with 0 confirmations
- Cheater sends BTC with a low fee, which takes anywhere between a few minutes to over 1 hour for it to receive the first confirmation
- Cheater plays on the website:
~ IF he is winning before the first confirmation hits, he "allows" for the transaction to go through (by not double spending) and then withdraws the winnings once the transaction is confirmed.
~ IF he is losing before there is the first confirmation hits, he double spends the transaction with a higher fee to another wallet of his.
This effectively gives the cheater a window of a few minutes to play and decide if he wishes to allow the transaction to go through or not.
When we had our 0 confirmation policy, this happened to us (
www.BitcoinBlackjack.com) many times.
And now that we implemented a 1 confirmation policy it seems that the cheaters have taken their scam elsewhere.
We have personally spoken to many other gambling site owners on this forum, and many of them have also switched from a 0 confirmation to a 1 confirmation deposit policy in order to protect themselves.
Unfortunately, this does not benefit the experience for the players (since they have to wait for their deposits to confirm each time before playing). But it seems to be the only way to combat double spenders.
What do you guys think? Players? Website owners? We would love to hear from your experiences and see if there is a better solution.
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