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Author Topic: MoneyPot.com :: The bitcoin gambling wallet  (Read 76771 times)
e1ghtSpace
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November 03, 2015, 12:24:04 AM
 #1021

What happened to the old money pot website where there was a graph and you had to cash out before it crashed?
Bitcoin addresses contain a checksum, so it is very unlikely that mistyping an address will cause you to lose money.
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actmyname
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November 03, 2015, 12:27:39 AM
 #1022

What happened to the old money pot website where there was a graph and you had to cash out before it crashed?
That domain and website is now known as "bustabit".

You can go to the website to find it again.

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November 03, 2015, 12:46:20 AM
 #1023

What happened to the old money pot website where there was a graph and you had to cash out before it crashed?
That domain and website is now known as "bustabit".

You can go to the website to find it again.
Ah awesome. The owner gave me 0.028 one time. It was awesome.
I also one a bet of 2 bits x 120. That was fun.
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November 03, 2015, 02:28:06 AM
 #1024

What happened to the old money pot website where there was a graph and you had to cash out before it crashed?
That domain and website is now known as "bustabit".

You can go to the website to find it again.

Also accounts were carried over to that domain, so it's safe to enter your old username/password =)
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November 03, 2015, 03:24:41 AM
 #1025

The deviation from the expected profit is crazy. I could understand it if the site has only a few thousands of bets, but it has over 2.8 millions bets already. How unlikely is it for a site to have an expected profit of 0.98% and to have an actual profit of -1.91% over so many bets?

It's impossible to answer that question if you don't tell me the distribution of the bet sizes.

If all the bets were the same size, it's very unlikely. If 1% of the bets were significantly bigger than the other 99% then it's much more likely, because only 1% of the bets would be significant to the total site profit.

When Just-Dice was running for BTC we had billions of bets and ended up with an actual profit of around 0.35% when the expected profit was 1%. That's because a small percentage of the bets were huge, and they did better than expected. The billions of tiny bets have little to no impact on the bottom line.

On this app there's been made:

572102 bets @ 0.0001 BTC (on 2x). 282271 have won, and 289831 lost resulting in a net player loss of 0.756 BTC.  
543899 bets @ 0.0002 BTC (on 2x). 269188 have won, and 274711 lost resulting in a net player loss of 1.1046 BTC
277403 bets @ 0.0004 BTC (on 2x). 137664 have won, and 139739 lost resulting in a net player loss of 0.83 BTC
140016 bets @ 0.0008 BTC (on 2x).   69327 have won, and  70689 lost resulting in a net player loss of 1.08 BTC


This sort of general trend continues, unless you get to the bets that have only been done a few times, where the player(s) have got rather lucky

e.g.

82 bets @ 4 BTC  (on 2x). 45 won, and 37 lost resulting in a net player win of 32 btc
8   bets @ 6 BTC  (on 2x).   5 won, and 3 lost  resulting in a net player win of  12 btc


so actually, the small bets haven't really done much but added a lot of noise. The investors would be far worse off without them Cheesy
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November 03, 2015, 03:41:11 AM
 #1026

The deviation from the expected profit is crazy. I could understand it if the site has only a few thousands of bets, but it has over 2.8 millions bets already. How unlikely is it for a site to have an expected profit of 0.98% and to have an actual profit of -1.91% over so many bets?

It's impossible to answer that question if you don't tell me the distribution of the bet sizes.

If all the bets were the same size, it's very unlikely. If 1% of the bets were significantly bigger than the other 99% then it's much more likely, because only 1% of the bets would be significant to the total site profit.

When Just-Dice was running for BTC we had billions of bets and ended up with an actual profit of around 0.35% when the expected profit was 1%. That's because a small percentage of the bets were huge, and they did better than expected. The billions of tiny bets have little to no impact on the bottom line.

On this app there's been made:

572102 bets @ 0.0001 BTC (on 2x). 282271 have won, and 289831 lost resulting in a net player loss of 0.756 BTC. 
543899 bets @ 0.0002 BTC (on 2x). 269188 have won, and 274711 lost resulting in a net player loss of 1.1046 BTC
277403 bets @ 0.0004 BTC (on 2x). 137664 have won, and 139739 lost resulting in a net player loss of 0.83 BTC
140016 bets @ 0.0008 BTC (on 2x).   69327 have won, and  70689 lost resulting in a net player loss of 1.08 BTC


This sort of general trend continues, unless you get to the bets that have only been done a few times, where the player(s) have got rather lucky

e.g.

82 bets @ 4 BTC  (on 2x). 45 won, and 37 lost resulting in a net player win of 32 btc
8   bets @ 6 BTC  (on 2x).   5 won, and 3 lost  resulting in a net player win of  12 btc


so actually, the small bets haven't really done much but added a lot of noise. The investors would be far worse off without them Cheesy


I see. Looking at the stats of only those 4 btc and 6 btc bets, the players are lucky but it is not as improbable as I imagined.

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November 03, 2015, 03:51:32 AM
 #1027

On this app there's been made:

572102 bets @ 0.0001 BTC (on 2x). 282271 have won, and 289831 lost resulting in a net player loss of 0.756 BTC.  
543899 bets @ 0.0002 BTC (on 2x). 269188 have won, and 274711 lost resulting in a net player loss of 1.1046 BTC
277403 bets @ 0.0004 BTC (on 2x). 137664 have won, and 139739 lost resulting in a net player loss of 0.83 BTC
140016 bets @ 0.0008 BTC (on 2x).   69327 have won, and  70689 lost resulting in a net player loss of 1.08 BTC

This sort of general trend continues, unless you get to the bets that have only been done a few times, where the player(s) have got rather lucky

e.g.

82 bets @ 4 BTC  (on 2x). 45 won, and 37 lost resulting in a net player win of 32 btc
8   bets @ 6 BTC  (on 2x).   5 won, and 3 lost  resulting in a net player win of  12 btc

so actually, the small bets haven't really done much but added a lot of noise. The investors would be far worse off without them Cheesy

That last line contradicts itself. Are the small bets not much but noise, or would the investors be far worse off without them?

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November 03, 2015, 04:24:29 AM
 #1028

That last line contradicts itself. Are the small bets not much but noise, or would the investors be far worse off without them?

Or does it? I like to think of the small bets like the gentle sound that a fan makes when helping you go to sleep, while getting interrupted by the gang war outside (the big bets).



But being serious, "noise" was probably the wrong word to use. I just meant that the small bets are greatly inflating the total-bet count, which makes the win look a lot less likely than it actually is, all the while actually benefiting investor.
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November 03, 2015, 04:42:13 AM
 #1029

That last line contradicts itself. Are the small bets not much but noise, or would the investors be far worse off without them?

Or does it? I like to think of the small bets like the gentle sound that a fan makes when helping you go to sleep, while getting interrupted by the gang war outside (the big bets).



But being serious, "noise" was probably the wrong word to use. I just meant that the small bets are greatly inflating the total-bet count, which makes the win look a lot less likely than it actually is, all the while actually benefiting investor.

Yeah, you worded that badly. When I read it I was like "how could these small bets be bad for investors?" The important thing for everyone to remember is that the more bets there are, the closer you'll get to the expected profit. 100 bets could swing either way, but 100 million would be a better representation. In this case, some bets just happened to be lucky over a small set. And looking at profit now, it looks like he lost a lot (or someone did).
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November 03, 2015, 04:46:19 AM
 #1030

Good network with good amount of trusted gambling sites. I like dustdice very much because it is very friendly on mobile.

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November 03, 2015, 07:36:51 AM
 #1031

It seems investor is winning the game again now. https://www.moneypot.com/apps/497-investdice shows that bets profit is now -13.5 btc so that should be a good news for investor that he is slowly losing

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November 03, 2015, 08:17:45 AM
 #1032

It seems investor is winning the game again now. https://www.moneypot.com/apps/497-investdice shows that bets profit is now -13.5 btc so that should be a good news for investor that he is slowly losing

Site profit is now only -6 btc, but I am not surprised about it TBH. After all, we have seen so many gamblers winning a good amount with martingale and then losing it back, and I don't expect this to be the last case.
Advice to all gamblers: Don't get too greedy.

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November 03, 2015, 09:08:36 AM
 #1033

It seems investor is winning the game again now. https://www.moneypot.com/apps/497-investdice shows that bets profit is now -13.5 btc so that should be a good news for investor that he is slowly losing

Site profit is now only -6 btc, but I am not surprised about it TBH. After all, we have seen so many gamblers winning a good amount with martingale and then losing it back, and I don't expect this to be the last case.
Advice to all gamblers: Don't get too greedy.

It is now -4.8. He is way too lucky to get more than 70 btc profit. Too bad he didnt stop, if he stop then that will be a good profit and leave a huge hole for the investor

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actmyname
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November 03, 2015, 12:10:36 PM
 #1034

It seems investor is winning the game again now. https://www.moneypot.com/apps/497-investdice shows that bets profit is now -13.5 btc so that should be a good news for investor that he is slowly losing

Site profit is now only -6 btc, but I am not surprised about it TBH. After all, we have seen so many gamblers winning a good amount with martingale and then losing it back, and I don't expect this to be the last case.
Advice to all gamblers: Don't get too greedy.

It is now -4.8. He is way too lucky to get more than 70 btc profit. Too bad he didnt stop, if he stop then that will be a good profit and leave a huge hole for the investor
Looks like it's back up to +5.

Investor profits are at 135 BTC now.

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November 03, 2015, 12:29:33 PM
 #1035

So anyone who invested in MP when the profit at -70 has now made a nice amount of coins. Grin

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November 03, 2015, 04:21:16 PM
 #1036

So anyone who invested in MP when the profit at -70 has now made a nice amount of coins. Grin

I invested 1.36 BTC shortly before the doctors came to visit.

Now I have: 1,362,452.35 bits.

So I've recovered my losses, but not much more. My net profit is 0.18%.

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November 03, 2015, 04:31:40 PM
 #1037

From a probabilistic point of view, martingale is a very bad way to play and it is most likely going to end badly.
With that in mind, I have invested 5 more bitcoin just now and is now patiently waiting for the long streaks to occur.  Cool

It does proceed in the way I expected, though it took a bit longer than I thought. 

So anyone who invested in MP when the profit at -70 has now made a nice amount of coins. Grin

I invested 1.36 BTC shortly before the doctors came to visit.

Now I have: 1,362,452.35 bits.

So I've recovered my losses, but not much more. My net profit is 0.18%.

I have done two more investment when the investor profit went down to ~100 btc and ~70 btc and divested as it went back up, and I have made slightly over 2%. Grin

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November 03, 2015, 06:13:22 PM
 #1038

Who doesn't know money pot ? Cheesy You guys give the best service of cross authentication factor for any gambling website thereby conforming the legacy of the gambling website.This also makes sure we are not playing on a website which is most likely to scam us.I think all the bitcoin gambling websites should add your API as a method of authorization and main wallet .

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ranlo
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Activity: 1652
Merit: 1002



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November 03, 2015, 09:42:00 PM
 #1039

So anyone who invested in MP when the profit at -70 has now made a nice amount of coins. Grin

I invested 1.36 BTC shortly before the doctors came to visit.

Now I have: 1,362,452.35 bits.

So I've recovered my losses, but not much more. My net profit is 0.18%.

Yeah, at least he lost the coins. There was a period where, for over 3 weeks, I was in the negatives (prior to that I was up like 20%). I'm positive all-around now though, Smiley.
JackpotRacer
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Racer and Lottery game are Closed


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November 06, 2015, 07:24:26 PM
 #1040

hi

after many hours of down time of this forum I thought I will ask moneypot/Ryan that it would be nice to implement a forum on the moneypot site.  I know there was a forum long ago on the site and it was spammed a lot and Ryan took it down

my idea is that each app owner if he wants can open his own thread where he could offer promos and discuss his games with moneypot users.

if it is not a good idea or not worth the work to implement it so lets forget it Smiley


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