MoneyPot.com :: The bitcoin gambling wallet

[erwin45hacked]

Continuing the betterbet discussion ryan, what is the percentage of profit split between you and betterbets? since they are using your bankroll. I assume that it will be moneypot that will have the bigger percentage for the share profit?

[erwin45hacked]

Continuing the betterbet discussion ryan, what is the percentage of profit split between you and betterbets? since they are using your bankroll. I assume that it will be moneypot that will have the bigger percentage for the share profit?

There's some information in the FAQ about this. Basically the investors are *always* given only +EV, kelly satisfying bets (all other bets are rejected). Then if there's a difference between payouts that satisfying the investors, and a payout the gambler wanted (e.g. a commission) our standard structure is doing a 50-50% profit share. So the four parties:

* Gamblers :: Get the bet they want
* Investors :: Always get +EV, kelly satisfying bets
* Casino Dev :: Risk Free profit for bringing the gamblers
* Money Pot :: Risk Free profit for running the service

Everyone that created a gambling site under moneypot API and bankroll is creating a gambling sites with no risk at all because they got profit just by bringing in more players and even if the house is beaten then they will lose nothing at all either. Question is, why do you created such thing ?

Dont get me wrong, I honestly said that this is a good thing. I mean is why risk this thing for other people to create a gambling website to get profit while you can use all the funds to make your own website and get all the profit for yourself?

[erwin45hacked]

Everyone that created a gambling site under moneypot API and bankroll is creating a gambling sites with no risk at all because they got profit just by bringing in more players and even if the house is beaten then they will lose nothing at all either.

That's right, if a casino bring in players they will get guaranteed, risk-free profit. They do however, need to bring in players which is harder than it might sound =)

Investors have an expected profit, but it's far from risk free (it's more like, crazy risky).  But the have the luxury of not having to do much

I see that betterbet have a raffle promotions . Does this promotions comes from their own expenses? or that moneypot has a part in it too?

Question is, why do you created such thing ?

Dont get me wrong, I honestly said that this is a good thing. I mean is why risk this thing for other people to create a gambling website to get profit while you can use all the funds to make your own website and get all the profit for yourself?

Because we want to enable a whole set of new exciting bitcoin gambling games, done by people who are more front-end and UX experts, who don't need to worry about doing the "hard" backend. It's really win-win. And not only that, I think gamblers are going to see in the next 6 months a whole suite of new games from developers who previously wouldn't have been interested in bitcoin games =)

So your target is a good developers that can make a great site without having to worry about the bankroll for the site. Any restrictions like how many dice game is allow for moneypot? it will be alot of dice game in the future if there is no restriction since it is the easiest to be coded

[BetterBetsDev]

I see that betterbet have a raffle promotions . Does this promotions comes from their own expenses? or that moneypot has a part in it too?

Raffle promotions and other bonuses/prizes we pay out come out of our own pockets.

[agustina2]

i love all feature in moneypot, but u should add more games, betterbets still the best.

if i generated 1 address i can use it many times? or only 1time?

coz every time i deposited i always generate new address

[adolf84]

I interested about investment on global moneypot, any detail info about this feature? I like to read it 1st before make any decision..

[Altcoin4life]

Hi Ryan what is betterbets.io max payout my friends and I may move larger btc sums over soon? Hoping at least 3-5 btc...

[elm]

@all

how do MP sites play, with bits, satoshi, MBTC or BTC? thanks

[BetterBets.io]

@all

how do MP sites play, with bits, satoshi, MBTC or BTC? thanks

Hello Elm,

On Moneypot Bitcoin is displayed in BITS, on BetterBets.io it is shown in Satoshi/Bitcoin hope that helps

[elm]

@all

how do MP sites play, with bits, satoshi, MBTC or BTC? thanks

Hello Elm,

On Moneypot Bitcoin is displayed in BITS, on BetterBets.io it is shown in Satoshi/Bitcoin hope that helps

thanks for clarifying, good luck

[elm]

Hi Ryan what is betterbets.io max payout my friends and I may move larger btc sums over soon? Hoping at least 3-5 btc...

What is your MP username? I'm reluctant to further dilute the existing investors, unless the bankroll limits really are too low.

@all

how do MP sites play, with bits, satoshi, MBTC or BTC? thanks

MP itself actually stores everything internally in satoshis (and fractions there of) so it's up to sites to determine how to display it. Personally I prefer to get satoshis and divide it by 100, and call it bits. Other people prefer to divide by 100000000 and call it bitcoins. But it's really just the same thing, displayed in different ways.

thanks Ryan that point is cleared now

but regarding investors I dont understand your answer.  do you mean that MP is right now not interested in more
investors? if yes will it change as soon there are more games on MP?

[elm]

but regarding investors I dont understand your answer.  do you mean that MP is right now not interested in more
investors? if yes will it change as soon there are more games on MP?

We welcome more investors that understand the risks (and rewards) and choose to invest. I however was just saying that I personally don't want to put more money in (I already own around 100 of the bankroll), unless it was strictly required. 

 fair enough and sorry for the misunderstanding now I understand that you were talking about your own investment.

[erwin45hacked]

So your target is a good developers that can make a great site without having to worry about the bankroll for the site. Any restrictions like how many dice game is allow for moneypot? it will be alot of dice game in the future if there is no restriction since it is the easiest to be coded

No, definitely not. We don't want to be the gatekeepers of that sort of stuff. However, if you do create a boring site that no one plays, you're not going to make any money.

Is there an indicator for moneypot to determine if a site is having some activity or not? I do think you wont keep most of the sites that doesnt make a decent profit/ get player activity since it will just a waste of resources?

[Alvin Fahriza]

Hello

whats happened on moneypot or bustabit?
got hacked? :/

[erwin45hacked]

Seems like you will get alot of advantage for being developer and use moneypot bankroll.

The split of profit is 50 50 . If I am a developer and bet at my own site for 1 btc and win, I will get 2 btc . If I lose 1 btc, then I will get back 0.5 since the split of profit is 50 50 isnt it? this is simple calculation assuming that there are no investor, of course after cutting with the investor profit I will still get back like 0.4 btc , so It is a plus point betting at my own site if I am the developer right?

[tonino]

Seems like you will get alot of advantage for being developer and use moneypot bankroll.

The split of profit is 50 50 . If I am a developer and bet at my own site for 1 btc and win, I will get 2 btc . If I lose 1 btc, then I will get back 0.5 since the split of profit is 50 50 isnt it? this is simple calculation assuming that there are no investor, of course after cutting with the investor profit I will still get back like 0.4 btc , so It is a plus point betting at my own site if I am the developer right?

what if you will lose 10BTC and some other players at your site will win 10BTC. how much will you get back from MP? IMO 50% from house edge of 1% of turnover
and what if you win 10BTC and some other players will lose 10BTC. how much will you get from MP?
............
or will MP  hold the losing bets only and will decline the winning bets? I don't thinks so

[BetterBets.io]

Seems like you will get alot of advantage for being developer and use moneypot bankroll.

The split of profit is 50 50 . If I am a developer and bet at my own site for 1 btc and win, I will get 2 btc . If I lose 1 btc, then I will get back 0.5 since the split of profit is 50 50 isnt it? this is simple calculation assuming that there are no investor, of course after cutting with the investor profit I will still get back like 0.4 btc , so It is a plus point betting at my own site if I am the developer right?

This is incorrect, the amount gained is 50% of 1% for every bet. So using Betterbets.io as an example since we are the first to use this system we currently have 237 BTC wagered since launch. Our gains from this is 1.185 BTC. Hope this clears up all your questions regarding gaming the system on the developer end. In other words, to succeed you must have high volume and produce a quality Casino or game, and that's the bottom line.

[memphixx]

Hey I have been waiting over 2 hours for my little deposit of 10,474.48 bits to get confirmed... eager to check out the sites please help!

EDIT: within two hours received a response from support, fixing my deposit, and matching it so I now have double my deposit. Great service guys thank you!

[Alvin Fahriza]

I Like this desaign

[memphixx]

Hey I have been waiting over 2 hours for my little deposit of 10,474.48 bits to get confirmed... eager to check out the sites please help!

Gah. That was my fault indeed. I wasn't keeping track of the disk growth and bitcoind ate my 50GB SSD partition. I'm moving everything over to a bigger drive, and will give everyone a bit of a tip who was affected.

The issue has now been resolved, and for more affected users I've given them a x2 deposit tip. Enjoy!

Thanks Ryan!