MoneyPot.com :: The bitcoin gambling wallet

[joksim299]

Is bustabit included in the moneypot group ?
If I was an investor moneypot , I would benefit from profit bustabit ?

BustaBit is operated by MoneyPot S.L.R. which is the sole owner and bankroller of bustabit.
MoneyPot S.L.R. operate with MoneyPot.com and Bustabit, but you can only invest to MoneyPot.

[JackpotRacer]

thank you for trying to explain especially for me but I can assure you that most (if not all) of the app owners didn't understand the big announcement.

I'm not quite sure this is true, from app developers perspective the new scheme is both simpler and more profitable.

I am sure and as I see I am the only app owner who asked some questions. sure it is weekend and maybe they still sleeping and will jump in anytime soon.

ELI5: You get 50% of the house edge of all bets  (the only exception to this is when this would be too risky for investors otherwise).

again that is not right though I would be glad if you correct me and I am totally wrong.
a whale will come to my app and bet 4BTC (BR=450) .....will ,I get 50% of HE?
a medium whale will come to my app and will bet 3BTC ... will I get 50% of HE?
if yes then I understood you right when saying: ELI5: You get 50% of the house edge of all bets and if I don't get 50% of the HE of those bets then your ELI5: You get 50% of the house edge of all bets was wrong.

ELI5: You get paid more than last time

that sounds nice but in numbers it would be much more understandable for all of us. how much is this more? more is nice but it must be put in relation to something. if I get for all bets as you said 50% of the HE it would be easy for me to have the numbers and it would have been a nice surprise for any app owner.

Set the max-profit to 0.5% of the bankroll, and you'll be guaranteed half the house edge (more than before).

I really appreciate your ELI5 answers. please lets try it also for my last question.
before we (app owners) had 0% of the HE when a whale came to our app and wagered max.......how much do we have now? again 0%?

[MonsterV]

Is bustabit included in the moneypot group ?
If I was an investor moneypot , I would benefit from profit bustabit ?

BustaBit is operated by MoneyPot S.L.R. which is the sole owner and bankroller of bustabit.
MoneyPot S.L.R. operate with MoneyPot.com and Bustabit, but you can only invest to MoneyPot.

Oww ok I understand , although bustabit operated moneypot the same person , but I can not be investor bustabit only in moneypot ,  thanks for info sir 

[ndnh]

I think RHaver actually made all the points clear. I don't think I can explain in any more detail without confusing myself.

Step 1: Read his post.
Step 2: Check whether you understood. No? Go to Step 1.


Edit: Of course if a whale bets very high, you could get 0%. That is why he said to limit the max bet at 0.5% of bankroll (so you get 50% of HE all scenarios). Simple.

[JackpotRacer]

I think RHaver actually made all the points clear. I don't think I can explain in any more detail without confusing myself.

Step 1: Read his post.
Step 2: Check whether you understood. No? Go to Step 1.


Edit: Of course if a whale bets very high, you could get 0%. That is why he said to limit the max bet at 0.5% of bankroll (so you get 50% of HE all scenarios). Simple.

the edit has the answer

but still why would Ryan say ELI5: You get 50% of the house edge of all bets

[JackpotRacer]

Set the max-profit to 0.5% of the bankroll, and you'll be guaranteed half the house edge (more than before).

will Set the max-profit to 0.5% of the bankroll replace the formula you gave me not so long ago the formula was 0.06% of the bank roll 

thanks

[ndnh]

Edit: Of course if a whale bets very high, you could get 0%. That is why he said to limit the max bet at 0.5% of bankroll (so you get 50% of HE all scenarios). Simple.

the edit has the answer

but still why would Ryan say ELI5: You get 50% of the house edge of all bets

There is an exemption part you skipped. See this:

ELI5: You get 50% of the house edge of all bets  (the only exception to this is when this would be too risky for investors otherwise).

--snip--

Set the max-profit to 0.5% of the bankroll, and you'll be guaranteed half the house edge (more than before).

Set the max-profit to 0.5% of the bankroll, and you'll be guaranteed half the house edge (more than before).

will Set the max-profit to 0.5% of the bankroll replace the formula you gave me not so long ago the formula was 0.06% of the bank roll  

thanks

Yes it will. You can wait for Ryan to confirm if you wish.

Edit: Sorry I keep editing.

[JackpotRacer]

Set the max-profit to 0.5% of the bankroll, and you'll be guaranteed half the house edge (more than before).

will Set the max-profit to 0.5% of the bankroll replace the formula you gave me not so long ago the formula was 0.06% of the bank roll 

thanks

Yes it will. You can wait for Ryan to confirm if you wish.

nah you are the maths genius why should I wait for Ryan?

but still it would contradict the Apps will now get a constant 50% of the house edge

[ndnh]

Set the max-profit to 0.5% of the bankroll, and you'll be guaranteed half the house edge (more than before).

will Set the max-profit to 0.5% of the bankroll replace the formula you gave me not so long ago the formula was 0.06% of the bank roll 

thanks

Yes it will. You can wait for Ryan to confirm if you wish.

nah you are the maths genius why should I wait for Ryan?

but still it would contradict the Apps will now get a constant 50% of the house edge

That is just to make it simple to the reader. The second para has the exemption.

tl;dr version is Apps will now get a constant 50% of the house edge as long as the bet is <=0.5% of the bankroll. So, just make the max bet 0.5% of the bankroll instead of the previous one, and you are done.

[joksim299]

I would like an option to disable public gaming stats and to withdraw balance form all apps at once.

[RHavar]

I would like an option to disable public gaming stats and to withdraw balance form all apps at once.

Thanks, noted. Both very reasonable, and added to our issue tracker.

[RHavar]

If any (developer) is still using a-chat-server can you please migrate off ASAP to socketpot ( https://blog.moneypot.com/introducing-socketpot/ ), as we'll soon be shutting off a-chat-server.

The chat API is virtually identical, and supports more features (persistent history, moderators etc) so it's worth upgrading anyway.

[ranlo]

I would like an option to disable public gaming stats and to withdraw balance form all apps at once.

Thanks, noted. Both very reasonable, and added to our issue tracker.

Great ideas! It'd also be cool if there were like an overall site leaderboard people can choose to show up on, that would take into consideration their profit/wagered from all supported MP sites at once.

[RHavar]

Great ideas! It'd also be cool if there were like an overall site leaderboard people can choose to show up on, that would take into consideration their profit/wagered from all supported MP sites at once.

NLNico beat me to it: http://dicesites.com/moneypot and as you can see, betterbets is really doing a phenomenal job.

[NLNico]

He means leaderboard for players over all sites :p I think.

[dooglus]

once I received a formula to be sure that I (app owner) always will get about 0.47% = very near to 0.50% of the HE

the formula was 0.06% of the bank roll

bankroll today about 450 and 0.06% of 450 = 0.27

to get the almost 0.50% (0.47%) of the HE my max win allowance for the player should be 0.27
(IMO an app with this tiny max win allowance can forget all whales and even medium whales)

I think you misunderstood. You want 47% of the house edge (ie. almost half of it) not 0.47% (ie. about 1/200th of it), and to get that you need to limit bets at 6% of 1% of the bank, ie. 0.27

what would be the formula now after the big announcement? anyone can help out with the right multiplier so I (app owner) will have the 0.50% of the HE

Now you get 50% of the house edge up to 50% of 1% of the bank, ie. 2.25

To get 47%, you can take a bet up to 53% of 1% of the bank, ie.  2.385

So you can increase your limit about 9x.

but still it would contradict the Apps will now get a constant 50% of the house edge

I think it is like this.

before:



after:

[JackpotRacer]

@dooglus

thank you very much for the effort to shed some light on the problem I had with this sentence
Apps will now get a constant 50% of the house edge maybe also because english is not my native language

very much appreciated because I am for a long time a fan of yours and again I have to say Chapeau! (hint)   

I think you misunderstood. You want 47% of the house edge (ie. almost half of it) not 0.47% (ie. about 1/200th of it), and to get that you need to limit bets at 6% of 1% of the bank, ie. 0.27

yes it looks like the formula I received the formula was 0.06% of the bank roll was confusing
but I understood it as 47%-50% of the 1% HE and I am sure the one who gave me the formula meant the same.

Now you get 50% of the house edge up to 50% of 1% of the bank, ie. 2.25

To get 47%, you can take a bet up to 53% of 1% of the bank, ie.  2.385

So you can increase your limit about 9x.

yes I understand what you are explaining and it makes sense but then the sentence should have been
Apps will now get a constant 50% of the house edge....up to 50% of 1% of the bank
it looks that this missing part confused me and again maybe because that english is not my native language but that is the reason I ask for ELI5 and thanks again for your input and patience to explain it to me.

thanks also for the graphs where it perfectly shows the point where Investors and App owners are diverging

as I understand and always understood that the Investor gets 100% of the 1% HE if he has full/1x kelly risk

now my question is how much will the app owner get if there is a zero risk bet and the Investor has actually zero risk?

[JackpotRacer]

@Ryan

is the new announcement = payout formula already implemented?

[RHavar]

Thanks for the chart Dooglus, once again another fantastic explanation of things =)

@Ryan

is the new announcement = payout formula already implemented?

Yeah, it's already live

now my question is how much will the app owner get if there is a zero risk bet and the Investor has actually zero risk?

A zero risk bet would constitute 0 on the x-axis of Dooglus' graph. So both apps and investors will get exactly half the house edge

[JackpotRacer]

Thanks for the chart Dooglus, once again another fantastic explanation of things =)

@Ryan

is the new announcement = payout formula already implemented?

Yeah, it's already live

now my question is how much will the app owner get if there is a zero risk bet and the Investor has actually zero risk?

A zero risk bet would constitute 0 on the x-axis of Dooglus' graph. So both apps and investors will get exactly half the house edge

sorry but why should get the Investor for a zero risk bet 50% of HE? that is very unfair IMO because he gets 100% for a full risk bet and the app owner gets nothing

the app owner is doing all he can (including costly promos) to bring players to the table and a whale comes and wants to bet maximum and app owner gets nothing for the max bet because the risk is with the investor = ok accepted

but now the app has a bet from the whale that will be zero risk for the Investor and the app owner will need to split the HE with the Investor? that is more than unfair IMO

edit
and the graph before shows that the investor would have got nothing in case of a zero risk bet for investor. so it was handled before like I said. why the change now?