Is it profitable to invest in betting sites?

[Chemistry1988]

1% per a month is a lot more than most banks!

I have invested in a few different sites for some months. From my personal experience, the average return is a lot better than 1% a month. But I don't think it should be compared with the bank deposit rate, as the degree of risk is very much different.

[hua_hui]

1% per a month is a lot more than most banks!

I have invested in a few different sites for some months. From my personal experience, the average return is a lot better than 1% a month. But I don't think it should be compared with the bank deposit rate, as the degree of risk is very much different.

can i know what is all the gambling sites u invest in? may be interested to divert my investment too.

[BTCevo]

You can gain profit but its very low and i think its monthly interest just like a bank interest that you can only get 1% profit every month..

Nope it still depends on how much you invest. The more you put your invest the more profit you can get but there is a limit to your invest like for ie upper than 1 btc will get 1% or something like that but depends on variety on each site. Btw there is no way each bank can give you 1% each month that is too much

[Chemistry1988]

1% per a month is a lot more than most banks!

I have invested in a few different sites for some months. From my personal experience, the average return is a lot better than 1% a month. But I don't think it should be compared with the bank deposit rate, as the degree of risk is very much different.

can i know what is all the gambling sites u invest in? may be interested to divert my investment too.

Currently I have invested some bitcoin in Safedice and Just-dice, and I have previously invested in Moneypot, PRC and Bitdice.

[michinzx]

Investing in a betting site is more profitable than playing itself, because gambling sites has their own strategy to make the gambler lose their money
 

exactly, casino games are designed to make the player lose, and profit the casino. otherwise there would be no open casinos. thats why dice sites provide an auto betting tool for players so the martingale losers will lose faster many people are too blind to see this, the casino wouldnt put work into something if it cost them money.

[Daijess]

It depends on the site traffic , i have invested on Just dice last time when it first come out and made quite a good profit from it .

[victoryboy]

It is profitable if you are lucky enough to find good site and have patience because house always win and remain with profit on long term basis.This is much more convenient than gambling to invest in some famous gambling site.

[Zontop]

You can make some money but the profit will be very less whereas in gambling you can make lot of money.There is big risk but chances are big too.Investing in gambling site is profitable when you run your own gambling site.

[magicmexican]

In theory, yes. Investing in a well reputable dice site, for example, should be +EV if you are near 100% that is has a sufficient bankroll to deal with swings, and will never just take off and run after first signs of trouble. Its still going to be a very low ROI investment, %-wise.

Making your own site is a whole different thing and is probably about 100x harder to achive, as it would require a ton more money to do so, not to mention gathering a competent group of people to work with.

[pooya87]

i personally don't like these two words together. invest and gamble never work together it is too risky. if you have a method that you have tested for long time and you are sure you can earn profit then betting yourself is a better option rather than investing with some website which can disappear one day.

[davinchi]

1% per a month is a lot more than most banks!

But banks never scam brother while the gambling sites most often do such. I remember people investing a lot in dice.ninja and then feeling really heart breaking when it scammed. So dont compare with bank please

[strayanbit]

But banks never scam brother while the gambling sites most often do such. I remember people investing a lot in dice.ninja and then feeling really heart breaking when it scammed. So dont compare with bank please

I was replying to:

You can gain profit but its very low and i think its monthly interest just like a bank interest that you can only get 1% profit every month..

And you're right, a betting site is not a bank.

[GannickusX]

Well, investing in casinos is +EV as far as I know so you would eventually be on profit if you invest long term, so yeah, definitely profitable and definitely better than betting yourself. The problem is that some casinos that accepted investments turned out to be scams so you have to be very careful.

[RealPhotoshoper]

1% per a month is a lot more than most banks!

I have invested in a few different sites for some months. From my personal experience, the average return is a lot better than 1% a month. But I don't think it should be compared with the bank deposit rate, as the degree of risk is very much different.

can i know what is all the gambling sites u invest in? may be interested to divert my investment too.

Currently I have invested some bitcoin in Safedice and Just-dice, and I have previously invested in Moneypot, PRC and Bitdice.

Interesting, 1% profit monthly each site? If you invested 100 btc each site you get 1+1 = 2 bitcoin every month.
The question is, is it worth invested 100 bitcoin to get 1 bitcoin monthly? Hmmmm . is it profitable? Yes it is profitable. But I think risking too much money by invest on risk thing like gambling company is not good idea.

[GannickusX]

1% per a month is a lot more than most banks!

I have invested in a few different sites for some months. From my personal experience, the average return is a lot better than 1% a month. But I don't think it should be compared with the bank deposit rate, as the degree of risk is very much different.

can i know what is all the gambling sites u invest in? may be interested to divert my investment too.

Currently I have invested some bitcoin in Safedice and Just-dice, and I have previously invested in Moneypot, PRC and Bitdice.

Interesting, 1% profit monthly each site? If you invested 100 btc each site you get 1+1 = 2 bitcoin every month.
The question is, is it worth invested 100 bitcoin to get 1 bitcoin monthly? Hmmmm . is it profitable? Yes it is profitable. But I think risking too much money by invest on risk thing like gambling company is not good idea.

What's your point? You want investments risk free? They do NOT exist, investments always have risk, this is a controlled risk, you know you have +EV so you know you are going to get profit eventually and you are not really risking all your money, It would be hard, close to impossible to lose 100 bitcoins if you invested them in a casino.

[Buziss]

What's your point? You want investments risk free? They do NOT exist, investments always have risk, this is a controlled risk, you know you have +EV so you know you are going to get profit eventually and you are not really risking all your money, It would be hard, close to impossible to lose 100 bitcoins if you invested them in a casino.

You are actually risking all your money invested, as you would be losing all of the money if the site owner run away. I have seen people suffering from that a few times in the past.

[strayanbit]

What's your point? You want investments risk free? They do NOT exist, investments always have risk, this is a controlled risk, you know you have +EV so you know you are going to get profit eventually and you are not really risking all your money, It would be hard, close to impossible to lose 100 bitcoins if you invested them in a casino.

You are actually risking all your money invested, as you would be losing all of the money if the site owner run away. I have seen people suffering from that a few times in the past.

I found an old thread, it had this nifty link in it:
https://thebitcoinstrip.com/blog/investing-in-bitcoin-casinos.html  it explains the ins and out of the whole proposition.

[iv4n]

Both options are gambling, calculate risk before u invest in anythig. I would like more to gamble with money I have then to invest in gambling site. But I think that have some advanages. I asked few times here about that investing in gambling site, but I didnt found anyone who did that, so I dont know how that works. Im aware I have a lot to learn about it, for now I just gamble with money I earn.

[GannickusX]

What's your point? You want investments risk free? They do NOT exist, investments always have risk, this is a controlled risk, you know you have +EV so you know you are going to get profit eventually and you are not really risking all your money, It would be hard, close to impossible to lose 100 bitcoins if you invested them in a casino.

You are actually risking all your money invested, as you would be losing all of the money if the site owner run away. I have seen people suffering from that a few times in the past.

Which can happen with every investment? I have seen exchanges running away with people's money too, again what's your point? You are always risking your money everywhere but you can avoid innecessary risks by investing in well known and trusted casinos like just dice.

[Buziss]

What's your point? You want investments risk free? They do NOT exist, investments always have risk, this is a controlled risk, you know you have +EV so you know you are going to get profit eventually and you are not really risking all your money, It would be hard, close to impossible to lose 100 bitcoins if you invested them in a casino.

You are actually risking all your money invested, as you would be losing all of the money if the site owner run away. I have seen people suffering from that a few times in the past.

Which can happen with every investment? I have seen exchanges running away with people's money too, again what's your point? You are always risking your money everywhere but you can avoid innecessary risks by investing in well known and trusted casinos like just dice.

Correct, this can happen with every investment and whenever you send your bitcoin to a third party, and that's why people should always be aware of the possibility of losing all their bitcoin in those situations. My point is very simple: You said "you are not really risking all your money" at first. I disagreed and tried to explain why in my previous post.