🌟🎲🌟 MoneyPot.com

[BillyBurns]

A real person wouldn't gamble if they started at a penny minimum bet if they walked in with $10k.  That said, it's easier to play this way if you had bots doing it for you automatically (19 bets).  Vegas must have a reason for doing it this way.  Just a thought.

It's actually more related to the cost of doing business. If you have a table with a player that is starting out at a penny, you get, let's say 30 hands per hour on average. That's a $0.30 return, while you're paying someone $15/hr for doing that. There are a lot of overheads of casinos that online sites aren't faced with. Add in things like security, other personnel, rent, etc. and it goes up. They base the minimum bets around what is worth it to them: if it's not worth the time to do a $5 hand but it is worth it for $10, they will set the min at 10.

Casino Dealers makes minimum wage they get the majority of there income from tips, they do make good money however, my roommate is a dealer at a major casino so I know first hand.

[Michail1]

It's actually more related to the cost of doing business. If you have a table with a player that is starting out at a penny, you get, let's say 30 hands per hour on average. That's a $0.30 return, while you're paying someone $15/hr for doing that. There are a lot of overheads of casinos that online sites aren't faced with. Add in things like security, other personnel, rent, etc. and it goes up. They base the minimum bets around what is worth it to them: if it's not worth the time to do a $5 hand but it is worth it for $10, they will set the min at 10.

I don't agree.  Casinos have many tables.  They are all the same with players and dealers.   Some are $1-$500 limits while others are $5 - $1000 and up the chain.  Sure, if the casino is full and they want to pull more money in (over the long run), they will change the limits, but always keeping to the betting ranges.  As customers leave (for a show, eating, sleeping), they then start to drop table limits and/or simply shut tables down.

My point was not that they start at a penny.  It was that there are betting ranges to stop the bet doubles after a limited number of bets.  A casino has to keep the lights on (sure), and they don't want people coming in with $100k and nickle/diming them by bet doubling starting at $5. (14+ consecutive bets).

I am not suggesting MP make this type of change.  Also, MP is able to handle more than 30 hands per hour.  

[ranlo]

It's actually more related to the cost of doing business. If you have a table with a player that is starting out at a penny, you get, let's say 30 hands per hour on average. That's a $0.30 return, while you're paying someone $15/hr for doing that. There are a lot of overheads of casinos that online sites aren't faced with. Add in things like security, other personnel, rent, etc. and it goes up. They base the minimum bets around what is worth it to them: if it's not worth the time to do a $5 hand but it is worth it for $10, they will set the min at 10.

I don't agree.  Casinos have many tables.  They are all the same with players and dealers.   Some are $1-$500 limits while others are $5 - $1000 and up the chain.  Sure, if the casino is full and they want to pull more money in (over the long run), they will change the limits, but always keeping to the betting ranges.  As customers leave (for a show, eating, sleeping), they then start to drop table limits and/or simply shut tables down.

My point was not that they start at a penny.  It was that there are betting ranges to stop the bet doubles after a limited number of bets.  A casino has to keep the lights on (sure), and they don't want people coming in with $100k and nickle/diming them by bet doubling starting at $5. (14+ consecutive bets).

I am not suggesting MP make this type of change.  Also, MP is able to handle more than 30 hands per hour. 

I completely agree on the limits. The last time I was at the casino I thought about trying a mini-martingale to see how it did, on roulette. Decided to watch for a bit instead. Saw 13 reds in a row there, which would have been far above the maximum bet they allowed there if you were doubling black. Never really considered that as being part of a purposeful limit to keep people from being able to bet large with martingale, though, but looking back on it, that does make sense. I always figured it was more about having too much money at one of the tables/risk mitigation.

[zero1ten]

Anyone here can guide me how to invest for this site? I am interested. Is there a minimum amount of bitcoins for the initial capital? I trust this one, it seems a lot of gamble site here was linked here. I want to try and to know how it works.

Minimum for investing is 0.001, just go and register on the site, then just look for the investment tab on the account dashboard.

[dooglus]

The 20btc cap was in place but setup incorrectly.  This is on us, but investors were not affected.

Ouch.

For simplicity and ease of coding, we are heavily discussing the possibility of abandoning kelly criterion completely and implementing a straight forward 1% of bankroll max win with a mandatory minimum house edge of 0.75%.

Note that this will lead to very small max bets for the "2x plus jackpot" type bets. If someone is aiming for 2x and (million)x in a siingle roll you'll have to use the (million)x to limit the bet size. If your bankroll is 1000 BTC then the max win will be 10 BTC (1% of the bankroll), and so the max bet will be just 10 bits. Seems to me that pretty much kills off the lottery/jackpot style games.

if player wins after taking such big risk and he get only 20 BTC means then it is considered as cheating to players.

Luckily it seems this didn't happen. Nobody won more than 20 BTC since the buggy limit was put in place. Some players will have been aiming to win more than 20 BTC though, and it's not clear how to refund them.

If I had bet 1 BTC aiming to win 100 BTC and missed, what refund am I due? If I had hit, I would only have won 20 BTC, or 20% of my intended jackpot. So perhaps the bet should only have cost me 20% of what I paid, and so I should get a 0.80 BTC refund. That seems clear enough. But what about for the custom bets. If I bet 1 BTC aiming to win either 10 BTC *or* 100 BTC and hit just the 10 BTC part, do I still get the 0.80 BTC refund? That part of the bet could only even have won 20% of the intended amount, but the other part won the full amount. It's kind of confusing to think about. I hope the MoneyPot guys work out a way of refunding people that's fair to both players and investors.

[AppleBTC]

Is there any divest fee if you divest your investment in moneypot?

[DarkStar_]

Minimum for investing is 0.001, just go and register on the site, then just look for the investment tab on the account dashboard.

There isn't a minimum. https://i.imgur.com/HMehCnp.gifv

Is there any divest fee if you divest your investment in moneypot?

Nope.

[Michail1]

Luckily it seems this didn't happen. Nobody won more than 20 BTC since the buggy limit was put in place. Some players will have been aiming to win more than 20 BTC though, and it's not clear how to refund them.

If I had bet 1 BTC aiming to win 100 BTC and missed, what refund am I due? If I had hit, I would only have won 20 BTC, or 20% of my intended jackpot. So perhaps the bet should only have cost me 20% of what I paid, and so I should get a 0.80 BTC refund. That seems clear enough. But what about for the custom bets. If I bet 1 BTC aiming to win either 10 BTC *or* 100 BTC and hit just the 10 BTC part, do I still get the 0.80 BTC refund? That part of the bet could only even have won 20% of the intended amount, but the other part won the full amount. It's kind of confusing to think about. I hope the MoneyPot guys work out a way of refunding people that's fair to both players and investors.

Why would they refund anyone that didn't win?  If they won, they would have been entitled to it since the bet was accepted.  And, they said they would have paid out.

Asking 'what if' is kind of pointless.

[BillyBurns]

Luckily it seems this didn't happen. Nobody won more than 20 BTC since the buggy limit was put in place. Some players will have been aiming to win more than 20 BTC though, and it's not clear how to refund them.

If I had bet 1 BTC aiming to win 100 BTC and missed, what refund am I due? If I had hit, I would only have won 20 BTC, or 20% of my intended jackpot. So perhaps the bet should only have cost me 20% of what I paid, and so I should get a 0.80 BTC refund. That seems clear enough. But what about for the custom bets. If I bet 1 BTC aiming to win either 10 BTC *or* 100 BTC and hit just the 10 BTC part, do I still get the 0.80 BTC refund? That part of the bet could only even have won 20% of the intended amount, but the other part won the full amount. It's kind of confusing to think about. I hope the MoneyPot guys work out a way of refunding people that's fair to both players and investors.

Why would they refund anyone that didn't win?  If they won, they would have been entitled to it since the bet was accepted.  And, they said they would have paid out.

Asking 'what if' is kind of pointless.

This makes sense to me if they would have paid it out.

[fullypak]

Luckily it seems this didn't happen. Nobody won more than 20 BTC since the buggy limit was put in place. Some players will have been aiming to win more than 20 BTC though, and it's not clear how to refund them.

If I had bet 1 BTC aiming to win 100 BTC and missed, what refund am I due? If I had hit, I would only have won 20 BTC, or 20% of my intended jackpot. So perhaps the bet should only have cost me 20% of what I paid, and so I should get a 0.80 BTC refund. That seems clear enough. But what about for the custom bets. If I bet 1 BTC aiming to win either 10 BTC *or* 100 BTC and hit just the 10 BTC part, do I still get the 0.80 BTC refund? That part of the bet could only even have won 20% of the intended amount, but the other part won the full amount. It's kind of confusing to think about. I hope the MoneyPot guys work out a way of refunding people that's fair to both players and investors.

Why would they refund anyone that didn't win?  If they won, they would have been entitled to it since the bet was accepted.  And, they said they would have paid out.

Asking 'what if' is kind of pointless.

But as per the terms, they do not suppose to accept that big bet but due to the system failure or not updated yet they have accepted it. So it is mistake, and error should be corrected if anyone betted higher than allowed bet amount whether they win or loss.

[dooglus]

Why would they refund anyone that didn't win?

1. because that's the right thing to do.
2. because they already stated that they will:

We also realize that this was unfair to any player (there were only a very short few) that had an accepted bet that showed a higher payout than 20 bitcoin. We will be reviewing all those that were affected and contact them to credit their accounts for more than their potentially lost equity.

They wouldn't have paid out winnings over 20 BTC and so will be refunding stakes accordingly.

If they won, they would have been entitled to it since the bet was accepted.  And, they said they would have paid out.

Can you quote them saying that?

[Dogedigital]

We've gone ahead and credited the players that were affected out of pocket.

There were four 50,000 bits wagers that had won the main bet but carried along a sidejackpot that exceeded the 20BTC cap.  They were all fully refunded and allowed to keep the winnings (they all resulted in winning bets).

There were a few dust lottery that barely exceeded the 20 BTC cap.  These players were credited with an amount that covered well above the summation of their bets.

[gapjustin]

We've gone ahead and credited the players that were affected out of pocket.

There were four 50,000 bits wagers that had won the main bet but carried along a sidejackpot that exceeded the 20BTC cap.  They were all fully refunded and allowed to keep the winnings (they all resulted in winning bets).

There were a few dust lottery that barely exceeded the 20 BTC cap.  These players were credited with an amount that covered well above the summation of their bets.

I can confirm that I was refunded my bits!
Thanks alot for the refund :3

[RustyNoman]

How many bets per day are placed on moneypot?I'm curious because of signature More Bitcoin BETS a day than all other crowdfunded casinos combined!

[Emerge]

How many bets per day are placed on moneypot?I'm curious because of signature More Bitcoin BETS a day than all other crowdfunded casinos combined!

We've been doing at least 2,500,000 a day for a while.

BK does about 75k, BD does about 100k, CG about 600k, SatD about 300k, and SD 500,000.

Yup. There are so many bets coming from Betterbets so there's huge amount of betting traffic everyday for Moneypot..
which is why moneypot should also take care of its app owners haha.

[DogecoinMachine]

How many bets per day are placed on moneypot?I'm curious because of signature More Bitcoin BETS a day than all other crowdfunded casinos combined!

We've been doing at least 2,500,000 a day for a while.

BK does about 75k, BD does about 100k, CG about 600k, SatD about 300k, and SD 500,000.

We're having about 2,000,000 BTC bets per day for quite some time now (that's only on dice game)



so total from all other crowdfunded sites is around 3 mio.

[DogecoinMachine]

Nov 14:

BK: 136,160
BD: 106,867
SATD: 70,945
CG: 1,844,313
SD: 308,872
--------------
2,467,157

Moneypot: 2,729,811

And bitvest? The numbers are close and I doubt mp is in the lead every day.
where to see public moneypot daily stats?

[BoXXoB]

Nov 14:

BK: 136,160
BD: 106,867
SATD: 70,945
CG: 1,844,313
SD: 308,872
--------------
2,467,157

Moneypot: 2,729,811

And bitvest? The numbers are close and I doubt mp is in the lead every day.
where to see public moneypot daily stats?

I also doubt this is the case on most days. I'd also like to see some stats. Would give something to compare to and base my opinion. I have no doubt about the numbers though. Interesting comparison.

[BoXXoB]

Nov 14:

BK: 136,160
BD: 106,867
SATD: 70,945
CG: 1,844,313
SD: 308,872
--------------
2,467,157

Moneypot: 2,729,811

And bitvest? The numbers are close and I doubt mp is in the lead every day.
where to see public moneypot daily stats?

Stats can be found at eeeth.com/mpstats.

I couldn't find too many statistics on bitvest.  I believe they did 400,000 yesterday which is a large amount above what they used to be producing probably because of the new dice they implemented.

There are days where other sites will have spikes in volume.

Moneypot won't have more every single day, but it does consistently produce just as many or more than the rest combined.

I've put my signature now to 'As many bets as all other crowdfunded casinos combined' which I believe is a fair statement that can be backed by the data available (at least way more accurate than unsubstantiated advertised #1 site).

Any comparison about how much wagered daily? I think that would be the more interesting number out of the two. Doubt moneypot does too bad at that either. That depends a lot on the day though. Seems like on BetKing etc. a single whale could produce most of the wagered so it's sometimes very occasional.

[dooglus]

We've gone ahead and credited the players that were affected out of pocket.

There were four 50,000 bits wagers that had won the main bet but carried along a sidejackpot that exceeded the 20BTC cap.  They were all fully refunded and allowed to keep the winnings (they all resulted in winning bets).

There were a few dust lottery that barely exceeded the 20 BTC cap.  These players were credited with an amount that covered well above the summation of their bets.

That's a good way of resolving things. Well done.

We've been doing at least 2,500,000 a day for a while.

BK does about 75k, BD does about 100k, (edit) CG about 1.8M, SatD about 300k, and SD 500,000.

I've put my signature now to 'As many bets as all other crowdfunded casinos combined' which I believe is a fair statement that can be backed by the data available

Just-Dice.com is a crowdfunded casino. It had 20 million bets in the last 7 days. That's about 2.85 million bets per day.

In the 710 days that the site has been up it has had 2.024 billion bets. That's also 2.85 million bets per day.

Now Just-Dice uses CLAMs, not BTC. But can it really be true that Just-Dice has more bets than any other crowdfunded casino? That seems unlikely to me, given the relative lack of interest in CLAM.

Either way, your "As many bets as all other crowdfunded casinos combined" is clearly wrong. You don't even have as many bets as Just-Dice, let alone more than all the others combined.