🌟🎲🌟 MoneyPot.com

[Bit-Exo.com]

[BoXXoB]

What about some kind of variable kelly option investors? Maybe the site maintains a constant kelly criterion, but investors could invest up to a certain kelly level that theyc an specify?

This way each and every investors could determine the risk they want to take, right? And not be controlled by the site. Perhaps this would remove some of the limitations. Please correct me if I got what you meant wrong.

The formula to calculate the effective house edge when multiple small payout bets are multiple together to make effectively one higher payout bet is as follows:
Y=1-H^N
Y= Effective house edge
H= House edge of a single bet
N= number of bets multiple together

Thanks for clarifying this, I always thought that making multiple bets indeed basically increase the house-edge but it's great to have some factual information. Never thought about taking a closer look into it...

[fiscorcle]

Merry Christmas everyone.

Support will be a little slow today and tomorrow (as all of the Moneypot team is celebrating the holidays).  We apologize for that but will try to check in from time to time if there are any issues.

A lot of good points were brought up and I will address them after the holidays (or if I can sneak in some time).  @Fiscorcle, there will be optional kelly multipliers in the future

It's a set kelly though, right? Not like a range? Cuz a rang would be dope, but I don't even know if that would mathematically work

[kolloh]

Merry Christmas everyone.

Support will be a little slow today and tomorrow (as all of the Moneypot team is celebrating the holidays).  We apologize for that but will try to check in from time to time if there are any issues.

A lot of good points were brought up and I will address them after the holidays (or if I can sneak in some time).  @Fiscorcle, there will be optional kelly multipliers in the future

It's a set kelly though, right? Not like a range? Cuz a rang would be dope, but I don't even know if that would mathematically work

Not sure what you mean by a range and I can't think of how that would actually work, but usually you can select from a preset kelly multiplier ( say 1x, 2x, 3x, 4x, 5x, etc ). It is essentially just weighting your invested amount by that multiplier so if you had a range, it wouldn't know how to weight your invested amount appropriately.

[JackpotRacer]

New Rules are going live in the immediate future:

Maximum win 0.5% of bankroll (once commission is changed, will be closer to 1x kelly -- kelly options will be added at a later date)
Minimum house edge of 0.5% (bets below will be rejected by system).


New Measures:

Apps will be cleaned up in preparation for new app levels.  Seriously inactive and broken sites will be deleted.

In the new year, the investor credit plan and personal statistics will be available on each player's profile page.

Any usernames deemed to imitate an other account will be banned (for example: using an upper case ' i ' to act as a lower case ' l ' )

what does immediate future mean? please lets have a time and date thx


Maximum win 0.5% of bankroll (once commission is changed, will be closer to 1x kelly -- kelly options will be added at a later date)
when?

Minimum house edge of 0.5% (bets below will be rejected by system)

when?



New Measures:................
from when on?

[Bit-Exo.com]

It looks like the 0.5% max win is already updated.

[dooglus]

New Rules are going live in the immediate future:

what does immediate future mean? please lets have a time and date thx

"This pattern is used to refer to a time immediately after the moment of speaking, and emphasises that the event or action will happen very soon"

  -- http://www.ef.com/english-resources/english-grammar/immediate-future/

[JackpotRacer]

New Rules are going live in the immediate future:

what does immediate future mean? please lets have a time and date thx

"This pattern is used to refer to a time immediately after the moment of speaking, and emphasises that the event or action will happen very soon"

  -- http://www.ef.com/english-resources/english-grammar/immediate-future/

hi dooglus

thx for the explanation and if I understood it right it is meant/ordered after spoken out.

if it is so I am wondering that for example the following wager and some more were accepted and not rejected


https://www.moneypot.com/bets/762350798
https://www.moneypot.com/bets/762350700
https://www.moneypot.com/bets/762350561
etc

owner of the app is


Username   Role   Appointed At
rmcdermott927   OWNER   11 months ago
MoneyPotSupport   OWNER   2 months ago

[BettorChain.com]

New Rules are going live in the immediate future:

what does immediate future mean? please lets have a time and date thx

"This pattern is used to refer to a time immediately after the moment of speaking, and emphasises that the event or action will happen very soon"

  -- http://www.ef.com/english-resources/english-grammar/immediate-future/

hi dooglus

thx for the explanation and if I understood it right it is meant/ordered after spoken out.

if it is so I am wondering that for example the following wager and some more were accepted and not rejected


https://www.moneypot.com/bets/762350798
https://www.moneypot.com/bets/762350700
https://www.moneypot.com/bets/762350561
etc

owner of the app is


Username   Role   Appointed At
rmcdermott927   OWNER   11 months ago
MoneyPotSupport   OWNER   2 months ago

The HE of these bets is: 0.27%.
They should be not accepted when MoneyPot 2.0 will be released. (0.50% will be the minimum house edge)

[AcoinL.L.C]

New Rules are going live in the immediate future:

what does immediate future mean? please lets have a time and date thx

"This pattern is used to refer to a time immediately after the moment of speaking, and emphasises that the event or action will happen very soon"

  -- http://www.ef.com/english-resources/english-grammar/immediate-future/

hi dooglus

thx for the explanation and if I understood it right it is meant/ordered after spoken out.

if it is so I am wondering that for example the following wager and some more were accepted and not rejected


https://www.moneypot.com/bets/762350798
https://www.moneypot.com/bets/762350700
https://www.moneypot.com/bets/762350561
etc

owner of the app is


Username   Role   Appointed At
rmcdermott927   OWNER   11 months ago
MoneyPotSupport   OWNER   2 months ago

JPR, as dooglus said, it means very soon: it does not mean that moment. I appreciate you are trying to make it sound like we are giving ourselves different rules than others, but be more direct instead of trying to slyly insinuate it.

[JackpotRacer]

New Rules are going live in the immediate future:

what does immediate future mean? please lets have a time and date thx

"This pattern is used to refer to a time immediately after the moment of speaking, and emphasises that the event or action will happen very soon"

  -- http://www.ef.com/english-resources/english-grammar/immediate-future/

hi dooglus

thx for the explanation and if I understood it right it is meant/ordered after spoken out.

if it is so I am wondering that for example the following wager and some more were accepted and not rejected


https://www.moneypot.com/bets/762350798
https://www.moneypot.com/bets/762350700
https://www.moneypot.com/bets/762350561
etc

owner of the app is


Username   Role   Appointed At
rmcdermott927   OWNER   11 months ago
MoneyPotSupport   OWNER   2 months ago

JPR, as dooglus said, it means very soon: it does not mean that moment. I appreciate you are trying to make it sound like we are giving ourselves different rules than others, but be more direct instead of trying to slyly insinuate it.

no need to be sarcastic

but you as MP owner should be the one not to implement or have a lower than 0.5% HE in your own apps and set an example when asking/warning all app owners not to have lower than 0.5% HE

[BetKing.io]

Merry Christmas everyone.

Support will be a little slow today and tomorrow (as all of the Moneypot team is celebrating the holidays).  We apologize for that but will try to check in from time to time if there are any issues.

A lot of good points were brought up and I will address them after the holidays (or if I can sneak in some time).  @Fiscorcle, there will be optional kelly multipliers in the future

You are joking right?
Your dev CrazyCraig jumped in my thread complaining that I'm not allowed a holiday!

Even though what was actually happening was totally different as I'm sure you are aware

[CrazyCraig]

Merry Christmas everyone.

Support will be a little slow today and tomorrow (as all of the Moneypot team is celebrating the holidays).  We apologize for that but will try to check in from time to time if there are any issues.

A lot of good points were brought up and I will address them after the holidays (or if I can sneak in some time).  @Fiscorcle, there will be optional kelly multipliers in the future

You are joking right?
Your dev CrazyCraig jumped in my thread complaining that I'm not allowed a holiday!

Even though what was actually happening was totally different as I'm sure you are aware

I didn't say you weren't allowed a holiday. I said that you had my trust and that I was waiting paitently and I understand why others have the right to frustrated. Look at the context in which I responded. But truthfully, best believe if our site crashed I would be there responding to it.

 I wasn't attacking you, just trying to justify why others were upset to someone who was trolling them. I have no beef towards your site or you.

[AcoinL.L.C]

Merry Christmas everyone.

Support will be a little slow today and tomorrow (as all of the Moneypot team is celebrating the holidays).  We apologize for that but will try to check in from time to time if there are any issues.

A lot of good points were brought up and I will address them after the holidays (or if I can sneak in some time).  @Fiscorcle, there will be optional kelly multipliers in the future

You are joking right?
Your dev CrazyCraig jumped in my thread complaining that I'm not allowed a holiday!

Even though what was actually happening was totally different as I'm sure you are aware

Dean, he posted that before you announced the reason for the site going down, no harm/shade intended. Happy holidays

[DarkStar_]

Huge jackpot wins often lead to unwarranted speculation and panic.  Big wins also sometimes result in big investors pulling out which causes a domino effect of more investors pulling out.

Moneypot also accrues high expenses for processing and storing all the bets. 

In the end, it just doesn't make sense to allow for high multipliers.  It's much easier for many of the parties involved to just keep it simple.

If you ask me, it will be very hard to stop those bets with the way moneypot is set up. You don't even need chained bets (which MP said that they would disable apps that do that, or might), just create a bet like this:

0.01BTC bet

99.99999% (or whatever chance) to lose 10 satoshi
0.00001 (or whatever chance) to win 1 Bitcoin

It would only need a 100 multiplier, technically and still is basically the same as high multiplier bets, except a higher edge is paid so more commission for app owners and MP.

[BetKing.io]

Merry Christmas everyone.

Support will be a little slow today and tomorrow (as all of the Moneypot team is celebrating the holidays).  We apologize for that but will try to check in from time to time if there are any issues.

A lot of good points were brought up and I will address them after the holidays (or if I can sneak in some time).  @Fiscorcle, there will be optional kelly multipliers in the future

You are joking right?
Your dev CrazyCraig jumped in my thread complaining that I'm not allowed a holiday!

Even though what was actually happening was totally different as I'm sure you are aware

Dean, he posted that before you announced the reason for the site going down, no harm/shade intended. Happy holidays

Hi
We spoke already. I was joking around in that post. Maybe it wasn't as obvious as I assumed (usual)

Merry Christmas

[dogedice.me]

I do not see the point in limiting maximum multiplier to 9900x , other dice sites allow multiplier of up to 990000x (for example betking).
You probably should ask investors at what kelly they want to use its nicely implemented at new dice site.

New changes will prevent big percentage of bankroll to be won at once however it will also limit growth rate.

We will soon be allowing users to choose their own kelly multiplier.

Investors have expressed a strong disinterest in backing bets where they risk several bitcoin to win 1 Bit and many other similar scenarios.  

Huge jackpot wins often lead to unwarranted speculation and panic.  Big wins also sometimes result in big investors pulling out which causes a domino effect of more investors pulling out.

Moneypot also accrues high expenses for processing and storing all the bets.  

In the end, it just doesn't make sense to allow for high multipliers.  It's much easier for many of the parties involved to just keep it simple.

You are wrong here. None of the investors from BitDice or BetKing when there were huge wins pulled out, they did exactly opposite - invested more. And we are talking of wins from 500-1000BTC, not 100.

Mathematically there's no difference between very low chance multiplier and very high ones for casino ( and investors ) in the long run.

What you had wrong is very low HE and huge cut on investors. No wonder they aren't satisfied as MP has economically inadequate terms biased for owners who risk nothing and staff who do "close to" nothing ( you do not do marketing, and have no costs except staff )

Regards,
Alex.

[CrazyCraig]

We have several thousand dollars of infrastructure with cost ever increasing

[dogedice.me]

We have several thousand dollars of infrastructure with cost ever increasing

Then you need to optimize code, as it's way over normal price, even if you use whole AWS stack and not dedicated servers which are like x10 lower in running costs.

Regards,
Alex.

[AcoinL.L.C]

I do not see the point in limiting maximum multiplier to 9900x , other dice sites allow multiplier of up to 990000x (for example betking).
You probably should ask investors at what kelly they want to use its nicely implemented at new dice site.

New changes will prevent big percentage of bankroll to be won at once however it will also limit growth rate.

We will soon be allowing users to choose their own kelly multiplier.

Investors have expressed a strong disinterest in backing bets where they risk several bitcoin to win 1 Bit and many other similar scenarios. 

Huge jackpot wins often lead to unwarranted speculation and panic.  Big wins also sometimes result in big investors pulling out which causes a domino effect of more investors pulling out.

Moneypot also accrues high expenses for processing and storing all the bets. 

In the end, it just doesn't make sense to allow for high multipliers.  It's much easier for many of the parties involved to just keep it simple.

You are wrong here. None of the investors from BitDice or BetKing when there were huge wins pulled out, they did exactly opposite - invested more. And we are talking of wins from 500-1000BTC, not 100.

Mathematically there's no difference between very low chance multiplier and very high ones for casino ( and investors ) in the long run.

What you had wrong is very low HE and huge cut on investors. No wonder they aren't satisfied as MP has economically inadequate terms biased for owners who risk nothing and stuff who do "close to" nothing ( you do not do marketing, and have no costs except stuff )

Regards,
Alex.

Alex, you are incorrect. The difference is that the big wins on BitDice and BetKing came from players risking a significant amount of Bitcoin, whereas the big wins on MoneyPot primarily occurred from users betting what is essentially dust. One of our largest investors pulled out specifically citing this has his biggest beef.

I understand you are also salty that a large portion of your userbase switched to MoneyPot (primarily Bit-exo.com), but you need to refrain from trolling.