[MPEx] S.BBET Monthly Statements

[MPOE-PR]

January Results:

*****************
Operational results
*****************

Received 268 new propositions, of which accepted 206, rejected 62.

Revenue : 2`528.7212092 BTC, of which :
bets made : 2`504.32293854 BTC
advertising : 22.00021882 BTC
house bets won : 2.39805184 BTC

Expenditure : 2`521.92173716 BTC, of which :
propositions refunded : 65.27801000 BTC
bets refunded : 51.74250000 BTC
winners paid : 475.49327425 BTC
referrals paid : 1.95967070 BTC<sup>i</sup>
not yet resolved : 1`907.22828221 BTC
house bets made : 20.22000000 BTCⁱⁱ

Profit : 6.79947204 BTCⁱⁱⁱ

*****************
Shareholders table
*****************

Total shares : 10`000`000, of which :
Mircea Popescu 4`255`000 shares,
Matic Kočevar 4`100`711 shares.
Third parties 1`644`289 shares.^iv

Total dividend : 6.79947204 BTC.

*****************
Miscellaneous
*****************

Site only operational since January 5th. Overall pretty good for a first month I would say.

------

i. Over 86 bets. Average bet 2.59 BTC, average referral payment 0.02278686 BTC (87.98%). Referral saturation 8.9% over bet count, 87.6% over bet value. Lot of work still to do, dear affiliates.
ii. Of which 5.01000000 BTC were resolved during the current month.
iii. Because bets made but not yet resolved are not counted this figure could be said to understate actual profit by as much as 80%.
iv. 1`210`500 shares still available as per original IPO terms.

[🏰 TradeFortress 🏰]

Wow, S.BBET is doing great!

Hmm.

Ask: 0.00159900
Bid: 0.00050011
Volume for the past two days: 0

[MPOE-PR]

Wow, S.BBET is doing great!

Hmm.

Ask: 0.00159900
Bid: 0.00050011
Volume for the past two days: 0

Yup, quite the gap there.

[MPOE-PR]

Simplified February Results:

*****************
Operational results
*****************

Received 105 new propositions, of which accepted 62 worth 528.52954038 BTC, rejected 43.

Revenue : 11.82595978 BTC, of which :
From bets resolved : 4.22038204 BTCⁱ
advertising : 3.00006932 BTC
house bets won : 4.60550842 BTCⁱⁱ

Expenditure : 6.3842806 BTC, of which :
referrals paid : 0.18428060 BTCⁱⁱⁱ
house bets made : 6.20000000 BTC

Profit : 5.44167918 BTC to be distributed as dividend.

*****************
Miscellaneous
*****************

Since the BFL bet closed in March the dividend guidance is high for next month - just that bet alone would push profit up 300%.

------
i. 422.03805998 BTC total pool resolved this month.
ii. 7.01000000 BTC worth of house bets were resolved in the current month, putting the house 4.60550842 net a little above even.
iii. Referral saturation even lower than last month. People, you’re leaving BTC on the table here.

[StarenseN]

Thanks, crystal clear.

[Monster Tent]

Seems you can make a winning bet on the site and lose money.....might want to fix that.

[MPOE-PR]

Seems you can make a winning bet on the site and lose money.....might want to fix that.

See here.

[MPOE-PR]

March results:

*****************
Operational results
*****************

Received 143 new propositions, of which accepted 74 worth 1`646.64901255 BTC, rejected 69ⁱ.

Revenue : 58.1270556 BTC, of which :
bets resolved : 26.49215232 BTCⁱⁱ
advertising : 3 BTC
house bets won : 5.39503980 BTCⁱⁱⁱ
gracious donations to shareholders : 23.23986348 BTC^iv

Expenditure : 7.9798355 BTC, of which :
referrals paid : 0.74983555 BTC^v
house bets made : 7.23000000 BTC

Profit : 50.1472201 BTC to be distributed as dividends.

*****************
Miscellaneous
*****************

Nice month. Best of luck to all.

———
i. Up 36%, 19%, 211%, 60% respectively. The huge increase in BTC inflow reflects in small part the longer month (31 days in March vs 28 days in February) and in large part successful marketing, competent management and increased market presence of BitBet.

Note that this figure does not include any of the ~1800 BTC part of the large March BFL bet. While many seem to believe that strengthening of BTC in fiat terms will bring a lowering of wagers the converse seems to be true here. Graph :



ii. 2,649.21492883 BTC total pool resolved this month.

iii. 7.77000000 BTC worth of house bets were resolved in the current month, putting the house’s 5.39503980 BTC well above even.

iv. As per the FAQ, BTC sent to expired addresses are not returned but distributed as dividends.

In rare cases this would represent a first bet sent to a betting address later than 72 hours after its creation (hasn’t happened yet). In most cases this represents BTC which was sent after the event, in an attempt to leech from the betting pool, only to have the bet closed before the transaction confirms (thus no refund).

For instance a good chunk of this month’s generous donation comes from somebody who tried to bet on BTC/USD rate being over 50 after it in fact crossed, and carefully not including a mining fee in his transaction (why pay the miners, right ?) which ensured his transaction came through about six hours after the bet was closed. His altruist generosity is muchly appreciated. On behalf of all the shareholders, plus the bettors you thought you were smarter than, plus the world in general : thank you.

v. Certainly the month’s largest percentual increase is the referrals paid sum, up 300% from last month. Very nice, keep it coming, we want to see 1k BTC+ on this line.

[Peter Lambert]

Nice increase of profit over the previous month. Hopefully we will continue to see the profit increase by 10x each month

[MPOE-PR]

Nice increase of profit over the previous month. Hopefully we will continue to see the profit increase by 10x each month

That doesn't seem likely.

[🏰 TradeFortress 🏰]

Hmm?

You spent 7 BTC on house bets, you won 5 BTC. Not the other way around (unless your numbers were wrong).

[🏰 TradeFortress 🏰]

Nice increase of profit over the previous month. Hopefully we will continue to see the profit increase by 10x each month

That doesn't seem likely.

10x per month continuously is too much, but S.BBET is probably on a trajectory to surpass S.DICE is markey capitalization eventually for the simple reason that dice are boring while Kim Jung Un and Carlos Beltran are not.

Hmm?

You spent 7 BTC on house bets, you won 5 BTC. Not the other way around (unless your numbers were wrong).

The advertising obliterates the need for Mircea and Matic to be perfect handicapers. It's a gambling site rather than a pretend hedgefund like BitBillions.

Referring to this here:

"iii. 7.77000000 BTC worth of house bets were resolved in the current month, putting the house’s 5.39503980 BTC well above even."

[MPOE-PR]

Hmm?

You spent 7 BTC on house bets, you won 5 BTC. Not the other way around (unless your numbers were wrong).

There's some confusion at work, let's dispel.

The expenditure house bets line lists the total house bets made during the month. This happens every time someone introduces a new bet, because the house finances it.

The revenue house bets line lists the total won for house bets made at any prior point just as long as the bets were settled this month. Because of this expenditure above simply contributes to the downline of further months: if someone makes a bet in March that expires in May then a .1 BTC charged by the house in March will perhaps turn up as revenue in May.

The statistical expectation is for the house to win ~50% of the bets it makes, by value. The remainder goes to pay the people putting bets in. This is by design, what they call a loss leader.

[kokojie]

Hmm?

You spent 7 BTC on house bets, you won 5 BTC. Not the other way around (unless your numbers were wrong).

There's some confusion at work, let's dispel.

The expenditure house bets line lists the total house bets made during the month. This happens every time someone introduces a new bet, because the house finances it.

The revenue house bets line lists the total won for house bets made at any prior point just as long as the bets were settled this month. Because of this expenditure above simply contributes to the downline of further months: if someone makes a bet in March that expires in May then a .1 BTC charged by the house in March will perhaps turn up as revenue in May.

The statistical expectation is for the house to win ~50% of the bets it makes, by value. The remainder goes to pay the people putting bets in. This is by design, what they call a loss leader.

Yes the house bet a great feature, this was one of the reasons that made me move from betsofbitco.in to bitbet (fast resolution was the other reason). 

But as a shareholder of s.bbet, I feel the house take percentage is a bit low. Compare with betsofbitco.in's 5% house take, I feel you are leaving money on the table. I think it is in the interest of the shareholders to gradually increase the percentage to at least 2% or more.

[MPOE-PR]

Yes the house bet a great feature, this was one of the reasons that made me move from betsofbitco.in to bitbet (fast resolution was the other reason). 

But as a shareholder of s.bbet, I feel the house take percentage is a bit low. Compare with betsofbitco.in's 5% house take, I feel you are leaving money on the table. I think it is in the interest of the shareholders to gradually increase the percentage to at least 2% or more.

Betsofbitco.in is a very poor comparison for anything, unless it's fraud or something.

It's nice to see the reverse argument, last month there was a rash of "you should charge even less". I guess things balance out in time.

[Peter Lambert]

Yes the house bet a great feature, this was one of the reasons that made me move from betsofbitco.in to bitbet (fast resolution was the other reason). 

But as a shareholder of s.bbet, I feel the house take percentage is a bit low. Compare with betsofbitco.in's 5% house take, I feel you are leaving money on the table. I think it is in the interest of the shareholders to gradually increase the percentage to at least 2% or more.

Betsofbitco.in is a very poor comparison for anything, unless it's fraud or something.

It's nice to see the reverse argument, last month there was a rash of "you should charge even less". I guess things balance out in time.

Is there anywhere to compare the volume of bitbet and betsofbitcoin?

[MPOE-PR]

Is there anywhere to compare the volume of bitbet and betsofbitcoin?

Not really. BitBet publishes the totals and is also fully blockchained and so transparent. Betsofbitco.in other than being run by a very questionable character is also very opaque (funny how that works).

[kokojie]

Also, what's up with the downtime in the past two days, every morning I try to got to bitbet, and it's down.

[kakobrekla]

Also, what's up with the downtime in the past two days, every morning I try to got to bitbet, and it's down.

There was a scheduled downtime yesterday to take care of some server updates - unfortunately it took much longer than expected and we are still working on some unexpected problems that arisen. Another short downtime is possible, should be back to smooth sailing afterwards.

[dance4x]

Have there been any discussions on making the bet formula a bit simpler? Perhaps showing Decimal or American odds instead of the current weight system. I feel like people would be more likely to place a bet if it was easy to understand their possible winnings. It would also be nice if the possible outcome of the bet was displayed on the page where you type in your bitcoin address. For example, if the odds were 50/50 and you placed a 1btc bet it would say something about how you get 2 btc if you win the bet. This kind of thing seems to be readily available on most of the sports gambling websites I have used in the past, and it is always a welcomed feature.