betterbetz (OP)
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May 16, 2016, 12:51:51 AM |
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Myself and a mathwizz/programmer have been working on something for a while and are now extending the invitation to a few people here.
Basically we have set up a script with instant bitcoin transactions where 1 player will bet against the other player such as so:
player 1 v player 2 (both place 0.001btc bet) now their is 0.002 in the pot to be won. Winner gets odds of 1.9 and takes 0.0019btc (admin gets 5% profit ie 0.0001btc).
Now the trick is in the next step (guaranteed wins) now player 1 wins and now he goes to the back of the lin and waits for his next bet (infinite loop). Player 2 lost hist first bet and now wins the second bet (no player loses 2 in a row). Each player will lose bet 1 and win bet 2.
Now the only way to make this profitable is to raise the second bet. So player 2 will now play player 3 a5 15% higher (when you lose bet 1 your second bet will always be 15% higher then last to make a profit). Now each bet is 0.00115btc so player 2 takes home 0.002185btc. now with his investment in bet 1 and bet 2 totaling 0.00215he make a profit of 0.000035btc this happens every bet every 10 seconds on auto.
Script is in infinite loop so profits are reinvested so admin and all players keep profiting.
We have been running it in test mode for 24 hours and results are as we planned.
We have 50 players at the moment but plan to add 10 new players per day.
Seriously limited and invitation only so not opening it up to the public.
Buy in is only 0.004 as we need to cover at least 2 bets.
Post here or pm me if you wish to take part in this.
Thanks
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Slow death
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Leading Crypto Sports Betting & Casino Platform
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May 16, 2016, 05:52:44 AM |
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james.lent
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May 16, 2016, 06:06:02 AM |
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This doesnt even make sense. Seems like only the house would make money. lol.
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cryptodevil
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May 16, 2016, 06:24:04 AM |
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We have been running it in test mode for 24 hours and results are as we planned.
I'm sure they are, namely, you receiving a share of an ever-increasing 'wager' amount that isn't going to end well for your players but should, as you planned, be fairly profitable for you. |
WARNING!!! Check your forum URLs carefully and avoid links to phishing sites like 'thebitcointalk' 'bitcointalk.to' and 'BitcointaLLk' |
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opmac
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May 16, 2016, 07:47:02 PM |
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Oh brother
And the house always wins!!!
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betterbetz (OP)
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May 16, 2016, 11:24:57 PM |
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of course the house wins but so do all betters check the math
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cryptodevil
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Thread-puller extraordinaire
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May 17, 2016, 06:36:47 AM |
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of course the house wins but so do all betters check the math
So everybody wins? Wow you and your math 'wizz' buddy suck at math. Script is in infinite loop so profits are reinvested so admin and all players keep profiting. There, the bold part is a more truthful representation. |
WARNING!!! Check your forum URLs carefully and avoid links to phishing sites like 'thebitcointalk' 'bitcointalk.to' and 'BitcointaLLk' |
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betterbetz (OP)
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May 19, 2016, 02:47:26 AM |
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of course the house wins but so do all betters check the math
So everybody wins? Wow you and your math 'wizz' buddy suck at math. Script is in infinite loop so profits are reinvested so admin and all players keep profiting. There, the bold part is a more truthful representation. That was very clever must of taken you a while to come up with that 1. Any way than you for the few people that pm'd me a few more are welcome. Thanks |
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digaran
Copper Member
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🖤😏
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May 19, 2016, 02:58:47 AM |
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So by my math anyone joins this program never wins a thing since they have to lose a bet first, it's just an infinite loop of ponzi. lolz
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🖤😏
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betterbetz (OP)
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May 19, 2016, 03:10:14 AM |
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So by my math anyone joins this program never wins a thing since they have to lose a bet first, it's just an infinite loop of ponzi. lolz
mate read the formula: lose at lower rate and win at higher rate. bet 1: $10 (lose) bet 2 $12 (win) ----------------- spent $22 WIN 22.80 (12 X 1.9) SPENT $22 PROFIT $0.80 (3.63%) OVER AND OVER |
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digaran
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🖤😏
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May 19, 2016, 06:28:47 PM |
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So if middle of the action people stop betting and no new player then the last one is screwed right? since you only can win as long as
A new player comes in and provide fund for the bet in hand.
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🖤😏
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antiuser1
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May 19, 2016, 06:45:57 PM |
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You could break it down to this:
-player 1 invests x
-player n+1 invests x*1.15^n to payout player n with profit (plus profit for you)
-repeat until no new player joins (possibly because the bet for the next round is to high)=> Last player is fucked
...assuming you are not running with the betting pot anyway.
Well, thanks, but no thanks.
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