Chain-Bet.com | On Chain | No KYC | 15x Win | Provably Fair | Since 2016

[DarkStar_]

Right now, there is an interesting stat on dashboard. From Bet ID 4846 to 4949, 50 bets have been placed. Within this range, BTC 0.26076945 has been wagered and BTC 0.2511744 has been won through 6 distinct win. This is more than 96%.

What's so interesting about players loosing only 4% in a game with a house edge of 12.5% 37.5%? That they would have beat variance and made a profit if they didn't play at such a stupid high house edge?

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[DutchDemon]

Right now, the stat on dashboard is more impressive for gamblers. From Bet ID 4886 to 4959, 50 bets have been placed. Within this range, BTC 0.35156819 has been wagered and BTC 0.3948476 has been won through 7 distinct win. This is more than 112%.

Right now, there is an interesting stat on dashboard. From Bet ID 4846 to 4949, 50 bets have been placed. Within this range, BTC 0.26076945 has been wagered and BTC 0.2511744 has been won through 6 distinct win. This is more than 96%.

What's so interesting about players loosing only 4% in a game with a house edge of 12.5%? That they would have beat variance and made a profit if they didn't play at such a stupid high house edge?

I don't know how you have calculated the house edge to be 12.5%. The way I have learnt to calculate the house edge, it is 37.5%.

But, I always felt, this house edge does NOT represent the chance of win equally for every game. It varies from game to game relying on the how the random number is calculated. Given the same house edge, for some reason, gamblers do lose more on games that calculates random number internally, than games that takes it from independent third party, such as blockchain.

This is just an observation and I can't back it up with mathematics or logic as of now. But, as you know, probability is NOT an exact science and it is more of a precision which varies on various factors.

[praine]

It all comes out in the wash.

Let's say you have bet sizes of $1 to account for a large degree of variance:

With this game, you are expected to lose $375,000 for every $1,000,000 you bet.
With a 1% dice game, you are expected to lose $10,000 for every $1,000,000 you bet.

I am honestly surprised to see this topic bumped to the front page, after the math has been made explicit many times over.

[DarkStar_]

It all comes out in the wash.

Let's say you have bet sizes of $1 to account for a large degree of variance:

With this game, you are expected to lose $375,000 for every $1,000,000 you bet.
With a 1% dice game, you are expected to lose $10,000 for every $1,000,000 you bet.

I am honestly surprised to see this topic bumped to the front page, after the math has been made explicit many times over.

It's always bumped because at least one of their investors has multiple shill accounts they use to promote the site.

[adaseb]

I think these onchain Bitcoin betting sites used to be pretty big back in the day before casinos started accepting XMR.

Now that many casinos accept altcoins like XMR or ZEC there is less demand for anonymous onchain betting websites such as this.

So they got away a few years back with the higher house edge, people were willing to pay extra just for privacy but these days it makes no sense.

That and after the huge 500 sat/byte fees for BTC transactions in the beginning of 2017. Many of the other onchain betting sites like secondstrade all shut down.

[DutchDemon]

Right now, the stat on dashboard is even more impressive for gamblers. From Bet ID 4910 to 4983, 50 bets have been placed. Within this range, BTC 0.40999977 has been wagered and BTC 0.5154958 has been won through 6 distinct win. This is more than 125%.

Now that many casinos accept altcoins like XMR or ZEC there is less demand for anonymous onchain betting websites such as this.

BTC is BTC. XMR or ZEC will never get its place.

[runz]

Right now, the stat on dashboard is even more impressive for gamblers. From Bet ID 4910 to 4983, 50 bets have been placed. Within this range, BTC 0.40999977 has been wagered and BTC 0.5154958 has been won through 6 distinct win. This is more than 125%.

Now that many casinos accept altcoins like XMR or ZEC there is less demand for anonymous onchain betting websites such as this.

BTC is BTC. XMR or ZEC will never get its place.

If there is so much to win, why are you not playing this game? In the last two weeks there were only three bets and all of them are lost.

[DutchDemon]

Right now, the stat on dashboard is even more impressive for gamblers. From Bet ID 4910 to 4983, 50 bets have been placed. Within this range, BTC 0.40999977 has been wagered and BTC 0.5154958 has been won through 6 distinct win. This is more than 125%.

Now that many casinos accept altcoins like XMR or ZEC there is less demand for anonymous onchain betting websites such as this.

BTC is BTC. XMR or ZEC will never get its place.

If there is so much to win, why are you not playing this game? In the last two weeks there were only three bets and all of them are lost.

I am sorry, you seem to have misunderstood my point. I am not a gambler, but an investor. Hence, I am looking at it from an investor's perspective.

In the last 3 post in this thread, I am trying to point out the same thing I said in the investor's private channel. That is, this game is becoming loss making for investors. Me with few other requested multiple times to the operator to decrease the payout from 10x to 8x. But, operator is not agreeing to the idea. Hence, many of us pulled out our investment from the bankroll.

I hope, operator revisit the current bet data and re-consider our request...

[DarkStar_]

In the last 3 post in this thread, I am trying to point out the same thing I said in the investor's private channel. That is, this game is becoming loss making for investors. Me with few other requested multiple times to the operator to decrease the payout from 10x to 8x. But, operator is not agreeing to the idea. Hence, many of us pulled out our investment from the bankroll.

I hope, operator revisit the current bet data and re-consider our request...

Hilarious how investors can't handle variance with a 37.5% house edge 

[BTCevo]

Right now, the stat on dashboard is even more impressive for gamblers. From Bet ID 4910 to 4983, 50 bets have been placed. Within this range, BTC 0.40999977 has been wagered and BTC 0.5154958 has been won through 6 distinct win. This is more than 125%.

Now that many casinos accept altcoins like XMR or ZEC there is less demand for anonymous onchain betting websites such as this.

BTC is BTC. XMR or ZEC will never get its place.

If there is so much to win, why are you not playing this game? In the last two weeks there were only three bets and all of them are lost.

I am sorry, you seem to have misunderstood my point. I am not a gambler, but an investor. Hence, I am looking at it from an investor's perspective.

In the last 3 post in this thread, I am trying to point out the same thing I said in the investor's private channel. That is, this game is becoming loss making for investors. Me with few other requested multiple times to the operator to decrease the payout from 10x to 8x. But, operator is not agreeing to the idea. Hence, many of us pulled out our investment from the bankroll.

I hope, operator revisit the current bet data and re-consider our request...

I do not understand why you should pull out your investment there? In a long term most of the investors will get their ROi back but when you decrease it then it will take longer time just to get your ROI back. In the mean time, I do not think that they want to do that as well because the bankroll will sure be decreased and it will affect the players as well. It is really high risk to do that in the middle of the game

[RocketSingh]

Right now, the stat on dashboard is even more impressive for gamblers. From Bet ID 4910 to 4983, 50 bets have been placed. Within this range, BTC 0.40999977 has been wagered and BTC 0.5154958 has been won through 6 distinct win. This is more than 125%.

Now that many casinos accept altcoins like XMR or ZEC there is less demand for anonymous onchain betting websites such as this.

BTC is BTC. XMR or ZEC will never get its place.

If there is so much to win, why are you not playing this game? In the last two weeks there were only three bets and all of them are lost.

I am sorry, you seem to have misunderstood my point. I am not a gambler, but an investor. Hence, I am looking at it from an investor's perspective.

In the last 3 post in this thread, I am trying to point out the same thing I said in the investor's private channel. That is, this game is becoming loss making for investors. Me with few other requested multiple times to the operator to decrease the payout from 10x to 8x. But, operator is not agreeing to the idea. Hence, many of us pulled out our investment from the bankroll.

I hope, operator revisit the current bet data and re-consider our request...

What you did here is highly unethical IMHO. We, the investors, have had many discussion regarding how can we do better. But, that was for the private channel. No point in discussing the same here out in the open.

[DutchDemon]

Right now, the stat on dashboard is even more impressive for gamblers. From Bet ID 4910 to 4983, 50 bets have been placed. Within this range, BTC 0.40999977 has been wagered and BTC 0.5154958 has been won through 6 distinct win. This is more than 125%.

Now that many casinos accept altcoins like XMR or ZEC there is less demand for anonymous onchain betting websites such as this.

BTC is BTC. XMR or ZEC will never get its place.

If there is so much to win, why are you not playing this game? In the last two weeks there were only three bets and all of them are lost.

I am sorry, you seem to have misunderstood my point. I am not a gambler, but an investor. Hence, I am looking at it from an investor's perspective.

In the last 3 post in this thread, I am trying to point out the same thing I said in the investor's private channel. That is, this game is becoming loss making for investors. Me with few other requested multiple times to the operator to decrease the payout from 10x to 8x. But, operator is not agreeing to the idea. Hence, many of us pulled out our investment from the bankroll.

I hope, operator revisit the current bet data and re-consider our request...

What you did here is highly unethical IMHO. We, the investors, have had many discussion regarding how can we do better. But, that was for the private channel. No point in discussing the same here out in the open.

It is easy to spell ethical lessons, but difficult to deny the reality. Current state of the board even proves my point further...

From Bet ID 4922 to 5009, 50 bets have been placed. Within this range, BTC 0.46027068 has been wagered and BTC 0.6754958 has been won through 8 distinct win. This is more than 146%.

[pussyhunter6969]

Your conditions are  : If the above is correct, please send your bet amount to the following address. Please send only one transaction to the generated address. Only the first transaction received by the generated address will be considered as bet and all further transactions will be considered as donation. Minimum amount of bet to be placed is 0.00025 BTC. Maximum amount of bet allowed is 0.025 BTC. The address will be valid for next half an hour.


PROBLEM is : i deposit and you can delete a bet ? you can simply ignore it and since address are generated for bet, there is no way to link them up.i would suggest you do not dynamically generate address, allow users to choose a address from your xpub.

i never knew your site existed, my website is like a better version of you https://skobet.com

also your house edge is hard to calculate, can you please explain it ?


update :
i find 6% house edge stupid , no offence but please reduce house edge

[Bitcoin Gambling]

PROBLEM is : i deposit and you can delete a bet ? you can simply ignore it and since address are generated for bet, there is no way to link them up.i would suggest you do not dynamically generate address, allow users to choose a address from your xpub.

The process we follow to accept deposit is standard across Bitcoin industry. Forget gambling, even BIG exchanges provide you an address to pay for. If you have doubt, you can always test by depositing a small amount. Taking screenshot before your deposit is another option. Moreover, all our deposits get forwarded to a central address, i.e. 3BsadqM15YQFkoX8LUV7d8Kg8UUXNteiLi. Validity of any bet can also be verified from that.

Regarding XPUB, we wont take that route right now, as majority of gamblers might not be technically proficient enough to understand it.

i never knew your site existed, my website is like a better version of you https://skobet.com

Excellent. I wish you all the best. But, cross promotion does not create a good impression.

also your house edge is hard to calculate, can you please explain it ?


update :
i find 6% house edge stupid , no offence but please reduce house edge

It is not 6%. It is 37.5%. And it will be like this as long as I feel it needs to be so to protect our bankroll.

[Bitcoin Gambling]

Important Update

Chain-Bet.com is now accepting investment in its bankroll. Anyone will find an Invest in Bankroll link at the top right hand corner of Live Gambling Data. Here is the direct link - https://www.chain-bet.com/invest.php. We hereby request everyone, before you invest anything on Chain-Bet, please read the FAQ on investment page carefully. If you have any further question, feel free to ask over here. It would help us to improve our FAQ as well.

Please note that, we have decreased the maximum bet amount to 0.01 BTC, which has been updated on Chain-Bet.com and in OP as well. Minimum bet amount will remain 0.00025 BTC.

To improve our service further, we are now providing a signed message with every deposit address, whether it is for bet or investment. All messages are signed with 1Cc243GvV4s9b2N4cnUJF5Yvxtw4UBU1MW.

[bruboi]

It seems like the number of stupid people who play this game with over 37% house edge are decreasing... but I wish you good luck with your investment

[panjul07]

It seems like the number of stupid people who play this game with over 37% house edge are decreasing... but I wish you good luck with your investment

There is no bets since February, probably the old users of this site has just noticed about the house edge. I wonder why they decided to accept investment while the traffic is so low? Logically, investors will not be interested because the investment will give them nothing as there number of players in regular basis is so low. I think they should make it back to x15 or x16, at least for short time only to regain user interest.

[upsidedown75]

Why do they really exist at all ? Like who the hell keeps playing here? I mean If they have zero bets since February why is it really open ?

Why are they taking investments to begin with I mean after all they have nobody playing here so they have no reason to have a big bankroll at all. If nobody is betting on your site what is the point of calling for more investors to begin with, what were they thinking. What is the point?

Anyway even tough I am doing exactly what I will say don't but seriously maybe we should stop writing here, the website looked cool when it first started but maybe its time we let it die by just not writing here at all. The more we write here the more they stay relevant. Getting a ton of house edge is literally a way of saying we want your money right away and we do not have patience to wait for it.

[Jimmy Wales]

It seems like the number of stupid people who play this game with over 37% house edge are decreasing... but I wish you good luck with your investment

There is no bets since February, probably the old users of this site has just noticed about the house edge. I wonder why they decided to accept investment while the traffic is so low? Logically, investors will not be interested because the investment will give them nothing as there number of players in regular basis is so low. I think they should make it back to x15 or x16, at least for short time only to regain user interest.

I kinda agree with you. They should lower the house edge. But, infrequent gambling activity is not new on chain-bet. In last 3 years, I have witnessed it multiple times. Unavailability of algorithmic bots may be a reason for that.

[Bitcoin Gambling]

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- Maximum amount of bet is 0.005 BTC.

- Minimum amount of investment is 0.5 BTC.


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