Betcoin.ag - $10,000 NFL Confidence Pool🏈 - Over 5,000 Casino Games🎰

[DarkDays]

It's "early next week".  I assume everyone has all of their stolen money back?

[Flagship11]

It's still early this week, but Im hoping Betcoin comes through.

[Flagship11]

Any updates?

[DarkDays]

SHOCKED!

[Betcoin.AG]

POKER TO RETURN TO BETCOIN.AG

In our attempt to calculate and repay Bad Beat Jackpot contributions precisely to those players that contributed them it was determined that each contribution cannot be determined with 100% accuracy. Without this 100% transparency and accuracy we believe the redistribution was unacceptable.

Full article here:  https://www.betcoin.ag/poker-return-betcoinag

[Lutpin]

fuck me, this is amusing.

[DarkDays]

POKER TO RETURN TO BETCOIN.AG

In our attempt to calculate and repay Bad Beat Jackpot contributions precisely to those players that contributed them it was determined that each contribution cannot be determined with 100% accuracy. Without this 100% transparency and accuracy we believe the redistribution was unacceptable.

Full article here:  https://www.betcoin.ag/poker-return-betcoinag

What work had you done up though last Friday?

What work had you done up though "early this week"?

Please post the spreadsheet that you've been working on, it must be nearly complete.

Please sign a wallet with all of the BBJ funds in it.

Oh, are US players still banned?  If no, why not?

[iluvbitcoins]

I know the win was 1007BTC but what's a rough estimate of the BBJ total contributions in BTC?

Betcoin will always be a notoriously shady and untrustworthy operation.

New owners, new management, it doesnt matter.  They will be forever tarnished as being a non-trustworthy brand in this space.

Fuck no.
If the new management pays out, they're going to be quite reputable, depending on the amount.
*if it is new management*

[Lutpin]

If the new management pays out, they're going to be quite reputable, depending on the amount.

Do you even read the posts above yours?

[iluvbitcoins]

If the new management pays out, they're going to be quite reputable, depending on the amount.

Do you even read the posts above yours?

Read the last 2 pages and some old threads, what's your point?

[Betcoin.AG]

The last few weeks were spent determining whether we had all the information to make the payouts 100% accurate. When we determined that we did not, we decided that this was the fastest way to get the BBJ paid out quickly and fairly. We will be lowering the hand requirement to hit and all other rules will remain the same until it is paid out in full. This will give several groups of people the opportunity to win large amounts.

[DarkDays]

The last few weeks were spent determining whether we had all the information to make the payouts 100% accurate. When we determined that we did not, we decided that this was the fastest way to get the BBJ paid out quickly and fairly. We will be lowering the hand requirement to hit and all other rules will remain the same until it is paid out in full. This will give several groups of people the opportunity to win large amounts.

Haaaaaaaaaaaaaaaahahhahaha.  So you admit you don't have the money that you stole and are paying out the BBJ partially?  That's hilarious.

Also

What work had you done up though last Friday?

What work had you done up though "early this week"?

Please post the spreadsheet that you've been working on, it must be nearly complete.

Please sign a wallet with all of the BBJ funds in it.

Oh, are US players still banned?  If no, why not?

[DarkDays]

Relevant BBJ quotes from Betcoin over the last month.  Notice how on the 2nd they were working on it, and on the 12th they were CONTINUING to work on it, and had done so much work already that they were employing former members in order to parse the data!

Where is this work?  Post it here.  You claimed that multiple people did three weeks worth of work.  Post your results.  Even if they can't be verified 100% (which...of course they can be), you should still show what you've been doing for the last month.  If you can't post it publicly (which...of course you can, all HH info is public data, all hands were played publicly, especially since you aren't even showing the full HH you're only showing the contributed BBJ portion), show it privately to someone you trust who isn't a shill, like Twitchy or DanDruff.

As our first matter, we believe it is necessary to distribute the Bad Beat Jackpot based on the percentages to players who have contributed to that Jackpot through the years. We will be calculating the totals over the next week to two weeks and expect that all distributions will be posted to player accounts by the second week of January 2018.

Thanks for the feedback and we completely agree. We do have access to that data and it will take a couple weeks or so to compile but we plan to make the payouts as soon as possible.

The plan for the BBJ is to release a list showing that it was distributed in full. The new management group wants to be completely transparent about this.

We certainly will still be distributing the bad beat jackpot, if that's what you are referring to. Should be late next week.

Update - We are continuing to go through the extensive data. We had to employ the former members in order to parse the data. Due to the complexity, it is taking longer than originally anticipated and we will have another update early next week. Thank you for your patience.

[SyGambler]

this is officially ridiculous now  the rep confirmed many times that you have access to all the necessary data  , what has changed now ??
it seems that you are just trying to gain time , maybe you don't even have that amount
hosting the games again and making the players deposit again , that doesn't sound right for me

[axicron]

Hey guys, Betcoin is in our toplist - https://btcplaymania.com/ (yet) and we're watching around the situation about recent issues.

[DarkDays]

this is officially ridiculous now  the rep confirmed many times that you have access to all the necessary data  , what has changed now ??
it seems that you are just trying to gain time , maybe you don't even have that amount
hosting the games again and making the players deposit again , that doesn't sound right for me

It sure seems like they are trying to buy time so that people don't contact the Texas DOJ to investigate what's going on. 

[TwitchySeal]

Pretty disappointed overall with how my negotiations with Betcoin have turned out. It's certainly better than them just taking it, or doing some non-transparent payout but still not great.

We went from:
Lets figure out how to return entire Jackpot to players based on how much they contributed (sorry, we don't have the data)==>
Lets figure out how to reopen the room, fix the rules and get the Jackpot payed out quickly and fairly (sorry, we want to give more players a chance to win it) ==>
Lets just change the minimum requirement, leave the other rules the same and let the BBJP get hit 10 times, including a 10% house fee for each hit - on the tenth hit, they will contribute the re-seed to the winners.

Currently the way I interpret the rules, the cut of the entire Jackpot is determined by the stakes of the table , 20% for .10/.25 and lower, 50% for .25/.5 - 2/4 and 100% for 5/10+ ( http://www.betcoin.ag/files/betcoin/images/bbjtablelimits.PNG ) The same BBJP fee is taken from all tables, so it should all be the same.  But it wont be because they don't know how to change it.

The biggest issue I have with how the rules are is that each hit will almost certainly only payout 20% of the total, since it will be at 25NL or lower.

Of that 20%, the house will take 10% off the top for themselves, another 20% to put back into the jackpot, and the remaining 70% (of the 20%) will go 70% to winner, 20% to loser and 10% to other players at the table.

Assuming each hit happens under 50NL, this is what the first three payouts would look like (not including any added funds from hands played after reopening)

Jackpot 34000

20% = 6800

House - 680
Reseed - 1360
Players - 4760
Loser - 3332
Winner - 952
Other Players - 476

New Jackpot 28560

20% = 5712

House - 571
Reseed - 1142
Players - 3998
Loser - 2799
Winner - 800
Other Players - 399

New Jackpot 23990

20% = 4798

House - 480
Reseed - 960
Players - 3359
Loser - 2351
Winner - 671
Other Players - 336

New Jackpot 20152

[TwitchySeal]

For the record, there are definitely some new managers that were surprisingly reasonable and clearly frustrated with the state of things when they got on.

Unfortunately, I believe they are quitting over this whole thing.

Even worse, Jessica is still around.

So, yeah.

[Betcoin.AG]

When we split from poker originally, we lost access to a lot of poker data. After getting back together with the poker team and going through it, we realized we did not have enough data to make the payments 100% accurate.
It will be paid in full. We are doing partial payments to give additional people a chance at winning parts of it, but we expect it to be gone within 8 weeks or so because we are lowering the hand requirement significantly. We have worked closely with Twitchy on this, and although we are incapable of satisfying all his requests, we are doing it as best as we can so it is fair to the players.
We are trying to do the right thing here. Not everyone will be happy but the money will be paid out in full to the players and soon.

[TwitchySeal]

When we split from poker originally, we lost access to a lot of poker data. After getting back together with the poker team and going through it, we realized we did not have enough data to make the payments 100% accurate.
It will be paid in full. We are doing partial payments to give additional people a chance at winning parts of it, but we expect it to be gone within 8 weeks or so because we are lowering the hand requirement significantly. We have worked closely with Twitchy on this and although, we are incapable of satisfying all his requests, we are doing it as best as we can so it is fair to the players.
We are trying to do the right thing here. Not everyone will be happy but the money will be paid out in full to the players and soon.

This is a fair statement.

I believe that the management team that I have been dealing with have indeed done their best to do the right thing - the problem is with the man/men behind the curtain that they are reporting to. (and also Jessica)

Also, the guys I have been working with are leaving.