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Author Topic: MyBitSpot.com - Find the hidden Spots!  (Read 535 times)
MyBitSpot
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November 21, 2016, 11:19:18 PM
Last edit: November 22, 2016, 01:24:53 AM by MyBitSpot
 #1

www.MyBitSpot.com


The rules are simple ,
5 Rewards will be hidden on each board ,you can win up to x35 ,
As soon as the Main Reward is found ,a new board will be generated.

The payouts are instant (1 confirmation is required),
Payouts are automatically sent to the address that you have played with ,
So make sure that you can receive payments to the same address ,and not only send.

We are also running a launching event ,with 0% house edge!


Also we are offering a limited time 0.001 payback on EVERY SINGLE BET.
All you have to do is share your playing experience on this post ,
The payment will be made to the address that you have played with.
Post your Wallet Address (the one you have played with ,your experience ,and the tx's of the transactions)
You will be rewarded with 0.001BTC for every bet. (Only once per address / Forum user.)

Feel free to ask any question ,or share your thoughts.

www.MyBitSpot.com - Good Luck!
PLAY NOW
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MyBitSpot
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November 21, 2016, 11:40:10 PM
 #2

Reserved.
DarkStar_
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November 21, 2016, 11:46:09 PM
Last edit: November 22, 2016, 12:04:58 AM by DarkStar_
 #3

Without the promotion, no one will play your game, as the house edge is too high. Also, I highly doubt you paid out 0.225BTC already.

Miscalculated. 47% house edge with the promotion, 77% house edge without. Why would anyone play with those odds?

MyBitSpot
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November 21, 2016, 11:53:59 PM
 #4

Without the promotion, no one will play your game, as the house edge is too high. Also, I highly doubt you paid out 0.225BTC already.

We didn't ,the first board was used for testing.
The payouts may be changed in the future ,but while the event is on ,the base payouts will be low.
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November 22, 2016, 12:03:53 AM
 #5

Without the promotion, no one will play your game, as the house edge is too high. Also, I highly doubt you paid out 0.225BTC already.

We didn't ,the first board was used for testing.
The payouts may be changed in the future ,but while the event is on ,the base payouts will be low.
Consider removing it then, as it's pretending you have volume you don't. Anyway, you should really change the payouts in the future. Regarding the provably fair thing, you generate 5 numbers, but you don't say which payouts what.

Regarding house edge: (0.5*(2/100))+(1*(1/100))+(2*(1/100))+(14*(1/100))+(-1*(95/100)) = -0.77

You have a house edge of 77%. Dice games have a edge of 1%, usually. SoftSwiss slots have edges smaller than 10%. Same with BetSoft, and all the other game providers, pretty much. Please explain why I should play your game on a new board, and bet expected to lose 77% of my bet, when I could go play dice and only expect to lose 1% of my bet. With the promotion (I miscalculated last time), you have a house edge of only 47%.

(0.5*(2/100))+(1*(1/100))+(2*(1/100))+(44*(1/100))+(-1*(95/100))

Kind of funny how other sites offer odds 47 times better, without promotions.

MyBitSpot
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November 22, 2016, 12:15:39 AM
 #6

Without the promotion, no one will play your game, as the house edge is too high. Also, I highly doubt you paid out 0.225BTC already.

We didn't ,the first board was used for testing.
The payouts may be changed in the future ,but while the event is on ,the base payouts will be low.
Consider removing it then, as it's pretending you have volume you don't. Anyway, you should really change the payouts in the future. Regarding the provably fair thing, you generate 5 numbers, but you don't say which payouts what.

Regarding house edge: (0.5*(2/100))+(1*(1/100))+(2*(1/100))+(14*(1/100))+(-1*(95/100)) = -0.77

You have a house edge of 77%. Dice games have a edge of 1%, usually. SoftSwiss slots have edges smaller than 10%. Same with BetSoft, and all the other game providers, pretty much. Please explain why I should play your game on a new board, and bet expected to lose 77% of my bet, when I could go play dice and only expect to lose 1% of my bet. With the promotion (I miscalculated last time), you have a house edge of only 47%.


(0.5*(2/100))+(1*(1/100))+(2*(1/100))+(44*(1/100))+(-1*(95/100))

Kind of funny how other sites offer odds 47 times better, without promotions.


About the generated numbers ,the payouts are shown in order from the lowest to the highest.
And about the house edge ,we will consider to raise the payouts ,sounds reasonable.

Thank you for paying attention.
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November 22, 2016, 12:18:14 AM
 #7

At first after reading Op's post I thought this will be interesting new concept as I never seen similar game before.
But after looking at calculations of House Edge on MyBitSpot done by DarkStar, this game seems more like a huge rip off instead.
You need to rise payouts considerably to even this out.
MyBitSpot
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November 22, 2016, 01:24:27 AM
 #8

The payouts have been updated ,so we are on 0% house edge.
Thanks DarkStar_ for your help.
actmyname
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November 22, 2016, 01:34:06 AM
 #9

Alright. Now that the payouts are changed, the game seems more fair... though, it would be nicer to see adjustable bet sizes. Preferably in the near future. After further consideration, I've come to realize that this may lead to abuse by setting the game to a +ev setting (against casino), unless there are bet limitations.

Can we have a list of the transactions to ensure that there's no foul play? If you were to show the bitcoin address of the spot even after it was grayed out, then it would provide more security (as well as a bet history or something similar under the matrix)



If everything turns out to be legitimate, then this will be an exciting game - your chances increase as time goes on. It's a +ev game once someone else bets and loses, so it would even be possible to have the initial state of the game have a house edge (>5% would suffice).


MyBitSpot
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November 22, 2016, 01:40:00 AM
 #10

Alright. Now that the payouts are changed, the game seems more fair... though, it would be nicer to see adjustable bet sizes. Preferably in the near future.

Can we have a list of the transactions to ensure that there's no foul play? If you were to show the bitcoin address of the spot even after it was grayed out, then it would provide more security (as well as a bet history or something similar under the matrix)



If everything turns out to be legitimate, then this will be an exciting game - your chances increase as time goes on. It's a +ev game once someone else bets and loses.

Nice idea!
A list of bets history with spot ID's and tx's will be added soon.
I guess that this will solve the grayed spots question also.
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November 22, 2016, 01:41:21 AM
 #11

If everything turns out to be legitimate, then this will be an exciting game - your chances increase as time goes on. It's a +ev game once someone else bets and loses, so it would even be possible to have the initial state of the game have a house edge (>5% would suffice).
Or decrease. I'm guessing they will run a 5-10% edge or something like that after a while, since it's easy for them to lose with a low edge. It's not a small chance that all the prizes will be found before all the squares are open, causing them to lose that round (with a 0% edge).

Will be a fun game if it gets decent volume. Maybe consider adding multiple boards with different sized bets (like a smaller one, maybe 0.001BTC?)

actmyname
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November 22, 2016, 01:55:14 AM
 #12

If everything turns out to be legitimate, then this will be an exciting game - your chances increase as time goes on. It's a +ev game once someone else bets and loses, so it would even be possible to have the initial state of the game have a house edge (>5% would suffice).
Or decrease. I'm guessing they will run a 5-10% edge or something like that after a while, since it's easy for them to lose with a low edge. It's not a small chance that all the prizes will be found before all the squares are open, causing them to lose that round (with a 0% edge).

Will be a fun game if it gets decent volume. Maybe consider adding multiple boards with different sized bets (like a smaller one, maybe 0.001BTC?)

I'm not sure on the math here, but here's my theoretical calculations:

MyBitSpot's chances of having 0 ev can be calculated with 95!/(100!/5!)

Since their chances will follow this sequence:
95/100 * 94/99 * 93/98
And thus you will multiply by 95, 94, 93... divide by 100, 99, 98... up until 5.

That gives me 5 in 3 764 376...



Alternatively, let's say that everything except the 35x payout is taken.

The chances would be:

99/100*98/99*97/98*...

Leading to 99!/100! which is a 1 in 100 chance.

And if you stop once there are only the reward tiles left, then that would increase the casino odds (though I'm not sure about the math behind that.)



If some mathematician wants to show me the way to do it, then I'm down to see their logic, but it looks like this would be a dilemma.

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November 22, 2016, 02:28:19 AM
Last edit: November 22, 2016, 02:43:51 AM by acroman08
 #13

If everything turns out to be legitimate, then this will be an exciting game - your chances increase as time goes on. It's a +ev game once someone else bets and loses, so it would even be possible to have the initial state of the game have a house edge (>5% would suffice).
Or decrease. I'm guessing they will run a 5-10% edge or something like that after a while, since it's easy for them to lose with a low edge. It's not a small chance that all the prizes will be found before all the squares are open, causing them to lose that round (with a 0% edge).

Will be a fun game if it gets decent volume. Maybe consider adding multiple boards with different sized bets (like a smaller one, maybe 0.001BTC?)

Yes. Do consider adding different boards with different sized bets. Even .0005 wouldn't be too little, right? At least players could somehow try out the game, and have fun without needing 5mbtc for every single bet.

Also, I personally don't like having to copy,paste,send(alternate between tabs) for every time I want to open a spot. I'd rather like to place my full attention to the game and choose my spots.



.
.BIG WINNER!.
[15.00000000 BTC]


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actmyname
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November 22, 2016, 02:30:28 AM
 #14

Yes. Do consider adding different boards with different sized bets. Even .0005 wouldn't be too little, right? At least players could somehow try out the game, and have fun without needing 5mbtc for every single bet.

Also, I personally don't like having to copy,paste,send(alternate between tabs) for every time I want to open a spot. I'd rather like to place my full attention to the game and choose my spots.
Then to resolve both of those issues I propose a registration process where you may deposit funds and then place bets on multiple boards, depending on your preference. This way, you may capitalize on betting on multiple open sections without having the possible risk of betting on an already-taken spot. Otherwise, that's a lot of transaction fees for 0.0005 bets. And nobody likes lots of fees.

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November 22, 2016, 05:36:22 AM
 #15

More boards with different bet values will be added soon Smiley.
Thanks for your comments.
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November 22, 2016, 06:43:35 AM
 #16

Are you going to number the boards and show a archived list of all boards that were played? I would think that these boards will come and go much faster, once this game become more popular and people would be curious to see where the jackpot blocks were placed.

They can also see the random placement of these jackpot blocks, to verify the fairness of the placement. If the blocks is shifted, while people are playing, people can determine that, by placing planned moves to determine the randomness.

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