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Author Topic: Casinobit - LIVE ROULETTE - [INVEST] - BEST CASINO OF 2013  (Read 81521 times)
FloridaBear
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September 14, 2013, 03:26:26 PM
 #921

Your Kelly sample is fine and each casino owner will/should know this. his table maximum is 6.7 and this should tell us that he had or should have 250 BTC bankroll

That's OK, but what if 30 people all try to bet 6.7 BTC on red on the same roll?  Maybe he limits the total bets per spin, not just bets per player, I don't know.

that is the reason why all casinos have more than one roulette table running. and they need to have a much bigger bankroll.

I still didnt understand why investors gave him the money? how could they be sure that they will get their invested money plus interest back? could some one point me to the right link or explain it.

thanks

On a side note, in the beginning of the investment scheme before all the investment took place, he was accepting bets which were uncoverable by the bankroll at all. He had a bankroll of just a few btc (like 15-20btc) and his max bets were 2.7btc (as they are now). So I very much doubt it he has any actual risk control in place or even thought about it. Some users asked him what will happen if someone wins and he said he will borrow the bitcoins from someone to do the payout.

@bit777

I see max bet 6.7 right now. but it doesnt matter because if he couldnt pay out the winners the max doesnt matter. but at least he was honest to say that he doesnt have the money for worst case scenario. so how comes that people played and/or invested there Huh

The worst case scenario for the 6.7 table max is that a number of players bet a total of 6.7 on a single number and it hits. That would require a total of 234.5 to be paid out, which should only be 2.7% of the bankroll (you would need a bankroll of 8,685)! If you take that same scenario, but there were 10 other numbers maxed out, you would take in an additional 67, making the payout only a net of 167.5, so you could allow that with a smaller bankroll ("only" 6,204).

I don't think there is a general formula; you have to ensure that the worst case on each spin will only risk 2.7% of the bankroll. It's probably easiest to recalculate all of the possible payouts and then recalculate the max bet for each possible bet after each bet is placed. Then you can display that when they hover over that bet and not allow more than that to be placed. If many bets are placed, the max on a single number may very well go up, since you have offsetting bets from other numbers (assuming bets are final and can't be removed). The math is not that complex; it is essentially instant on a modern CPU.

Ideally the interface could be much better. If you could get it closer to a real roulette table where you have chips that are a value of the player's choosing and they could simply click to drop chips on that bet, that would be a much better experience for the player. If you could update in real time the other player's bets for that spin, that would be even better (you would have to limit that depending on the number of simultaneous players).

Maybe it's time for me to develop one...
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elm
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September 14, 2013, 04:01:18 PM
 #922

@FloridaBear

I understood the max of 6.7 would be the max for the outside bets like Black/Red. so the max bet on a single number should be much lower. does he have any rules mentioned on his table for inside and outside bets?

Ideally the interface could be much better. If you could get it closer to a real roulette table where you have chips that are a value of the player's choosing and they could simply click to drop chips on that bet, that would be a much better experience for the player.

agree it should look like this to get a casino feeling.

Maybe it's time for me to develop one...

could You?
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September 15, 2013, 05:17:40 PM
 #923

So...How is everyone's withdraws coming along? I was able to get out 2 BTC.   But not really. Wonder how that plan is coming along. 
Looks like he has managed to milk some more suckers into putting money in. He was at ~100 BTC profit and is now at almost 150. 
Casinobit.Net - Screw the suckers and keep on rollin'. ©  <-----Oh yeah... the copyright is bullshit too.

฿itC0in Tr@d3r
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September 15, 2013, 05:47:23 PM
 #924

Maybe it's time for me to develop one...

Or maybe you come up with your own idea instead of leeching off others success, because, I don't know, you can never ever be the best copycat?

fat%
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September 15, 2013, 08:48:07 PM
 #925

Might seem unimportant, but the balance has apparently moved from left to right. At least someone's doing something with the code.
01BTC10
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September 15, 2013, 08:54:08 PM
 #926

Might seem unimportant, but the balance has apparently moved from left to right. At least someone's doing something with the code.
The balance fell from ~350 to ~266 but it means nothing since investors can divest and decide not to reinvest.
Allaboutbit
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September 15, 2013, 11:59:53 PM
 #927

Maybe it's time for me to develop one...

Or maybe you come up with your own idea instead of leeching off others success, because, I don't know, you can never ever be the best copycat?

So successful that he can't afford to pay investors/bettors. Your a clown. Stop posting from multiple accounts.
FloridaBear
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September 16, 2013, 02:06:07 PM
 #928

Maybe it's time for me to develop one...

Or maybe you come up with your own idea instead of leeching off others success, because, I don't know, you can never ever be the best copycat?

If you are not casinobit, why are you such a shill? Oh, and did I mention hypocrite?

An idea not implemented well is an idea begging to be copied and done well. It's called competition. Learn about it.
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September 16, 2013, 03:16:56 PM
 #929

In the nearest 7 days the chat should be launched as well as everyone repaid so this will certainly be interesting.

The profit fees will be set to 10%, this is the notice in advance, the current way investments work has been great for testing with constant withdrawals/deposits but the auto reinvestment system will be on soon.
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September 16, 2013, 03:49:09 PM
 #930

In the nearest 7 days the chat should be launched as well as everyone repaid so this will certainly be interesting.

The profit fees will be set to 10%, this is the notice in advance, the current way investments work has been great for testing with constant withdrawals/deposits but the auto reinvestment system will be on soon.

Hope the first timeline you post will be good Smiley
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September 16, 2013, 04:38:18 PM
 #931

In the nearest 7 days the chat should be launched as well as everyone repaid so this will certainly be interesting.

The profit fees will be set to 10%, this is the notice in advance, the current way investments work has been great for testing with constant withdrawals/deposits but the auto reinvestment system will be on soon.

Can't wait to remove your scammertag and if you keep up with that i won't take out my whole investment - just what i invested + a little profit...


 
 
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pedrog
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September 16, 2013, 05:22:50 PM
 #932

In the nearest 7 days the chat should be launched as well as everyone repaid so this will certainly be interesting.

The profit fees will be set to 10%, this is the notice in advance, the current way investments work has been great for testing with constant withdrawals/deposits but the auto reinvestment system will be on soon.

Great news!

And I hope you don't run into troubles again, I still think this casino has great potential.

fat%
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September 16, 2013, 08:37:18 PM
 #933

In the nearest 7 days the chat should be launched as well as everyone repaid so this will certainly be interesting.

The profit fees will be set to 10%, this is the notice in advance, the current way investments work has been great for testing with constant withdrawals/deposits but the auto reinvestment system will be on soon.

Can't wait to remove your scammertag and if you keep up with that i won't take out my whole investment - just what i invested + a little profit...

Same here! But as long as you don't get this issue sorted out entirely the tag will remain. Nevertheless I advise anyone involved to keep a healthy suspicion.

BTW: I highly encourage you to implement an account based system and the opportunity of enabling 2-FA. I don't think this whole unique link thingy is gonna work out well.
mwarrior
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September 17, 2013, 01:40:51 AM
 #934

Still waiting for CasinoBit to explain what went wrong.

Who cares at this point. Just pay us and be done.  Not holding my breath though..  I'd be dead.

฿itC0in Tr@d3r
dbasql
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September 17, 2013, 03:34:01 AM
 #935

In the nearest 7 days the chat should be launched as well as everyone repaid so this will certainly be interesting.

The profit fees will be set to 10%, this is the notice in advance, the current way investments work has been great for testing with constant withdrawals/deposits but the auto reinvestment system will be on soon.

send me my .8 winner for God's sake man. That asking too much?
aksplace
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September 17, 2013, 03:56:49 AM
 #936

There was a casino company willing to bailout this rogue operation but they refuse to cooperate

fat%
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September 17, 2013, 12:21:56 PM
 #937

Still waiting for CasinoBit to explain what went wrong.

Who cares at this point. Just pay us and be done.  Not holding my breath though..  I'd be dead.


I suppose I do, aswell as many others who have invested larger sums.
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September 17, 2013, 01:54:52 PM
 #938

Still waiting for CasinoBit to explain what went wrong.

Who cares at this point. Just pay us and be done.  Not holding my breath though..  I'd be dead.


I suppose I do, aswell as many others who have invested larger sums.

hi Guys

sorry if the question was answered already, but could some one explain how this investment offer worked? lets say I invest 20 BTC, will I have to send it to the owner of the casino? how will I be secured? and what will I get for the 20 BTC investment? in what time frame

any explanation is very much appreciated.
fat%
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September 17, 2013, 02:07:13 PM
 #939

hi Guys

sorry if the question was answered already, but could some one explain how this investment offer worked? lets say I invest 20 BTC, will I have to send it to the owner of the casino? how will I be secured? and what will I get for the 20 BTC investment? in what time frame

any explanation is very much appreciated.

Well, the first time you load the website you are given a unique link which kinda works as your account. You have to enter a withdrawal address and send coins to another one and after 25 (still that many?) confirmations you can invest the coins, which have been added to your balance, into the casino. Based on the sum of your investment and the total bank roll a certain percentage is calculated which says how much of the amount gamblers lose is added to your balance in percent. I suppose the fee is 0% for now, meaning that 0% of your profit is deducted and added to the owner's balance.

The time frame is not limited. You can invest and divest at any given time. As you might have read in this thread, the investment is not secured at all. That's why we are here complaining about the owner's mismanagement.
mwarrior
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September 17, 2013, 02:25:29 PM
 #940

Still waiting for CasinoBit to explain what went wrong.

Who cares at this point. Just pay us and be done.  Not holding my breath though..  I'd be dead.


I suppose I do, aswell as many others who have invested larger sums.

He's got 30+ Coins of mine.  I've just become convinced that i'm not getting them back.  Hope I am wrong. 


฿itC0in Tr@d3r
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