Casinobit - LIVE ROULETTE - [INVEST] - BEST CASINO OF 2013

[Rampion]

Please let us know what went wrong, how did you fix it, why new investors can't withdraw, how much is owed and how and whent do you expect to pay back up.

Oh, and let's as know how your casino works that someone will bet 10,000BTC against your 1BTC bank roll.

[CasinoBit]

Please let us know what went wrong, how did you fix it, why new investors can't withdraw, how much is owed and how and whent do you expect to pay back up.

Oh, and let's as know how your casino works that someone will bet 10,000BTC against your 1BTC bank roll.

The maximum bet will never go below 2BTC, it is capped that way, and it is capped that way for a reason because I will personally cover any bets made up to the 2BTC max.

New investors will be able to withdraw soon enough, I don't want to give any promises that I cannot keep 100% as to the day when withdrawals will be enabled again. We are pushing forward daily regardless and I assure you everything will be paid out.

[Rampion]

Please let us know what went wrong, how did you fix it, why new investors can't withdraw, how much is owed and how and whent do you expect to pay back up.

Oh, and let's as know how your casino works that someone will bet 10,000BTC against your 1BTC bank roll.

The maximum bet will never go below 2BTC, it is capped that way, and it is capped that way for a reason because I will personally cover any bets made up to the 2BTC max.

New investors will be able to withdraw soon enough, I don't want to give any promises that I cannot keep 100% as to the day when withdrawals will be enabled again. We are pushing forward daily regardless and I assure you everything will be paid out.

And how did the "casino" become a Ponzi?

The fact is you cannot or you don't want to give a clear and transparent explanation about what happened, how did you solve the problem (you didn't) and what is your course of action to repay everybody.

You keep the site up just to lure more money in, without allowing new or old investors to withdraw.

Obviously the majority of those who were scammed keep giving you the benefit of the doubt because they want, they *need* to hope they will get their coins back. Human psychology at work.

But the fact nobody is able to withdraw his money yet while you insist in not explaining precisely what's going on, demonstrates you scammed people willingly and you continue to do so. People cannot withdraw their money because you are stealing it.

[icecube]

What are you rambling about? You mean that somebody will bet 10,000BTC against your ridiculous 1BTC bankroll?

You keep spitting BS regarding how you will gonna end up paying. Cut the shit and confess. If you really fucked up unwittingly, man up and tell us what didn't work for "the best casino of 2013" to became a Ponzi scheme. Explain us where is the problem, how did you solve it, and what's your plan in order to refund scammed people.

Oh... You can't say shit because you fixed nothing. New investors cannot withdraw neither.

Please rephrase without swearing and I will address your points.

Have a hug so you won't be so angry all the time!

We are working on repaying the investors.

BETTORS?

[elm]

[/quote]

What are you rambling about? You mean that somebody will bet 10,000BTC against your ridiculous 1BTC bankroll?

You keep spitting BS regarding how you will gonna end up paying. Cut the shit and confess. If you really fucked up unwittingly, man up and tell us what didn't work for "the best casino of 2013" to became a Ponzi scheme. Explain us where is the problem, how did you solve it, and what's your plan in order to refund scammed people.

Oh... You can't say shit because you fixed nothing. New investors cannot withdraw neither.
[/quote]

"the best casino of 2013"

where does this come from? who decided that it is the best casino of 2013?

[elm]

Please let us know what went wrong, how did you fix it, why new investors can't withdraw, how much is owed and how and whent do you expect to pay back up.

Oh, and let's as know how your casino works that someone will bet 10,000BTC against your 1BTC bank roll.

The maximum bet will never go below 2BTC, it is capped that way, and it is capped that way for a reason because I will personally cover any bets made up to the 2BTC max.

New investors will be able to withdraw soon enough, I don't want to give any promises that I cannot keep 100% as to the day when withdrawals will be enabled again. We are pushing forward daily regardless and I assure you everything will be paid out.

the maximum bet cant go below 2BTC, it cant go only above ( I am sure this was a typo)

10,000BTC an hour that sounds to good to be true IMHO or is it 10,000BTC = 10BTC ? even this would be to good to be true.

by the way why didnt You answer my PM?

[bit777]

What are you rambling about? You mean that somebody will bet 10,000BTC against your ridiculous 1BTC bankroll?

You keep spitting BS regarding how you will gonna end up paying. Cut the shit and confess. If you really fucked up unwittingly, man up and tell us what didn't work for "the best casino of 2013" to became a Ponzi scheme. Explain us where is the problem, how did you solve it, and what's your plan in order to refund scammed people.

Oh... You can't say shit because you fixed nothing. New investors cannot withdraw neither.

Please rephrase without swearing and I will address your points.

Have a hug so you won't be so angry all the time!

We are working on repaying the investors.

Hugs won't buy you out of this one

[CasinoBit]

What are you rambling about? You mean that somebody will bet 10,000BTC against your ridiculous 1BTC bankroll?

You keep spitting BS regarding how you will gonna end up paying. Cut the shit and confess. If you really fucked up unwittingly, man up and tell us what didn't work for "the best casino of 2013" to became a Ponzi scheme. Explain us where is the problem, how did you solve it, and what's your plan in order to refund scammed people.

Oh... You can't say shit because you fixed nothing. New investors cannot withdraw neither.

Please rephrase without swearing and I will address your points.

Have a hug so you won't be so angry all the time!

We are working on repaying the investors.

BETTORS?

Bettors too Icecube, a man can only hope that you will stay with us after the unreasonable amount of time that your payments were delayed.

[FloridaBear]

I'd like to offer a constructive post. According to Kelly, the house should risk 2.7% of the bankroll on each bet with a 2.7% house edge (e.g. the player's max profit is 2.7% of the bankroll on each bet). This allows the house profit to rise at the optimum rate.

In general, the max bet should be .027*b*n/(36-n), where n is number of squares in the bet and b is bankroll.

Example, 500 BTC bankroll:

• For one square, max bet would be .027*500*1/35=0.38 BTC.
• For 18 squares (e.g. red, black, 1-18, 19-36), max bet should be 0.027*500*18/18=13.5.
• For 6 squares, max bet should be .027*500*6/30=2.7.

You can just tell the player what the max bet is when he clicks on it.

[EDIT]: This gets complicated for multiple bettors. I'm trying to work out a generalization.

[Rampion]

What are you rambling about? You mean that somebody will bet 10,000BTC against your ridiculous 1BTC bankroll?

You keep spitting BS regarding how you will gonna end up paying. Cut the shit and confess. If you really fucked up unwittingly, man up and tell us what didn't work for "the best casino of 2013" to became a Ponzi scheme. Explain us where is the problem, how did you solve it, and what's your plan in order to refund scammed people.

Oh... You can't say shit because you fixed nothing. New investors cannot withdraw neither.

Please rephrase without swearing and I will address your points.

Have a hug so you won't be so angry all the time!

We are working on repaying the investors.

BETTORS?

Bettors too Icecube, a man can only hope that you will stay with us after the unreasonable amount of time that your payments were delayed.

Anyone sending you money is just a retard.

You are stealing people's money, paying nothing to investors/bettors, and you do not even have the brains to come up with a decent explanation regarding what's happening and how are you going to solve it.

Anyone hoping to get back his coins is a delusional fool.

This thread should be locked and you should get a ban+scammer tag.

[elm]

What are you rambling about? You mean that somebody will bet 10,000BTC against your ridiculous 1BTC bankroll?

You keep spitting BS regarding how you will gonna end up paying. Cut the shit and confess. If you really fucked up unwittingly, man up and tell us what didn't work for "the best casino of 2013" to became a Ponzi scheme. Explain us where is the problem, how did you solve it, and what's your plan in order to refund scammed people.

Oh... You can't say shit because you fixed nothing. New investors cannot withdraw neither.

Please rephrase without swearing and I will address your points.

Have a hug so you won't be so angry all the time!

We are working on repaying the investors.

BETTORS?

Bettors too Icecube, a man can only hope that you will stay with us after the unreasonable amount of time that your payments were delayed.

Anyone sending you money is just a retard.

You are stealing people's money, paying nothing to investors/bettors, and you do not even have the brains to come up with a decent explanation regarding what's happening and how are you going to solve it.

Anyone hoping to get back his coins is a delusional fool.

This thread should be locked and you should get a ban+scammer tag.

@Rampion

IMHO it would not help the investors who still didnt get their money, to ban him. You never know when it is over until it is over.

maybe I need to read the whole thread from the start because I didnt see many investors complaining and asking their money back. did I miss this part somewhere in this thread?

[01BTC10]

Anyway this is pointless since there is no scammer tag anymore and this forum don't ban scammer.

[elm]

I'd like to offer a constructive post. According to Kelly, the house should risk 2.7% of the bankroll on each bet with a 2.7% house edge (e.g. the player's max profit is 2.7% of the bankroll on each bet). This allows the house profit to rise at the optimum rate.

In general, the max bet should be .027*b*n/(36-n), where n is number of squares in the bet and b is bankroll.

Example, 500 BTC bankroll:

• For one square, max bet would be .027*500*1/35=0.38 BTC.
• For 18 squares (e.g. red, black, 1-18, 19-36), max bet should be 0.027*500*18/18=13.5.
• For 6 squares, max bet should be .027*500*6/30=2.7.

You can just tell the player what the max bet is when he clicks on it.

[EDIT]: This gets complicated for multiple bettors. I'm trying to work out a generalization.

@FloridaBear

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

[01BTC10]

I'd like to offer a constructive post. According to Kelly, the house should risk 2.7% of the bankroll on each bet with a 2.7% house edge (e.g. the player's max profit is 2.7% of the bankroll on each bet). This allows the house profit to rise at the optimum rate.

In general, the max bet should be .027*b*n/(36-n), where n is number of squares in the bet and b is bankroll.

Example, 500 BTC bankroll:

• For one square, max bet would be .027*500*1/35=0.38 BTC.
• For 18 squares (e.g. red, black, 1-18, 19-36), max bet should be 0.027*500*18/18=13.5.
• For 6 squares, max bet should be .027*500*6/30=2.7.

You can just tell the player what the max bet is when he clicks on it.

[EDIT]: This gets complicated for multiple bettors. I'm trying to work out a generalization.

@FloridaBear

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

Max win is 35:1
35*6.7BTC=234.5BTC
250BTC bankroll seems risky to me.
Right now the site show 291BTC bankroll.

[elm]

I'd like to offer a constructive post. According to Kelly, the house should risk 2.7% of the bankroll on each bet with a 2.7% house edge (e.g. the player's max profit is 2.7% of the bankroll on each bet). This allows the house profit to rise at the optimum rate.

In general, the max bet should be .027*b*n/(36-n), where n is number of squares in the bet and b is bankroll.

Example, 500 BTC bankroll:

• For one square, max bet would be .027*500*1/35=0.38 BTC.
• For 18 squares (e.g. red, black, 1-18, 19-36), max bet should be 0.027*500*18/18=13.5.
• For 6 squares, max bet should be .027*500*6/30=2.7.

You can just tell the player what the max bet is when he clicks on it.

[EDIT]: This gets complicated for multiple bettors. I'm trying to work out a generalization.

@FloridaBear

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

Max win is 35:1
35*6.7BTC=234.5BTC
250BTC bankroll seems risky to me.
Right now the site show 291BTC bankroll.

one table is always risky if the table is not manipulated

[dooglus]

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.

[elm]

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

[bit777]

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.

[elm]

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

[FloridaBear]

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

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...