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[superbit]

I didn't crunch the numbers to see true odds, but I think profit to total bets is 0.01% which is WAY below statistical average.  Given Kelly criteria and the sample size I wonder how many standard deviations we are drifting out.

[1714044430]

1714044430

[1714044430]

1714044430

[AcoinL.L.C]

I didn't crunch the numbers to see true odds, but I think profit to total bets is 0.01% which is WAY below statistical average.  Given Kelly criteria and the sample size I wonder how many standard deviations we are drifting out.

Your math is incredibly off. Average house edge for volume on MoneyPot is 0.96%, with true house profit being at around 0.645% of the total bets. Variance screwed us on a couple of longshot bets, which if they had not hit would have us on par with course. We changed the max payout in order to reduce variance moving forward.

We are also no longer using the kelly criterion. Before you try and bash us, please at least do a bit of reading. The house has actually won over 509 BTC (currently) out of an expected 735 BTC (currently). The profit shown on the home page, is what bankroll investors have made. We realize investors are currently unhappy with their returns, which is why we announced a couple weeks ago we would be switching to a new system where app owners, and MoneyPot, will be sharing some of the risk with investors, as well as increasing the overall EV for bankroll investors by slightly reducing commission.

[fiscorcle]

I didn't crunch the numbers to see true odds, but I think profit to total bets is 0.01% which is WAY below statistical average.  Given Kelly criteria and the sample size I wonder how many standard deviations we are drifting out.

You can't look at actual profit if you want to do that kind of calculation, because you can't calculate that from just the house edge and kelly criterion. If you just have those, you can only imply expected profit and expected bankroll growth

[BITDV]

Hi there i was wondering has a date been put in place for conversion to V2, just so can plan for any modification to casinos and api functions within the code

thanks in advance!!

[BoXXoB]

Great to see things are moving forward. Nice to see v2 coming up. I think the current site design doesn't do much justice for the site so I hope the upcoming design is better Just my two satoshis

Hi there i was wondering has a date been put in place for conversion to V2, just so can plan for any modification to casinos and api functions within the code

thanks in advance!!

They haven't given any date for it as there's been some delays and they don't want to disappoint anyone. What I have heard is "soon" so it can't be too far away.

[BTCevo]

Btw i want to ask about the rubies, does it still the same as rubies before? Because i saw you post rubies/r2b2. What does it mean? And what is this bucket system? To control faucet? So there will be no longer 200 sat faucet to try new site?

[zuyfg888]

Btw i want to ask about the rubies, does it still the same as rubies before? Because i saw you post rubies/r2b2. What does it mean? And what is this bucket system? To control faucet? So there will be no longer 200 sat faucet to try new site?

based on what i read somewhere in this thread or in rbies thread, they will exchange rbies to r2b2, if you are holding rbies to will send it to an address to burn and they will send you r2b2 in return.

about the faucet, IIRC they will remove it completely in the v2, so its probably a faucet which using the bankroll of the app owner

[BTCevo]

Btw i want to ask about the rubies, does it still the same as rubies before? Because i saw you post rubies/r2b2. What does it mean? And what is this bucket system? To control faucet? So there will be no longer 200 sat faucet to try new site?

based on what i read somewhere in this thread or in rbies thread, they will exchange rbies to r2b2, if you are holding rbies to will send it to an address to burn and they will send you r2b2 in return.

about the faucet, IIRC they will remove it completely in the v2, so its probably a faucet which using the bankroll of the app owner

So they will exchange our rubies to r2b2 for any amount? Good to hear that though. So the faucet amount will be higher depends on bankroll? But does it really affect much? Because most apps will only give around 30 times claim for each day so it wont be abused, although if they change it, I am sure they will find more abuser too

[DarkStar_]

And what is this bucket system? To control faucet? So there will be no longer 200 sat faucet to try new site?

about the faucet, IIRC they will remove it completely in the v2, so its probably a faucet which using the bankroll of the app owner

So the faucet amount will be higher depends on bankroll? But does it really affect much? Because most apps will only give around 30 times claim for each day so it wont be abused, although if they change it, I am sure they will find more abuser too

I'm fairly sure that they said that the faucet will be funded 100% by the app owner. The faucet amount will be dependent on what the app owner wants it to be, and not the bankroll for the specific app. It will affect a lot of things, as some sites are removing the faucet all together (Bit-Exo). Also, every app gives 288 claims every day, as it's 1 claim every 5 minutes. I don't think abusing is a large factor in the change, but probably giving 2 bits for free to everyone costs quite a bit in the long run.


Dogedigital (or another MP owner/dev), what would be your stance on using Moneypot in the future for a faucet (with ads)?

[Quickseller]

And what is this bucket system? To control faucet? So there will be no longer 200 sat faucet to try new site?

about the faucet, IIRC they will remove it completely in the v2, so its probably a faucet which using the bankroll of the app owner

So the faucet amount will be higher depends on bankroll? But does it really affect much? Because most apps will only give around 30 times claim for each day so it wont be abused, although if they change it, I am sure they will find more abuser too

I'm fairly sure that they said that the faucet will be funded 100% by the app owner. The faucet amount will be dependent on what the app owner wants it to be, and not the bankroll for the specific app. It will affect a lot of things, as some sites are removing the faucet all together (Bit-Exo). Also, every app gives 288 claims every day, as it's 1 claim every 5 minutes. I don't think abusing is a large factor in the change, but probably giving 2 bits for free to everyone costs quite a bit in the long run.

The definition of "abuse" is very subjective in this regard. What one person considers abuse, another person might find reasonable, however at the end of the day, the faucet is suppose to increase revenue by allowing gamblers to try out games, hopefully at least one of which they will find entertaining enough to deposit and start playing. If the faucet is not increasing revenue enough (to MP), then they will not continue to give away free money via the faucet.

Revenue gained via the faucet is very difficult to measure, however I have my doubts that any faucet on any gambling site is net profitable for casinos -- it might be if a casino has a very active "chat" community, then a faucet might get more people to come and participate in the chat, which might potentially get more actual gamblers to gamble real money.

[BITDV]

Great to see things are moving forward. Nice to see v2 coming up. I think the current site design doesn't do much justice for the site so I hope the upcoming design is better Just my two satoshis

Hi there i was wondering has a date been put in place for conversion to V2, just so can plan for any modification to casinos and api functions within the code

thanks in advance!!

They haven't given any date for it as there's been some delays and they don't want to disappoint anyone. What I have heard is "soon" so it can't be too far away.

ok was just wondering as im sure they will have to be modification to game codes and such like the API calls and such and just want a heads up from someone from moneypot so i can look at what has to be modified, to keep the casino online without much disruption!!

[BTCevo]

And what is this bucket system? To control faucet? So there will be no longer 200 sat faucet to try new site?

about the faucet, IIRC they will remove it completely in the v2, so its probably a faucet which using the bankroll of the app owner

So the faucet amount will be higher depends on bankroll? But does it really affect much? Because most apps will only give around 30 times claim for each day so it wont be abused, although if they change it, I am sure they will find more abuser too

I'm fairly sure that they said that the faucet will be funded 100% by the app owner. The faucet amount will be dependent on what the app owner wants it to be, and not the bankroll for the specific app. It will affect a lot of things, as some sites are removing the faucet all together (Bit-Exo). Also, every app gives 288 claims every day, as it's 1 claim every 5 minutes. I don't think abusing is a large factor in the change, but probably giving 2 bits for free to everyone costs quite a bit in the long run.


Dogedigital (or another MP owner/dev), what would be your stance on using Moneypot in the future for a faucet (with ads)?

So moneypot no longer have the rights on faucet? So they need to choose either giving 288 sat every 5 minutes or remove it? Is this what you mean?

For exo I dont think they really need some faucet anymore since they always have big whale keep on wagering more each week and most people always do their rolls with their own coin

[zuyfg888]

So moneypot no longer have the rights on faucet? So they need to choose either giving 288 sat every 5 minutes or remove it? Is this what you mean?

APP will decide if they want to have a faucet or not, if they want it they will provide coins for it and not from moneypot like in the current version. for example you have moneypot app and you want a faucet on your site, you will have to provide some coins for it for the users to claim and its upto you on how much interval you want between claims

[fiscorcle]

What about some kind of play money that apps can give out to let players test their games? Worthless, non-convertable play money

[ranlo]

What about some kind of play money that apps can give out to let players test their games? Worthless, non-convertable play money

This is a suggestion that is set to discuss at a later date. I proposed one that doesn't even hit the DB, so that there's no real "cost" involved with those bets. No reason to fill a db with hundreds of millions of zero bets, after all, but would still mimic the type of system that's currently in use. I will say that at this point, it has NOT been discussed at length yet. But it's something I'd like to see.

Apps have also requested a new token that is app-specific and allows them to do giveaways that can ONLY be spent on their site, can not be tipped to others, and can't be withdrawn. It's another thing we'll discuss later, but I believe the community as a whole would like that as well. It would open up more options for site owners to do promos.

Disclaimer: Do not take this post as being a sign of what we're currently working on. At any given time, there are many ideas floating around. This is all based on my personal opinion of the situation and should be inferred as such, not as an official MP response of what's coming.

[BITDV]

What about some kind of play money that apps can give out to let players test their games? Worthless, non-convertable play money

This is a suggestion that is set to discuss at a later date. I proposed one that doesn't even hit the DB, so that there's no real "cost" involved with those bets. No reason to fill a db with hundreds of millions of zero bets, after all, but would still mimic the type of system that's currently in use. I will say that at this point, it has NOT been discussed at length yet. But it's something I'd like to see.

Apps have also requested a new token that is app-specific and allows them to do giveaways that can ONLY be spent on their site, can not be tipped to others, and can't be withdrawn. It's another thing we'll discuss later, but I believe the community as a whole would like that as well. It would open up more options for site owners to do promos.

Disclaimer: Do not take this post as being a sign of what we're currently working on. At any given time, there are many ideas floating around. This is all based on my personal opinion of the situation and should be inferred as such, not as an official MP response of what's coming.

well we have set up a demo version of one of our slots that people can test , it isnt connected to moneypot site for this purpose and will look at doing it for the other games in the near future
 http://www.btcdragon.com/en/app/demo_zombieland

[ranlo]

What about some kind of play money that apps can give out to let players test their games? Worthless, non-convertable play money

This is a suggestion that is set to discuss at a later date. I proposed one that doesn't even hit the DB, so that there's no real "cost" involved with those bets. No reason to fill a db with hundreds of millions of zero bets, after all, but would still mimic the type of system that's currently in use. I will say that at this point, it has NOT been discussed at length yet. But it's something I'd like to see.

Apps have also requested a new token that is app-specific and allows them to do giveaways that can ONLY be spent on their site, can not be tipped to others, and can't be withdrawn. It's another thing we'll discuss later, but I believe the community as a whole would like that as well. It would open up more options for site owners to do promos.

Disclaimer: Do not take this post as being a sign of what we're currently working on. At any given time, there are many ideas floating around. This is all based on my personal opinion of the situation and should be inferred as such, not as an official MP response of what's coming.

well we have set up a demo version of one of our slots that people can test , it isnt connected to moneypot site for this purpose and will look at doing it for the other games in the near future
 http://www.btcdragon.com/en/app/demo_zombieland

I like that implementation. It's smooth and it does the same thing. Great job on it, .

[BITDV]

What about some kind of play money that apps can give out to let players test their games? Worthless, non-convertable play money

This is a suggestion that is set to discuss at a later date. I proposed one that doesn't even hit the DB, so that there's no real "cost" involved with those bets. No reason to fill a db with hundreds of millions of zero bets, after all, but would still mimic the type of system that's currently in use. I will say that at this point, it has NOT been discussed at length yet. But it's something I'd like to see.

Apps have also requested a new token that is app-specific and allows them to do giveaways that can ONLY be spent on their site, can not be tipped to others, and can't be withdrawn. It's another thing we'll discuss later, but I believe the community as a whole would like that as well. It would open up more options for site owners to do promos.

Disclaimer: Do not take this post as being a sign of what we're currently working on. At any given time, there are many ideas floating around. This is all based on my personal opinion of the situation and should be inferred as such, not as an official MP response of what's coming.

well we have set up a demo version of one of our slots that people can test , it isnt connected to moneypot site for this purpose and will look at doing it for the other games in the near future
 http://www.btcdragon.com/en/app/demo_zombieland

I like that implementation. It's smooth and it does the same thing. Great job on it, .

Thanks mate!!

[TheBitcoinStrip.com]

Keen!

Thanks for the hard work.

[gordonhill]

#NXT betting at Betterbets.io, Moneypot releases Rubies V2 on the Nxt Blockchain.

https://nxter.org/nxt-news-january-2017-i-every-beginning-is-cheerful