playtin
Full Member
 Offline
Activity: 201
Merit: 101
https://playt.in
|
 |
August 18, 2013, 01:35:47 PM |
|
Look at max bet (10.5BTC) on max odds (35:1) vs available bankroll (608BTC) there is your answer.
No it's not risk free. Manage your bankroll accordingly.
EDIT: Good news they lowered the risk of ruin. The site now only risk a maximum of 50% instead of 100%+ yesterday. I've never seen more than 1.5BTC bet on 17:1 and 2BTC on 1:1 so in reality they never risked more than 100%.
FYI: https://bitcointalk.org/index.php?topic=87656.msg1145478#msg1145478Risk of Ruin for Single-0 Roulette (player betting 1 on single number)| Bankroll | Risk of Ruin | | 0 | 81.605% | | 1000 | 17.216% | | 2000 | 3.547% | | 3000 | 0.75% | | 4000 | 0.258% | | 5000 | 0.083% | | 6000 | 0.025% | | 7000 | 0.008% | | 8000 | 0.001% |
This chart indicates that if a casino wants to have a less than 0.001% risk of ruin, they must have a bankroll of more than 8000x the maximum bet on a single number. |
|
|
|
01BTC10
VIP
Hero Member
Offline
Activity: 756
Merit: 503
|
|
August 18, 2013, 01:47:57 PM |
|
This is why if a casino don't manage the bankroll responsibly you need to do it yourself. Don't go all-in and get ready to reload.
|
|
|
|
|
dooglus
Legendary
Offline
Activity: 2940
Merit: 1330
|
|
August 18, 2013, 03:53:26 PM |
|
This chart indicates that if a casino wants to have a less than 0.001% risk of ruin, they must have a bankroll of more than 8000x the maximum bet on a single number.
It's probably worth pointing out that bitzino's calculations were based on a fixed max bet. If the house adjusts its max bet dynamically to be a fixed percentage of the current bankroll then it doesn't need nearly as much. |
| Just-Dice | ██
██████████
██████████████████
██████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████
██████████████
██████ | Play or Invest | ██
██████████
██████████████████
██████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████
██████████████
██████ | 1% House Edge |
|
|
|
|
Bitsky
|
|
August 18, 2013, 04:38:22 PM |
|
He forgot to mention that you could've lost the whole bankroll. As far as the site compromised, could we hope that the website is more secure than it is reliable.
Don't forget that a website owner can always blame a hack for everything. It has happened before that an admin said they got hacked just to run away with the coins. So when reading "if the website is compromised" I always add "or we just steal them from you" in my mind. Of course I'm not implying that this could happen here. |
|
|
|
|
Inedible
|
|
August 18, 2013, 04:58:46 PM |
|
He forgot to mention that you could've lost the whole bankroll. As far as the site compromised, could we hope that the website is more secure than it is reliable.
Don't forget that a website owner can always blame a hack for everything. It has happened before that an admin said they got hacked just to run away with the coins. So when reading "if the website is compromised" I always add "or we just steal them from you" in my mind. Of course I'm not implying that this could happen here. Surely you're saying the implication is it COULD happen and not WILL happen. |
If this post was useful, interesting or entertaining, then you've misunderstood.
|
|
|
|
filharvey
|
|
August 18, 2013, 06:44:40 PM |
|
well after 4 days of profits each night. last night resulted in a slight loss. So, we will see how things go next.
Phil
|
|
|
|
|
Bitsky
|
|
August 18, 2013, 08:45:03 PM |
|
Surely you're saying the implication is it COULD happen and not WILL happen.
In dubio pro reo. |
|
|
|
|
filharvey
|
|
August 19, 2013, 11:53:43 AM |
|
Now things seem to have broken on the site. Again break even over night, but now can't withdraw any money.
Phil
|
|
|
|
01BTC10
VIP
Hero Member
Offline
Activity: 756
Merit: 503
|
|
August 19, 2013, 11:56:33 AM |
|
Site seem on perpetual DDOS.
|
|
|
|
|
Hfleer
Sr. Member
Offline
Activity: 448
Merit: 250
Changing avatars is currently not possible.
|
|
August 19, 2013, 12:16:02 PM |
|
He forgot to mention that you could've lost the whole bankroll. As far as the site compromised, could we hope that the website is more secure than it is reliable.
Don't forget that a website owner can always blame a hack for everything. It has happened before that an admin said they got hacked just to run away with the coins. So when reading "if the website is compromised" I always add "or we just steal them from you" in my mind. Of course I'm not implying that this could happen here. Falls into the category of counterparty risk. Something to think about when dealing in Bitcoin. |
██████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████ |
|
|
|
filharvey
|
|
August 19, 2013, 02:14:33 PM |
|
Update on withdrawal. Was able to make one just now. So down to a limited investment now. But it is still pure profit.
Phil
|
|
|
|
ChaosFox
Full Member
Offline
Activity: 178
Merit: 100
Certified fox posing as a cat posing as a human
|
|
August 19, 2013, 04:42:42 PM |
|
Getting all sorts of errors and now even a 403 Forbidden on the website.  EDIT: Oh... so moving to a new server. Okay then...? |
Look! An ad-free signature!
|
|
|
mwarrior
Member
Offline
Activity: 329
Merit: 10
https://eloncity.io/
|
|
August 19, 2013, 06:02:23 PM |
|
I've been trying to withdraw 30 BTC for 2 daysw now. Was told earlier that they would look into it. Sites down and getting 403 forbidden. Not looking so good.
|
|
|
|
01BTC10
VIP
Hero Member
Offline
Activity: 756
Merit: 503
|
|
August 19, 2013, 06:11:31 PM |
|
I've been trying to withdraw 30 BTC for 2 daysw now. Was told earlier that they would look into it. Sites down and getting 403 forbidden. Not looking so good.
We are moving to a new server, shouldn't take longer than a couple of hours |
|
|
|
|
|
CasinoBit (OP)
|
|
August 19, 2013, 07:05:06 PM |
|
We have moved to the new servers everyone, the website should experience virtually no downtime from now on, about 1 hour left until all the checks are performed and invest/login/bet features are turned on again.
We will then get to debunking ponzi claims by the competitors and assisting customers in withdrawals.
Thank you for your patience.
|
|
|
|
|
dooglus
Legendary
Offline
Activity: 2940
Merit: 1330
|
|
August 19, 2013, 07:17:15 PM |
|
We will then get to debunking ponzi claims by the competitors and assisting customers in withdrawals.
I don't know if that was aimed at me, but I've made no claim that you're a ponzi. Quite the opposite, I've offered advice on how to prove that you're not. |
| Just-Dice | ██
██████████
██████████████████
██████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████
██████████████
██████ | Play or Invest | ██
██████████
██████████████████
██████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████
██████████████
██████ | 1% House Edge |
|
|
|
|
CasinoBit (OP)
|
|
August 19, 2013, 07:32:54 PM |
|
We will then get to debunking ponzi claims by the competitors and assisting customers in withdrawals.
I don't know if that was aimed at me, but I've made no claim that you're a ponzi. Quite the opposite, I've offered advice on how to prove that you're not. I was always curious, is your website shared or dedicated hosting? |
|
|
|
|
|
geofflosophy
|
|
August 19, 2013, 08:02:35 PM |
|
We have moved to the new servers everyone, the website should experience virtually no downtime from now on, about 1 hour left until all the checks are performed and invest/login/bet features are turned on again.
We will then get to debunking ponzi claims by the competitors and assisting customers in withdrawals.
Thank you for your patience.
Thanks for the update. Was going to PM you about the Invest link not working, but I'll be patient  . |
|
|
|
|
dooglus
Legendary
Offline
Activity: 2940
Merit: 1330
|
|
August 19, 2013, 08:16:29 PM |
|
We will then get to debunking ponzi claims by the competitors and assisting customers in withdrawals.
I don't know if that was aimed at me, but I've made no claim that you're a ponzi. Quite the opposite, I've offered advice on how to prove that you're not. I was always curious, is your website shared or dedicated hosting? It is hosted on an Amazon AWS instance. I wonder why you're changing the subject again. |
| Just-Dice | ██
██████████
██████████████████
██████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████
██████████████
██████ | Play or Invest | ██
██████████
██████████████████
██████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████
██████████████
██████ | 1% House Edge |
|
|
|
|
CasinoBit (OP)
|
|
August 19, 2013, 08:21:24 PM |
|
It is hosted on an Amazon AWS instance.
I wonder why you're changing the subject again.
Not changing the subject, just find it quite funny that you believe that I should take security advice from someone who hosts on an unsecure shared hosting with a domain registered on Namecheap and take GUI advice from someone who uses Javascript alert as a part of the interface, not to mention the PHP advice from a 17 year old kid. In any case, thanks for your suggestions, all I know is that you will never find me hatin' in competing casinos threads. All the best. |
|
|
|
|
|
