[HAVELOCK] CasinoBitco.in (CBTC) IPO Official Thread

[havelock]

Why is it listed in the spec as being priced at 0.00018 but on offer on 0.0002 on havelock ?

It only appears as 0.0002 because of a how our system currently displays unit prices (4 decimal places). So 0.00018 is rounded up to 0.0002 for displaying purposes.  The price is really 0.00018 in our system.  FYI The order book displays down to 8 decimal places.  We'll look at expanding the IPO display to 8 decimal places to avoid confusion in the future.  Thanks for pointing it out.

[Korbman]

Just a quick couple of questions from my end:

How long has this site been operational?
I noticed the detailed statements go from July-August, but other Google docs files note starting back in May or so.

What is the purpose of valuing the company at BTC5,400? Was this value intentional?
Most of the time, people usually randomly generate how many shares their company will have (i.e. 1,000,000 units, 5,000,000, etc) and then throw in a per unit initial value they thought was good enough (i.e. BTC0.001, 0.5, 0.00001, etc). Then, as if magic, they're suddenly valuing their ideas at thousands of BTC.

How will any raised funds be spent? Say hundreds of random people jump on board and give you the $60,000 in BTC you're looking for. Then what?


These are just a few 'feeler' questions, and I've got a few more depending on how the above are answered. Overall, I like casino investments...when built properly (and secured properly as well) the house always wins, and that's good for investors

[havelock]

It's also like rounded like that in the open orders page, very confusing.

Hi, we show 8 decimal places in the open orders page for all the existing funds (ex:  https://www.havelockinvestments.com/order.php?symbol=HIM).  CBTC doesn't have an order page active yet.  Did you have a link to the page in questions and we can take a look?

[casinobitcoin]

Just a quick couple of questions from my end:

How long has this site been operational?
I noticed the detailed statements go from July-August, but other Google docs files note starting back in May or so.

What is the purpose of valuing the company at BTC5,400? Was this value intentional?
Most of the time, people usually randomly generate how many shares their company will have (i.e. 1,000,000 units, 5,000,000, etc) and then throw in a per unit initial value they thought was good enough (i.e. BTC0.001, 0.5, 0.00001, etc). Then, as if magic, they're suddenly valuing their ideas at thousands of BTC.

How will any raised funds be spent? Say hundreds of random people jump on board and give you the $60,000 in BTC you're looking for. Then what?


These are just a few 'feeler' questions, and I've got a few more depending on how the above are answered. Overall, I like casino investments...when built properly (and secured properly as well) the house always wins, and that's good for investors

Hey Korbman! Thanks for your interest.

Yes, in conjunction with Havelock, we valued ourselves intentionally - We used the same price formula used for pre-IPO investors for our IPO valuation, which we've had a ton of interest interest for. Factors taken into account include our btc/cash on hand, intellectual property, weekly earnings growth, expected earnings considering future development, overall bitcoin gaming market share, etc. We did a lot of market research to make sure there was plenty of room for us to grow. What's nice - after IPO, the market can take over valuation for us.

Based on Alexa traffic, we're one of the fastest growing for both bitcoin sportsbook/ casino over the past month or so, and we hope this move will boost growth further. We really have two ways to grow - within the current bitcoin gaming space, of which we have roughly ~5%, and with the growth of the bitcoin gaming space as a whole - which appears to be roughly doubling every year, and is still well under 0.1% of the gaming market as a whole.

Funds are primarily being raised to increase our risk threshold, and therefore max bets limits.

[havelock]

I meant the personal open orders page, https://www.havelockinvestments.com/orders.php

Ok thanks, we'll add this along with the IPO page to use 8 decimals.

[casinobitcoin]

Solid earnings for week ending 9/5 posted. IPO seems to be driving a lot of traffic!

https://docs.google.com/spreadsheet/ccc?key=0AmSWZWkGJ1V3dFpxZHVTN0x6ZldUeHRteWdBd1pMNXc#gid=12

[inspiredinvestor]

very interested in this IPO, the casino is very professional looking and entrancing to use (even for someone who hates gamble)
So I have question about the IPO for Havelock as I think the IPO will be gone in about an hour.
it says 2013-09-10 12:00:00 , i live in sydney australia so i am wondering what region this is,AND even better i would love it if i could set a automatic buy order!
 

[nlive]

good,Interesting!

[havelock]

very interested in this IPO, the casino is very professional looking and entrancing to use (even for someone who hates gamble)
So I have question about the IPO for Havelock as I think the IPO will be gone in about an hour.
it says 2013-09-10 12:00:00 , i live in sydney australia so i am wondering what region this is,AND even better i would love it if i could set a automatic buy order!
 

Hi, the time zone is ESD. The current time is indicated in the top right as well.
Auto buy orders/IPO subscription is something we're looking at but we're going with 'first come, first serve' for now.  Thanks for the feedback.

[Korbman]

Yes, in conjunction with Havelock, we valued ourselves intentionally - We used the same price formula used for pre-IPO investors for our IPO valuation, which we've had a ton of interest interest for. Factors taken into account include our btc/cash on hand, intellectual property, weekly earnings growth, expected earnings considering future development, overall bitcoin gaming market share, etc. We did a lot of market research to make sure there was plenty of room for us to grow. What's nice - after IPO, the market can take over valuation for us.

Based on Alexa traffic, we're one of the fastest growing for both bitcoin sportsbook/ casino over the past month or so, and we hope this move will boost growth further. We really have two ways to grow - within the current bitcoin gaming space, of which we have roughly ~5%, and with the growth of the bitcoin gaming space as a whole - which appears to be roughly doubling every year, and is still well under 0.1% of the gaming market as a whole.

Funds are primarily being raised to increase our risk threshold, and therefore max bets limits.

Awesome, thanks for the response. Going back to my original question:
How long has this site been operational?
I noticed the detailed statements go from July-August, but other Google docs files note starting back in May or so.

Next small round of questions:
Who is your primary competition? What do you offer that they don't?

As traffic to your site increases, why launch an offering at all?
If a gambling website is fun, profitable, and offers gaming variety, it'll grow on its own over time. When that happens, you'll have earned enough money to increase the maximum bets on your own instead of using raised funds to subsidize this part.

[casinobitcoin]

Yes, in conjunction with Havelock, we valued ourselves intentionally - We used the same price formula used for pre-IPO investors for our IPO valuation, which we've had a ton of interest interest for. Factors taken into account include our btc/cash on hand, intellectual property, weekly earnings growth, expected earnings considering future development, overall bitcoin gaming market share, etc. We did a lot of market research to make sure there was plenty of room for us to grow. What's nice - after IPO, the market can take over valuation for us.

Based on Alexa traffic, we're one of the fastest growing for both bitcoin sportsbook/ casino over the past month or so, and we hope this move will boost growth further. We really have two ways to grow - within the current bitcoin gaming space, of which we have roughly ~5%, and with the growth of the bitcoin gaming space as a whole - which appears to be roughly doubling every year, and is still well under 0.1% of the gaming market as a whole.

Funds are primarily being raised to increase our risk threshold, and therefore max bets limits.

Awesome, thanks for the response. Going back to my original question:
How long has this site been operational?
I noticed the detailed statements go from July-August, but other Google docs files note starting back in May or so.

Next small round of questions:
Who is your primary competition? What do you offer that they don't?

As traffic to your site increases, why launch an offering at all?
If a gambling website is fun, profitable, and offers gaming variety, it'll grow on its own over time. When that happens, you'll have earned enough money to increase the maximum bets on your own instead of using raised funds to subsidize this part.

Site has been announced to the public since June 7th. Any startup expenses pre-July have been accounted for in our July starting balance and will not affect investors/dividends, which will be based on operating income going forward.

Our competition can be viewed on the attached Alexa traffic trends graph (Top - Casino, Bottom - Sports): http://imgur.com/xq7rUMC
As you can see here, we're growing fast (dark blue line on both)! We believe this is in large part due to our competitive advantages, and intend to push those further - whether it be unique leagues, bet types, games - or our focus on P2P offerings, which are FUN, competitive, and create loyalty (NFL Suicide leagues are the current example.... NFL Squares should be next). Of course, we'll still compete directly as well as building our own "niche" this way.

We could certainly stay private, and have had offers for additional funding. However, we feel our IPVO will raise our profile, additionally motivate us to benefit our shareholders, and also pay dividends in the form of investor ideas/input, word-of-mouth advertising, etc.

[freedomno1]

I have to say that even though you prob consider this sort of a 'ironic post' I personally think that E-game betting is something that is 100% a great idea. Maybe Starcraft and League of Legends.

Not ironic at all - except I'm not Korean. It's a whole new underexplored area. And gamers have to spend the bitcoins they mined with their GPUs

From personal experience I have quite a few friends who watch those tournaments this is a good idea +1
Catching up was away for a while, I do believe that the gambling space has potential to diversify itself and this is one of the ways to do so best of luck.

[KingOfSports]

Just fyi guys as a major sports bettor I can give insight on the sportsbook market, Bitbook.biz and NitrogenSports offer -106 reduced juice odds on almost all sports. Reduced juice is one of the biggest things sports bettor use for deciding where to bet. For Casinobitco.in to ever have the chance to be the top book or top 2 books they will need to at least match this. Right now in my opinion Bitbook is the biggest book and no one seems to be even close to them. -106 means on a 50/50 bet, the bettor risks $106 to win $100 in profit. Casinobitco.in's current lines are -110. Meaning $110 to win $100. This is a difference of about 2% house edge from book to book.

Casinobitco.in also is very behind as they are not providing teasers, parlays or any special type of bet. There also is no live betting. Bitbook.biz offers live betting on EVERY baseball game and offers parlays. Nitrogen offers parlays and Bitcoinsports.eu offers teasers.

Also, casinobitco.in feel free to PM the info you said you would be happy to send me. I have PMed you my email address. However to me your valuation should be at highest a 1000 BTC valuation to me so do not know if it would be beneificial for you to send me the info. Bitbook is the main horse in the sportsbook biz right now, followed by Nitrogen.

[casinobitcoin]

Hey KOS,
If there is no changing your mind, I may not spend time sending anything for now, we can agree to disagree. No hard feelings.

However, we 100% agree on reduced juice & more betting options - Those are all in the works - including 1st 5 innings bets for baseball - due by tonight/tomorrow.

Right now, our #1 priority is developing our affiliate backend.

[casinobitco]

Literally on deck this week is More sports options, including MLB 1st 5 Innings, then Parlays.

We are also very close to launching our affiliate program which we will beta for our most loyal users who are interested, uvwvj  - you are on that list, of course.

Right now, our #1 priority is developing our affiliate backend.

Imo that is the best option to maintain loyalty.

[TheSwede75]

I will be picking up some shares in this IPO for sure. Diversification is always good and I consider casinobitco.in one of few betting/casino sites with a very bright future.

[onecent]

Bitcoin sportsbook is definitely a profitable business in the foreseeable future, I may put Casinobitco.in in my investment portfolio

[TheSwede75]

Bitcoin sportsbook is definitely a profitable business in the foreseeable future, I may put Casinobitco.in in my investment portfolio

One of the sexy aspects of casino/betting is that the double income source allows casinobitco.in to ride the popularity of both types of games. Its also client-less which means its device independent. I expect great things.

[TheSwede75]

I have to say that even though you prob consider this sort of a 'ironic post' I personally think that E-game betting is something that is 100% a great idea. Maybe Starcraft and League of Legends.

Not ironic at all - except I'm not Korean. It's a whole new underexplored area. And gamers have to spend the bitcoins they mined with their GPUs

I agree. HUGE SC2 and Broodwar fan here.

As an ex-SC player, I'm in. What other e-sports are big?

The biggest as far as viewership and a clear path to betting (tournament coverage and reliable score keeping records etc.) are probe DOTA, SC2 and League of Legends.

[casinobitcoin]

Solid earnings for week ending 9/5 posted. IPO seems to be driving a lot of traffic!

https://docs.google.com/spreadsheet/ccc?key=0AmSWZWkGJ1V3dFpxZHVTN0x6ZldUeHRteWdBd1pMNXc#gid=12

Can you send an "in week" update to this spreadsheet out tomorrow morning to see increased traffic/bets caused due to IPO announcement and NFL Week 1. 

This will give 24 hours as look in.

Thanks and sorry for inconvience.

Sure thing! We've had more than one request.