[HAVELOCK] CasinoBitco.in CBTC

[fitz360]

My username is TuckFheman on Peerbet. Which recently went under new ownership/management. The new owners offered up this tasty raffle with a 1 BTC Prize AND 0.1 credits to their CBTC site. However after their PR guy created the raffle he asked for someone to buy the first ticket just until he could get some of his personal coin into Peerbet. I gladly obliged to his request because I had some coin at the time.

However as the days went on the raffle seemed to grow less and less. Until people stopped buying tickets right around 100 tickets and with a ten day limit, it was to doomed to finish. Which normally is no big deal, raffle doesn't finish the btc is automatically refunded to your account. However that raffle ended on the 28th of February and today is March 5th.

Us players want our BTC to be properly refunded!

CBTCTIM
CBTC_PR
            Have both been missing from the site for almost a week now! Players and my friends are constantly talking about how Support does not respond to emails. Everything was fine a week ago until I uncovered a massive rigging scheme set in place by the former owners BIT777.

They had set limits on wins. Roughly 1% of the house bankroll. HOWEVER they did not tell anyone this and there was no way to know!!!! Until the CBTC TEAM added a pop-up when your bet is too low or high it shows the limits now!

Back when Bit777 owned peerbet I used to play the wheel with XPM and I had over 300 XPM but unknowingly (because of the rigged bit777 program) I was betting over the max "WIN" limit so every bet over their "win" limit was an instant loss and I now have 0 XPM.

Please refund our tickets properly in BTC!

And if your not going to manage the site properly it's time to sell.

EDIT#2 The below in blue and the following link has been confirmed by CBTCTIM as a fake !!
EDIT#1 Moments ago user mezmerizer9 Brought this link to our attention!!
            Clearly showing a JACKPOT win yet received NO COIN. That is the highest jackpot available on that game I might add.

http://s1031.photobucket.com/user/nightmane12/media/wtf.jpg.html



Doge Donation    DQnq1dot5pxPZcFBJ4nhqwSLSfd1xX2CLP

[1715359089]

1715359089

[1715359089]

1715359089

[casinobitco]

First - this isn't the right thread to issue specific customer complaints, there is a dedicated support team which is highly available and have worked with you directly in the past; however, I'll address you directly in this thread as I believe this is your desire.

We are working on getting the refunds for the raffle, which literally equates to roughly a few mBTC, out the door ASAP. There is no automated way to initiate refunds for the raffles with the software - so it's all done manually hence the lag.

There is no evidence the previous owners have rigged the site, and we haven't touch the source code for PeerBet since we acquired the property. The max "to win" has always been 1% of available bankroll for the given alt-coin, and the pop-up has been around well before we took over. There is no conspiracy (or incentive for us) to take your XPM or mBTC.

We're also looking into mezmerizer9 jackpot, we'll update him via e-mail on exactly what we find.

CBTCPR is away on leave, and I do pop-in sporadically - so we aren't MIA. Trust that we work on improving the Bit777 and PeerBet experiences daily - but metaphorically it takes some time to do a U-turn with the titanic, that's literally where we are at now.

My username is TuckFheman on Peerbet. Which recently went under new ownership/management. The new owners offered up this tasty raffle with a 1 BTC Prize AND 0.1 credits to their CBTC site. However after their PR guy created the raffle he asked for someone to buy the first ticket just until he could get some of his personal coin into Peerbet. I gladly obliged to his request because I had some coin at the time.

However as the days went on the raffle seemed to grow less and less. Until people stopped buying tickets right around 100 tickets and with a ten day limit, it was to doomed to finish. Which normally is no big deal, raffle doesn't finish the btc is automatically refunded to your account. However that raffle ended on the 28th of February and today is March 5th.

Us players want our BTC to be properly refunded!

CBTCTIM
CBTC_PR
            Have both been missing from the site for almost a week now! Players and my friends are constantly talking about how Support does not respond to emails. Everything was fine a week ago until I uncovered a massive rigging scheme set in place by the former owners BIT777.

They had set limits on wins. Roughly 1% of the house bankroll. HOWEVER they did not tell anyone this and there was no way to know!!!! Until the CBTC TEAM added a pop-up when your bet is too low or high it shows the limits now!

Back when Bit777 owned peerbet I used to play the wheel with XPM and I had over 300 XPM but unknowingly (because of the rigged bit777 program) I was betting over the max "WIN" limit so every bet over their "win" limit was an instant loss and I now have 0 XPM.

Please refund our tickets properly in BTC!

And if your not going to manage the site properly it's time to sell.

EDIT#1 Moments ago user mezmerizer9 Brought this link to our attention!!
            Clearly showing a JACKPOT win yet received NO COIN. That is the highest jackpot available on that game I might add.

http://s1031.photobucket.com/user/nightmane12/media/wtf.jpg.html


Doge Donation    DQnq1dot5pxPZcFBJ4nhqwSLSfd1xX2CLP

[casinobitco]

Update, and closing this out. Again - this is NOT the thread of customer complaints, any other customer specific complaints in this thread will be advised to work through the support team, and to chirp in the Gambling thread for unresolved issues.

Raffle
A total of 22 mBTC was manually refunded to 12 users that registered in the Raffle.

Jackpot
The user photoshopped that picture, all systems are working as designed.

[jeremypwr]

Thanks for keeping your players updated with what's going on!  True signs that your Casino/Sportsbook will be around for a long time.

[_mr_e]

Ummm, did I miss something? What is happening to the share price?

[Stego]

Nothing to worry about. I guess people are just impatient and were disappointed by the fact that we have no dividends for february.

[_mr_e]

I would've thought we'd have seen that response a little sooner. Strange, but my only regret is not having one of those buy orders at .0001:P

[casinobitco]

I would've thought we'd have seen that response a little sooner. Strange, but my only regret is not having one of those buy orders at .0001:P

There was a handful of pre IPO investors who had their restricted units released to them yesterday, it seems as though some have sold their units for cash-flow reasons.

In other news, in case you weren't aware, our biggest competition as it relates to sport-betting has just shut down their business - we are looking forward to gaining some of their business!

And last, we'll be publishing the mid-month report on the 16th of this month.

[Stego]

Do you know why it was shut down ?

[casinobitco]

Do you know why it was shut down ?

No - we don't, candidly I've reached out to them a few times and they haven't given me the time of day.

My guess (only), and you can see our numbers are extremely transparent, they realized running a bitcoin sportsbooks isn't profitable without dedicated micro-management. Right now, it's our opinion that all the sports-betting sharks are crushing Bitcoin Sportsbooks. Overtime, as BTC becomes more common - the average bettor will find their way to us because gambling with Bitcoin is just a perfect fit... instant deposits, withdrawals, etc - I'm overly bullish that it's just a matter of time when this happens.

All that said, there are several ways to mitigate a lot of the risk in the sportsbook - I've been heads-down working on several solutions, hopefully one will pan out soon so I can report on it at the end of the month.

[AM4Bitcoin]

What will you do if the sportbook is again not profitable this month? How many months are you willing to lose the gains of the casinogames to the sportbook?
This is no attack, i just want to know what are your plans if the sportbook is a bottomless pit, are you willing to cut it?

[casinobitco]

What will you do if the sportbook is again not profitable this month? How many months are you willing to lose the gains of the casinogames to the sportbook?
This is no attack, i just want to know what are your plans if the sportbook is a bottomless pit, are you willing to cut it?

As I briefed earlier, I'm looking very hard to mitigate all sportsbook risk for CasinoBitco.in -- I agree, right now it's a big liability, but at the same time, it brings a lot of folks into our Casino and helps us differentiate ourselves from all the other Provably Fair Shops.  

I also stand by the fact that we can make money in the Sportbsook, but it needs to be managed a bit differently than how we're doing it today. Good news is that I've been in sessions with a few market makers, and I think we have a good solution moving forward. Where we are now is just determining the correct pricing, and technical implementation before signing the dotted line. I'm hopeful to have a report for all investors on a moving forward strategy for the monthly report due in Early April.

[_mr_e]

Are we charging a vig? If not then why not and should we at least consider charging one while we get these issues fleshed out?

[casinobitco]

Are we charging a vig? If not then why not and should we at least consider charging one while we get these issues fleshed out?

Yes, there is a Vig on all events, we actually increased it from -107 to -109 earlier this month.

And, I don't like doing this, cause I don't want to jinx it, but so far this month we're doing just fine in the Sportsbook and beating expectations in the CBTC Casino as well as Bit777/Peerbet. I'll have the official, non-jinx worthy, numbers on the 16th... but at this point, I'm not overly concerned. That said, I still think long-term, we need to mitigate (or isolate) Sportsbook risk - and I'm working hard on that guys!

[hl5460]

As I briefed earlier, I'm looking very hard to mitigate all sportsbook risk for CasinoBitco.in -- I agree, right now it's a big liability, but at the same time, it brings a lot of folks into our Casino and helps us differentiate ourselves from all the other Provably Fair Shops.  

I also stand by the fact that we can make money in the Sportbsook, but it needs to be managed a bit differently than how we're doing it today. Good news is that I've been in sessions with a few market makers, and I think we have a good solution moving forward. Where we are now is just determining the correct pricing, and technical implementation before signing the dotted line. I'm hopeful to have a report for all investors on a moving forward strategy for the monthly report due in Early April.

As a shareholder of CBTC, I think CBTC is doing fine. Sportsbook is what distinguishes CBTC from other casinos.

At least CBTC is being honest and transparent. Mt.Gox is a bad example to follow.

[Jeff Jefferson]

First of all I really like your site and hope that you will attract more visitors in the coming months!

Suggestions:

- I really like the fact that I can bet on German Bundesliga and the Premier League. Is it possible to include international soccer events like the Champions League or the World Championship? I think this would attract a lot of visitors.

- How about implementing some Altcoins for deposits like Litecoin, Doge or NXT? Other Casinos do so and I think this approach may be very profitable.

Thank you and keep up the AWESOME work!

[casinobitco]

Mid March numbers (3/1 - 3/15) have been posted in the following location: https://docs.google.com/spreadsheet/ccc?key=0AmSWZWkGJ1V3dFpxZHVTN0x6ZldUeHRteWdBd1pMNXc&usp=sharing#gid=16

Synopsis: Overall, March thus far has been relatively consistent in all operations showing a profit of +18.05 BTC for the period.  While we have opportunities in our Sportsbook and our Acquired Properties, we did have our most profitable 15 day period to date (as it relates to USD revenue) in our Casinos with an overall profit of 21.95 BTC (breakdown below):

CBTC Casino: +17.80 BTC
Bit777/PeerBet: +4.15 BTC

While we are are pleased to inform unit holders that the revenue for Bit777/Peerbet is rather steady and not prone to the negative variance seen in the CasinoBitco.in Sportsbook, we do have a lot of opportunity to grow revenue as we make changes to the Usability, Player Retention, Promotions, and overall cross-brand awareness -  all of which are in-flight.

For the same period our sportsbook is down -3.9 BTC. As mentioned briefly in the past - we are working with a 3rd party market maker who will help us mitigate our risk in the Sportsbook altogether, and we are close to finalizing this deal as early as this upcoming week. Once finalized, our development team will work on integrating with the new provider - our target for completion will be the end of April. Until that project is completed we will be doing our best to micro-manage the Sportsbook to ensure either a small loss or gain.

Regarding the BitBook.biz closure, we’ve seen this as a very large opportunity to earn more players - and can confirm our traffic has increased around the same time period they closed. At the same time this brings larger threats of attacks. We’re content to share with investors, our players, and the world that we store absolutely no coins on our physical servers but instead use a 3rd party hosted solution for our hot wallet. Further, there are automated mechanisms in place to routinely move coins from the hot wallet to our cold wallet once a certain balance is reached - this process occurs daily.

[utens]

Good news

[_mr_e]

I would love to see some numbers on the % of sportsbook winnings that are then turned around and lost back to the casino games. I think people are more likely to gamble their "free" money so the real sportsbook losses could potentially be lower.

I am also wondering if we have any future plans to integrate some sort of real world betting on the site, much like the features on http://www.bitbet.us. Maybe this could help offset sports sharks?

[nwfella]

Anybody else having issue(s) trying to buy/sell on havelock?