[HAVELOCK] CasinoBitco.in CBTC

[RocketSingh]

@CBTC: do you believe there will be any impact from the recent increase in BTC?

What type of an impact you are talking about here... care to explain?

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[jrlichtman]

@CBTC: do you believe there will be any impact from the recent increase in BTC?

What type of an impact you are talking about here... care to explain?

In the past, there have been big up/down movements in volume on CBTC that correlated with significant price jumps/decreases. I don't know if anyone ever figured out why.

[AcoinL.L.C]

@CBTC: do you believe there will be any impact from the recent increase in BTC?

What type of an impact you are talking about here... care to explain?

In the past, there have been big up/down movements in volume on CBTC that correlated with significant price jumps/decreases. I don't know if anyone ever figured out why.

People bet less BTC when BTC is worth more.. For example, someone that has a $1000 bankroll and BTC increases in value and it becomes worth $1500. Most people reduce their bet size and still bet as if they had $1000. A lot of people also hold out and do not bet at all, as they would rather "gamble" on the price increasing further. Basically, increases in Bitcoins value typically lowers volume for Bitcoin based casinos.

[casinobitco]

May 2016 Metrics and Financials below.

Monthly Metrics: https://docs.google.com/spreadsheet/ccc?key=0AmSWZWkGJ1V3dFpxZHVTN0x6ZldUeHRteWdBd1pMNXc#gid=16

P&L - https://docs.google.com/spreadsheets/d/1mFzQOuJ-8hBI8ftH75EEhRkcpLh8NbJMJPOoKhK17Yo

Sportsbook:                                  + 6.394 btc
HTML5 Casino:                              + 4.033 btc
Bit777/ PeerBet (CBTC Share):       + 9.09  btc (8.46 from Bit777.com) 
 
Overall Month: +19.517 btc

Noteworthy callouts
Like past months, we've had low volume, but a small profit in our Sportsbook ever since we tightened controls and pushed professional players away. As we roll out our new sportsbook with more markets, options, and higher limits - we face a significant task ahead of us to recapture market share, especially with players who played with us in the past.  We have a plan to do so, highlighted with aggressive Promotions, and organically via SEO as new btc gamblers continue to enter the marketplace.

Surprisingly, we had very good volume and revenue over in http://www.Bit777.com yielding +8.46 btc. We will continue to look into ways to garner more action in Bit777 considering the wealth of games it carries vs BitcoinRush.io.


Development efforts
We are 1 month into our development activities for our new sportsbook and are on-track for an end of July beta-release. As mentioned above, we are ensuring we have the proper attention on marketing and player acquisition efforts after our new book is in place, so that our book gets proper traction in front of the US football season. 

We have also begun conversations with a new UX designer to take a look at redesigning PeerBet.org; however, no commitment to timelines or whether we are going to even pursue this have been made yet.

Our SEO partnership kicked off in Mid-May, we are pleased with some of the foundational work they've outlined for the site so far and look forward to the next 6 months as quality backlinks and content begin to get created to help give us that much-needed lift.

[freemarketaussie]

Well done with the positive month and improvements which are being worked on. 

[jrlichtman]

Well done with the positive month and improvements which are being worked on. 

It will be interesting to see the June results in a couple of weeks. Continued consistent profitability would be a big win, as would be evidence that the SEO effort is starting to scale up traffic (I know, early days).

[coingamblingreviews]

@CBTC: do you believe there will be any impact from the recent increase in BTC?

From looking back through their results I believe you see people gamble more bitcoins (on a USD equivalent) when the price of bitcoin goes up.

Lets see how it plays out in the months ahead

[bitcoinisfurture]

Why dont we introduce the signature campaign and avatar and get the things promoted on this forum and outside. Or already the plan is in process to develop something in similar fashion?

[jrlichtman]

@CBTC: do you believe there will be any impact from the recent increase in BTC?

From looking back through their results I believe you see people gamble more bitcoins (on a USD equivalent) when the price of bitcoin goes up.

Lets see how it plays out in the months ahead

I've tried modelling the behavior before. Suspect it's more complex than that.

I was hoping CBTC would comment, because I imagine they have a better fix this than I do!

[coingamblingreviews]

@CBTC: do you believe there will be any impact from the recent increase in BTC?

From looking back through their results I believe you see people gamble more bitcoins (on a USD equivalent) when the price of bitcoin goes up.

Lets see how it plays out in the months ahead

I've tried modelling the behavior before. Suspect it's more complex than that.

I was hoping CBTC would comment, because I imagine they have a better fix this than I do!

Agree it is more complex than that, but could be argued that is the approximate trend. The goal posts in terms of the business has changed a lot in that time too.

With the total market cap of Casino Bitcoin being so low I doubt they would consider analyzing this type of scenario/question - bigger problems to solve!

[jrlichtman]

@CBTC: do you believe there will be any impact from the recent increase in BTC?

From looking back through their results I believe you see people gamble more bitcoins (on a USD equivalent) when the price of bitcoin goes up.

Lets see how it plays out in the months ahead

I've tried modelling the behavior before. Suspect it's more complex than that.

I was hoping CBTC would comment, because I imagine they have a better fix this than I do!

Agree it is more complex than that, but could be argued that is the approximate trend. The goal posts in terms of the business has changed a lot in that time too.

With the total market cap of Casino Bitcoin being so low I doubt they would consider analyzing this type of scenario/question - bigger problems to solve!

I was thinking more anecdotally, what they're actually seeing. But yeah, I'd rather they focused on their business too.

[coingamblingreviews]

I was thinking more anecdotally, what they're actually seeing. But yeah, I'd rather they focused on their business too.

Yeah understood. Have you done any interesting models of the bitcoin gambling space in general? Seems like the information would be hard to get, but I would love to see some done.

[jrlichtman]

I was thinking more anecdotally, what they're actually seeing. But yeah, I'd rather they focused on their business too.

Yeah understood. Have you done any interesting models of the bitcoin gambling space in general? Seems like the information would be hard to get, but I would love to see some done.

Not formally.

My guess is that there's two things going on when BTC rises dramatically though. Firstly, the anticipation that it will rise further (which might make gamblers hold off, or play with a smaller amount). Secondly, the euphoria that their holdings are worth more in fiat (which might make them more likely to "plunge"). There's probably also inverses of these when BTC drops.

I don't know what actually plays out in practice though, and it would take the cooperation of a number of companies that likely consider that info to be secret.

[AcoinL.L.C]

From what I have seen, when Bitcoin is rising there is steep decreases in wagered volume. When it's falling steeply, it's still below average (not as severe as when it's rising), probably because people want to be able to sell if they think they can buy back in cheaper. Wagering is much more consistent when the price isn't flunctuating.

[jrlichtman]

From what I have seen, when Bitcoin is rising there is steep decreases in wagered volume. When it's falling steeply, it's still below average (not as severe as when it's rising), probably because people want to be able to sell if they think they can buy back in cheaper. Wagering is much more consistent when the price isn't flunctuating.

I think this is often that case, yes. Fluctuation is rather relative for BTC. If it stays in a range for more than a few days, people probably start thinking it's stable.

[GreenBits]

I was thinking more anecdotally, what they're actually seeing. But yeah, I'd rather they focused on their business too.

Yeah understood. Have you done any interesting models of the bitcoin gambling space in general? Seems like the information would be hard to get, but I would love to see some done.

Not formally.

My guess is that there's two things going on when BTC rises dramatically though. Firstly, the anticipation that it will rise further (which might make gamblers hold off, or play with a smaller amount). Secondly, the euphoria that their holdings are worth more in fiat (which might make them more likely to "plunge"). There's probably also inverses of these when BTC drops.

I don't know what actually plays out in practice though, and it would take the cooperation of a number of companies that likely consider that info to be secret.

+1 observations, I think these phenomena are real as well, and have a profound affect on gambling in this space. ESP the 'rising anticipation', I experience a similar paradigm when the price is in an uptrend, I am very reluctant to spend knowing the price will most likely lower as a function of time.

[freemarketaussie]

When is the next months update going to come out?

Would like to know how Bitcoinrush is going with the some of the sportsbook developments that are being worked on? 

[jrlichtman]

When is the next months update going to come out?

Would like to know how Bitcoinrush is going with the some of the sportsbook developments that are being worked on? 

It looks like they have the June numbers in their spreadsheet (the link is on a previous page).

[casinobitco]

Apologies for the slip here. Seems I never published last month's report, nor shared our Q2 earnings results. Not intentional, everyone working on BitcoinRush.io (myself included) has been extremely busy ramping up for the US Football season which is about to start. Immediately following this post, I will also be sharing July results in a subsequent reply.

June Metrics and Financials below.

Monthly Metrics: https://docs.google.com/spreadsheet/ccc?key=0AmSWZWkGJ1V3dFpxZHVTN0x6ZldUeHRteWdBd1pMNXc#gid=16

P&L - https://docs.google.com/spreadsheets/d/1mFzQOuJ-8hBI8ftH75EEhRkcpLh8NbJMJPOoKhK17Yo

Sportsbook:                                   + 0.605 btc
HTML5 Casino:                               + 0.728  btc
Bit777/ PeerBet (CBTC Share):        + 0.694 btc
 
Overall Month: +2.027 btc

Noteworthy callouts
While it was a positive revenue month, June was definitely down from a player draw perspective, especially after the NBA championships commenced.  Unfortunately, we saw a big drop-off in play compared to June 2015. We contribute that to the price volatility in BTC / FIAT, a weak line-up of sports options, and little to no advertising compared to June 2015.


Q2 2016

Q2 Revenue   +30.368 btc
Q2 Expenses  -24.24 btc
————————————
Q2 Profit      +6.128 btc


The good news is that we've now had 2 profitable quarters in a row; unfortunately, the profit is not substantial enough to release dividends. We have a lot of pride knowing we built the CBTC network of sites from the ground-up and actually are in a spot where we are operating moderately profitable on a consistent basis. Believe it or not, that's really an impressive feat given how small our operations (and budget) is compared to our competition as well as some of the challenges we've faced in the past few years. That said, we are still ultimately unsatisfied with our monthly revenue and know we are underperforming as it relates to some of the bigger players in this niche.

Given where we are with our efforts to regain players and better our offerings, it would be foolish and actually negligent on our part to release a dividend.
Our main areas of focus in Q3 will continue to be player acquisition via Organic and Paid Marketing, a revamped Sportsbook ahead of the start of US Football season, as well as various player retention methods.


 

[casinobitco]

July Metrics and Financials below.

Monthly Metrics: https://docs.google.com/spreadsheet/ccc?key=0AmSWZWkGJ1V3dFpxZHVTN0x6ZldUeHRteWdBd1pMNXc#gid=16

P&L - https://docs.google.com/spreadsheets/d/1mFzQOuJ-8hBI8ftH75EEhRkcpLh8NbJMJPOoKhK17Yo

Sportsbook:                                   + 1.806btc
HTML5 Casino:                               + 1.232  btc
Bit777/ PeerBet (CBTC Share):        - 3.876 btc
 
Overall Month: -0.838 btc

Noteworthy callouts
July is a historically slow month as we have no main sports in action outside Soccer and Baseball, and Soccer has never been a big draw for us. We are content to report that certain key metrics we pay close attention to are actually up MoM and YoY. This includes the # of existing users making return deposits, as well as the # of new users making a deposit. Both metrics are actually performing better than July of 2015, and even June of 2016.

We've also are happy to report that we are days away from launching our new Sportsbook (screenshot below) which gives us the following new features:
- Cart based Betting
- Bet on many Games at once
- Easier ability to Parlay Multiple Bets
- Aggregation of 6 different odds providers to provide more markets and options to our players
- Automatic settlement of wagers
- Automatic Hedging behind the scenes to operate near risk-free
- Completely responsive, works great in mobile browsers

Screenshot: http://pasteboard.co/6kTRQJURk.png

Last, we continue to make strides with our new SEO vendor, they have laid out plenty of foundational groundwork and have started identifying and creating high-quality backlinks. All said, we do want to express patience here as we don't expect to see significant results until 4-5 months down the road.