[HAVELOCK] CasinoBitco.in CBTC

[WhatsUpOfficial]

Yeah looking more and more scammy with each report I mean come on what are the chances that there always happens to be a one off huge loss somewhere that's about equal to whatever money was made smh

[casinobitco]

We have plenty of reserves to cover the limits we allow, and we were also insured in the Sportsbook with the 3rd party. You'd know that by reading the monthly reports in detail of course.

Now, if you've spent 5 minutes in the gambling forum, you'd be well aware that if we were a scam, or had any risk of paying customers, there would be at least 50 people jumping on us claiming we are running with the funds - literally every other thread has those accusations!  But instead you'll find that we are a well-respected bitcoin casino and book that's been operational for 2 years that continues to add new features and options for our players. Just last month we paid out nearly 200 btc to large bettors in our sportsbook as they were forced to check out alternatives since our margins were altered by our third party.

https://bitcointalk.org/index.php?topic=717790.msg10744612#msg10744612

The team here is more than happy to have an intelligent debate, but not with folks that spread FUD for the sake of it.

Another report, another enormous loss/expense in one area that decimates any gains in other areas.

Serious question: how long can this go on?  What level of reserves do you have?

[runam0k]

The team here is more than happy to have an intelligent debate, but not with folks that spread FUD for the sake of it.

Another report, another enormous loss/expense in one area that decimates any gains in other areas.

Serious question: how long can this go on?  What level of reserves do you have?

Were you really responding to me?  What I said is neither FUD nor an accusation.  Rather I am genuinely concerned about the business and, as an investor, I would appreciate an answer.

Perhaps I am missing something, but taking a look at the monthly earnings reports for the last six months, I see:

Feb: -29.424 btc Net Income
Jan: -31.3175 btc Net Income
Dec: -7.3899 btc Net Income
Nov: +23.4913 btc Net Income (a rare win)
Oct: -19.4764 btc Net Income
Sept: -4.7097 btc Net Income

So casinobit.co is net -68.8262 btc over the last six months.  It's not a massive amount (~$19,864 at today's rate), but it must surely be a concern for you and the other investors.

Given the relative consistency (i.e. of losses each month), what is your opinion as to how long you can keep the business afloat?  If you are eating into company reserves each month - or throwing your own money at the project - how long can you keep that up?

[casinobitco]

Correct, it's not massive - especially as it relates to the amount of bitcoin raised on Havelock during our offerings in 2013. We are well funded, and have confidence in where we are headed regardless of losses in the Sportsbook, which again - were insured.

We have no intentions of going anywhere, and if you tracked our development progress you'd know we continue to move quicker on making strategic changes to both the CasinoBitco.in and Peerbet applications as we believe Bitcoin Gambling IS the future. Being an early, trusted, leader in that marketplace is paramount for our success - and our unit holders success.

So casinobit.co is net -68.8262 btc over the last six months.  It's not a massive amount (~$19,864 at today's rate), but it must surely be a concern for you and the other investors.

Given the relative consistency (i.e. of losses each month), what is your opinion as to how long you can keep the business afloat?  If you are eating into company reserves each month - or throwing your own money at the project - how long can you keep that up?

[runam0k]

We are well funded, and have confidence in where we are headed regardless of losses in the Sportsbook, which again - were insured.

Just to be clear: of the net -68.8262 btc loss over the last six months, how much of that is covered by insurance?

Where can I find information regarding the size of the company's remaining reserves?

Thanks

[casinobitco]

You'll have to run through the P&Ls to find that... It's there.

We only share company reserve details with unit holders that own at least 5% of the units on Havelock or 1,500,000 units. Just share your Havelock username with me over PM and I can get your the hookup. We do this for a variety of security reasons, and you know... public companies on Nasqaq don't just let their investors know what their account number and balances are, if you don't trust our operational reports - no one is preventing you from selling your units on the Havelock marketplace.

Feel free to follow up via e-mail, or IM if you have further concerns or questions.

We are well funded, and have confidence in where we are headed regardless of losses in the Sportsbook, which again - were insured.

Just to be clear: of the net -68.8262 btc loss over the last six months, how much of that is covered by insurance?

Where can I find information regarding the size of the company's remaining reserves?

Thanks

[shmoula]

Have you ever tried to run a business, dear troll? Since day one million profits, yeah!! I am willing to buy your shares so you can GTFO this thread .

Yeah looking more and more scammy with each report I mean come on what are the chances that there always happens to be a one off huge loss somewhere that's about equal to whatever money was made smh

[WhatsUpOfficial]

Thanks for providing a cogent argument addressing my concerns  I'll agree my last post was hastily written but to imply that cbtc's reports for the last few months years don't even look slightly suspect is absurdly disingenuous.

[coingamblingreviews]

It seems like sports betting is a super hard business to get right, even with the third parties helping

[AcoinL.L.C]

You'll have to run through the P&Ls to find that... It's there.

We only share company reserve details with unit holders that own at least 5% of the units on Havelock or 1,500,000 units. Just share your Havelock username with me over PM and I can get your the hookup. We do this for a variety of security reasons, and you know... public companies on Nasqaq don't just let their investors know what their account number and balances are, if you don't trust our operational reports - no one is preventing you from selling your units on the Havelock marketplace.

Feel free to follow up via e-mail, or IM if you have further concerns or questions.

We are well funded, and have confidence in where we are headed regardless of losses in the Sportsbook, which again - were insured.

Just to be clear: of the net -68.8262 btc loss over the last six months, how much of that is covered by insurance?

Where can I find information regarding the size of the company's remaining reserves?

Thanks

Actually, public companies do post their balance sheets. I liquidated my CBTC shares a couple months back after they refused to share what their bankroll is. You requesting that a shareholder own 5%+ of the shares is ridiculous, chances are no one outside of management owns more then 5% of the company.

[MidwestMiner]

You'll have to run through the P&Ls to find that... It's there.

We only share company reserve details with unit holders that own at least 5% of the units on Havelock or 1,500,000 units. Just share your Havelock username with me over PM and I can get your the hookup. We do this for a variety of security reasons, and you know... public companies on Nasqaq don't just let their investors know what their account number and balances are, if you don't trust our operational reports - no one is preventing you from selling your units on the Havelock marketplace.

Feel free to follow up via e-mail, or IM if you have further concerns or questions.

We are well funded, and have confidence in where we are headed regardless of losses in the Sportsbook, which again - were insured.

Just to be clear: of the net -68.8262 btc loss over the last six months, how much of that is covered by insurance?

Where can I find information regarding the size of the company's remaining reserves?

Thanks

Actually, public companies do post their balance sheets. I liquidated my CBTC shares a couple months back after they refused to share what their bankroll is. You requesting that a shareholder own 5%+ of the shares is ridiculous, chances are no one outside of management owns more then 5% of the company.

No public company posts regarding their capital reserves outside of official reports that I know of but considering they raised 500+ BTC they seem to be on very firm ground financially even after the losses.

I do hope they find a way to mitigate the sports book losses though, I think Bitcoin sports betting is probably particularly hard to break into being that competition can spend large sums to try to beat the variance and put competitors out of business etc.

Can't wait to see the new games and revenue/profit without a substantial sports book operation in the books.

[AcoinL.L.C]

You'll have to run through the P&Ls to find that... It's there.

We only share company reserve details with unit holders that own at least 5% of the units on Havelock or 1,500,000 units. Just share your Havelock username with me over PM and I can get your the hookup. We do this for a variety of security reasons, and you know... public companies on Nasqaq don't just let their investors know what their account number and balances are, if you don't trust our operational reports - no one is preventing you from selling your units on the Havelock marketplace.

Feel free to follow up via e-mail, or IM if you have further concerns or questions.

We are well funded, and have confidence in where we are headed regardless of losses in the Sportsbook, which again - were insured.

Just to be clear: of the net -68.8262 btc loss over the last six months, how much of that is covered by insurance?

Where can I find information regarding the size of the company's remaining reserves?

Thanks

Actually, public companies do post their balance sheets. I liquidated my CBTC shares a couple months back after they refused to share what their bankroll is. You requesting that a shareholder own 5%+ of the shares is ridiculous, chances are no one outside of management owns more then 5% of the company.

No public company posts regarding their capital reserves outside of official reports that I know of but considering they raised 500+ BTC they seem to be on very firm ground financially even after the losses.

I do hope they find a way to mitigate the sports book losses though, I think Bitcoin sports betting is probably particularly hard to break into being that competition can spend large sums to try to beat the variance and put competitors out of business etc.

Can't wait to see the new games and revenue/profit without a substantial sports book operation in the books.

The SEC requires it, obviously CasinoBitcoin doesn't have to worry about SEC requirements (since they aren't registered with them), but it would greatly improve investors confidence. Im sure you have heard of these companies that do post their capital reserves:
http://finance.yahoo.com/q/bs?s=KO+Balance+Sheet&annual
http://finance.yahoo.com/q/bs?s=F+Balance+Sheet&annual
http://finance.yahoo.com/q/bs?s=MSFT+Balance+Sheet

CasinoBitcoin is only worth a third of what it used to be several months ago, its completely related to the fact that the company keeps taking big hits month after month, and not knowing if CasinoBitcoin can absorb. According to havelock they raised ~924.85BTC, losing 68BTC is ~8% of their total raised. This also doesn't account for the costs acquiring Bit777 or Peerbet.

I actually like CasinoBitcoin, their team is very active in the forums and trying to get new customers, I think they have done a good job running the business (adding new games, sportsbook insurance), but their investor relations are terrible.

[MidwestMiner]

You'll have to run through the P&Ls to find that... It's there.

We only share company reserve details with unit holders that own at least 5% of the units on Havelock or 1,500,000 units. Just share your Havelock username with me over PM and I can get your the hookup. We do this for a variety of security reasons, and you know... public companies on Nasqaq don't just let their investors know what their account number and balances are, if you don't trust our operational reports - no one is preventing you from selling your units on the Havelock marketplace.

Feel free to follow up via e-mail, or IM if you have further concerns or questions.

We are well funded, and have confidence in where we are headed regardless of losses in the Sportsbook, which again - were insured.

Just to be clear: of the net -68.8262 btc loss over the last six months, how much of that is covered by insurance?

Where can I find information regarding the size of the company's remaining reserves?

Thanks

Actually, public companies do post their balance sheets. I liquidated my CBTC shares a couple months back after they refused to share what their bankroll is. You requesting that a shareholder own 5%+ of the shares is ridiculous, chances are no one outside of management owns more then 5% of the company.

No public company posts regarding their capital reserves outside of official reports that I know of but considering they raised 500+ BTC they seem to be on very firm ground financially even after the losses.

I do hope they find a way to mitigate the sports book losses though, I think Bitcoin sports betting is probably particularly hard to break into being that competition can spend large sums to try to beat the variance and put competitors out of business etc.

Can't wait to see the new games and revenue/profit without a substantial sports book operation in the books.

The SEC requires it, obviously CasinoBitcoin doesn't have to worry about SEC requirements (since they aren't registered with them), but it would greatly improve investors confidence. Im sure you have heard of these companies that do post their capital reserves:
http://finance.yahoo.com/q/bs?s=KO+Balance+Sheet&annual
http://finance.yahoo.com/q/bs?s=F+Balance+Sheet&annual
http://finance.yahoo.com/q/bs?s=MSFT+Balance+Sheet

CasinoBitcoin is only worth a third of what it used to be several months ago, its completely related to the fact that the company keeps taking big hits month after month, and not knowing if CasinoBitcoin can absorb. According to havelock they raised ~924.85BTC, losing 68BTC is ~8% of their total raised. This also doesn't account for the costs acquiring Bit777 or Peerbet.

I actually like CasinoBitcoin, their team is very active in the forums and trying to get new customers, I think they have done a good job running the business (adding new games, sportsbook insurance), but their ipresentationpresent.

I agree. But I still prefer a company (if I have to choose) that keeps their head down and work on the business compared to focusing all their time of flashy presentations.

Looking forward to a clean report this month(fingers crossed).

[Stego]

Hello, when the march report is going to be available ?

[casinobitco]

It will be published in Havelock within 48 hours.

Hello, when the march report is going to be available ?

[AcoinL.L.C]

You'll have to run through the P&Ls to find that... It's there.

We only share company reserve details with unit holders that own at least 5% of the units on Havelock or 1,500,000 units. Just share your Havelock username with me over PM and I can get your the hookup. We do this for a variety of security reasons, and you know... public companies on Nasqaq don't just let their investors know what their account number and balances are, if you don't trust our operational reports - no one is preventing you from selling your units on the Havelock marketplace.

Feel free to follow up via e-mail, or IM if you have further concerns or questions.

We are well funded, and have confidence in where we are headed regardless of losses in the Sportsbook, which again - were insured.

Just to be clear: of the net -68.8262 btc loss over the last six months, how much of that is covered by insurance?

Where can I find information regarding the size of the company's remaining reserves?

Thanks

Actually, public companies do post their balance sheets. I liquidated my CBTC shares a couple months back after they refused to share what their bankroll is. You requesting that a shareholder own 5%+ of the shares is ridiculous, chances are no one outside of management owns more then 5% of the company.

No public company posts regarding their capital reserves outside of official reports that I know of but considering they raised 500+ BTC they seem to be on very firm ground financially even after the losses.

I do hope they find a way to mitigate the sports book losses though, I think Bitcoin sports betting is probably particularly hard to break into being that competition can spend large sums to try to beat the variance and put competitors out of business etc.

Can't wait to see the new games and revenue/profit without a substantial sports book operation in the books.

The SEC requires it, obviously CasinoBitcoin doesn't have to worry about SEC requirements (since they aren't registered with them), but it would greatly improve investors confidence. Im sure you have heard of these companies that do post their capital reserves:
http://finance.yahoo.com/q/bs?s=KO+Balance+Sheet&annual
http://finance.yahoo.com/q/bs?s=F+Balance+Sheet&annual
http://finance.yahoo.com/q/bs?s=MSFT+Balance+Sheet

CasinoBitcoin is only worth a third of what it used to be several months ago, its completely related to the fact that the company keeps taking big hits month after month, and not knowing if CasinoBitcoin can absorb. According to havelock they raised ~924.85BTC, losing 68BTC is ~8% of their total raised. This also doesn't account for the costs acquiring Bit777 or Peerbet.

I actually like CasinoBitcoin, their team is very active in the forums and trying to get new customers, I think they have done a good job running the business (adding new games, sportsbook insurance), but their ipresentationpresent.

I agree. But I still prefer a company (if I have to choose) that keeps their head down and work on the business compared to focusing all their time of flashy presentations.

Looking forward to a clean report this month(fingers crossed).

Its not about flashy presentations, they share a minimal amount of information to investors, with little explanation for big expenses.

[casinobitco]

Report added to havelock: https://www.havelockinvestments.com/reports.php

Overall March was one of the first profitable months (after expenses) in a while... Clearly, not getting hammered in the Sportsbook is one the main contributors, and the folks close to the day to day operations are taking this fact into consideration moving forward in 2015. Also, as we won't have a 3rd party managed book in Q2 - that rather large monthly expense (~2800) will disappear, which is good for the bottom line.

We still have a ton of SEO and Marketing Opportunities in front of us to grow revenue, it's the team's main concern and we are spending a significant amount of attention on it at the moment.

Positively, we are launching our new Peer to Peer Game, Bitcoin Rush this month - it's a first of its kind in this marketplace and is a highly strategic, quick, game that should give us some positive press and hopefully increased traffic and players.

Edit / Note: We had ~4.3 btc fraud in March due to double-spends based on a bug with the BlockChain.Info API. As folks that follow our progress closely know, we've had several issues with the stability and reliability of their API all year, and this was the last straw for us as their management team didn't provide a refund based on their bug. We've since moved away from them to another provider, and now require all deposits to have 1 confirmation before we credit the user's balance.

[Stego]

Thank you for the report and your information =)
Does this mean we will receive dividends ?

[casinobitco]

Hi Stego

Dividends are handled quarterly, not monthly, so that we can sustain growth and beat week to week variance.

As we had negative revenue for Q1, there won't be a dividend... this is detailed on the 2nd page of the report.

Thank you for the report and your information =)
Does this mean we will receive dividends ?

[Stego]

Alright, thanks !