[HAVELOCK] CasinoBitco.in CBTC

[casinobitco]

Two thumbs up!

So how about those August numbers?

Coming tomorrow, Close of Business!

[jrlichtman]

Two thumbs up!

So how about those August numbers?

Coming tomorrow, Close of Business!

In that case, sorry for being a pest!

[ranlo]

Two thumbs up!

So how about those August numbers?

Coming tomorrow, Close of Business!

In that case, sorry for being a pest!

Just hoping we're on the right track for dividends, .

BTW, @CBTC... what happens with the proceeds from the Peerbet sale? Are those dividends or?

[casinobitco]

Two thumbs up!

So how about those August numbers?

Coming tomorrow, Close of Business!

In that case, sorry for being a pest!

Just hoping we're on the right track for dividends, .

BTW, @CBTC... what happens with the proceeds from the Peerbet sale? Are those dividends or?

Aug is just the 2nd month of the quarter, so no dividends this month even if we broke records. We will sort out any potential dividends after the end of the quarter  (September)

Re PeerBet sale: We will treat it like revenue (after expenses incurred and liabilities - normal stuff here); however, anyone that follows up closely knows we have a few bad quarters to dig out of, so the proceeds will go towards that. Anything left over is returned to investors with respect to our normal dividend distribution model.

[ranlo]

Two thumbs up!

So how about those August numbers?

Coming tomorrow, Close of Business!

In that case, sorry for being a pest!

Just hoping we're on the right track for dividends, .

BTW, @CBTC... what happens with the proceeds from the Peerbet sale? Are those dividends or?

Aug is just the 2nd month of the quarter, so no dividends this month even if we broke records. We will sort out any potential dividends after the end of the quarter  (September)

Re PeerBet sale: We will treat it like revenue (after expenses incurred and liabilities - normal stuff here); however, anyone that follows up closely knows we have a few bad quarters to dig out of, so the proceeds will go towards that. Anything left over is returned to investors with respect to our normal dividend distribution model.

Got it. I wasn't aware we were only doing quarterly dividends here, .

[casinobitco]

Running into VPN issues with the office - so will monthly financials will be delayed about a day.

[casinobitco]

August Metrics and Financials below.

Please note August is the 2nd month of the quarter, we will have a full (pdf) report available about a week or two after the quarter finishes.

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

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

Sportsbook:         -8.233 btc
HTML5 Casino:     +24.28 btc
Bit777/ PeerBet:  +0.394 btc

Overall Month: +16.441 btc

Noteworthy callouts
PeerBet Sale - We have very solid interest from a handful of potential buyers. The past week we had several technical walkthroughs and are in the midst of ironing out remaining questions as we move into negotiation phases. While we do have a sense of urgency to execute the sale of Peerbet, we remain dedicated to the current userbase at PeerBet and want to ensure a very smooth handoff to a qualified and trustworthy buyer, therefore we have no specific timeframe of when this sale will be completed.

Sportsbook - We were not able to solidify any deal with a third party as the one-time and on-going costs were just too expensive. We do have some custom solutions we can build internally to ensure we are operating at 0-risk; however we are awaiting to see how the month of September (with US Football) goes before we decide to pursue that path or shut the sportsbook down completely.

BitcoinRush - Interest is picking up in our flagship Peer to Peer game as we served nearly 4000 games in the month of August.  We are currently finalizing a redesign which will make it far easier to create a game, and move up the "ladder" to earn more bitcoin, thus creating better action and more commission for the house. This will be launched this month, and once launched - we will spend some money in advertising this very unique game to the marketplace.

[ranlo]

August Metrics and Financials below.

Please note August is the 2nd month of the quarter, we will have a full (pdf) report available about a week or two after the quarter finishes.

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

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

Sportsbook:         -8.233 btc
HTML5 Casino:     +24.28 btc
Bit777/ PeerBet:  +0.394 btc

Overall Month: +16.441 btc

Noteworthy callouts
PeerBet Sale - We have very solid interest from a handful of potential buyers. The past week we had several technical walkthroughs and are in the midst of ironing out remaining questions as we move into negotiation phases. While we do have a sense of urgency to execute the sale of Peerbet, we remain dedicated to the current userbase at PeerBet and want to ensure a very smooth handoff to a qualified and trustworthy buyer, therefore we have no specific timeframe of when this sale will be completed.

Sportsbook - We were not able to solidify any deal with a third party as the one-time and on-going costs were just too expensive. We do have some custom solutions we can build internally to ensure we are operating at 0-risk; however we are awaiting to see how the month of September (with US Football) goes before we decide to pursue that path or shut the sportsbook down completely.

BitcoinRush - Interest is picking up in our flagship Peer to Peer game as we served nearly 4000 games in the month of August.  We are currently finalizing a redesign which will make it far easier to create a game, and move up the "ladder" to earn more bitcoin, thus creating better action and more commission for the house. This will be launched this month, and once launched - we will spend some money in advertising this very unique game to the marketplace.

I like the format of this monthly report. Saw it in my email as well. Can you do this every month? It's a great tl;dr

[casinobitco]

August Metrics and Financials below.

Please note August is the 2nd month of the quarter, we will have a full (pdf) report available about a week or two after the quarter finishes.

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

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

Sportsbook:         -8.233 btc
HTML5 Casino:     +24.28 btc
Bit777/ PeerBet:  +0.394 btc

Overall Month: +16.441 btc

Noteworthy callouts
PeerBet Sale - We have very solid interest from a handful of potential buyers. The past week we had several technical walkthroughs and are in the midst of ironing out remaining questions as we move into negotiation phases. While we do have a sense of urgency to execute the sale of Peerbet, we remain dedicated to the current userbase at PeerBet and want to ensure a very smooth handoff to a qualified and trustworthy buyer, therefore we have no specific timeframe of when this sale will be completed.

Sportsbook - We were not able to solidify any deal with a third party as the one-time and on-going costs were just too expensive. We do have some custom solutions we can build internally to ensure we are operating at 0-risk; however we are awaiting to see how the month of September (with US Football) goes before we decide to pursue that path or shut the sportsbook down completely.

BitcoinRush - Interest is picking up in our flagship Peer to Peer game as we served nearly 4000 games in the month of August.  We are currently finalizing a redesign which will make it far easier to create a game, and move up the "ladder" to earn more bitcoin, thus creating better action and more commission for the house. This will be launched this month, and once launched - we will spend some money in advertising this very unique game to the marketplace.

I like the format of this monthly report. Saw it in my email as well. Can you do this every month? It's a great tl;dr

Thanks and Sure thing... Quarterly we put out a much more comprehensive PDF, so stay tuned for that next month.

[ranlo]

August Metrics and Financials below.

Please note August is the 2nd month of the quarter, we will have a full (pdf) report available about a week or two after the quarter finishes.

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

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

Sportsbook:         -8.233 btc
HTML5 Casino:     +24.28 btc
Bit777/ PeerBet:  +0.394 btc

Overall Month: +16.441 btc

Noteworthy callouts
PeerBet Sale - We have very solid interest from a handful of potential buyers. The past week we had several technical walkthroughs and are in the midst of ironing out remaining questions as we move into negotiation phases. While we do have a sense of urgency to execute the sale of Peerbet, we remain dedicated to the current userbase at PeerBet and want to ensure a very smooth handoff to a qualified and trustworthy buyer, therefore we have no specific timeframe of when this sale will be completed.

Sportsbook - We were not able to solidify any deal with a third party as the one-time and on-going costs were just too expensive. We do have some custom solutions we can build internally to ensure we are operating at 0-risk; however we are awaiting to see how the month of September (with US Football) goes before we decide to pursue that path or shut the sportsbook down completely.

BitcoinRush - Interest is picking up in our flagship Peer to Peer game as we served nearly 4000 games in the month of August.  We are currently finalizing a redesign which will make it far easier to create a game, and move up the "ladder" to earn more bitcoin, thus creating better action and more commission for the house. This will be launched this month, and once launched - we will spend some money in advertising this very unique game to the marketplace.

I like the format of this monthly report. Saw it in my email as well. Can you do this every month? It's a great tl;dr

Thanks and Sure thing... Quarterly we put out a much more comprehensive PDF, so stay tuned for that next month.

Yeah, I like the detail of the PDF as well, but for a quick glance, most of us just want to see if the house is up or down and by how much, =)

[jrlichtman]

So how about those September numbers?

[casinobitco]

September 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:         +2.251 btc
HTML5 Casino:     +9.413 btc
Bit777/ PeerBet (CBTC take):  +3.6479 btc

Overall Month: +15.3137 btc

September was the last month in Q3, below are the consolidated metrics for the quarter

Sportsbook:         -8.732 btc
HTML5 Casino:     +46.528 btc
Bit777/ PeerBet (CBTC take):  +3.2287 btc

Overall Quarterly Revenue: +41.0247 btc

As mentioned at the end of last quarter, we made a very concentrated effort to keep expenses down this past quarter, in fact - we only spent 40.768 btc in Q3 vs 91.176 btc in Q2, that's a 76% reduction quarter over quarter. Collectively we are content with our current burn rate and can keep it low and consistent until we sell Peerbet / Bit777.

Also good news is that after expenses for the quarter (-40.768 btc), we showed a small profit. While small, this is the first quarter in a year that we’ve been in the black and is something to build on.  Bad news is that it’s not worth issuing a dividend considering the small amount.


Noteworthy callouts
PeerBet Sale - Selling PeerBet and Bit777 is still our main focus, and while we had some solid interest from folks via this forum - we never received a real offer. With that, we listed these sites on a traditional online brokerage and have already received solid interest in the past week. It's still tough to gauge how quickly we'll be able to execute on any sale, but we definitely feel it's one of the most critical aspects to the future of CBTC as it will allow us to reinvest into product development and marketing for BitcoinRush.io, and pave the way to supporting dividends again.

As a reminder, we are offering a 5% finders fee to anyone that can refer us to a buyer, please contact me directly via PM with any serious consideration.

SEO - This is still one of the most critical areas which will directly impact our revenues. While we believe we have a very attractive set of unique games and options to the niche bitcoin gaming community -  paid advertisements on this forum, and a solid reputation can only go so far. We need to rank high in the key search terms as bitcoin gaming continues to grow with bitcoin adoption.  Collectively with the help our a third party that specializes in iGaming SEO - we are seeing an uptick on organic traffic and better domain strength; however, we are still 2-4 months out from reaping the benefits of our new domain and work we put into our optimization efforts.

Sportsbook - We worked diligently to ensure we are mitigating our risk and exposure to a minimum in this vertical. Longer term, as we have more financial and human resources to invest back into the Sportsbook, we do have a solution which will allow us to run the sportsbook with no risk, as well as increasing the types of wagers and props which we think will allow us to attract more players away from the competition.

BitcoinRush - We made some more enhancements on Bitcoin Rush the past month, including adding a new "ladder board" which allows a user to work his way up from 0.1 mBTC all the way up to over a full bitcoin if he continues to progress to the next level after a win. (screen shot below)

Functionally we believe the game is in a perfect spot and doesn't need any further technical or UX refinements; we now will shift our focus in the next quarter to increasing awareness of the game in various venues as we still think the peer to peer aspect of the game is something which the bitcoin gaming community has desired.

[ranlo]

September Metrics and Financials below.

It's great to see the site in the black for the first time in like a year! At what profit mark do you start paying dividends again?

[shmoula]

nice work, thanks 4 info!

[casinobitco]

October 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:         -4.65 btc
HTML5 Casino:     +5.665 btc
Bit777/ PeerBet:  -17.04 btc

Overall Month: -16.025 btc

Noteworthy callouts
PeerBet had a pretty bad month starting in early October where a few lucky players went red hot and won over 55 btc in profit. Considering we fund ~30% of the bankroll – we took a sizeable loss as well. However, we are happy to report that we have received two different offers for Peerbet and Bit777 and are now finalizing the path forward for all parties. We hope to share more details (and hopefully a closed deal announcement) by the end of the year.

Sportsbook – The sportsbook took a modest loss on relatively low volume. While we are seeing better traffic on the weekend with US Football in full swing, we are no doubt down in volume year over year. Consider that in October 2014, we took over 2300 bets for a total of 1316 btc in handle compared to October 2015 where we only took 748 bets for 159 btc in volume.

We attribute our decreased action in the sportsbook to the following, fixable, pain points:

·         A lack of active marketing of BitcoinRush

·         Lower Limits than last year (we need lower limits since we are taking on 100% of the risk)


Future considerations

With the eventual sell of Peerbet / Bit777, we are taking a very close look at what we need to improve BitcoinRush.io to return to profitability, this includes new development in the Sportsbook, Slots Integration and paid marketing; however, in order to achieve this we will be seeking additional partners in exchange for equity.  Please note - we will not be issuing any new Havelock units, instead we will be transferring units currently owned by management to any new partners - please contact us directly to learn more.

We know, and encourage unit holders to understand, that this will not happen overnight and will take hard work and patience; however, we feel extremely confident that the Bitcoin Gaming marketplace is continuing to grow and that BitcoinRush.io with its solid reputation, and unique offerings can still capture market share from some of the earliest Bitcoin Casinos as well as the new professional competition which has entered the marketplace.

[ranlo]

October 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:         -4.65 btc
HTML5 Casino:     +5.665 btc
Bit777/ PeerBet:  -17.04 btc

Overall Month: -16.025 btc

Noteworthy callouts
PeerBet had a pretty bad month starting in early October where a few lucky players went red hot and won over 55 btc in profit. Considering we fund ~30% of the bankroll – we took a sizeable loss as well. However, we are happy to report that we have received two different offers for Peerbet and Bit777 and are now finalizing the path forward for all parties. We hope to share more details (and hopefully a closed deal announcement) by the end of the year.

Sportsbook – The sportsbook took a modest loss on relatively low volume. While we are seeing better traffic on the weekend with US Football in full swing, we are no doubt down in volume year over year. Consider that in October 2014, we took over 2300 bets for a total of 1316 btc in handle compared to October 2015 where we only took 748 bets for 159 btc in volume.

We attribute our decreased action in the sportsbook to the following, fixable, pain points:

·         A lack of active marketing of BitcoinRush

·         Lower Limits than last year (we need lower limits since we are taking on 100% of the risk)


Future considerations

With the eventual sell of Peerbet / Bit777, we are taking a very close look at what we need to improve BitcoinRush.io to return to profitability, this includes new development in the Sportsbook, Slots Integration and paid marketing; however, in order to achieve this we will be seeking additional partners in exchange for equity.  Please note - we will not be issuing any new Havelock units, instead we will be transferring units currently owned by management to any new partners - please contact us directly to learn more.

We know, and encourage unit holders to understand, that this will not happen overnight and will take hard work and patience; however, we feel extremely confident that the Bitcoin Gaming marketplace is continuing to grow and that BitcoinRush.io with its solid reputation, and unique offerings can still capture market share from some of the earliest Bitcoin Casinos as well as the new professional competition which has entered the marketplace.

Toss me a PM about the equity-based investing. I'm definitely interested in hearing what you're offering up.

On the Peerbet side, are you also including the other coins in the P/L statement, or is it just inclusive of BTC?

[casinobitco]

Toss me a PM about the equity-based investing. I'm definitely interested in hearing what you're offering up.

On the Peerbet side, are you also including the other coins in the P/L statement, or is it just inclusive of BTC?

Will do in the AM, Ranlo.

On peerbet, we do the strike price of alt-coin / BTC at the end of the month and just include that in the P&L. Normally, we are doing anywhere from 1 - 3 btc in profit in alt-coins, Doge and Litecoin leading the way.

[ranlo]

Toss me a PM about the equity-based investing. I'm definitely interested in hearing what you're offering up.

On the Peerbet side, are you also including the other coins in the P/L statement, or is it just inclusive of BTC?

Will do in the AM, Ranlo.

On peerbet, we do the strike price of alt-coin / BTC at the end of the month and just include that in the P&L. Normally, we are doing anywhere from 1 - 3 btc in profit in alt-coins, Doge and Litecoin leading the way.

Got it. Do you also liquidate some of the alts? Asking because let's say LTC is $2 and the site gains 100. The next month it's $1 and the site gains 0. Would this count as a profit of zero or a loss of $100?

[casinobitco]

Toss me a PM about the equity-based investing. I'm definitely interested in hearing what you're offering up.

On the Peerbet side, are you also including the other coins in the P/L statement, or is it just inclusive of BTC?

Will do in the AM, Ranlo.

On peerbet, we do the strike price of alt-coin / BTC at the end of the month and just include that in the P&L. Normally, we are doing anywhere from 1 - 3 btc in profit in alt-coins, Doge and Litecoin leading the way.

Got it. Do you also liquidate some of the alts? Asking because let's say LTC is $2 and the site gains 100. The next month it's $1 and the site gains 0. Would this count as a profit of zero or a loss of $100?

We've been exchanging alt-coin profit to btc at the end of each month when it's worthwhile (e.g. > ~0.10 btc)

[ranlo]

Toss me a PM about the equity-based investing. I'm definitely interested in hearing what you're offering up.

On the Peerbet side, are you also including the other coins in the P/L statement, or is it just inclusive of BTC?

Will do in the AM, Ranlo.

On peerbet, we do the strike price of alt-coin / BTC at the end of the month and just include that in the P&L. Normally, we are doing anywhere from 1 - 3 btc in profit in alt-coins, Doge and Litecoin leading the way.

Got it. Do you also liquidate some of the alts? Asking because let's say LTC is $2 and the site gains 100. The next month it's $1 and the site gains 0. Would this count as a profit of zero or a loss of $100?

We've been exchanging alt-coin profit to btc at the end of each month when it's worthwhile (e.g. > ~0.10 btc)

Awesome. Thanks for your time and transparency!