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larem
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February 08, 2014, 08:14:57 PM |
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Most sportsbooks make 5-10% profit over time -- the exception is Pinnacle which has higher volume and sharper lines. I hear they make 3-5%.
I'd argue, then, that maybe CBTC should follow suit. There's a reason the other sites have much higher ROI estimates. |
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casinobitcoin (OP)
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February 08, 2014, 10:14:30 PM |
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Most sportsbooks make 5-10% profit over time -- the exception is Pinnacle which has higher volume and sharper lines. I hear they make 3-5%.
Our #'s show about 4%-4.5% for Vegas - about equal to standard -110 vigorish - and a little lower online. With reduced juice, a good target is 3%. However, there are some profitable bettors who need to be monitored to hit that. |
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casinobitcoin (OP)
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February 08, 2014, 10:17:58 PM
Last edit: February 09, 2014, 05:17:40 PM by casinobitcoin |
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Limiting "winners" is NOT a good idea. Anyone who understand variance knows that if you have 1000 bettors -- a certain percentage will appear to be "winners". If you limit them, they can leave... create negative press (CasinoBitco.in DOESN'T WANT WINNERS)... and take their winnings somewhere else where they will eventually LOSE back their "winnings".
Estimates are that 1% of gamblers are long term winners (Solid data coming from friends who have worked in sportsbooks for years).
CasinoBitco.in hasn't been business for more than a few months and they are already "capping" winners? This is ridiculous. 95% of who they think are "winners" are probably just having a good run. They are kicking the "profits out" by limiting them from my experience in the industry.
People here have mentioned "Pinnacle". They are the KINGS because they don't limit "winners". They use "winners" to sharpen their lines. And a lot of "pro wannabe gamblers" just won't play in a site that "limits winners" -- they want to feel like they can just keep on winning.
Will a few sharps get in there? Sure... But will the sharps consistently win over time? Very, VERY rare. And if they do it's part of the game.
The bitcoin book that models Pinnacle will win. Anything else will go to the grave.
While I agree with your sentiment, 2 points I'd make here: 1 - As we develop the capability to adjust our lines and limits to better balance action, we'll be able to operate moreso on the Pinnacle model. However, we're still a few months out here from being able to do everything we want to do. 2 - We do happen to be dealing with some of that "1%" professional, winning action - that is certain beyond a doubt (hard evidence here) - and we're assuming the other bitcoin books are as well, thus the lower limits and worse odds over the past few weeks. So, some action is necessary. |
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casinobitcoin (OP)
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February 09, 2014, 05:20:14 PM |
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Adding one point here -
We aren't going to limit winners across the board. Winners are more than welcome at CBTC! We just need to protect our bottom line from super-high volume pros.
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batman, not crabman
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February 10, 2014, 10:00:45 AM |
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Have I missed something important? The share price has gone up pretty quickly over the last day or so.
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A horse walks into a bar and the barman says "Give me some Bitcoin!"
17TDYWdeL3GU2fsMSpV7itLYS2UJ91dCDx
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Lloydie
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February 10, 2014, 10:06:52 AM |
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CBTC is profitable, growing, responsive, transparent and about to finalise acquisition. Did I miss anything?
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bitranger
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February 10, 2014, 02:29:05 PM |
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CBTC is profitable, growing, responsive, transparent and about to finalise acquisition. Did I miss anything?
Yes you missed Way UNDERVALUED IMO And most don't figure out the smart money bought until it finally levels off!..it looks like we still have a ways to go though..just a WAG but we could bust through all time high in the next few weeks..for now it is consolidating between 18-20...holding up really good |
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casinobitco
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Activity: 1833
Merit: 1030
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February 11, 2014, 04:45:48 PM |
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Investors - We are happy to introduce our 5th Provably Fair HTML5 Game in the Casino: Video Poker! Play for Free, or Bitcoin, here: http://casinobitco.in/casino/jacksorbetter/FYI - More news coming this week as lawyers from both teams are in final review of the Acquisition Agreement. |
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Jungian
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Activity: 930
Merit: 1010
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February 11, 2014, 05:01:09 PM |
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Investors - We are happy to introduce our 5th Provably Fair HTML5 Game in the Casino: Video Poker! Play for Free, or Bitcoin, here: http://casinobitco.in/casino/jacksorbetter/FYI - More news coming this week as lawyers from both teams are in final review of the Acquisition Agreement. Great news! |
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bitranger
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February 11, 2014, 09:57:40 PM |
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Nice News!!
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_mr_e
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Merit: 1000
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February 12, 2014, 03:16:53 PM |
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http://www.huffingtonpost.ca/2014/02/11/bitcoin-regulation-canada-federal-budget-2014_n_4769489.html"The government plans to bring virtual currencies such as the Bitcoin under the provisions of the money-laundering and anti-terrorism financing regulations. "It is important to continually improve Canada's regime to address emerging risks, including virtual currencies such as Bitcoin, that threaten Canada's international leadership in the fight against money laundering and terrorist financing." Online casinos will also be subject to these rules." How will this effect us?
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freedomno1
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Activity: 1806
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Learning the troll avoidance button :)
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February 13, 2014, 03:56:36 AM |
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That explains why my walls triggered all at one time interesting question for them to respond too
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Believing in Bitcoins and it's ability to change the world
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bitranger
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February 13, 2014, 04:33:24 AM |
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That explains why my walls triggered all at one time interesting question for them to respond too
Someone dumped 400K in about 10 minutes all the way down to 0.000020 flash crash..lol |
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freedomno1
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Activity: 1806
Merit: 1090
Learning the troll avoidance button :)
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February 13, 2014, 07:02:23 AM |
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That explains why my walls triggered all at one time interesting question for them to respond too
Someone dumped 400K in about 10 minutes all the way down to 0.000020 flash crash..lol Once in a while it pays to leave hangers alone and forget about them I guess happened to me in Korbman once lol |
Believing in Bitcoins and it's ability to change the world
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havelock
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February 13, 2014, 03:58:19 PM |
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One of our users placed one too many zeros when placing an order for a sale causing the flash crash.
Just a friendly reminder to always double, triple check before placing an order.
On the other hand, many of our users managed to pickup very cheap units.
Havelock Investments
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pedrog
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Activity: 2786
Merit: 1031
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February 13, 2014, 04:06:09 PM |
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One of our users placed one too many zeros when placing an order for a sale causing the flash crash.
Just a friendly reminder to always double, triple check before placing an order.
On the other hand, many of our users managed to pickup very cheap units.
Havelock Investments
Ouch! And thank you!  |
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bitranger
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February 13, 2014, 04:13:43 PM |
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One of our users placed one too many zeros when placing an order for a sale causing the flash crash.
Just a friendly reminder to always double, triple check before placing an order.
On the other hand, many of our users managed to pickup very cheap units.
Havelock Investments
Wow..i figured as much when the price bounced back so quick... |
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_mr_e
Legendary
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Activity: 817
Merit: 1000
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February 13, 2014, 05:47:50 PM |
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One of our users placed one too many zeros when placing an order for a sale causing the flash crash.
Just a friendly reminder to always double, triple check before placing an order.
On the other hand, many of our users managed to pickup very cheap units.
Havelock Investments
Wow, also seemed to have a pretty huge permanent effect on the price. The psychology of that is incredible. |
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nycgoat
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February 13, 2014, 10:40:32 PM |
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_mr_e
Legendary
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Merit: 1000
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February 13, 2014, 10:45:26 PM |
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Strange that it was posted there first... Are we sure that is our fearless leader? |
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