[ANN] Lottocoin as a SCAM

[noedelx]

I agree, if the dev had any balls then he would have left the old thread open and unmoderated and said "Lotwincasino is being called out as a scam by a bunch of people? Ok I'll remove it from the first post, sorry about that guys, we have a new poker game coming out!" That would have ended the dispute and saved face. Instead the douchebag DOESN'T address the concern, likely because he runs the scam casino himself, locks the thread, opens a new moderated one and deletes EVERY negative post forcing this one to be created. And even in the new thread still touts the scam casino as if everything that was posted was completely ignored. Is the dev a clueless idiot that doesn't care about his coin? Or is he the scammer behind it all, you decide, but I am leaning towards the latter.

The Casino is Operated by Redcoin only

And you know this as an absolute 100% fact, and you also know for a fact that mrlotto has no alternate accounts at all, or that he didn't create the coin solely for the purpose of spamming rigged games? Yeah right, pull the other one. Also this still doesn't make up for 1. locking the thread and policing the new one, 2. never addressing the complaints, 3. still touting the scam casino, 4. calling all of us idiots. It's too late to save face, the damage is done.

Why would he Rig the Casino himself? he has A Mining rig + Premined coins he would barely make anything on the Casino
Compared to what he has

Casino makes:

[1714123391]

1714123391

[1714123391]

1714123391

[1714123391]

1714123391

[drepteck]

Wow how naive and gullible do you think we are to believe those stats. Give me a break. Anyways, what needed to be said was said and I'm sticking to it based solely on MY experience.

[BigNiggaTigga]

I agree, if the dev had any balls then he would have left the old thread open and unmoderated and said "Lotwincasino is being called out as a scam by a bunch of people? Ok I'll remove it from the first post, sorry about that guys, we have a new poker game coming out!" That would have ended the dispute and saved face. Instead the douchebag DOESN'T address the concern, likely because he runs the scam casino himself, locks the thread, opens a new moderated one and deletes EVERY negative post forcing this one to be created. And even in the new thread still touts the scam casino as if everything that was posted was completely ignored. Is the dev a clueless idiot that doesn't care about his coin? Or is he the scammer behind it all, you decide, but I am leaning towards the latter.

The Casino is Operated by Redcoin only

And you know this as an absolute 100% fact, and you also know for a fact that mrlotto has no alternate accounts at all, or that he didn't create the coin solely for the purpose of spamming rigged games? Yeah right, pull the other one. Also this still doesn't make up for 1. locking the thread and policing the new one, 2. never addressing the complaints, 3. still touting the scam casino, 4. calling all of us idiots. It's too late to save face, the damage is done.

Why would he Rig the Casino himself? he has A Mining rig + Premined coins he would barely make anything on the Casino
Compared to what he has

Casino makes:

I can post pics too!

[noedelx]

Wow how naive and gullible do you think we are to believe those stats. Give me a break. Anyways, what needed to be said was said and I'm sticking to it based solely on MY experience.

they look fine to me but anyhow thats your opinion

[noedelx]

I agree, if the dev had any balls then he would have left the old thread open and unmoderated and said "Lotwincasino is being called out as a scam by a bunch of people? Ok I'll remove it from the first post, sorry about that guys, we have a new poker game coming out!" That would have ended the dispute and saved face. Instead the douchebag DOESN'T address the concern, likely because he runs the scam casino himself, locks the thread, opens a new moderated one and deletes EVERY negative post forcing this one to be created. And even in the new thread still touts the scam casino as if everything that was posted was completely ignored. Is the dev a clueless idiot that doesn't care about his coin? Or is he the scammer behind it all, you decide, but I am leaning towards the latter.

The Casino is Operated by Redcoin only

And you know this as an absolute 100% fact, and you also know for a fact that mrlotto has no alternate accounts at all, or that he didn't create the coin solely for the purpose of spamming rigged games? Yeah right, pull the other one. Also this still doesn't make up for 1. locking the thread and policing the new one, 2. never addressing the complaints, 3. still touting the scam casino, 4. calling all of us idiots. It's too late to save face, the damage is done.

Why would he Rig the Casino himself? he has A Mining rig + Premined coins he would barely make anything on the Casino
Compared to what he has

Casino makes:

I can post pics too!

^^

[Redcoin]

deptechs stats



YOu lost 100k in 300 hands, ok. but also your biggest win was 60,000, maybe some others also? and theres some big bets in there. you only need to lose 18 6k bets to lose 100k

You should of tried different games, if you win big on a machine, or its paying shit move to a different machine.

some pay small wins more frequently and less big wins, while others pay big wins more often and less small wins.
and of corse luck is involved

[drepteck]

deptechs stats

http://www.lotwincasino.com/1/drepteck.jpg

YOu lost 100k in 300 hands, ok. but also your biggest win was 60,000, maybe some others also? and theres some big bets in there. you only need to lose 18 6k bets to lose 100k

You should of tried different games, if you win big on a machine, or its paying shit move to a different machine.

some pay small wins more frequently and less big wins, while others pay big wins more often and less small wins.
and of corse luck is involved

This proves the scam though. 260,000 lost, 160,000 won in 333 hands. You are lieing by saying it's 99% returns in your games. If it was really 99% returns and the deposit was 100,000 coins, then the win/loss should looks something like 10,000,000 lost 9,900,000 won and the game would have lasted MUCH longer than it did, before I finally succumbed to the 1% house edge. I've been to real casinos so it was pretty easy for me to see something was not right with your casino. 400,000 total points won/lost before I get emptied of 100,000 coins is not a 1% house edge AT ALL. To add insult to injury I won the mega jackpot. If I hadn't won that, then I would have lost my entire 100,000 coins in about 5 minutes. Also telling someone to move to a different machine if it's paying shit is such an idiotic thing to say.

Runs the bitwin casino which is rigged such that the casino is guaranteed to win when its bankroll is low. Left me negative trust rating saying:

"Posts slander against bitwin, in a effort to drive traffic to his own site"

It's only slander if it is untrue, whereas he has admitted that bitwin will deliberately cheat players when it is low on funds. And I didn't (and still don't) even mention my own site. People understand what's fair and what isn't. Provable fairness trumps admitted cheating every time.

Yup I knew it, read this guys trust feedback.

Runs a bitcoin and alternate coin casino that is a scam. Documented proof is in the reference link.

Runs a casino which you cant win we should call that a scam

Runs a rigged casino (see link) and slanders provably fair casinos.


Oldminer, who is always constantly in the Lottocoin thread is also involved with bitwin. I am almost willing to bet the Mrlotto is an altcoin sock puppet account for either Oldminer or Redcoin, or maybe even both.

Here is the feedback for this user:

Involved in a cheating casino

Is involved with the bitwin casino, which he admits is rigged such that it deliberately makes player bets lose when it is short of bankroll.

Deletes all posts pointing this out from his self-moderated thread.

Refuses to acknowledge that provable fairness is a proof of fairness. Somehow thinks his rigged casino is more fair than the majority of Bitcoin games which offer truly provably fair games.

Involved in a gambling scam. Do not trust.

A scammer that runs a bitcoin casino should not be trusted.

Runs a rigged casino, deletes all criticism. Slightly above the scammer level.


Conclusion: AVOID LOTTOCOIN AND ALL CRYPTO GAMBLING
Wait for an established casino like Royal Ace first! Chances are they will use BTC.

[kpg99miner]

I am not sure you quite understand 99% returns. Just because you played 333 hands does not mean that you will get back 99% of what you bet. There will be people that win big jackpots and walk away. That is part of the 99% returns. I have played hundreds and hundreds of games there, usually I do pretty good on the poker and BJ, but when I play the slots overall I lose. Guess what it is like when I go to Vegas? I do OK on BJ and poker but not so well on slots. I played reel mob for over half an hour the other day on 10K LOT I was up as high as 25% in some of the plays I won several of the gambles 50/50 and I lost a bunch of them it is a 50/50 chance. I could have walked away many times while I was ahead, but I was having fun so I played until my LOT was gone. I do not play 50 lines I usually play 5-20 lines per spin when I play it. You should try going to Vegas and play slots and see how long you last. And as I always say do not gamble if you do not have money to play. Gambling as I see it is just entertainment and nothing more, I do not expect to walk away with any money when I am done gambling, but sometimes I do.

I certainly think your comment about mr lotto is completely wrong, he is not in cahoots to scam people with the casinos that use LOT are you out of your mind? There was 380M LOT (2%) premine on the coin. He could have cashed out early and walked away, but no he has spent it on bounty rewards to get games going using the coin, giveaways to get people involved and interested in the coin, sure the devs kept plenty of coins 50M I think was the number I saw on the thread but do you expect someone to spend months of their life developing something and not expecting to make something off of it for free? He has been busy developing a new multiplayer poker game, guess how much time that takes. He has been busy trying to get the website in order. I run a small web based business and you would not believe how much time you have to spend doing little mop ups all of the time, it takes a lot of time out of your day just trying to keep up.

[kpg99miner]

http://en.wikipedia.org/wiki/Problem_gambling

Indeed.

It also goes on to say "The gambler's fallacy is the erroneous belief that a win in a game of pure chance is "due" after a string of losses."

A place I part ways with some of the human race. Maybe having worked in a casino as a kid or watching markets forever or both. But how or why do people gamble against fixed odds against them and think they are not going to lose?

To me it is like jumping off bridge thinking you will fly. It's math dude. It isn't going to change for you.

Strange.

+1

[kpg99miner]

Hello mate.

Casinos are profitable based on maths. So I want to prove you that you are vary wrong.
Just to mention that I dont know that website nor the devs of lotocoin or website owners.

As I checked on website they use American roulette, which mean have dubble zero.

The chances for a Double-Zero Roulette is 47.37% on Red or Black and 5.26% on greens (2.63% on each)  (source)

So I wrote a little javascript code to take for example 100000 spins (with that odds) and count how many times the same color picked in a row.

And here are the results:

Code:

Picks	Percentage	Same in a row
Red	47.508		12
Black	47.242		17
Zero	2.673		2
DZero	2.577		1

Of course  you can check my code and run tests here: http://jsfiddle.net/4Q65v/1/

So, giving you 15 times in a row Black, its normal! Its simple maths and chances.
You probably used Martingale strategy to earn some easy cash, but those strategies in long term fail cause of the edge on roulette. (thats why they have zero(s))
If you had more money to afford to double your bets on every lose then you can win that edge, but its impossible.

I dont know if you have gambling problems, you know better, but get a pen and do some simple maths. Then accept it.

My 2 satoshis.

another +1 for anther person that understands what it means to gamble

[Redcoin]

If you guys really did lose like you say post your IDs and i will  post your play history

[MtRev]

Like i told u plenty of times Just because u dont Like 1 Casino Doesnt mean the Whole Coins is Bad
i Announced plenty of times that we Got loads of Games incoming this Month Including a Casino wich im 100% u would think is Fair
Just stay away From Lotwin if u Dont like it and wait for the Others Casinos

+1

I bet some of these people thinks Vegas is a scam too!

[OfWelDan]

I have a mathematical background

Having 15 times RED when you put on black .. and having that happening many cycles, THE MATHEMATICAL chance to happen in your first 100 consecutive games. If you say it is possible then PROVE IT ..

What kind of fucked mathematical background do you have if you say things like that. Chances are small for that to happen but it definitely is possible.
Even if I would be guessing wrong 15000 times in a row that would still be possible.

Then try lotwin casino and see for yourself. There is not a feeling, but a CERTAINITY that it is rigged.

no.

Sorry, but things you say just make it a CERTAINITY for me that you don't have a mathematical background

[drepteck]

I have a mathematical background

Having 15 times RED when you put on black .. and having that happening many cycles, THE MATHEMATICAL chance to happen in your first 100 consecutive games. If you say it is possible then PROVE IT ..

What kind of fucked mathematical background do you have if you say things like that. Chances are small for that to happen but it definitely is possible.
Even if I would be guessing wrong 15000 times in a row that would still be possible.

Then try lotwin casino and see for yourself. There is not a feeling, but a CERTAINITY that it is rigged.

no.

Sorry, but things you say just make it a CERTAINITY for me that you don't have a mathematical background

You want math? The probability of getting 15 reds in a row IF the casino wasn't rigged and gave a 50/50 split like it should would be 0.00030517578125% chance of happening. So for someone to have this happen to them especially after playing only 333 hands is just sketchy to say the least. The odds are that it is rigged to make you lose if the casino is short on money. These online cryptocurrency casinos aren't run by rich companies out of Vegas so they don't have the financial backing to pay out huge winners so usually on release they will force losses on new players in an attempt to create a financial buffer to use as more players start winning. In this way they are probably rigged at the start and ease off over time (or they may be rigged all time). The problem though is if the casino operators immediately takes invested cryptocurrency and dumps them on the exchange, effectively prolonging this "rigged" period, and judging by the amount of coins that are being dumped daily on cryptsy, I expect this to be the case. I highly doubt Lotwincasino is keeping everyone's money in some "bank" that it uses to support the 99% returns. It's more likely that any returns people are getting are likely their own, and once they are dry, it's dump time.

[jballs]

I have a mathematical background

Having 15 times RED when you put on black .. and having that happening many cycles, THE MATHEMATICAL chance to happen in your first 100 consecutive games. If you say it is possible then PROVE IT ..

What kind of fucked mathematical background do you have if you say things like that. Chances are small for that to happen but it definitely is possible.
Even if I would be guessing wrong 15000 times in a row that would still be possible.

Then try lotwin casino and see for yourself. There is not a feeling, but a CERTAINITY that it is rigged.

no.

Sorry, but things you say just make it a CERTAINITY for me that you don't have a mathematical background

You want math? The probability of getting 15 reds in a row IF the casino wasn't rigged and gave a 50/50 split like it should would be 0.00030517578125% chance of happening. So for someone to have this happen to them especially after playing only 333 hands is just sketchy to say the least. The odds are that it is rigged to make you lose if the casino is short on money. These online cryptocurrency casinos aren't run by rich companies out of Vegas so they don't have the financial backing to pay out huge winners so usually on release they will force losses on new players in an attempt to create a financial buffer to use as more players start winning. In this way they are probably rigged at the start and ease off over time (or they may be rigged all time). The problem though is if the casino operators immediately takes invested cryptocurrency and dumps them on the exchange, effectively prolonging this "rigged" period, and judging by the amount of coins that are being dumped daily on cryptsy, I expect this to be the case. I highly doubt Lotwincasino is keeping everyone's money in some "bank" that it uses to support the 99% returns. It's more likely that any returns people are getting are likely their own, and once they are dry, it's dump time.

The only odds you have to know to assure absolute certainty you are a loser is 18/38.

I have seen the whole tree solid black and solid red so often it got boring. Yes the odds are against, but each spin is 18/38 and so it is not uncommon. One in 700,000 outcome is common when one calculates it against all roulette wheels spinning in the universe at any given moment.

Which is too many. If you want to stop losing either stop gambling or open a casino for other suckers and you will understand how it all works much faster.

[drepteck]

We aren't talking about roulette, we are talking about a double down feature included in the slot machines. Seriously you guys aren't even trying. You are saying that 3 people all with the same very very VERY low probability of getting the same color 10+ times in a row, managed to do so in a couple of days is not rigged simply because somewhere in the universe at some point in time it happened? Give me a break. Are you guys payed shills or something? Lottocoin casino is insanely rigged, end of story. If you haven't tried it yourself, then kindly buzz off with your normal casino logic, it doesn't apply here.

We aren't talking about roulette, we are talking about a double down feature included in the slot machines. Seriously you guys aren't even trying. You are saying that 3 people all with the same very very VERY low probability of getting the same color 10+ times in a row, managed to do so in a couple of days is not rigged simply because somewhere in the universe at some point in time it happened? Give me a break. Are you guys payed shills or something?

I am saying there is no reason to run a casino unless you set the odds against your customers. Erego, if you gamble you are a sucker.

eos.

Irrelevant to the thread, highly arrogant, and contributing absolutely nothing. Yes gambling is for suckers, but being scammed out of your money is much worse.

[jballs]

We aren't talking about roulette, we are talking about a double down feature included in the slot machines. Seriously you guys aren't even trying. You are saying that 3 people all with the same very very VERY low probability of getting the same color 10+ times in a row, managed to do so in a couple of days is not rigged simply because somewhere in the universe at some point in time it happened? Give me a break. Are you guys payed shills or something?

I am saying there is no reason to run a casino unless you set the odds against your customers. Erego, if you gamble you are a sucker.

eos.

[damnation]

so this thread has degenerated into a gambler's anonymous meeting...

First of all kpg has it right.. when a casino live or online boasts of a 99% payout it doesnt mean everyone can walk away with 99% of their investment. if it did then casino's wouldn't make any money at all, this is where stories about losing ur entire fortune from gambling comes in play.

Also, its a fact that... Slot's despite being the most popular are also the most profitable (for the casino) hence the wall to wall line of slot machines in every casino..

Another issue is learning to walk away when you win.. if you do that that then you will stay in the 99%
After winning the mega-jackpot why on earth would you continue to play the same game

I actually find it hard to believe someone with a mathematical background would consider slots a winning proposition..

Please refer to this link:
http://en.wikipedia.org/wiki/Slot_machine#Payout_percentage

Slot machines are typically programmed to pay out as winnings 82% to 98% of the money that is wagered by players. This is known as the "theoretical payout percentage" or RTP, "return to player." The minimum theoretical payout percentage varies among jurisdictions and is typically established by law or regulation. For example, the minimum payout in Nevada is 75%, in New Jersey, 83%, and in Mississippi 80%. The winning patterns on slot machines – the amounts they pay and the frequencies of those payouts – are carefully selected to yield a certain fraction of the money played to the "house" (the operator of the slot machine), while returning the rest to the players during play. Suppose that a certain slot machine costs $1 per spin and has a return to player (RTP) of 95%. It can be calculated that over a sufficiently long period, such as 1,000,000 spins, that the machine will return an average of $950,000 to its players, who have inserted $1,000,000 during that time. In this (simplified) example, the slot machine is said to pay out 95%. The operator keeps the remaining $50,000. Within some EGM development organizations this concept is referred to simply as "par." "Par" also manifests itself to gamblers as promotional techniques: "Our 'Loose Slots' have a 93% payback! Play now!" It is worth noting that the "Loose Slots" actually may describe a very few anonymous machines in a particular bank of EGMs.

Anyway, a bid of 100k covers about 17 spins and 500k about 85 spins..

I remember learning about a fallacy of gambler's logic.. calling Head's or tails... no matter how many times u flip a coin..the probability does not change... just because you get 20 heads in a row doesnt mean the next just has to be tails.. because probability is still 50/50.

here's why i can tell u this is for sure.. i once tried the double-ur-bet system on the 3:1 payout at roulette starting with $1.. just to see if it worked.. it worked the first two time.. but the third attempt basically ended up killing off the profit from the two attempts plus my initial stake..i lost about $2000.. and then i stuck around to see when the damn section would have hit.. it came in about 6 spins later.. 17 spins to win a 3:1 odd which meant i would have needed about $131,000 as capital to win that bet...The only way anyone can truly be sure of beating the house odds is if one has unlimited funds to gamble with... and even then you would need to learn to walk away or the house edge will finish you. 

 

[drepteck]

For starters, yes the probably of getting heads or tails is the same, but you are talking about a single instance. Let's talk about the probably of getting heads 15 times in a row.
http://www.mathcelebrity.com/cointoss.php?hts=+HTHTHH&hct=+15&tct=+0&calc=2&fct=+0&gt=no+more+than&nmnl=+2&htpick=heads&tossct=+0&montect=+500&pl=Calculate+Probability

Like I said the probably is 0.00030517578125%. I won the Mega Jackpot on a slot that brought me from like 30,000 to 90,000 which was still under the 100,000 I put in. Then I DID move to another slot game, which is the one I'm talking about, Reel Bar or whatever it was called. The max bet was 500 coins, so with 90,000 I could spin many times. 80% of the spins yielded less than 500 coins resulting in a loss. When I would land a win of 1k or more, I would use the double or nothing and choose black, and EVERY single time I would get red. Loss after loss and then I attempted to choose red. The EXACT MOMENT I start choosing red, I get 6 blacks in a row.

This EXACT SAME SCENARIO was mentioned by TWO OTHER COMPLETELY DIFFERENT PEOPLE in the same day. Coincidence? Please. Casino logic? Yeah right. I've been to many casinos, both in vegas and on cruise ships and never seen this happen, especially to this many people in this short of a time frame. It's rigged, and by that I mean rigged 10 times more than a normal casino rigs them. It's tiring discussing then, I really don't care anymore. Play the damn game yourself to see what I am talking about, I am moving on.

[noedelx]

Well explained damnation