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Author Topic: A Gambling Project  (Read 2889 times)
100bitcoin
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February 08, 2014, 08:22:03 PM
 #1


This project failed. But not the dream. A new is shaping up here.

I am planning to build a gambling site with following features...

1. Everyone will join with a static amount of 0.01 BTC

2. Jackpot amount will rise till it reaches 1 BTC, i.e. 100 joinee
2. Jackpot amount will rise till it reaches 1 BTC, i.e. 100 Tx. Game will be open for 1 month. If we dont get 100 Tx by then, it will close with existing Tx to chose the winner.

3. Each Tx index will be added to get a number and the 2 rightmost digit will be counted to identify the winning Tx
3. Each Tx index will be added to get a number and will be divided by the number of Tx. The remainder will identify the winning Tx.

Can this idea take off ?

Update 1: I have launched the basic website. Anyone can now start participating in the game. Please check it here => www.100bit.co.in

Update 2: A suggestion was made by the community to put a time limit on the game (https://bitcointalk.org/index.php?topic=455724.40). I think it is valid and hence updated Point 2 & 3 accordingly.

Update 3: I have posted the thread here is gambling section => https://bitcointalk.org/index.php?topic=471521.0 ...Once you send your amount to the given address, you may post your Tx details in this thread.

Update 4: Good News friends. The game has began. We have got our first Tx. Please monitor: https://blockchain.info/address/1K3dhqF1hLsqThRw41KvMkFrogvgy5e6cp

Update 5: This round is over. Details: https://bitcointalk.org/index.php?topic=471521.0

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roslinpl
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February 08, 2014, 11:35:21 PM
 #2

I am planning to build a gambling site with following features...

1. Everyone will join with a static amount of 0.01 BTC

2. Jackpot amount will rise till it reaches 1 BTC, i.e. 100 joinee

3. Each Tx index will be added to get a number and the 2 rightmost digit will be counted to identify the winning Tx

Can this idea take off ?

try to implement this into some visible thing and then we can tell you more about.

I like 1 point.
Rest seems maybe ok.

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100bitcoin
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February 09, 2014, 06:47:54 AM
 #3

I am planning to build a gambling site with following features...

1. Everyone will join with a static amount of 0.01 BTC

2. Jackpot amount will rise till it reaches 1 BTC, i.e. 100 joinee

3. Each Tx index will be added to get a number and the 2 rightmost digit will be counted to identify the winning Tx

Can this idea take off ?

try to implement this into some visible thing and then we can tell you more about.

I like 1 point.
Rest seems maybe ok.


Thank u for your response. Actually I am new to this gambling business. I have no trust formed and it is expected that people will be skeptical about playing on a new site. So I am trying to understand if 0.01 BTC is OK for them to try out something new. At the same time, it is a jackpot game. So among 100 joinee, only one will win. I'm NOT sure how this fact is taken in the gambling world. Hence I am looking for community feedback before coding the site.

roslinpl
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February 09, 2014, 11:07:34 AM
 #4

I am planning to build a gambling site with following features...

1. Everyone will join with a static amount of 0.01 BTC

2. Jackpot amount will rise till it reaches 1 BTC, i.e. 100 joinee

3. Each Tx index will be added to get a number and the 2 rightmost digit will be counted to identify the winning Tx

Can this idea take off ?

try to implement this into some visible thing and then we can tell you more about.

I like 1 point.
Rest seems maybe ok.


Thank u for your response. Actually I am new to this gambling business. I have no trust formed and it is expected that people will be skeptical about playing on a new site. So I am trying to understand if 0.01 BTC is OK for them to try out something new. At the same time, it is a jackpot game. So among 100 joinee, only one will win. I'm NOT sure how this fact is taken in the gambling world. Hence I am looking for community feedback before coding the site.

It is for gambling world.

Jackpot system like 1 of 100 will get price is very nice.
Run it and I will give a try Smiley


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DeboraMeeks
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February 09, 2014, 01:15:38 PM
 #5

100 participants is a bit high. I only have 1% to win 1 btc. Maybe make it 20 people put between 0.01 and 0.05 in, winner gets 95%. House gets 5%?
100bitcoin
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February 11, 2014, 01:19:12 PM
 #6

100 participants is a bit high. I only have 1% to win 1 btc. Maybe make it 20 people put between 0.01 and 0.05 in, winner gets 95%. House gets 5%?

Thank you for sharing your opinion. I have given thought and have planned it this way...

0.01 BTC will be the unit payment. Now one can do multiple transactions to increase his chance of win and there is no limit to that, i.e. one can himself do all the 100 transactions, but then he ensures that he'll lose 5% as it'll go to the house.

Please let me know what u people think about this...

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February 11, 2014, 01:21:22 PM
 #7

100 participants is a bit high. I only have 1% to win 1 btc. Maybe make it 20 people put between 0.01 and 0.05 in, winner gets 95%. House gets 5%?

Thank you for sharing your opinion. I have given thought and have planned it this way...

0.01 BTC will be the unit payment. Now one can do multiple transactions to increase his chance of win and there is no limit to that, i.e. one can himself do all the 100 transactions, but then he ensures that he'll lose 5% as it'll go to the house.

Please let me know what u people think about this...

There should be a limit for 1 person.

In other case someone will spam your deposit system thats for sure.

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100bitcoin
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February 11, 2014, 01:33:25 PM
 #8

100 participants is a bit high. I only have 1% to win 1 btc. Maybe make it 20 people put between 0.01 and 0.05 in, winner gets 95%. House gets 5%?

Thank you for sharing your opinion. I have given thought and have planned it this way...

0.01 BTC will be the unit payment. Now one can do multiple transactions to increase his chance of win and there is no limit to that, i.e. one can himself do all the 100 transactions, but then he ensures that he'll lose 5% as it'll go to the house.

Please let me know what u people think about this...

There should be a limit for 1 person.

In other case someone will spam your deposit system thats for sure.

Can u please tell me how come one can spam the system if I dont put on a limit ?

roslinpl
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February 11, 2014, 02:03:48 PM
 #9

" e. one can himself do all the 100 transactions, but then he ensures that he'll lose 5% as it'll go to the house."

so someone with few btc can do all 100 transactions over and over.
Am I right? Smiley

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RGBKey
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February 11, 2014, 02:13:14 PM
 #10

You're going to have a very hard time getting enough people to deposit without any trust.

100bitcoin
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February 11, 2014, 02:14:43 PM
 #11

" e. one can himself do all the 100 transactions, but then he ensures that he'll lose 5% as it'll go to the house."

so someone with few btc can do all 100 transactions over and over.
Am I right? Smiley

0.01 BTC is the payment unit. Now one person is doing 100 transactions over and over. What will happen ?

He'll ensure that for every 100 transaction he is going to lose 0.05 BTC. How does he game the system ? He'll actually ensure his loss !!!

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February 11, 2014, 02:27:17 PM
 #12

You're going to have a very hard time getting enough people to deposit without any trust.

Yes. That is one big point that I have mentioned in my second post and this is what worries me the most. I am all new to this gambling business with no trust formed. So why people will trust me ? There is always a possibility that I may run out with their fund. This is the reason I am asking the community if 0.01 BTC is low enough to try a new gambling business or u want me to lower the entry cost ?

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February 12, 2014, 07:35:38 PM
 #13

5% edge? It will be way too high IMO.
Good luck with your project Smiley
100bitcoin
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February 12, 2014, 09:23:44 PM
 #14

5% edge? It will be way too high IMO.
Good luck with your project Smiley

I have not yet decided it to be 5%. Rather another member suggested it...

100 participants is a bit high. I only have 1% to win 1 btc. Maybe make it 20 people put between 0.01 and 0.05 in, winner gets 95%. House gets 5%?

Its good if u please suggest how much other houses keep in general. I am planning to start a thread in the gambling section soon and need to clear out these things beforehand.

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February 12, 2014, 09:37:08 PM
 #15

I don't completely follow you, is this some sort of a raffle or what? o.O

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February 12, 2014, 09:57:09 PM
 #16

Its good if u please suggest how much other houses keep in general. I am planning to start a thread in the gambling section soon and need to clear out these things beforehand.

Just for illustration.
Peerbet: 0%
Primedice: 1%
Justdice: 1%
Luckyb.it: <1.76%
SatoshiDice: ~1.9%
100bitcoin
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February 13, 2014, 01:56:19 PM
 #17

I don't completely follow you, is this some sort of a raffle or what? o.O

Here each player will join with 0.01 BTC. One can do multiple transactions each with 0.01 BTC. This joining will continue till the total reaches 1 BTC. Now we will add up a value taken from all the Tx to get a number. The right most 2 digits of this no. will decide the winning Tx.

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February 13, 2014, 02:39:15 PM
 #18

Its good if u please suggest how much other houses keep in general. I am planning to start a thread in the gambling section soon and need to clear out these things beforehand.

Just for illustration.
Peerbet: 0%
Primedice: 1%
Justdice: 1%
Luckyb.it: <1.76%
SatoshiDice: ~1.9%

How does peerbet operate with 0% edge ?

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February 13, 2014, 02:51:31 PM
 #19

Its good if u please suggest how much other houses keep in general. I am planning to start a thread in the gambling section soon and need to clear out these things beforehand.

Just for illustration.
Peerbet: 0%
Primedice: 1%
Justdice: 1%
Luckyb.it: <1.76%
SatoshiDice: ~1.9%

Peerbet: 0%  Huh

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February 13, 2014, 04:36:56 PM
 #20

How does peerbet operate with 0% edge ?
Peerbet: 0%  Huh

My bad, I sure make it more clearly.
The original peerbet has only 1 game (raffles), and it is 0% edge.
Later on, the site owner sold the site to bit777, and more games (with edge) were added on it.

Quote
Play Raffles, Wheel and Dice!
0% House edge on Raffles, 0.3% on PeerDice, 1% on Dice and 3.2% on Wheel!
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