SocialBet.io :: Know how are we going to monetize a casino with TRUE ODDS

[slaman29]

When I saw 0% house edge I immediately thought surely there is a commission or fee taken on everything but hey, it doesn't seem to say so on the site, or can someone show me I'm blind and point it out?

It's not the first time someone has tried this, by the way, for all you "gambler" posters who claim this is the first time you've ever seen it. Google 0% house edge and see what I mean.

OP the burning question you haven't answered is "Why on earth KYC"?

[socialbet]

https://i.imgur.com/nYzr2q3.jpg

How can people win that much bitcoin on that site? How much they use the money so they can be able to win that big amount of bitcoin?
It makes me a shock to see that amount. Is that so easy to win a big amount?

After all, the site was easy to load, and it doesn't take a long time to open a full page.

Look suspicious that's a huge amount to win but it look like a testnet for the site? I will review this gambling site by the way is there any free coins to test your site? You have a 0% house edge compare to other gambling site I hope it that true.

Yes, we are in beta and still testing the platform. Anyone who registers gets fake money to test our game. Also, we use bots to test performance and that huge wins belong to them

[Gozie51]

OP the burning question you haven't answered is "Why on earth KYC"?

Yes this is important for OP to clear. I also don't know the reason for that and it is going to make gambling difficult for gamblers.

Anyone who registers gets fake money to test our game.

That's cool, I guess the fake money seem like demo gambling ?

Also, we use bots to test performance and that huge wins belong to them

Are you talking about the fake money or real money because you saying huge money belong to them  

Meanwhile, I hope the bots are reliable too...

[coinplus]

So wait a minute, you are going to make a zero house edge casino and you are going to hope that donations will keep it alive? How does that work ? I mean zero house edge means you could totally lose millions of dollars with a lucky streak from a whale (depending on the max bet), are you going to just cover that with donations ? You think you will get that much donations ?

Zero house edge never worked in the casino space ever before and there is a reason for that, casinos are not making the house edge 1% (or lower/higher) just for profits, they are doing it to make sure they don't bankrupt. There are casinos with positive house edge that lost money because of lucky rolls from gamblers, thinking you can find a way out of it is just a silly dream that would not work with just donations.

[socialbet]

So wait a minute, you are going to make a zero house edge casino and you are going to hope that donations will keep it alive? How does that work ? I mean zero house edge means you could totally lose millions of dollars with a lucky streak from a whale (depending on the max bet), are you going to just cover that with donations ? You think you will get that much donations ?

Zero house edge never worked in the casino space ever before and there is a reason for that, casinos are not making the house edge 1% (or lower/higher) just for profits, they are doing it to make sure they don't bankrupt. There are casinos with positive house edge that lost money because of lucky rolls from gamblers, thinking you can find a way out of it is just a silly dream that would not work with just donations.

You are right in case if we have been a classic casino. But we aren't. Think about us as an ANTI-CASINO. We are not a house, we are a platform where gamblers meet gamblers. We do not need donations to cover the bank. We need them to push the project, create new games and add awesome features.

[AhmadM]

I have visited your site several hours ago and from my honest opinion, the site has good UI. I just curious about the game so I decided to register an account there, then I got 1 BTC (fake amount) for test the game.

It was my games history and I was tried all of time-based games on there. I don't have any problem with the game but at the moment I believe almost 99,9% of players are bots (for game testing) maybe only me who is the human just now lol 

[socialbet]

I have visited your site several hours ago and from my honest opinion, the site has good UI. I just curious about the game so I decided to register an account there, then I got 1 BTC (fake amount) for test the game.

https://i.postimg.cc/nht3cKKf/IMG-20190312-001814.jpg

It was my games history and I was tried all of time-based games on there. I don't have any problem with the game but at the moment I believe almost 99,9% of players are bots (for game testing) maybe only me who is the human just now lol 

Thank you for testing 

[Caladonian]

How can people win that much bitcoin on that site? How much they use the money so they can be able to win that big amount of bitcoin?
It makes me a shock to see that amount. Is that so easy to win a big amount?

After all, the site was easy to load, and it doesn't take a long time to open a full page.

Look suspicious that's a huge amount to win but it look like a testnet for the site? I will review this gambling site by the way is there any free coins to test your site? You have a 0% house edge compare to other gambling site I hope it that true.

Yes, we are in beta and still testing the platform. Anyone who registers gets fake money to test our game. Also, we use bots to test performance and that huge wins belong to them

Good for testing your site, the fake money will allow players to navigate and enjoy all the games that you have offer, it's better to inform
the community about this testing ground, I visited your site and checked the terms and condition, in my understanding users needs to
prove he's already in a legal age, meaning to say you will going to ask proof such ID's ?

Waiting for some clarifications about KYC procedure.

[AmoreJaz]

So wait a minute, you are going to make a zero house edge casino and you are going to hope that donations will keep it alive? How does that work ? I mean zero house edge means you could totally lose millions of dollars with a lucky streak from a whale (depending on the max bet), are you going to just cover that with donations ? You think you will get that much donations ?

Zero house edge never worked in the casino space ever before and there is a reason for that, casinos are not making the house edge 1% (or lower/higher) just for profits, they are doing it to make sure they don't bankrupt. There are casinos with positive house edge that lost money because of lucky rolls from gamblers, thinking you can find a way out of it is just a silly dream that would not work with just donations.

You are right in case if we have been a classic casino. But we aren't. Think about us as an ANTI-CASINO. We are not a house, we are a platform where gamblers meet gamblers. We do not need donations to cover the bank. We need them to push the project, create new games and add awesome features.

in time, we will know if this approach will be sustainable to this platform?
do you have contingent plans in case it will not make so much noise in the gambling community here?
understandably at first, you can get players but in the long-term scenario people always look for the better. they will jump from one platform to another. aside from boasting the 0% house edge, any other aspect that you are looking at that will help you survive in this industry?

[socialbet]

Thank you for your question about KYC. I have got an answer from the legal team.

KYC is a legal necessity in case of gambling, although in cases of transactions with a small amount it may be escaped.
Anyway, in some cases (e.g. small amount of transaction), KYC may be required by SocialBet.
We are going to be fully in compliance with the laws which is the best guarantee of the sound and safe operation of our platform.
By the way, Primedice.com also has KYC procedure for its users.
https://ibb.co/mCht0th

Your feedback did help We are currently updating our terms of use. Moreover, we are going to make KYC as simple as possible.

[socialbet]

So wait a minute, you are going to make a zero house edge casino and you are going to hope that donations will keep it alive? How does that work ? I mean zero house edge means you could totally lose millions of dollars with a lucky streak from a whale (depending on the max bet), are you going to just cover that with donations ? You think you will get that much donations ?

Zero house edge never worked in the casino space ever before and there is a reason for that, casinos are not making the house edge 1% (or lower/higher) just for profits, they are doing it to make sure they don't bankrupt. There are casinos with positive house edge that lost money because of lucky rolls from gamblers, thinking you can find a way out of it is just a silly dream that would not work with just donations.

You are right in case if we have been a classic casino. But we aren't. Think about us as an ANTI-CASINO. We are not a house, we are a platform where gamblers meet gamblers. We do not need donations to cover the bank. We need them to push the project, create new games and add awesome features.

in time, we will know if this approach will be sustainable to this platform?
do you have contingent plans in case it will not make so much noise in the gambling community here?
understandably at first, you can get players but in the long-term scenario people always look for the better. they will jump from one platform to another. aside from boasting the 0% house edge, any other aspect that you are looking at that will help you survive in this industry?

Big things have small beginnings We have a great team, long-term plans, and ambitious ideas. We are going to deliver innovative games with smart contracts.

[omonuyak]

How can people win that much bitcoin on that site? How much they use the money so they can be able to win that big amount of bitcoin?
It makes me a shock to see that amount. Is that so easy to win a big amount?

After all, the site was easy to load, and it doesn't take a long time to open a full page.

Look suspicious that's a huge amount to win but it look like a testnet for the site? I will review this gambling site by the way is there any free coins to test your site? You have a 0% house edge compare to other gambling site I hope it that true.

we are waiting to  hear what is your finding about this gambling site after your reviewing.  I hope it will be positive as I like those huge amount of bitcoin in winning.

[AmoreJaz]

So wait a minute, you are going to make a zero house edge casino and you are going to hope that donations will keep it alive? How does that work ? I mean zero house edge means you could totally lose millions of dollars with a lucky streak from a whale (depending on the max bet), are you going to just cover that with donations ? You think you will get that much donations ?

Zero house edge never worked in the casino space ever before and there is a reason for that, casinos are not making the house edge 1% (or lower/higher) just for profits, they are doing it to make sure they don't bankrupt. There are casinos with positive house edge that lost money because of lucky rolls from gamblers, thinking you can find a way out of it is just a silly dream that would not work with just donations.

You are right in case if we have been a classic casino. But we aren't. Think about us as an ANTI-CASINO. We are not a house, we are a platform where gamblers meet gamblers. We do not need donations to cover the bank. We need them to push the project, create new games and add awesome features.

in time, we will know if this approach will be sustainable to this platform?
do you have contingent plans in case it will not make so much noise in the gambling community here?
understandably at first, you can get players but in the long-term scenario people always look for the better. they will jump from one platform to another. aside from boasting the 0% house edge, any other aspect that you are looking at that will help you survive in this industry?

Big things have small beginnings We have a great team, long-term plans, and ambitious ideas. We are going to deliver innovative games with smart contracts.

very positive approach i would say!
so lets start the party!!! lol

and since you got attention from the community because of this 0% house edge promo thing, you need to make sure that your kyc thing will not be an obstacle for them to get on board. as you promised, make it simple as possible so i dont know how simple that would be??

[milewilda]

So wait a minute, you are going to make a zero house edge casino and you are going to hope that donations will keep it alive? How does that work ? I mean zero house edge means you could totally lose millions of dollars with a lucky streak from a whale (depending on the max bet), are you going to just cover that with donations ? You think you will get that much donations ?

Zero house edge never worked in the casino space ever before and there is a reason for that, casinos are not making the house edge 1% (or lower/higher) just for profits, they are doing it to make sure they don't bankrupt. There are casinos with positive house edge that lost money because of lucky rolls from gamblers, thinking you can find a way out of it is just a silly dream that would not work with just donations.

You are right in case if we have been a classic casino. But we aren't. Think about us as an ANTI-CASINO. We are not a house, we are a platform where gamblers meet gamblers. We do not need donations to cover the bank. We need them to push the project, create new games and add awesome features.

in time, we will know if this approach will be sustainable to this platform?
do you have contingent plans in case it will not make so much noise in the gambling community here?
understandably at first, you can get players but in the long-term scenario people always look for the better. they will jump from one platform to another. aside from boasting the 0% house edge, any other aspect that you are looking at that will help you survive in this industry?

Big things have small beginnings We have a great team, long-term plans, and ambitious ideas. We are going to deliver innovative games with smart contracts.

very positive approach i would say!
so lets start the party!!! lol

and since you got attention from the community because of this 0% house edge promo thing, you need to make sure that your kyc thing will not be an obstacle for them to get on board. as you promised, make it simple as possible so i dont know how simple that would be??

0% House edge is really attractive but OP didnt answer on how they would profit out on such manner? Its impossible and i cant think of things on how they monetized on such thing yet
gambling site is a business and would really need to make profits (maintenance, staffs,bankroll add-up).

When i do read up about KYC required then it already give me the feels of losing interest and most gamblers would feel the same.

[panjul07]

So wait a minute, you are going to make a zero house edge casino and you are going to hope that donations will keep it alive? How does that work ? I mean zero house edge means you could totally lose millions of dollars with a lucky streak from a whale (depending on the max bet), are you going to just cover that with donations ? You think you will get that much donations ?

Zero house edge never worked in the casino space ever before and there is a reason for that, casinos are not making the house edge 1% (or lower/higher) just for profits, they are doing it to make sure they don't bankrupt. There are casinos with positive house edge that lost money because of lucky rolls from gamblers, thinking you can find a way out of it is just a silly dream that would not work with just donations.

It seems that you did not visit the site before comment, this site is offering a lottery type game where players gamble against other players.
Indeed no matter it is pvp based game or usual game vs the house, the casino should have a house edge or at least fees from the games. Waiting for donations from the players wont work for long time. I'm sure it wont survive this way.

[socialbet]

So wait a minute, you are going to make a zero house edge casino and you are going to hope that donations will keep it alive? How does that work ? I mean zero house edge means you could totally lose millions of dollars with a lucky streak from a whale (depending on the max bet), are you going to just cover that with donations ? You think you will get that much donations ?

Zero house edge never worked in the casino space ever before and there is a reason for that, casinos are not making the house edge 1% (or lower/higher) just for profits, they are doing it to make sure they don't bankrupt. There are casinos with positive house edge that lost money because of lucky rolls from gamblers, thinking you can find a way out of it is just a silly dream that would not work with just donations.

You are right in case if we have been a classic casino. But we aren't. Think about us as an ANTI-CASINO. We are not a house, we are a platform where gamblers meet gamblers. We do not need donations to cover the bank. We need them to push the project, create new games and add awesome features.

in time, we will know if this approach will be sustainable to this platform?
do you have contingent plans in case it will not make so much noise in the gambling community here?
understandably at first, you can get players but in the long-term scenario people always look for the better. they will jump from one platform to another. aside from boasting the 0% house edge, any other aspect that you are looking at that will help you survive in this industry?

Big things have small beginnings We have a great team, long-term plans, and ambitious ideas. We are going to deliver innovative games with smart contracts.

very positive approach i would say!
so lets start the party!!! lol

and since you got attention from the community because of this 0% house edge promo thing, you need to make sure that your kyc thing will not be an obstacle for them to get on board. as you promised, make it simple as possible so i dont know how simple that would be??

Thank you very much! The house edge removal is not a promo. It is our mission! Everyday we are working hard to make our platform better.
KYC is an important thing to keep us legal. After feedback from the community, we made research again and found that most of the successful bitcoin gamblings do have KYC.

[Haunebu]

Thank you for your question about KYC. I have got an answer from the legal team.

KYC is a legal necessity in case of gambling, although in cases of transactions with a small amount it may be escaped.
Anyway, in some cases (e.g. small amount of transaction), KYC may be required by SocialBet.
We are going to be fully in compliance with the laws which is the best guarantee of the sound and safe operation of our platform.
By the way, Primedice.com also has KYC procedure for its users.
https://ibb.co/mCht0th

Your feedback did help We are currently updating our terms of use. Moreover, we are going to make KYC as simple as possible.

You are missing the point completely. Making the KYC process simple does not matter since doing away with it is the only way that majority of the gamblers including me would show any sort of interest in your website.

Get rid of the KYC requirement asap if you want your website to attract more attention.

[beardybear]

Thank you for your question about KYC. I have got an answer from the legal team.

KYC is a legal necessity in case of gambling, although in cases of transactions with a small amount it may be escaped.
Anyway, in some cases (e.g. small amount of transaction), KYC may be required by SocialBet.
We are going to be fully in compliance with the laws which is the best guarantee of the sound and safe operation of our platform.
By the way, Primedice.com also has KYC procedure for its users.
https://ibb.co/mCht0th

Your feedback did help We are currently updating our terms of use. Moreover, we are going to make KYC as simple as possible.

You are missing the point completely. Making the KYC process simple does not matter since doing away with it is the only way that majority of the gamblers including me would show any sort of interest in your website.

Get rid of the KYC requirement asap if you want your website to attract more attention.

Hello. I am the founder of SocialBet. This KYC did a noise in the last days
I want to understand the problem. I see that people ask to remove KYC and says that they won't play in bitcoin casino that has KYC, but at the same time, they use signatures of casinos that have KYC. For example, I may see in your signature STAKE.com. Check their terms and you'll find the same KYC in the 6th point.
https://stake.com/terms-of-service

The KYC is not so scary thing We do not want to use it against the community. We won't force our players to verify their identity. This point is just to keep us legal and to avoid problems in future.
We want to make our platform the best one. Your feedback is very important as we build our platform for you!
If you know a good standing casino, that does not have a KYC option in their legal docs, please send a link. We will investigate.

[steampunkz]

I visited the site, Why do I see the winners are all bot in the leaderboard section? Are the prices real?, I see there is free 1 btc to play? COOL! The sites are played by bots?

[bering]

Hello. I am the founder of SocialBet. This KYC did a noise in the last days
I want to understand the problem. I see that people ask to remove KYC and says that they won't play in bitcoin casino that has KYC, but at the same time, they use signatures of casinos that have KYC. For example, I may see in your signature STAKE.com. Check their terms and you'll find the same KYC in the 6th point.
https://stake.com/terms-of-service

The KYC is not so scary thing We do not want to use it against the community. We won't force our players to verify their identity. This point is just to keep us legal and to avoid problems in future.
We want to make our platform the best one. Your feedback is very important as we build our platform for you!
If you know a good standing casino, that does not have a KYC option in their legal docs, please send a link. We will investigate.

KYC could be very sensitive for some people because during gamble they want their identity still hide and it's more comfortable to them to gamble anonymous and i'm not try to defend stake.com but during my experience when playing at there as far i know stake.com allowed withdraw players money without using KYC but indeed they deserve asking KYC only for particular case