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Author Topic: RED OR BLACK - the simplest BTC game - no registration - [redblackbit.com]  (Read 715 times)
redblackbit (OP)
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April 03, 2014, 11:46:14 AM
Last edit: April 03, 2014, 02:57:06 PM by redblackbit
 #1

I would like to introduce small but smart game - RED OR BLACK. No registration, no keeping BTC at our site, just instant bets and payouts.


How does it work?
RedBlackBit is a very simple game. You bet on one color - red or black - by sending bitcoins to the address at the home page.

When does the game start and how long does it take?
The game lasts 5 minutes and starts when there is at least one bet on each color.

How much can I win?
We take 1% from a loser. The remaining amount from the losing color is divided proportionately to the money paid in on the winning side. So, a winner gets back the money they paid in and the prize, less a transaction fee of (0.0002 0.0001 BTC).

Do I get my prize instantly?
Almost. We put your bet on the board instantly but we wait for 2 confirmations before we send it back to you.

Is there a min or max amount of bitcoins I can bet?
There is a minimum. If you bet less than 0.001 it will convert into our whisky fund. There is no maximum.

Do you have an email?
Sure. Send your questions to redblackbit@redblackbit.com

Do not use online wallets or mining pools to send bitcoins. Your prize will be sent back to the address you sent the bitcoins from. In the case of a shared wallet, you will not get the prize! A blockchain wallet is OK as you have a private address there.

All transactions are visible at website so you can track whatever you want at blockchain.
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joksim299
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April 03, 2014, 01:10:00 PM
 #2

0.0002BTC Fee  Shocked
Not Provably Fair   Shocked
This is http://www.bitblackred.com/ similar off-chain service
What if we have 1mBTC bet on red and 10BTC bet on black and red win?

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April 03, 2014, 01:42:01 PM
 #3

well this is not 100% clear for me but at least sounds legit...
Smiley

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April 03, 2014, 01:59:45 PM
 #4

This is like shooting fish in a barrel
redblackbit (OP)
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April 03, 2014, 02:07:13 PM
 #5

0.0002BTC Fee  Shocked

I wanted to make it visible at blockchain and easy to bet - no account, no registration, ... Then I have to pay fees.

What if we have 1mBTC bet on red and 10BTC bet on black and red win?

It's clearly explained in FAQ.
We take 1% from a loser. The remaining amount from the losing color is divided proportionately to the money paid in on the winning side. So, a winner gets back the money they paid in and the prize, less a transaction fee of (0.0002 BTC).
So if one is the only one on red side - he takes it all... That's gambling.
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April 03, 2014, 02:21:12 PM
 #6

Usually fee is 0.0001BTC
How do you pick winning color?

redblackbit (OP)
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April 03, 2014, 02:42:01 PM
Last edit: April 03, 2014, 02:57:39 PM by redblackbit
 #7

Usually fee is 0.0001BTC
How do you pick winning color?

With many small inputs it's usually 0.0002. But maybe you are right - at the beging i can set it to 0.0001 as a promotion.
Site is made in php so I used some openssl_random_pseudo_bytes tricks.

EDIT: I have changed fee to 0.0001 BTC
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