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Author Topic: bustabit.com -- The Social Gambling Game  (Read 292450 times)
Tlee88
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March 24, 2015, 05:37:24 PM
 #1601

but , I have never seen game crash below 1.01 in 3 rounds continuous , so I think it will safe

That's not really intelligent thinking.  Crashing 3x @ 0x or 1x has a likelihood of happening of ~.00077% of the time (I believe).  Or once every 130,000 times.  So, on average, 129,999 times you'll win 1 or 0 and 1 time you'll lose 1,010,100.  Doesn't seem like a good gamble.

And realistically, does it make sense to bet 1,000,000 in order to win 1?  On anything?
yes, if it happens, I truly unlucky man

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CryForMeSky
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March 24, 2015, 06:22:35 PM
 #1602

but , I have never seen game crash below 1.01 in 3 rounds continuous , so I think it will safe

That's not really intelligent thinking.  Crashing 3x @ 0x or 1x has a likelihood of happening of ~.00077% of the time (I believe).  Or once every 130,000 times.  So, on average, 129,999 times you'll win 1 or 0 and 1 time you'll lose 1,010,100.  Doesn't seem like a good gamble.

And realistically, does it make sense to bet 1,000,000 in order to win 1?  On anything?

doesnt make any sense at all, I will actually bet 1 btc on the first and make 1.01 chance and get 0.01, withdraw it safely and cash it to money, repeat it the next day for a month  Roll Eyes Roll Eyes

That would be 1,000,000 to win 10,000 (which is still a pretty dumb approach if .01BTC means enough to you go go through the hassle of selling it every day).  I said 1,000,000 to win 1.  Or .000001BTC
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March 24, 2015, 06:23:41 PM
 #1603

but , I have never seen game crash below 1.01 in 3 rounds continuous , so I think it will safe

That's not really intelligent thinking.  Crashing 3x @ 0x or 1x has a likelihood of happening of ~.00077% of the time (I believe).  Or once every 130,000 times.  So, on average, 129,999 times you'll win 1 or 0 and 1 time you'll lose 1,010,100.  Doesn't seem like a good gamble.

And realistically, does it make sense to bet 1,000,000 in order to win 1?  On anything?
yes, if it happens, I truly unlucky man

If you try it for one roll and lose, then yes that's super unlucky.  If you leave it running day and night you WILL lose everything you have. 
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March 24, 2015, 09:12:02 PM
 #1604

but , I have never seen game crash below 1.01 in 3 rounds continuous , so I think it will safe

That's not really intelligent thinking.  Crashing 3x @ 0x or 1x has a likelihood of happening of ~.00077% of the time (I believe).  Or once every 130,000 times.  So, on average, 129,999 times you'll win 1 or 0 and 1 time you'll lose 1,010,100.  Doesn't seem like a good gamble.

And realistically, does it make sense to bet 1,000,000 in order to win 1?  On anything?
yes, if it happens, I truly unlucky man

If you try it for one roll and lose, then yes that's super unlucky.  If you leave it running day and night you WILL lose everything you have

This is the point many gamblers fail to realize before it is too late.
They only know the chance to lose X bets in a row is very low, but don't understand that the chance will go higher and higher as the number of bets increases.

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March 24, 2015, 10:44:08 PM
 #1605

Gambling is all about luck. if you have bad time no strategy doesn't work at all even you can lose at 1.01X. Moneypot brought to so many players good amount . I love this site from the day one as I am not in loss yet.
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March 25, 2015, 12:27:57 AM
 #1606


 Exactly , you can have any strategy and by all means the 'best' strategy is subjective but even if you find the 'best' one , you can't win against house edge in the long term.
anshar
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March 25, 2015, 12:36:20 AM
 #1607


 Exactly , you can have any strategy and by all means the 'best' strategy is subjective but even if you find the 'best' one , you can't win against house edge in the long term.

Actually, MoneyPot is special. Really special. No other site has the type of bonus like on Moneypot. I've seen bonus multipliers of up to + 0.08x your bet. Meaning, if you include the house edge, you could have a +7% house edge. But that is based on luck. If you notice how a different high roller is playing, try and grab the bonuses, and maybe you'll win yourself some good money!
Tlee88
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March 25, 2015, 03:42:00 AM
 #1608


 Exactly , you can have any strategy and by all means the 'best' strategy is subjective but even if you find the 'best' one , you can't win against house edge in the long term.

Actually, MoneyPot is special. Really special. No other site has the type of bonus like on Moneypot. I've seen bonus multipliers of up to + 0.08x your bet. Meaning, if you include the house edge, you could have a +7% house edge. But that is based on luck. If you notice how a different high roller is playing, try and grab the bonuses, and maybe you'll win yourself some good money!
+7% house edge just happens when your bet amount is tiny , if your bet amount is bigger , you only get <+2% bonus ( often is 1%)

CryForMeSky
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March 25, 2015, 03:47:06 AM
 #1609

+7% house edge just happens when your bet amount is tiny , if your bet amount is bigger , you only get <+2% bonus ( often is 1%)

Wrong.  The size of the bonus is based on the % that the highest bettor would receive were he the closest to cash out to the crash.  So betting smaller doesn't increase your bonus, it decreases it.
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March 25, 2015, 04:22:26 AM
 #1610

The median crash point is 1.97x.

How is this possible? If the median (close to average) crash point is almost doubling your bet, how would they be in profit. The average payout should be 0.98x to have a 2% house edge. Am I missing something?

Here's what you are missing:

If the crash-point is lower than you ask for, you get nothing back.

Saying "the median crash point is 1.97x" is equivalent to saying "the crash point reaches at least 1.97x 50% of the time", which in turn is nearly equivalent to "if you play at 1.97x, you have a 50% chance of winning 1.97x, and a 50% chance of losing".

That corresponds to a payout of 1.97 * 50 = 98.5%, or a house edge of 1.5%.

That's how the math works, but I think at moneypot the house edge is actually lower than that. The 'nearly' in the above is responsible for the difference. Moneypot crash points are only shown to 2 decimal places, and the crash point reaches 1.97x a little more than 50% of the time, but reaches 1.98x less than 50% of the time.

tl;dr: think of the "median" crash point as being like the payout for a 50% bet on a regular dice site.

Just-Dice                 ██             
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   1% House Edge
Inquisitorem
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March 26, 2015, 04:42:24 AM
 #1611


 I think we should add the bonus points to that equation so that we can get the real median. Yes it is 1.97 but with the bonus how much is it? That might help it reach %1 with 1.99. Not sure the median bonus rate though.
Tlee88
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March 26, 2015, 04:59:21 AM
 #1612


 I think we should add the bonus points to that equation so that we can get the real median. Yes it is 1.97 but with the bonus how much is it? That might help it reach %1 with 1.99. Not sure the median bonus rate though.
maybe it help you to understand about bonus :

The bonus is a special prize that is awarded to the last people to cash out before the game crashes. Getting the bonus is critical to skillful playing of MoneyPot, as it is the only way to overcome house odds.
1% of each player's stake goes into the bonus pot. So if there are 4 players, betting 400, 300, 200, and 100, there will be 10 bits in the pot. If the biggest player wins, he gets the whole pot. The site works out the rate he would be getting if he won, ie. 400 bits bet gives 10 bits bonus - or 1/40th bonus per bit bet. It then applies the same rate to whoever actually wins.
So if the 100 bit player wins, he gets 1/40th of 100, or 2.5 bits. That leaves 7.5 bits in the pot, which goes to the next best placing player(s).
Suppose the 200 bit player comes 2nd. He is due 1/40th of 200, or 5 bits. There are still 7.5 bits in the pot, so he gets the full 5 bits he is due - the same as if he had come in 1st place.
Suppose the 300 bit player comes 3rd. He's due 7.5 bits (300/40) but there are only 2.5 bits left in the pot, so he gets those and that's all. There's nothing left for the 4th or worse place players.
1% of games will instant crash (0x) and no bonuses will be awarded, all other games have bonuses equal to 1% of the amount wagered.

Mist
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March 26, 2015, 06:45:26 PM
 #1613

The site is currently not running games at the moment, Ryan will be on shortly to fix. Sorry for the delay everyone!
RHavar
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March 26, 2015, 08:03:09 PM
 #1614

Yeah =/ Sorry about that. Such terrible timing, have unreliable internet at the moment.

Working on an experimental fix, but in the mean time have put the site into maintenance mode. If I can't get the game fully functional today, I'll put the website online so everyone has access to their funds. =)
Mist
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March 26, 2015, 08:11:14 PM
 #1615

Yeah =/ Sorry about that. Such terrible timing, have unreliable internet at the moment.

Working on an experimental fix, but in the mean time have put the site into maintenance mode. If I can't get the game fully functional today, I'll put the website online so everyone has access to their funds. =)
What am I supposed to do for several hours. FFS Ryan you inconsiderate fuck Tongue
RHavar
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March 26, 2015, 08:50:52 PM
 #1616

Back online, hopefully this works!
Mist
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:)


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March 26, 2015, 08:53:10 PM
 #1617

Thank you for reviving my life, I was bored.
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March 26, 2015, 09:04:51 PM
 #1618

Yeah =/ Sorry about that. Such terrible timing, have unreliable internet at the moment.

Working on an experimental fix, but in the mean time have put the site into maintenance mode. If I can't get the game fully functional today, I'll put the website online so everyone has access to their funds. =)
What am I supposed to do for several hours. FFS Ryan you inconsiderate fuck Tongue

Rofl - Life & Times of mini-hedge-fund kids Grin


Thank you for reviving my life, I was bored.

;3 =/

Invest in the future ; Doesn't have to be Bitcoin.
RHavar
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March 26, 2015, 09:16:45 PM
 #1619

In the interest of transparency, this seemed to alleviate our problems:

https://github.com/moneypot/webserver/commit/0a8c1e17eab4d868610563cd00cccccc1958696a
https://github.com/moneypot/depositer/commit/36eafb0ac8a628e3c094349934059df23a937113


although, I'm still not sure what caused the sudden issue.

Mist
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March 26, 2015, 09:22:13 PM
 #1620

In the interest of transparency, this seemed to alleviate our problems:

https://github.com/moneypot/webserver/commit/0a8c1e17eab4d868610563cd00cccccc1958696a
https://github.com/moneypot/depositer/commit/36eafb0ac8a628e3c094349934059df23a937113


although, I'm still not sure what caused the sudden issue.



As long as it doesnt happen again, its all good.
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