bustabit.com -- The Social Gambling Game

[Lionidas]

No but, i believe the situation that happen and with the screenshots and everything showing you that i couldn't even cancel a bet and it still betted my money....never mind just please check you email.

As I've explained, I've carefully gone over the logs and the server behaved exactly as expected. While I'd love to have the margins to hand out money, bustabit operates on one of (or the?) lowest margins in the business and it simply isn't economically viable for me to refund losing bets. That is unfortunately non-negotiable and final, even if it means I get a bad review here and reddit.

Are you the owner of Bustabit?
Where are they located? It says licensed on the home page but that does not mean they are located there.
Clarify this so I can have confidence when I am placing my btc into the wallet of your site.

[Lionidas]

Are you the owner of Bustabit?

Yeah

Where are they located? It says licensed on the home page but that does not mean they are located there.
Clarify this so I can have confidence when I am placing my btc into the wallet of your site.

There's no real regulatory oversight to bustabit, but if you did have a problem and wanted to take it up through legal channels, it'd be done in Costa Rica.  I'm pretty confident you won't have any problems though, the site does a huge amount of volume (average ~2000 BTC a day?) and has remarkably few complaints (probably less than a dozen cases in the entire history of bustabit that haven't been amicably resolved). Yesterday the site paid out 300 BTC (more than it took in) without holding any withdrawals for even a second.

From what I have read so far it was Moneypot correct?
And you were the owner of that one but sold it. Am I right in this observation or was that another site?
I am trying to get a background on you who are the owner of this site. Before I put any of my bits into it.
That is all.

[steampunkz]

Wow, we have a new #1 by net profit:




Yup, that's right: LosDeXibalbaMC has won 286 BTC 

Omg that win is kinda wicked! You can retire with that kind of money right now. I' ve been playing bustabit last month, Luckily I almost won 20$ and widraw and I left some balance. But recently i'm getting busted again and again. That win is kind of motivation and inspiration for me now, If I'm going to comeback to play this gambling game again.

[fiscorcle]

No way you can retire with ~$300,000 today....maybe if you're like 70 already...

[torry28]

Wow, we have a new #1 by net profit:

-snip-

Yup, that's right: LosDeXibalbaMC has won 286 BTC 

He only lead in 1 day (Lose 11 btc yesterday) and now gohard get his position back as the number #1 by the highest net profit https://www.bustabit.com/user/gohard with 279 BTC profit

[hopenotlate]

No way you can retire with ~$300,000 today....maybe if you're like 70 already...

It depends on where you live.

[BTCevo]

No but, i believe the situation that happen and with the screenshots and everything showing you that i couldn't even cancel a bet and it still betted my money....never mind just please check you email.

As I've explained, I've carefully gone over the logs and the server behaved exactly as expected. While I'd love to have the margins to hand out money, bustabit operates on one of (or the?) lowest margins in the business and it simply isn't economically viable for me to refund losing bets. That is unfortunately non-negotiable and final, even if it means I get a bad review here and reddit.

Are you the owner of Bustabit?
Where are they located? It says licensed on the home page but that does not mean they are located there.
Clarify this so I can have confidence when I am placing my btc into the wallet of your site.

Although you have doubt in them, you can put it away just saw their big win there. See their leaderboard and you will be amaze on how much they have win. I do not say that it will guarantee you winning but it still depends on luck when you are doing gambling thing

[Lionidas]

No but, i believe the situation that happen and with the screenshots and everything showing you that i couldn't even cancel a bet and it still betted my money....never mind just please check you email.

As I've explained, I've carefully gone over the logs and the server behaved exactly as expected. While I'd love to have the margins to hand out money, bustabit operates on one of (or the?) lowest margins in the business and it simply isn't economically viable for me to refund losing bets. That is unfortunately non-negotiable and final, even if it means I get a bad review here and reddit.

Are you the owner of Bustabit?
Where are they located? It says licensed on the home page but that does not mean they are located there.
Clarify this so I can have confidence when I am placing my btc into the wallet of your site.

Although you have doubt in them, you can put it away just saw their big win there. See their leaderboard and you will be amaze on how much they have win. I do not say that it will guarantee you winning but it still depends on luck when you are doing gambling thing

Not really a doubt factor here. I didn't say anything about how much they are paying out or how much they are taking in. It is not about that.
I just want a bitcoin based gambling site that I am wanting to join in on and try to be as transparent as possible to the players who want to join there site.
Is that not something someone has the right to know when they are putting any of their money, in this case bitcoin which is worth money to them, into before they use a service or making a purchase?
If not, then you might as well be just giving him your money/bitcoin and not even bother playing. Because this is just as good as throwing your money/bitcoin away.
It is in my eyes anyways.

[RHavar]

I just want a bitcoin based gambling site that I am wanting to join in on and try to be as transparent as possible to the players who want to join there site.

For what it's worth, bustabit is one of the most transparent gambling businesses out there.  You can see bustabit.com/stats with it presented over time by some sites like thebitcoinstrip.com But unfortunately there's nothing like FDIC-insured bitcoin casino accounts

[Lionidas]

I just want a bitcoin based gambling site that I am wanting to join in on and try to be as transparent as possible to the players who want to join there site.

For what it's worth, bustabit is one of the most transparent gambling businesses out there.  You can see bustabit.com/stats with it presented over time by some sites like thebitcoinstrip.com But unfortunately there's nothing like FDIC-insured bitcoin casino accounts

Fair enough.
I see you have been asked these sort of questions before and have your answers prepared so not to disclose your site's secrets of your sites business model.
I can respect that.

[PokerFace3]

No way you can retire with ~$300,000 today....maybe if you're like 70 already...

It depends on where you live.

You have to be living in a very poor third World country to retire with $300K, I mean here where I live, I consider us either third World or a bad second World country and houses costs close to $300k if you want a good house. Definitely a lot more in USA in some places. If you live in a third World country where $300k is a whole lot of Money than I am sure you won’t be betting that on bustabit as well.

[Mike Mayor]

OMG bustabit . Ryan enjoy my money. Eh I'm not gonna play again it's too addictive and I'm the wrong person who should play I will go broke because it's too much fun. Also I watch a guy lose a lot the other day and don't want to end up like him.

Also 1% skill ? You can't prove that ? Is it probabky fair that it is 1% . What skill exactly? That's a way to advertise to get people to play and is the only problem I have with bustabit. If it was 1% skill bustabit would make no money. I think they mean 1% house edge. Who knows. Maybe there is a crash level you can pull xP

[DarkStar_]

Also 1% skill ? You can't prove that ? Is it probabky fair that it is 1% . What skill exactly? That's a way to advertise to get people to play and is the only problem I have with bustabit. If it was 1% skill bustabit would make no money. I think they mean 1% house edge. Who knows. Maybe there is a crash level you can pull xP

The bonus system allows for skilled play, and there have been +EV bots created that can beat the house edge and make a profit. Those +EV bots make a profit from other people losing more. (which is why bustabit is kinda a PvP game) Bustabit makes money from their house edge, and people being unlucky. They even have a calculator for finding the house edge depending on the multiplier.

Poker is at least 50% skill, but poker houses still make money, so I don't see why 1% skill prevents bustabit from making money.

[RHavar]

Also 1% skill ? You can't prove that ? Is it probabky fair that it is 1% . What skill exactly?  That's a way to advertise to get people to play and is the only problem I have with bustabit.

The "1% skill" part comes from ~1% of the game is bonus based. For every 100 BTC that is wagered, on average the site gives out 1% in bonuses. The bonus part is skill based in the sense you can compete with other players for it (see: bustabit.com/faq#fair)

If it was 1% skill bustabit would make no money. I think they mean 1% house edge. Who knows. Maybe there is a crash level you can pull xP

Actually the house edge is quite a bit lower than 1% (see: bustabit.com/faq#odds). The skill based part doesn't really impact the house, as it's actually a purely pvp component (players fight amongst themselves for it)

[BTCevo]

Also 1% skill ? You can't prove that ? Is it probabky fair that it is 1% . What skill exactly? That's a way to advertise to get people to play and is the only problem I have with bustabit. If it was 1% skill bustabit would make no money. I think they mean 1% house edge. Who knows. Maybe there is a crash level you can pull xP

The bonus system allows for skilled play, and there have been +EV bots created that can beat the house edge and make a profit. Those +EV bots make a profit from other people losing more. (which is why bustabit is kinda a PvP game) Bustabit makes money from their house edge, and people being unlucky. They even have a calculator for finding the house edge depending on the multiplier.

Poker is at least 50% skill, but poker houses still make money, so I don't see why 1% skill prevents bustabit from making money.

You mean by skill player? I do not think that it has anything to do with skill here, as long as you are the highest bettor and try to last long enough then you will good bonus. And btw what do you mean by calculator for this house edge? Is there any calculator there?

[RHavar]

You mean by skill player? I do not think that it has anything to do with skill here, as long as you are the highest bettor and try to last long enough then you will good bonus.

Well that's the skill part, knowing to do that. There's a bit of a metagame though, for instance if someone is aiming at 100x, i know their chance of cashing out is only ~1% so I wouldn't try cash out after them, but I'd be better off cashing out early to secure the bonuses in the games they don't cash out.

Also the bonuses are % based, so it's equally fair no matter how big of a better you are -- you don't need to be the highest bettor (although sometimes it can help beef up the bonus pool).

And btw what do you mean by calculator for this house edge? Is there any calculator there?

https://www.bustabit.com/calculator

[RHavar]

Another huge bustabit winner:



That's 201 BTC, but most impressively that's a recovery from previously -82 BTC.

[joksim299]

Another huge bustabit winner:



That's 201 BTC, but most impressively that's a recovery from previously -82 BTC.

Great! This definitely restores hope for gamblers from the bottom of graph.
He was in the BTC100 profit club and then went to -BTC81 and yesterday I checked his profile and he was up 6BTC even that was incredible result.

[papa_face]

Bankroll will make or break you (just like every other gambling game). Alexy clearly has oodles of bankroll to ride through the extreme losses.

[carlfebz2]

Another huge bustabit winner:



That's 201 BTC, but most impressively that's a recovery from previously -82 BTC.

Great! This definitely restores hope for gamblers from the bottom of graph.
He was in the BTC100 profit club and then went to -BTC81 and yesterday I checked his profile and he was up 6BTC even that was incredible result.

Up with 6 btc is still good since its $6000+ as of now which is already a good amounts of money. 82 btc lose was huge and now he able to recover to won 200 btc which is really great and you are right it restores hope but should not be taken seriously because we dont have the same luck as theirs and we dont have that much money to use on playing.