BetKing.io - 20% Rakeback Christmas Bonus - Most trusted Bitcoin Dice site

[dooglus]

Bustabit uses a pretty robust provably fair system for multiplayer games, feel free to use it if you want =)

Note that even using bustabit's method the site would still know when the jackpot was due to hit and so could arrange to win it.

Previous posters were asking how the jackpot is divided when it hits. I don't think they got a good answer.

Suppose two people are playing when the jackpot hits. One betting 0.01 BTC and the other betting 0.99 BTC. Do they get half the jackpot each? Is it split proportionally to the size of their bets? Or something else?

What if only one player is playing and their bet is tiny? Do they still get the whole jackpot amount?

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[Quickseller]

Here's the provably fair help page updated to show social dice method

https://betking.io/help/provablyfair

Social Dice

The social dice game uses the same provably fair method to calculate rolls. The difference being that there is no nonce and a new server seed is generated every round.

The client seed is initially set to a random string but once there is betting on a round the client seed will be set to the first four unique players user id's.

For example if three players with user Id's 34, 6783, 7872 were playing then the client seed used would be 3467837872.

I am no expert in provably fairness, but I am not sure this is really provably fair.

Wouldn't it be possible for the a casino operator to generate new user accounts that could make the client seed to be something that is favorable to the casino operator? For example if one whale was the first to bet, then the casino operator could have the second, third and fourth user ID's be something that would result in the whale to lose his bet. The same is true if three people place certain bets, and the fourth is placed by the casino operator.

I think some of the "social" type games have every round predetermined based on a single server/client seed, so the outcome is known to the operator well in advance, and can be verified that the roll outcome did not change from the time prior to a player placing his bet to after him placing his bet.

Hi

Yeah RHarver pointed that out just now. I never thought of that situation.
I was trying to make it fair by using multiple peoples client seeds instead of choosing one person or generating one myself (as I could favor lo rolls in that case) but yeah that means I technically could jump in as player 4.

I will change this method asap to something more like Bustabit so that it is truly fair.

Thanks for pointing that out.

Yea I had loaded this thread before he had posted that.

I do like the idea of many players betting on the outcome of a single roll though. You are missing a chat room solely for people who are playing "social dice" as the chat feature is what will make it truly social verses a bunch of numbers being displayed on each betting outcome.

[BetKing.io]

Bustabit uses a pretty robust provably fair system for multiplayer games, feel free to use it if you want =)

Note that even using bustabit's method the site would still know when the jackpot was due to hit and so could arrange to win it.

Previous posters were asking how the jackpot is divided when it hits. I don't think they got a good answer.

Suppose two people are playing when the jackpot hits. One betting 0.01 BTC and the other betting 0.99 BTC. Do they get half the jackpot each? Is it split proportionally to the size of their bets? Or something else?

What if only one player is playing and their bet is tiny? Do they still get the whole jackpot amount?

Good point. Do you know of a way to make the multiplayer aspect provably fair as well ass the jackpot?
It's something I've wondered about some other sites where it looks like they could easily just win their own jackpots.

The jackpot is split proportionally based on bet size.

I'm in middle of finishing off a help page for the game which will detail that.

[BetKing.io]

...
You are missing a chat room solely for people who are playing "social dice" as the chat feature is what will make it truly social verses a bunch of numbers being displayed on each betting outcome.

Do you mean any different to having the game and the current chat open? There's a red chat button on right side of screen that opens chat.

If you have seen that already then what benefit would there be for a dedicated chat? The current chat doesn't get much action anyway

[BetKing.io]

This help page details the jackpot payouts https://betking.io/help/socialdice

Let me know what you think and if you see anywhere it can be improved.

Social dice bets now show up on highroller tab too.

[dooglus]

Good point. Do you know of a way to make the multiplayer aspect provably fair as well ass the jackpot?
It's something I've wondered about some other sites where it looks like they could easily just win their own jackpots.

I don't know of a good way to do it, no.

The problem is that since the site can immediately know whether the jackpot has been hit or not, why wouldn't it be able to also know immediately before it happens, and therefore make sure to win at least part of it?

The jackpot is effectively a multi-player lottery game, and the only real solution I've seen to such a game is pevpot.com's. That was a weekly lottery where the seed was the hash of a particular future Bitcoin block, and the derivation function (turning the seed into a winning ticket number) took about 20 minutes to run. The 20 minute delay was intended to make it unprofitable for any miner to attempt to rig the result by withholding a mined block which made them lose (since by the time they figure out their block makes them lose it has already been orphaned).

That method is no use for a dice sice where you get more than one bet per second. You'd have to run the CPU-intensive derivation function for every roll, creating huge load on the server.

[BetKing.io]

Good point. Do you know of a way to make the multiplayer aspect provably fair as well ass the jackpot?
It's something I've wondered about some other sites where it looks like they could easily just win their own jackpots.

I don't know of a good way to do it, no.

The problem is that since the site can immediately know whether the jackpot has been hit or not, why wouldn't it be able to also know immediately before it happens, and therefore make sure to win at least part of it?

The jackpot is effectively a multi-player lottery game, and the only real solution I've seen to such a game is pevpot.com's. That was a weekly lottery where the seed was the hash of a particular future Bitcoin block, and the derivation function (turning the seed into a winning ticket number) took about 20 minutes to run. The 20 minute delay was intended to make it unprofitable for any miner to attempt to rig the result by withholding a mined block which made them lose (since by the time they figure out their block makes them lose it has already been orphaned).

That method is no use for a dice sice where you get more than one bet per second. You'd have to run the CPU-intensive derivation function for every roll, creating huge load on the server.

In that case I think the alternative of not having one is worse than providing a jackpot that is not provably fair.

The difference with the way I'm doing it is that I am adding a share of my own investment commission to the pot and not a players side bet.
It would be a lot worse to take bets from players to put in a pot then win that I think.

[RHavar]

Good point. Do you know of a way to make the multiplayer aspect provably fair as well ass the jackpot?

The most obvious solution is to give the jackpot to *everyone* who wins, that way players can't be impacted by a house player. But understandably as the house you wouldn't want to do that, but one alternative would be make the jackpot criteria slightly different for every player, that way there's negligible chance of two players winning it at the same time. Or perhaps even a user could pick their own "lucky jackpot number" (and they're the only ones who can pick that number), and if their number comes up they win ?

[wormat22]

What is your share of the jackpot based on?

A percentage of the wagered amount each Social Dice round goes towards each of the jackpots

Yes, but if someone hits the jackpot, what determines how much each player gets from the pot?

[BetKing.io]

What is your share of the jackpot based on?

A percentage of the wagered amount each Social Dice round goes towards each of the jackpots

Yes, but if someone hits the jackpot, what determines how much each player gets from the pot?

This page gives you the details of the jackpot https://betking.io/help/socialdice

[BetKing.io]

I sent dooglus a signed message from Betking cold storage addresses that he can verify and prove solvency.

[BetKing.io]

Few improvements to the social dice game.
Bets show up in my bets tab.
Reels rezise properly on smaller screens/windows.
Bets show up in high roller list.
You can post a round id in chat by doing r:roundid

Investment help page updated to show that Social Dice is investor funded.

Jackpots currently sitting at over 2 Bitcoin and 0.3 Bitcoin.

Let me know if you have any ideas you would like to see.

[coingamblingreviews]

Just to confirm the bankroll investment does that still just cover the dice games? If so is it all the dice games?

Also the site total investment at about    4649 ฿ is that current bankroll size? or where is the total current bankroll information?

Investment is at 4648 Bitcoin at the moment and that covers both "classic" dice and "social" dice as well as roulette.
Slots and blackjack are privately funded.

Ok thanks for the response.

*Edit - math's works out perfect, my mistake..

[dooglus]

I sent dooglus a signed message from Betking cold storage addresses that he can verify and prove solvency.

I received a signature for a message that said:
  'this is a betking cold storage address'

The address which was used to create the signature contains a little over 4500 BTC.

Dean tells me there's ~100 BTC in the hot wallet too.

So that's a proof of assets. For real proof of solvency we would also need to see a proof of liabilities (ie. investment amounts) to make sure that liabilities don't exceed assets. The danger is that there are 10 investors each having invested around 1000 BTC, so the total liabilities are over 10k. I'm not suggesting that this is the case, merely that it is possible if each investor doesn't have a way of making sure his coins are counted in the claimed total.

[coingamblingreviews]

I sent dooglus a signed message from Betking cold storage addresses that he can verify and prove solvency.

I received a signature for a message that said:
  'this is a betking cold storage address'

The address which was used to create the signature contains a little over 4500 BTC.

Dean tells me there's ~100 BTC in the hot wallet too.

So that's a proof of assets. For real proof of solvency we would also need to see a proof of liabilities (ie. investment amounts) to make sure that liabilities don't exceed assets. The danger is that there are 10 investors each having invested around 1000 BTC, so the total liabilities are over 10k. I'm not suggesting that this is the case, merely that it is possible if each investor doesn't have a way of making sure his coins are counted in the claimed total.

Do you ever invest in other bankrolls dooglus?

What do you look for if you do?

[BetKing.io]

I sent dooglus a signed message from Betking cold storage addresses that he can verify and prove solvency.

I received a signature for a message that said:
  'this is a betking cold storage address'

The address which was used to create the signature contains a little over 4500 BTC.

Dean tells me there's ~100 BTC in the hot wallet too.

So that's a proof of assets. For real proof of solvency we would also need to see a proof of liabilities (ie. investment amounts) to make sure that liabilities don't exceed assets. The danger is that there are 10 investors each having invested around 1000 BTC, so the total liabilities are over 10k. I'm not suggesting that this is the case, merely that it is possible if each investor doesn't have a way of making sure his coins are counted in the claimed total.

While your point is true I don't think it's really important in this case.
I only asked you to sign that just to prove the assets were still there to ease some doubt (not investor doubt) after removing from public address.
My investors are fine with the change and don't need me to constantly publish figures for amounts invested.

This is quite different from when you were running Just-Dice and had hundreds, maybe thousands? of investors all with varying amounts.
Over half the BetKing bankroll is made up of funds by 3 people and then almost the total bankroll left made up by just 7 other people.

Thanks

[BetKing.io]

User stats now updated when playing Social Dice

[BetKing.io]

Working on a new deposit and reload bonus system. We'll be making roulette private funded to make things easier for this soon.

[coingamblingreviews]

wow some big betting happening at the moment! Nice for the bankroll 

[maxhor]

It is very good experience to play on new social dice game, progressive jackpot is very attractive even i was not lucky to hit that one but playing on that, it is like to have an adventure and this nice to make fun with rolling dice with this newly added dice game.