Investing in Bitcoin Casinos: What you should know.

[micromen]

The link was really helpfull thanks   

[navaman]

Are you talking about investing or starting?

Investing in a bitcoin casino is putting money toward one, without having to be involved in operations. I don't know how someone invests in an bitcoin casino like this, do you?

Starting a bitcoin casino sounds like a great idea but also requires one to run the business...

Aren't a few of the Casino listed on what is it Haverford.

[Lorenzo]

In Las Vegas, it is referred to as theoretical loss and is what your comps are based on from a customer point of view.  One factor I would add to list of risks is the whale factor.  That is, somebody with a large bankroll will come in and take a significiant chunk of the house's capital.  This is a good article and should be read by those interested in investing.

This has certainly happened many times before. The most famous of which was Just-Dice's nakowa incident where a whale (nakowa) had a massive winning streak that destroyed investors' funds and turned the site's profits negative for weeks-months.

Why shouldn't you invest? They are largely unregulated and the owner can walk away with your money at will.

And this has happened many times too. Dice.ninja was one example. Unfortunately, after dooglus shut down Just-Dice, he began promoting Dicebitco.in which ran into a few problems and a lot of investors lost their funds. After that, he began promoting dice.ninja. Because of this, lots of people invested there too and then the site owners ran away with 2,000+ BTC. Dooglus is good guy but I wouldn't trust any site he promotes that isn't owned by him.

Very true. Unfortunately the two persons I fully trust in the bitcoin gambling industry don't want my bitcoin investment. Stunna is rich enough to support the bankroll and don't want to share his profit with us, while dooglus has decided not to deal with bitcoin directly.

That is certainly one reason why Stunna doesn't allow investments but he also said that he would rather not have the responsibility of looking after other people's money (and the stress that comes with it) as well as the fact that it can't be insured against losses, hacks, theft, etc. and there is no provably fair system to accept investments:

Stunna, why not allow people to invest?

While I have no doubt that an investment option would be wildly popular, I simply don't feel comfortable allowing it. Right now we have enough more than enough coins to insure all balances but not enough that I could safely insure all potential investments.  The amount of trust required for such an investment scheme to work is incredible, given that an operator could just play and win against his own site without anyone having the slightest clue. Bitcoin is already such an incredible investment just sitting in a wallet, I firmly believe that the majority of bitcoin company/site related investments are -EV and unsustainable.

Just-dice accepts investments and i think its somewhat safe, would someone confirm?

They recently reopened after a long break and they do accept investments now but only in the form of an altcoin called CLAMs.

Aren't a few of the Casino listed on what is it Haverford.

Havelock?

[dooglus]

https://thebitcoinstrip.com/blog/investing-in-bitcoin-casinos.html

Nice article. I hadn't seen it before.

I have a few comments:

This inset list was odd:



as far as I know neither satoshidice nor moneypot accept external investment. And you're missing bitdice, which is one of the most profitable. Also the table doesn't fit very well in the box so it's truncated on the right, as you can see in the screenshot.

Negative variance for the house means there are more winners, and positive variance means there are more losers.

I think positive and negative variance don't really mean anything. Variance is defined in terms of the square of the deviation from the mean - and so is always non-negative. I think when people talk about "negative variance" they really just mean "bad luck".

In short: Stay away from any casino which does not claim to have a cold wallet.

Just-Dice has no cold wallet. Instead we allow players to deposit just a fraction of their gambling bankroll to be used as collateral while keeping the majority of it under their own control. See "offsite investing" in the JD FAQ tab for details. Basically we are encouraging investors to "be their own cold wallet". There's no value in us holding a huge number of coins in an offline wallet when it's safer (for us and for the investors) if they just look after their own surplus coins. That even lets them keep the majority of their bankroll in BTC, USD, gold, sports cars, or any other asset class, which still having it act as if it were invested on JD.

[Lorenzo]

Just-Dice has no cold wallet. Instead we allow players to deposit just a fraction of their gambling bankroll to be used as collateral while keeping the majority of it under their own control. See "offsite investing" in the JD FAQ tab for details. Basically we are encouraging investors to "be their own cold wallet". There's no value in us holding a huge number of coins in an offline wallet when it's safer (for us and for the investors) if they just look after their own surplus coins. That even lets them keep the majority of their bankroll in BTC, USD, gold, sports cars, or any other asset class, which still having it act as if it were invested on JD.

Interesting. I didn't know that it was a recommended security practice. I have 5.5 CLAMs invested in Just-Dice (up from 4.6 a few weeks ago). I assumed that the offsite investment feature was introduced to lessen the centralization of the CLAMs currency on JD rather than existing as a replacement for the hot and cold wallet system. I remember the old JD had a cold wallet back when it used BTC.

[Astargath]

In Las Vegas, it is referred to as theoretical loss and is what your comps are based on from a customer point of view.  One factor I would add to list of risks is the whale factor.  That is, somebody with a large bankroll will come in and take a significiant chunk of the house's capital.  This is a good article and should be read by those interested in investing.

This has certainly happened many times before. The most famous of which was Just-Dice's nakowa incident where a whale (nakowa) had a massive winning streak that destroyed investors' funds and turned the site's profits negative for weeks-months.



But that can be prevented investing in casinos that have a max profit or bet like 10,20btc in just dice you can bet thousands

[waterpile]

what? prc at #2 i think bitdice is more profitable than prc..

[PocketRocketsCasino]

what? prc at #2 i think bitdice is more profitable than prc..

It's not. Pocket Rockets Casino is the most profitable Bitcoin dice site at the moment. 1479.4 profit at this time with over 2700 invested.

[ComboChris]

Why should you invest in a Bitcoin casino? Well, because gambling is an incredibly lucrative industry and Bitcoin gambling is a rapidly-growing trade. With over $1 million US dollars being wagered every single day across investor-friendly Bitcoin casinos, investors are making an average of $10,000 profit a day. That's $70,000 a week, or $3,650,000 a year. The better question is why shouldn't you invest, and yeah, there are sadly plenty of reasons not to.

https://thebitcoinstrip.com/blog/investing-in-bitcoin-casinos.html

These numbers  seem like they are VERY outdated(from a  time when just-dice was huge and BTC was triple-quadruple of todays price). Since the usual investor edge is 0.9%, even if the $1 million number would be true, that would only equal out to be 9,000$ profit a day.

[dooglus]

With over $1 million US dollars being wagered every single day across investor-friendly Bitcoin casinos, investors are making an average of $10,000 profit a day.

These numbers  seem like they are VERY outdated(from a  time when just-dice was huge and BTC was triple-quadruple of todays price). Since the usual investor edge is 0.9%, even if the $1 million number would be true, that would only equal out to be 9,000$ profit a day.

Take a look at https://thebitcoinstrip.com/leaderboard.html :

Most coins wagered over the past 30 days.

BitDice: $27,399,580
Primedice: $18,717,438
FortuneJack: $16,541,114

According to that, BitDice alone turned over almost $1m per day over the last 30 days. So I don't find it hard to believe that stat at all. Mind you whenever I look at BitDice nobody's playing at all, so maybe it's not true, idk.

[Astargath]

With over $1 million US dollars being wagered every single day across investor-friendly Bitcoin casinos, investors are making an average of $10,000 profit a day.

These numbers  seem like they are VERY outdated(from a  time when just-dice was huge and BTC was triple-quadruple of todays price). Since the usual investor edge is 0.9%, even if the $1 million number would be true, that would only equal out to be 9,000$ profit a day.

Take a look at https://thebitcoinstrip.com/leaderboard.html :

Most coins wagered over the past 30 days.

BitDice: $27,399,580
Primedice: $18,717,438
FortuneJack: $16,541,114

According to that, BitDice alone turned over almost $1m per day over the last 30 days. So I don't find it hard to believe that stat at all. Mind you whenever I look at BitDice nobody's playing at all, so maybe it's not true, idk.

holy shit 29.7 millions, but they only have 1.28 million bets? How is that possible

[Shogen]

With over $1 million US dollars being wagered every single day across investor-friendly Bitcoin casinos, investors are making an average of $10,000 profit a day.

These numbers  seem like they are VERY outdated(from a  time when just-dice was huge and BTC was triple-quadruple of todays price). Since the usual investor edge is 0.9%, even if the $1 million number would be true, that would only equal out to be 9,000$ profit a day.

Take a look at https://thebitcoinstrip.com/leaderboard.html :

Most coins wagered over the past 30 days.

BitDice: $27,399,580
Primedice: $18,717,438
FortuneJack: $16,541,114

According to that, BitDice alone turned over almost $1m per day over the last 30 days. So I don't find it hard to believe that stat at all. Mind you whenever I look at BitDice nobody's playing at all, so maybe it's not true, idk.

On the other hand, http://dicesites.com/bitdiceme shows a very different story.
According to the graphs, bitdice has just 100 btc wagered a day on average.

[Astargath]

With over $1 million US dollars being wagered every single day across investor-friendly Bitcoin casinos, investors are making an average of $10,000 profit a day.

These numbers  seem like they are VERY outdated(from a  time when just-dice was huge and BTC was triple-quadruple of todays price). Since the usual investor edge is 0.9%, even if the $1 million number would be true, that would only equal out to be 9,000$ profit a day.

Take a look at https://thebitcoinstrip.com/leaderboard.html :

Most coins wagered over the past 30 days.

BitDice: $27,399,580
Primedice: $18,717,438
FortuneJack: $16,541,114

According to that, BitDice alone turned over almost $1m per day over the last 30 days. So I don't find it hard to believe that stat at all. Mind you whenever I look at BitDice nobody's playing at all, so maybe it's not true, idk.

On the other hand, http://dicesites.com/bitdiceme shows a very different story.
According to the graphs, bitdice has just 100 btc wagered a day on average.

That would be more accurate taking in count they have really low bets overall

[JohnTravolta]

Why should you invest in a Bitcoin casino? Well, because gambling is an incredibly lucrative industry and Bitcoin gambling is a rapidly-growing trade. With over $1 million US dollars being wagered every single day across investor-friendly Bitcoin casinos, investors are making an average of $10,000 profit a day. That's $70,000 a week, or $3,650,000 a year. The better question is why shouldn't you invest, and yeah, there are sadly plenty of reasons not to.

https://thebitcoinstrip.com/blog/investing-in-bitcoin-casinos.html

is the site list on your website safe? i mean not scam at all?
i know big name site there.

[fox19891989]

dadice is a good place to invest, you guys can try to gamble or invest there, no registration, just click my signature link to play.

250 sat faucet when your balance is 0, faucet amount is increasing while your level score is increasing.

I am currently level3, I can get 750 sat every time, cool   

[oldmate]

Why should you invest in a Bitcoin casino? Well, because gambling is an incredibly lucrative industry and Bitcoin gambling is a rapidly-growing trade. With over $1 million US dollars being wagered every single day across investor-friendly Bitcoin casinos, investors are making an average of $10,000 profit a day. That's $70,000 a week, or $3,650,000 a year. The better question is why shouldn't you invest, and yeah, there are sadly plenty of reasons not to.

https://thebitcoinstrip.com/blog/investing-in-bitcoin-casinos.html

is the site list on your website safe? i mean not scam at all?
i know big name site there.

We don't vouch for any of the casinos. We have no affiliation with any casino, other than the fact that I (the site owner) have almost 500 BTC invested in Diggit.io.

[pecintapantai]

Why should you invest in a Bitcoin casino? Well, because gambling is an incredibly lucrative industry and Bitcoin gambling is a rapidly-growing trade. With over $1 million US dollars being wagered every single day across investor-friendly Bitcoin casinos, investors are making an average of $10,000 profit a day. That's $70,000 a week, or $3,650,000 a year. The better question is why shouldn't you invest, and yeah, there are sadly plenty of reasons not to.

https://thebitcoinstrip.com/blog/investing-in-bitcoin-casinos.html

is the site list on your website safe? i mean not scam at all?
i know big name site there.

We don't vouch for any of the casinos. We have no affiliation with any casino, other than the fact that I (the site owner) have almost 500 BTC invested in Diggit.io.

omg you invested 500 btc in diggit.io? how much your first capital funds? or 500 btc is first capital funds?

[Coef]

dadice is a good place to invest, you guys can try to gamble or invest there, no registration, just click my signature link to play.

250 sat faucet when your balance is 0, faucet amount is increasing while your level score is increasing.

I am currently level3, I can get 750 sat every time, cool   

I have played on it and the experience is pretty good, but to be honest the site is just too new for me to comfortably invest in it.

[oldmate]

The link was really helpfull thanks   

Thanks mate

[coinvest]

Thanks for the link. Casinos will be more open to cryptocurrencies. Fast and anonymous transactions this is it what they want to attract more players.