Post
Topic
Board Gambling
Re: BetCoin.TM Bitcoin Casino | Poker | Slots | Sports | Live Dealers | And More!
by
dooglus
on 21/12/2015, 23:05:25 UTC
The bonus isn't worthless. It is to test out the provably fair system and try your luck at unlocking an enormous amount of money without having to make a single deposit. Just because something is unlikely doesn't mean it's worthless. Even a lottery ticket costs a dollar.

About 1/1000 people unlock the bonus, and about 1/10 of those do it without creating multiple accounts. That's good odds when you consider it is a free shot at winning that sum of money. As I said, there was a guy that recently did it and cashed out over 2,000 USD, so I'm not sure I agree with you on that point.

You seem to be talking about the no-deposit bonus. I wasn't. You failed to quote the post you were responding to. Here it is:

I just signed up at betcoin.tm to take a look around, and I see confusing information about various bonuses. For example, under "FIRST DEPOSIT BONUS":

Quote
if you deposit 1 BTC you will receive an additional 3.01 BTC in your account. to withdraw any winnings from this you need to bet 888x 4.01 BTC ( 1 from deposit and 3.01 from the bonus ) so in total you would need to wager 1555.88 BTC

Fair enough - I deposit 1 BTC and have to wager 1.5k to clear the bonus. But then:

Quote
If you meet the unlock requirement for your bonus, the maximum amount of your balance which becomes available is the original bonus amount.

What does that mean? Suppose I deposit 1 BTC and manage to turn it into 1000 BTC while wagering 1.5k BTC. Am I only allowed to keep 4.01 BTC of it? That seems to be what that condition is saying, and it seems very wrong. The wagering requirement is huge. After wagering 1.5k times my initial deposit I am very likely to either be bust or up a lot. It's unlikely that I'm only up a few BTC by that point. Putting a tiny cap on the amount I can withdraw in the unlikely event that I profit a lot makes this a very unattractive offer.

See, I was saying that the "first deposit bonus" is worthless, and that it is much better for the player to reject the bonus. Do you disagree?

I'm also not clear about this:

Quote
If you meet the unlock requirement for your bonus, the maximum amount of your balance which becomes available is the original bonus amount.

Suppose I deposit 1 BTC. I get 3.01 extra, for a total of 4.01 BTC. I then wager 1555.88 BTC to clear the bonus, and end up with 100 BTC in my balance. How much of my balance will you let me keep, and how much will you confiscate? Can I withdraw 3.01, because that's the bonus amount, or 4.01? What if I deposit a further 10 BTC before I have finished clearing the bonus. Then how much can I withdraw once it is clear?

AFAIK, the house edge is and has always been 1.65% for BetCoin Circle, which is our most popular game. The house advantage of Dice is 1.88%, as you said. I'm not trying to withhold information from you I am simply used to people asking about Circle, not Dice. Apologies.

So again you had misunderstood what I was talking about? I clearly said I was talking about dice. I even included screenshots of various dice games including yours.

You didn't respond to my question about how I was meant to know there's a 0.5% refund for losing dice bets.

We have 2FA.

OK, I see it now. I couldn't see it before. Is it new?

It would be useful if you could provide the secret in text form as well as QR-code form, so I can make a paper backup of it.