Re: Investing in Bitcoin Casinos are really worth it?

Quote from: RealBitcoin on June 11, 2016, 12:44:11 AM

Quote from: WaffleMaster on June 11, 2016, 12:20:46 AM

But the casino could also go bankrupt before it sees the house edge gains.

Nope, all casinos have betsize limit.

What you say would be true if say the house bankroll were 1000 BTC and then some whale with 10,000 BTC starts gambling there he could very easily win that 1000 BTC

However most casinos have a betsize limit like 5 BTC

So then you would have to bet 2000 BTC split into 5 BTC parts, which means that with a house edge of 1%, you would have to have 400 consecutive wins of 5 BTC bets to make the casino go bankrupt.

Well given the 1% house edge and double or nothing type bets with 49.5% probability, the probability of 400 consecutive wins is:

0.00000000000000000000000000000000000000000000000000000000000000000000000000000 0000000000000000000000000000000000000000000695151674800117 %

The universe will turn faster into cheese than a casino to go bankrupt Cheesy

I`d worry about them getting hacked more.

Hm... when you put it that way with the maximum bet limit I think you're right. Very low chance of a casino going bust unless they get cheated or hacked. That does seem like the biggest risk...it happens to even large exchanges and casinos online as well as in real life so that's a decently big risk imo.