Ninjastic
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Board Gambling discussion
Re: BTC Gambling?
by
cjmoles
on 25/07/2017, 20:38:13 UTC
Quote from: 2double0 on July 25, 2017, 08:07:54 PM
Quote from: cjmoles on July 25, 2017, 08:04:50 PM
Quote from: pearlmen on July 25, 2017, 07:51:40 PM
Quote from: cjmoles on July 25, 2017, 07:33:42 PM
Quote from: nadiawicket on July 01, 2017, 08:28:19 AM
Low minimum BTC Gambling sites?

They all start the minimum bet size at .001 btc or .0001 btc. Im looking for a gambling website that has the lowest bet size at .0000001 or less. Low btc minimum betting sites around?. Anyone know any?

Or low minimum (.0000001 btc or less) btc Forex that accepts USA?

So far looks like primedice the only one.

Any info? Thanks!!


It's hard for online casinos to keep up with the volatility of bitcoin in order to keep their gambling site's minimum and maximums bets stable....a min bet of 25 cents, about ~year ago, is now $2.50 today, and it goes up and down on a daily basis....keeping the limits within the ranges of the site's bankroll is serious business to a gambling operation....So, we have to be patient with them.

 I don't think this should be a problem because the site is denominated in btc and not in fiat which means it does not concern them what the value of bitcon is saying on exchange sites. And if I wager 0.01btc for 1.1 then I get 0.011btc its as simple as that irrespective of the price as at that time and the same goes to those who bankroll the site.

Yes....if the site maintains a 100% liquidity in bitcoin than it may not be a problem.  But, if they don't maintain a 100% bitcoin liquidity because they've converted or hold some of their bankroll in USD, then it could be very bad if a jackpot was hit with a max bet while bitcoin's value was at a maximum, right?

Why would they convert when they are dealing in Bitcoins itself? That too knowingly when the price is getting boomed up?
I don't think so, but yeah if a JackPot is hit, they will have to pay the coins no matter what's the price of BTC is in USD.

The price of bitcoin doesn't really just go straight up.  It actually rises and falls along the way.  Many casinos operate under some money management criteria that doesn't require a 100% specific currency liquidity....they keep a certain percentage of their bankroll liquid and let their money management criteria cover the rest according to the math....kinda of like the federal reserve.