Re: BlocksRace.com | The Newest Bitcoin Game | Bet on Bitcoin Mining Outcomes
The is is a wonderful innovation, a fair system that cannot be rigged. I already love the entire platform as it is easy to navigate and the interface is fine. My only concern is knowing how the odds are fixed for the various miners. Is there is known independent body that fixes the odds or you have an internal mechanism of knowing what the odd for each miner should be? Will you list other markets in the future as a way of expanding your business? Let me get the answers to these questions first, thank you.
Thank you sir ! As couple of questions were asked regarding odds, i will try to give example and basic concepts. Everything is automaticly calculated based on past blockchain data sets. Below you can find 2 data sets of 1000 blocks that have been already mined. for data set 1 394 out of 1000 blocks have been mined Under 5 minutes have which means 39,4% probability and respectively 2.54 exact odds. However as we would like to offer more rounding odds, more familiar to the bettors - on top of it if we have rounding script which as well give house edge ( can be adjusted however for our platform is quite minimal as you can see below) In reality is a little bit more complicated. So to sum up everything is automatic and no need at this point someone to adjust them manually. And yes we plan to have more betting options/markets
| Outcomes | under5minutes | between5-10 | between10_15 | over_15_minutes | House Edge |
| Data set 1 | 394 | 243 | 160 | 203 | 1000blocks |
| Probability | 39.40% | 24.30% | 16% | 20.30% | |
| Exact Odds | 2.54 | 4.12 | 6.25 | 4.93 | |
| Round Odss | 2.5 | 4 | 6.25 | 5 | 1% |
| Data set 2 | 367 | 237 | 148 | 248 | 1000 blocks |
| Exact odds | 2.72 | 4.22 | 6.76 | 4.03 | |
| Round Odds | 2.75 | 4 | 6.5 | 4 | 1.75% |