Post
Topic
Board Gambling
Re: Insured gambling. Get a Per Cent of your Net Loss back.
by
Watoshi-Dimobuto
on 09/11/2014, 02:58:18 UTC
Yeah, I didn't mean 1 per cent. Some sites offer 30% of Net Gaming Revenue.

Satoshidice? Yes. I am testing it since i already got a request there.
Do you know how exactly it works? I mean when they will pay? Can I reset my ref income etc?

Where offers 30%?

SD was paying (and charging) after each bet, but they changed it so now they pay only at the end of each month I think.

The way it works is you get 10% of the action of all the players you refer. If they lose, you get 10% of their losses but if they win you lose 10% of their profits.

I tested it out by referring myself and winning a bet, and my main account's balance went negative by 10% of the amount the new account won.

They say they're not going to come after you for negative balances, but that they're not going to allow people to abuse the system.

I pointed out that I could make a new affiliate account for each person I refer, and just throw away all the ones that refer winning players and keep the ones with losing players. That's probably considered "abuse", but I don't know how they would be able to tell if I registered each one from a different IP address and such like. Note also that by referring yourself you can make a +EV bet: if you win, you pay 1.9% house edge and if you lose you get 10% back in your affil account. That's a +3.1% EV if you bet at 2x, and higher if you bet at higher multipliers, up to around +8.1% for the highest multipliers.

Almost all casinos offer 20 to 50% of Net Gaming Revenue. eg. Bitstars.net, SatoshiBet
FortuneJack is an exception.

Is it still possible to create multiple ref link from one account?

I tested it too. My balance shows 0.001BTC after i lost 0.01BTC. I expected it to be weekly. Monthly is a bit too long.
So, it is better to withdraw everything in the in game balance before the payout if it is negative?