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Showing 9 of 9 results by Genji
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Topic
Board Gambling discussion
Re: Should I invest in bitcoin casinos?
by
Genji
on 15/06/2016, 22:37:28 UTC
Putting money in casinos is not really investing, but gambling. And gambling usually involves a total dependence on luck; a real investment would need to offer you some guarantees or realistic possibilities to increase your capital based on your own decisions, but this is not the case with casinos.

There is actually a certain guarantee to get profit in the long run while investing in a dice site with a house edge greater than 0%. While it's true there's a great risk it still has positive EV for the investor.
No, because 1. Most sites has costs. It´s not enough for the site to have edge, it needs to be higher than the costs. 2. The site need trafic to make a profit. 3. How do you make sure it´s not a scam? 4. You didn´t mention the price the investor is paying.

Far from all casino investments has positive EV for the investor.


What costs are you referring to? The sites I am familiar with (BitDice and BetKing) certainly do make investing +EV. The fee taken for upkeep etc. is not greater than 50% of the house edge, which would still make it +EV for investors. Could you point me to one site where the costs would make investing -EV? I am quite sure one doesn't exist unless it's some site nobody has heard about or would even consider investing in.

EDIT:
As an example BitDice takes 20% of the house edge and rest of this goes to the investors. Which means it is +EV.

At BetKing the house takes 0.25% from every bet and after each week 25% will be deducted from invest earnings. So if your investment makes a loss, no additional fees will be taken but if you profit, 25% of that will be taken. Even this doesn't make investing -EV.
Post
Topic
Board Gambling discussion
Re: Should I invest in bitcoin casinos?
by
Genji
on 15/06/2016, 20:54:19 UTC
Putting money in casinos is not really investing, but gambling. And gambling usually involves a total dependence on luck; a real investment would need to offer you some guarantees or realistic possibilities to increase your capital based on your own decisions, but this is not the case with casinos.

There is actually a certain guarantee to get profit in the long run while investing in a dice site with a house edge greater than 0%. While it's true there's a great risk it still has positive EV for the investor.
Post
Topic
Board Gambling
Re: Fortunejack has the worse customer service
by
Genji
on 14/06/2016, 20:37:34 UTC
If you scroll to bottom of their platform it states "Best online customer Support"! Tongue

What a joke.
Post
Topic
Board Gambling
Re: Fortunejack has the worse customer service
by
Genji
on 14/06/2016, 17:53:20 UTC
How about give up with sites that don't deserve their players. There's plenty of sites that actually appreciate their players and try to give them the best possible experience... Bitdice abd Bitsler for example.
Post
Topic
Board Gambling discussion
Re: What I should do , if gambling in my country illegal?
by
Genji
on 13/06/2016, 12:56:02 UTC
Just make sure your financials can't be connected to your BTC gambling. Use Bitmixer or something similar after you buy BTC. Then just use VPN to actually access those sites that could be blocked.
Post
Topic
Board Gambling
Re: Script for Gambling Sites!!!
by
Genji
on 13/06/2016, 12:48:14 UTC
You can not beat the game by using any kind of a script as the house-edge is integrated so that bypassing it is impossible.
Post
Topic
Board Gambling
Re: I tried my luck again in yobit dice game..But ended to lose
by
Genji
on 13/06/2016, 12:30:39 UTC
Is YoBit even provably fair? Might be better playing games that actually are like BitDice, BetKing, PrimeDice etc etc
Post
Topic
Board Games and rounds
Re: Do you want me to send you $500 worth of bitcoin today?
by
Genji
on 26/05/2016, 11:29:20 UTC
he just want your ID card and number for illegal activities on the internet . don't be fooled.

I got the same feeling.

Definitely something not worth doing for $500...
Post
Topic
Board Gambling discussion
Re: LUCK!!! :) How does it feels?
by
Genji
on 26/05/2016, 11:21:42 UTC
Luck feels good. The annoying part is you never know when it ends...