Show HN: My friends just built a Bitcoin casino(bitino.com) |
Show HN: My friends just built a Bitcoin casino(bitino.com) |
Fun, simple. GJ.
Then you are breaking the law. UK-based gambling companies have to ensure that customers are over 18. Running a gambling game that uses anonymous payments goes against this principle!
In fact, you'll have to do that ANYWAY to be compliant, regardless of the method you use to fund accounts.
I wonder if it is possible to use bitcoins and comply with the UK gambling restrictions against money laundering? At first glance, it looks impossible, bitcoins being (supposedly) untraceable. However, you might be able to comply if you insist that winnings are always paid back to the same bitcoin wallet that they came from. The justification here being that your website won't have 'washed' the money any further than it was already laundered.
It would make for some moderately interesting math, I wonder if there would be an interest in such a service? Basically casinos could then wrap this marketplace and have people gamble, with their expected gains being at a sort of market optimum.
Could you fix this ASAP because I actually put a decent amount of money in this...
There's actually a lot of them. Is there a way to just modify it so that I can withdraw using just the private URL? (Otherwise, I'll send another support email [from gummybean] with the addresses.)
It seems like there's nothing to stop the casino inserting their own played games (either real but fixed, or entirely faked) to "adjust" the balance of historical payouts in one direction or another?
The concept of the public seeds is clever though
It's what all the other bitcoin gambling websites do. I can't hotlink it, but visit here[0] and click "verification" in the top right.
however, historical payouts dont effect the veracity/authenticity and fairness of the game.
they are displayed to highlight some recent payouts more to establish initial credibility than anything else.
http://www.wired.com/threatlevel/2012/03/feds-seize-foreign-...
"ammounts" should read "amounts"
"Private Game URL's" does not need an apostrophe
"You muse keep your game" should read "You must keep your game" (I'm guessing that one)I am curious how are you guys making profit then?
Provably fair means you know exactly what you are dealing with before you start. Game payout odds are clearly displayed in the payout table.
1. The random number was generated before you even started. So the house could not change the number depending on the actual bets.
2. Distribution of random numbers over time. E.g. if the rule is "win when uniformly random number 0..1 is greater than 0.5", then you can check the history of all random numbers played (at least with your bets, if you don't trust the house to show real bets for other players) and calculate the properties of actual distribution. If it does not contain a significant offset, then it's fair. (Small deviations can be seen simply as part of the fee.)
My apologies if I've mischaracterized you, but a casino is "a public room or building where gambling games are played." bitino seems to clearly be an online variant of that.
(Edit: can't grammar)
I'm more interested to see if these guys get shut down or if the Gaming Commission would turn a blind eye. I notice no available contact details on the site or domain name registration. (Good for avoiding the law, bad for making me trust you with my money.)
The problem with your provably random method is that it is still possible for the house to get a slight edge. Since the server seed is random, you could regenerate it hundreds of thousands of times so that the house has a slight edge for the first two or three flips (assuming there are lots of people playing on the same deck, it gets wayyyy easier if it is one deck per person). You don't need that much of an edge to dominate your competition. An edge of 2 or 3% doubles your revenue; which would 4x or 6x your profit, since margins are usually thin for gambling sites.
This would make people believe you were paying out at a higher rate than you actually are.
I'm not suggesting you're doing that, just wondering what stops it, as I don't see anything immediately obvious.
the games are random and can be verified to be so. we publish the payout table. if you win we pay, if you lose, we don't.
other peoples historic results have no bearing on the authenticity of your game.
MIME-Version: 1.0
Received: by 10.181.12.109 with HTTP; Fri, 1 Mar 2013 05:56:50 -0800 (PST)
Date: Fri, 1 Mar 2013 08:56:50 -0500
Delivered-To: gummybean@gmail.com
Message-ID: <CAN-d5MKpUD4b=NVXrEcNEN8BB014k5txuBvQ49D+f=GPBL0_hg@mail.gmail.com>
Subject: URGENT: Problem withdrawing from private URL!
From: Gummybean <gummybean@gmail.com>
To: support@bitino.com
Content-Type: multipart/alternative; boundary=f46d04451a1f07ab6e04d6dd6126
--f46d04451a1f07ab6e04d6dd6126
Content-Type: text/plain; charset=ISO-8859-1
Dear Bitino,
I'm a little bit worried. I was saving the URL's (here's one of mine:
http://bitino.com/REMOVED/) to go back to and withdraw my cash
later. The page shows the correct bitcoin balance, but they're not letting
me withdraw! It says I haven't played a game, so even when I go ahead and
play another round, it still says "You haven't played yet!"
Could you fix this ASAP because I actually put a decent amount of money in
this.
Thanks,
REMOVED
--f46d04451a1f07ab6e04d6dd6126
Content-Type: text/html; charset=ISO-8859-1
Content-Transfer-Encoding: quoted-printable
<div>Dear Bitino,</div><div><br></div>I'm a little bit worried. =A0I wa=
s saving the URL's (here's one of mine:=A0<a href=3D"http://bitino.=
com/REMOVED/">http://bitino.com/REMOVED/</a>) to =
go back to and withdraw my cash later. =A0The page shows the correct bitcoi=
n balance, but they're not letting me withdraw! =A0It says I haven'=
t played a game, so even when I go ahead and play another round, it still s=
ays "You haven't played yet!"<div>
<br></div><div>Could you fix this ASAP because I actually put a decent amou=
nt of money in this.</div><div><br></div><div>Thanks,</div><div>REMOVED</div>
--f46d04451a1f07ab6e04d6dd6126--Thanks