Runescapers Leading Bitcoin Gambling Market

ex-Runescape staker & flower FC owner "Apple"/"Citywinds" opened up a Bitcoin gambling casino (Or dice game) around 9 months ago. The website is called www.primedice.com

It's currently the 2nd biggest Bitcoin gambling website with over $250,000,000 USD worth of Bitcoin gambled on it (300k Bitcoins).

Currently gets over 6,000 visitors per day.



If you gamble Bitcoins show the bloke some support!

 

Not bad, not bad. I don't participate in any BTC gambling, but Voorhees made a god damn fortune selling SatoshiDice.

 

Looks nice, never knew about it before. How does he make the profits? Just off winning with the 0.50% better odds he has?

 

Yeah i was looking at this the other day, can't believe it.

 

He's made over $5 Million off this I've heard, really impressive stuff.

 

It's unbelievable how big this has gotten. When Bitcoins first came out I wouldn't have ever thought that it was going to go this big or else I would've invested (obviously! )

I'd like to get into Bitcoins at some point, but I fear it's at a high right now.

 

I tried to Dice BTC on primedice i have lost about 200$ of btc and I think it is a bullshit. If you wan't to gamble play pokerstars. I don't think the BTC gambling webs are fair. On the 50% chance to win i have lost 9 times in a row.

 

I tried Bitcoin gambling, with the free money they give you, but its really all a scam, the house wins no matter what.

 

Don't believe anything you hear about this site... Look at the numbers yourself

If you look at the current bets, almost all of them of them are fractions of a penny, which the house only earns 1/200th of the fraction of the penny. The easiest way to gauge it is by checking the highrollers tab on their site. The last 2 hours of 'highroller' bets @ a .05 house advantage yielded $21 worth of profit... that amounts to less than $200 per day.

Even if you were to believe that 300k+ BTC was gambled at their site, that still is only 1.5 million at current rates, which, for about half of the site's existence, coins were less than $100 each, so you can slash your awe into fractions because of the quantity gambled at lower prices.

Their stats are mostly falsified, the first 12 hours after they opened they claimed to have some unreal amount of BTC wagered (hundreds of thousands or millions or something) when they had a total of less than $1000 worth of BTC cashed in/out. Once again, if you compare the notable 'highroller' bet amount over the measurable period, you would come up with only ~20k BTC bet over the span of the site, a far cry from the 300k+ they claim.

 

I see 18 BTC in High Roller section alone over the past 3 hours. At a 1% house edge that's 0.18 BTC in 3 hours (~$140). Obviously there's a lot of fluff there (people betting under 1 cent USD), but that's not a bad thing. Those are still people actively using his website and likely talking about his website with other people.

We have no way to tell if his data is reliable at the end of the day, but what we can agree on is the fact that Primedice is a very popular BTC gambling website, and it is definitely earning him good money.

 

I wish i came up with something like this back at the day when btc came out. He makes a lot for sure.

 

Don't we all at this point?
I bet everybody wishes they bought/thought of something a year or so back.

 

Don't worry I'm currently building a time machine.

 

Their house edge is .05%, which means in 3 hours that would be about $70 in revenue, $560 per day. I can agree that their website is popular in the BTC gambling world, but their stats and boasted earnings are complete horseshit.

Yes, their site has a ton of potential, but even compared to businesses with a lot less scope (for example, your gold shop or #dragondyce gambling) they aren't making as much money, at least for the time being.

 

You mention the house edge is 0.05%. From what I saw on the website, the edge was higher. However, I understand that many of these sites have users provide investment to eliminate variance.

So , if that is the case, does that mean:

49.5% chance to gambler
50.5% chance to win (minus 0.05% commission) to investor
0.05% commission to website

If so, that seems a bit crazy to me.

 

300k bitcoins at 250m gambled would be 12.5m profit. give or take, he's a millionaire either way. im jealous af

r2, pretty sure he wins .05% i've checked out the site and never saw anything about commission. i think it's 49.5% chance to win, and he makes money off the .05%. really, he could change it to 1% at 49 chances and im sure ppl would still do it just as much. hell, people would still bet with 45/55 odds or even 40/60.

you can actually change your odds, but the payout depreciates and is still 0.05%

 

I think you might be confused on how this works, there is no commission, the dice is just set up so the house has a .5% chance more than the bettor of winning..

 

Its all in favor towards the house, so is any other form of gambling, you can't win in the long run.

 

To think, I was good friends with him in RS when he was just a mercher named City Winds in 2010 lol. I was always amazed at how much money he made when free trade came out, but this is ridiculous. Props to him.

 

Read my calculations above, where the hell would you even get 12.5m profit from?