casino bonus: simple, straightforward.

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August 29th, 2019 at 2:58:29 PM permalink
OnceDear
Member since: Nov 21, 2017
Threads: 11
Posts: 1504
Quote: Evenbob
To much risk for me, I wouldn't
be able to sleep. I like sure
things, and if owning a casino
was a sure thing, lots more
would be doing it. I'd rather
beat them than be them.
Wizard needs to KNOW, way beyond reasonable doubt that the wagers he wins will cover the cost of the wagers he loses. I know he's great at maths, but there are some massive unknowns. 1, 2, 3 or 100 big players might be 1, 90 or 99% of his total action. I wouldn't trust my math skills , nor even his to join him in this venture. I expect those min bet low rollers would be a significant fixed cost that would crush him slowly and a few high rollers would stop him sleeping.
August 29th, 2019 at 3:34:42 PM permalink
Pacomartin
Member since: Oct 24, 2012
Threads: 1068
Posts: 12569
Here is the story of Nakowa's win

Quote: Daily Dot

https://www.dailydot.com/news/biggest-bitcoin-win-gambling-history-nakowa/
The casino’s slim 1 percent edge is a big attraction to gamblers. It means that players have a realistic shot of winning money. That fact alone gets more and more people betting their Bitcoins. Over the long run, it means that Just-Dice can take even more money from the players.

However, playing against a meager 1 percent disadvantage means that once a high roller like Nakowa inevitably hits a good streak, he can wield his massive bankroll like a club by repeatedly betting big with almost no thought to his losses until he eventually does serious damage to the casino’s coffers.



https://www.harpercollins.com/9780060835835/double-or-nothing/

Double or Nothing is a book about two short term owners of the Golden Nugget. They cut their odds deeply to attract whales, until one of them wiped out a whole quarter's profits. Tom Breitling lives over by the Wizard in Summerlin.



"Royalty is coming."

Well, Johnny D. didn't say it exactly like that. Mr. Royalty is what we'll have to call a guy whose real name I can't tell you. The House doesn't reveal the identities of its gamblers. But Mr. Royalty is a good cover. There's plenty of truth and irony in it.

The truth is Mr. Royalty was able to swagger into The Golden Nugget carrying a pillowcase stuffed with hundred-dollar bills over his shoulder because of the royalties he was making off a line of video games that he'd created. If you're a man between eighteen and forty, you know his games. You've probably played them. One of his games grew so popular, rumor is he sold it outright for $40 million.

The irony in the name is that there's nothing regal about him. Even when he was winning millions at the craps table, he could be a five-alarm asshole. The dice never seem to come back to Mr. Royalty fast enough. "Gimme them!" he'd bark at the croupier. "Don't mess up my rhythm!" When he was losing, he'd abuse everyone around him—not even the cocktail waitresses were immune.

Mr. Royalty had been thrown out of quite a few casinos around Las Vegas. The owner of one hotel swore that even if he had a crystal ball showing Mr. Royalty losing $20 million at his casino over the next year, he still wouldn't let him through the doors. And my partner, Tim, was definitely conflicted about having Mr. Royalty at The Golden Nugget.

Tim has been described as a throwback—the oldest young man on the planet. Eventhough he was thirty-six and this was October 2004, he lived his life to the tunes of Frank Sinatra. That was one of the reasons Tim and I bought The Golden Nugget in the first place. We'd try to restore it to the glory of the Sinatra days and at the same time bring some color to a faded downtown.

Sinatra was now buried under a tombstone inscribed with the title of one of our favorite songs: "The Best Is Yet to Come." But an old friend of Frank's was still around. So we'd brought in Tony Bennett to sing at The Nugget. We had the cast of The Sopranos in our swimming pool. We set up a reality TV show around our casino with the same producer who'd made "You're Fired!" one of the most popular phrases in America. The idea was to create a buzz that would make people want to leave The Strip and take the twenty-minute drive downtown to be at The Nugget. Most of all, we wanted The Nugget to be the spot in Vegas to place a bet.

If every other casino was offering gamblers five times odds, Tim figured we'd give them ten. If your limit was $50,000 a hand at your hotel, Tim might let you play for $100,000 a hand at The Nugget. The strategy was pretty simple. We'd give you a better chance to win than anybody else and let you bet more.

When you throw that kind of chum into the water, you're going to attract sharks like Mr. Royalty. We didn't want his profanity, but we sure wanted his pillowcase. And more than that—we wanted the action.

We wanted people to tell their friends how Mr. Royalty had come with stacks of hundred-dollar bills that had been wrapped in plastic, vacuum sealed, and trucked direct from the U.S. Mint. When other high rollers got a whiff of mint in the air, they'd want in on the action, too. There are less than a hundred gamblers in the world with more than a million-dollar credit line. At one point, four of them came to visit us on a single weekend.

There was only one problem. We were gambling. We were still building up our clientele. And we needed a few others betting like Mr. Royalty that night in order to make the percentages work for us. The numbers were still in our favor—even with the special odds Tim was cutting Mr. Royalty. But we wouldn't have to sweat out a run of luck if others were betting big at the same time. Because then, even if Mr. Royalty did win big, percentages pretty much guarantee that together the others would lose at least enough to balance the books.

So we were vulnerable that night. We were vulnerable to one wild wave of luck.

And it just so happened that Mr. Royalty was on the Bonzai Pipeline.

He'd pulled up at The Nugget one night at the end of September in his $350,000 Maybach and six hours and three minutes later walked out with $4,753,200 of our money.

A week later he came back in for three and a half hours and took us for another $1.5 million. But let me give you an idea of how insane his touch had become. Before he even got to the dice pit, he sat down at a slot machine and hit a $100,000 jackpot.

Tim and I had taken the keys to The Nugget only ten months earlier. In less than ten hours, Mr. Royalty had basically wiped out what was going to be a great third-quarter profit. To us, that was more than just a figure on a spreadsheet. It was a number that told the world we weren't just a couple of kids who got lucky and hit the jackpot during the dot-com boom. It told the world we were entrepreneurs who knew how to make a business soar.

That number was now gone. The critics in the press who sneered whenever Tim and I took a risk that flopped would now have more ammo. And we didn't need Ed Borgato, the man who tracked our finances and who was eating dinner with us that night, to remind us that in two weeks we owed our investors a $7.5 million interest payment. But he did anyway.
August 29th, 2019 at 11:56:09 PM permalink
Fleastiff
Member since: Oct 27, 2012
Threads: 62
Posts: 7831
Perhaps Casino 99 will become an online high roller room for those who have proved themselves worthy at Casino 95. Seems the best of both schools of thought.
August 30th, 2019 at 6:15:18 PM permalink
odiousgambit
Member since: Oct 28, 2012
Threads: 154
Posts: 5053
Quote: OnceDear
Woo hoo,

If Mike S ever does launch this internet casino, and if it is open to the UK, I'll be all over it and I PROMISE*.
Prediction: O.D. will patiently wait until you offer a loss rebate - till then you can forget it!
I'm Still Standing, Yeah, Yeah, Yeah [it's an old guy chant for me]
August 30th, 2019 at 7:42:07 PM permalink
Evenbob
Member since: Oct 24, 2012
Threads: 146
Posts: 25010
What's to stop us getting a VPN
and playing it. I've done that with
other online casinos. All you need
is a cohort in a country that will
be sent the money and he PayPal's
it to you.
If you take a risk, you may lose. If you never take a risk, you will always lose.
August 31st, 2019 at 1:32:43 AM permalink
OnceDear
Member since: Nov 21, 2017
Threads: 11
Posts: 1504
Quote: odiousgambit
Prediction: O.D. will patiently wait until you offer a loss rebate - till then you can forget it!
Noooooo.
If he offers a 99% blackjack with low min stakes and moderately high table max, I'll Marty into the house edge with the intention of winning $10.
It would make for a fun anecdote either way,
August 31st, 2019 at 5:46:56 PM permalink
Pacomartin
Member since: Oct 24, 2012
Threads: 1068
Posts: 12569
In Canada the entrepreneur known as "dooglus" discovered that a 99% casino attracted people who were determined to see if Martingale really works. Since Bitcoin is divisible into 8 decimal places allowing very small bets, and you can set an automated betting procedure, some people simply programmed in a Martingale scheme to play hundreds of thousands of times.

BTC is currently $9,635/BTC. At $10,000 the smallest divisible unit is a tenth of a mil or 1% of penny. Of course if you win 30 times in a row you would be up over $200K.
August 31st, 2019 at 6:03:43 PM permalink
Gandler
Member since: Aug 15, 2019
Threads: 27
Posts: 4236
Quote: Pacomartin
In Canada the entrepreneur known as "dooglus" discovered that a 99% casino attracted people who were determined to see if Martingale really works. Since Bitcoin is divisible into 8 decimal places allowing very small bets, and you can set an automated betting procedure, some people simply programmed in a Martingale scheme to play hundreds of thousands of times.


They would have the same results as flat betting in the long run.

There used to be a bitcoin casino, that allowed 1-1 betting on a coin toss, no HE (betting against somebody else not the House, but there were always bets), martingale was very popular. This was in the early days of bitcoin where the value was low and it was more of a novelty. But, the martgingale will always have the same results, even with 0 HE.
August 31st, 2019 at 6:23:39 PM permalink
Pacomartin
Member since: Oct 24, 2012
Threads: 1068
Posts: 12569
Quote: Gandler
They would have the same results as flat betting in the long run.


Well there is no mathematical basis to support any betting strategy. The point was not wether it was smart, just that people did it.
September 1st, 2019 at 11:51:10 PM permalink
Pacomartin
Member since: Oct 24, 2012
Threads: 1068
Posts: 12569
Wizard

One of dooglus's unique features for his 99% casino "just-dice" was that the general public was invited to be investors in the casino for a preset return on the money. The maximum permissible bet was a percentage of the total "bank" created by the investors. "Dooglus" was taking a small fee from each bet, but he was also an investor running the same risks as any other investor.

Are you thinking of doing something similar or would you have your own backers?
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