Bitcoin Gambling Investments 1/12
This is our first of twelve monthly updates of our Bitcoin Gambling Investments experiment. Overall our first month has yielded exceptional returns of 6.58% on a Bitcoin basis and 6.78% on a USD basis. In aggregate our initial 5 Bitcoin Investment in 5 different Bitcoin Gambling sites is now worth 5.32883 Bitcoins, or on a USD basis our $3000 investment is now worth approximately $3203. A summary of the returns on different Bitcoin Gambling sites is tabulated below:
Bitcoin Gambling Returns
BetKing: Has a house edge of 1% and as an investor we get 0.75% with the site keeping the remaining 0.25%. BetKing over the month had a huge amount of Bitcoins Wagered with someone losing around 1000 Bitcoins. This lead to the biggest individual monthly return of 20.93%.
MoneyPot: Has a varying house edge depending on the game, however as an investor you are entitled to 0.3% of the house edge of the game being played. Over the month MoneyPot was slightly negative and ended flat.
SafeDice: Has a house edge starting at 0.5% (but can increase with respect to large bets against the bankroll), and as an investor we get 0.4% with the site keeping the remaining 0.1%. Over the month SafeDice had a lot of money wagered and the low house edge lead to a large variance day by day. However overall it had a good return of 4.26%. The site did go down a couple of times which made us a little nervous, but then returned again.
Crypto-Games: Has a house edge for Dice of 0.8% and as an investor we get 0.64% with the site keeping the remaining 0.16%. Overall for the month Crypto-Games returned a solid 9.84% and was slowly but constantly growing week by week. We made a Video Review of Crypto-Games which can be viewed here.
Satoshi Dice: Has the highest house edge of 1.9% and as an investor we get 0.95% of all earnings with the site keeping the remaining 0.95%. With such a high house edge we were surprised that over the entire month Satoshi Dice return was negative, however over the entire year we expect the returns here to be positive (assuming the bet volume is high).
Bitcoin Gambling Investments 1/12 Summary
Overall the first month return of 6.58% on a Bitcoin basis is a solid return. We are a little surprised as to which Gambling sites produced the best and worst returns, however we are only one month in and time will tell who produces the best results. There is another 11 months and a lot of things can happen in that time. The biggest risk is obviously a Bitcoin Gambling site going down and taking our total investment which would be an immediate approximately 20% loss, so assuming this does not happen we believe our investments will only continue to grow.
We look forward to publishing our next monthly results!
Read our first Bitcoin Gambling Investment Post Here.