I found bitvest a few days ago and found this gambling and investing platform to be very interesting indeed. There are many different investment platforms, some of which i wrote about in an earlier blog post, although many of these appear to be ponzi schemes with no real product or service creating the profits.
Bitvest on the other hand appears to have a fair bit of gambling profits going through the system. You can see on the main page all the games that are played in real time, including the amount won or lost, it updates very fast.
Bitvest allows you to invest bitcoin into the system, and you essentially become the house, earning a percentage of the gambling profit the system generates. Your profit is based on how much of the total bank roll you own. On the bit vest website it states:
Unlike conventional casinos where you bet against a bankroll held solely by the owner. At Bitvest, our investors control the bankroll! When a player wins or loses, the bet goes to this public bankroll and generates profits (or losses) for all those who are invested. To keep everything running and fund development, we change a small commission explained in detail below.
Your share is equal to (Your_Investment / (Global_Bankroll + Your_Investment)) * 100%. If you had 1 BTC invested, and the global bankroll was 99 BTC before you invested, your share would be: (1 / (99 + 1)) * 100% = 1% meaning 1% of all profits and losses would be applied to your investment.
With this bitcoin gambling and investing system it’s also possible to invest on margin to increase your profits, although this of course increases your risk.
Margin is used to increase the size of your investment, without having to deposit additional funds. If you were to invest at a 5x margin, you’d earn 5x the profits, but also have exposure to 5x the risk. For example, in a case where you’d earn 0.01 BTC profit off a bet, with 5x margin you’d earn 0.05 BTC, however, in the case where you’d lose 0.01 BTC, you’d lose 0.05 BTC instead. If you feel the risk is worth the extra reward, then you may opt to invest on margin.
We only recommend the use of margin to those who understand the risks involved; however, it can be a great way to drastically increase your earnings and control a larger share of the bankroll. The majority of our investors at this time use a margin of 3.00 – 5.00x.
If you use margin, your share will be equal to (Your_Investment * Margin / (Global_Bankroll + Your_Investment * Margin)) * 100. In the case above, if you invested on 5x margin, your share would be: (1 * 5 / (99 + 1 * 5)) * 100% = 4.808%. This is not equal to 5% because the size of the bankroll was slightly increased by your use of margin.
Here is a look at the different games offered by bitvest:
First up is my personal favorite, roulette, Straight up black or red for me, although you can win big by choosing the correct number. I have tried many gambling sites and i found bit vest to be the easiest to use when it comes to the online bitcoin roulette, it just works first time nice and easy.
Next is a real easy one to play, bitspin – Simply spin the wheel and if it lands on the winning icons your bitcoin will be multiplied by the amount you bet.
Here is the bitcoin dice offered by bitvest, simply choose the amount of bitcoin you want to bet and then choose the odds. The higher the odds the better chance of winning although the amount won is less. Increase your bet to win more, although the chances of losing are higher.
And what online casino or gambling website would be complete without slots or poker machines. Simply choose the amount you want to bet and the amount of lines, a simple and easy to use online poker machine that requires no time at all to sign up and start using.
Plinko is another cool bitcoin online gambling game you can play via the online casino bitvest – Simply place your bet and choose how many drops you want to allow. The more drops the higher the winnings, although the greater the risk.
Bitvest’s website is simple and clean looking, and everything works really well. The affiliate program offers 3 levels of affiliate commission, earn 5% for direct referrals and 1% for level 2 and 3 referrals. You can refer both investors and gamblers alike, the earning potential is huge if you refer enough people.
From my research bit vest has been online since 2016, and has no scam reports against it. I am still yet to properly test the investing function, i will do so shortly and post a review in the future.
To me this seems like a more solid investment, earning money from gambling revenue, although i am sure there is some risk to it.
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