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Enzo

Bustabit changes investment scheme!

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Bustabit, a popular bitcoin casino recently changed its investment scheme.

For those unaware, bustabit allows open investment. Meaning any user can open an account, deposit bitcoin, and invest in the house.

Recently they changed it so the site earns %50 of the profit from bankroll investors profits. What do you guys think about this change? A lot of people see it as greedy.

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On 2/19/2020 at 4:34 AM, Enzo said:

Bustabit, a popular bitcoin casino recently changed its investment scheme.

For those unaware, bustabit allows open investment. Meaning any user can open an account, deposit bitcoin, and invest in the house.

Recently they changed it so the site earns %50 of the profit from bankroll investors profits. What do you guys think about this change? A lot of people see it as greedy.

How much was before the change ?

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One of the things that used to make me sad was that Primedice and Stake never allowed investments.  I like the idea of math working for you in gambling rather than against you.  However, both sites have prided themselves on not having investment.

The most important thing to remember about investment is that there is no provably fair system that can protect investors like there can be for players.  So investors have to have a lot of trust in the site.  Increasing the cut taken by management would undermine that trust.  I've seen sites slowly destroyed by increasingly greedy ownership taking more and more from investors.  I hope it stops here for those of you who like to visit that site.

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I never heard of a site named bustabit. This is the first time i know of it. And by 50%, you mean like the house edge? Yeah I think they are getting greedy but they should provide reasonable explainations to their investors on their reason of changing their investment scheme.

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I think it's OK... they provide the other resources, so they should be able to earn something. Their risk of losing minimizes, so it's pretty smart... wish more casinos would give this option, then there would be some competition as well and percentages would drop

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No business is going to pay out significant amounts of money to a third party for a contribution that is no longer required and/or has reduced value. This is phase 1 of a strategy to remove investors altogether and for that site to go fully into private hands.

On Stake, watch for the gradual reduction and inevitable removal of affiliate commision. A current example of this in action is with the Stake forums' payment per post.

These are rational business strategies, perfectly normal for businesses to conduct themselves in this manner. Ignorance on the part of investors/affiliates is really their own responsibility.

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