Minuscule fees, permanent transactions, simple payments, and quick transfers are some of the core qualities that make bitcoin the preferred currency by many. For gambling options in particular, these benefits provide great utility. As a result, the bitcoin gambling industry is filled with unique and creative casinos, with new ideas forming constantly.
Launched in July of 2014, MoneyPot is a prime example of the creativity found in the bitcoin gambling world. The game play is simple, and at face value, there isn’t much strategy to it. The website initially greets you with a sleek, simple design. After clicking “Play Now!”, the user is redirected to a graph. The value of the graph increases exponentially, and the current value of it represents the value of your bet. At any time, the game can end, and the value of the graph reduces to zero. After the crash, there is a short intermission to place your next bet, before the graph restarts at x1 and the game commences.
The graph represents the value of your bet, and the goal is to withdraw your bet before the graph hits zero, and the game ends. Like any risky investment, the most profit will come if you hold onto your bet as it grows and cash out right before it loses all value. The game can crash at any given time, and there is no indication prior to it.
There is also another element to the game, an element that makes it social. To the right of the graph is a box that indicates all active betters. The box updates to indicate exactly when each player withdraws their bet before the crash. The game also offers a bonus to the last handful of players who cash out before the crash. The house edge fluctuates between 0 and 1%, and part of this house edge is redistributed through this bonus.
This bonus adds another mechanic to the game, and allows for skilled players to beat the edge. By setting your bets based off of the competition, you can receive frequent bonuses that overcome the house edge. Bonus prizes are commonly worth between 1-3% of your bet, but can the bonus can reach up to 100%. This means the most skilled players can achieve a positive edge of 2-3% or more.
The base bet on MoneyPot is one bit, and all bets are measured in bits. The top ten most profitable players have all earned more than at least seven million bits, which equals net profits of more than seven bitcoins each. These players have found a viable strategy, and have exploited the bonus to obtain a positive edge.
Deposits are acknowledged after just one confirmation, allowing users to get into the action in just several minutes in most cases, and never after more than an hour. For those who wish to give the game a try before depositing, the site also features a faucet that pays users a couple of bits every hour.
MoneyPot is a fast paced and intense option for all bitcoin gamblers. The site is both profitable and fun, and if you haven’t done so already, register an account and give it a try.