This month we finally made our first 1 Bitcoin in profit! Thanks to the the great sites we are invested in 🙂 It has now been five months since we started our Bitcoin Gambling Investments experiment and we have now made a 23.66% return on a Bitcoin basis and a 96.89% return on a USD basis.
In aggregate our initial 5 Bitcoin Investment is now worth 6.18321 Bitcoins, or on a USD basis our $3000 investment is now worth approximately $5907. This month we saw a big growth in the USD and a good return from the Bitcoin Gambling sites.
A summary of the investment returns on the current Bitcoin Gambling sites held is tabulated below:
A plot of the weekly returns from all site investments (running and discontinued) is below:
This month we added KingDice to our list of investments and have been impressed with the site and returns to date. You can read our review of KingDice here and watch our video review of KingDice here.
If you read our last post you will know we were disappointed with the returns and risk profile at Bitvest and as such removed our investment. The developer and admin known as Zodiac proactively created a survey for all bankroll investors and responded to the survey leaving the following comment on our last post:
Our profits are back up to 45+ BTC now at Bitvest. The main reason for the extreme volatility was betting volume increasing over ten-fold around the time we released dice. We also had a few extremely lucky players, including a couple jackpots in a short period.
The risk levels were also determined to be somewhat too high, so we’ve reduced them in general over our more volatile games.
We welcome you to try out investing with Bitvest again, our bankroll has nearly doubled in size in the past two months.
Bitvest Developer & Admin,
We are really impressed that Zodiac has made a change so quick to the volatility issues on the site and we will watch it closely over the next month. If their is an improvement we will look into invest again into Bitvest!
SafeDice and Crypto-Games have again continued to grow relatively similar to their past results which we are very happy about. SafeDice has attracted more investment and appears to be getting a lot of betting volume.
Overall the total return after five months of 96.89% on a USD basis is incredible and way above what we expected given the risk profile. The addition of KingDice so far has been positive and SafeDice and Crypto-Games continue to perform well. As we have mentioned many times the main risk we face is a catastrophic event of a site running off with our funds but that has yet to happen. Hopefully the last 7 months of our experiment will continue to produce great returns!
Written on 15 Feb 2017.