Frequently Asked Questions

bustabit

Place a bet. Observe the multiplier increase from 1x upwards! Cash out any time to get your bet multiplied by that multiplier. But be careful because the game can bust at any time, and you’ll get nothing!

A bit is a millionth of a bitcoin or one hundred satoshis. At the time of this writing, a single bit is worth toughly $0.0003 USD. You are able to deposit and withdraw bits at any time by going to your account page.

Deposits

You will need to transfer bitcoins to the deposit address on your account page. If you do not have any bitcoins, we can recommend Coinbase if you are in the US (albeit the registration process is lengthy). Another excellent option is LocalBitcoins.com, which lists traders in your area willing to sell (or buy) bitcoins. You can also search online to see if there are any bitcoin ATMs near you. And recall, you can withdraw directly to the bitcoin address on your account page!

How long is the deposit address valid?

It is permanently fastened to your account. You can save it, or use it for automatic funding, or whatever else you like. All payments to this address will be automatically credited to your account.

How long do deposits take to be credited?

We instantly credit accounts upon a single confirmation, which on average is approximately ten minutes from the time of the transaction.

How do I withdraw bits?

On your account page, you can transfer bits to any bitcoin address you want. Petite withdrawals (i.e. smaller than the balance of our hot-wallet) are processed instantly and you will be given the transaction ID instantly.

Larger withdrawals will be shown in your withdrawal page as “PENDING” and will require us to by hand eliminate sufficient funds from our cold storage. Usually this process will take less than two hours, but may take up to twenty four hours, depending on the time of day and other circumstances.

We eliminate one hundred bits (about 0.05 USD) from any withdrawal amount to cover mining fees. We charge this amount regardless of the actual mining fees linked to the transaction, which may be more or less than this, depending on the block competition at the time of your withdrawal.

Withdrawals must be in increments of one bit (100 satoshis), with a minimum withdrawal of two hundred bits (of which one hundred bits goes towards the mining fee). As required, we will chip in our own money to help expedite confirmation time, such that we typically pay two hundred bits in mining fees, despite charging you only one hundred bits.

What is gross profit?

Gross profit refers to the sum of the profit from each game you’ve played without considering your loses.

Upon detecting that you have disconnected we cash you out (assuming the game is still in progress). Regardless of whether your client is connected or not, the auto cash-out feature will work as expected (it happens on the server), and we very recommend you use it if internet reliability or spectacle is a concern.

How high can the game go?

There’s no real limit! However, if during a game we ever are facing a net loss of 3% of the bankroll or greater, the server will automatically cash out all players still in the game, forcing them to love an early win and a sizeable profit. You can see in game what the current max win is (in the bottom right of the chart)

What is the most I can bet?

We presently have a bet limit of 1,000,000 bits (1 BTC).

What is the bonus?

The bonus is a special prize that is awarded to the last people to cash out before the game busted. Getting the bonus is critical to skillful playing of bustabit, as it is the only way to overcome house odds.

1% of each player’s stake goes into the bonus pot. So if there are four players, betting 400, 300, 200, and 100, there will be ten bits in the pot. If the fattest player wins, he gets the entire pot. The site works out the rate he would be getting if he won, ie. Four hundred bits bet gives ten bits bonus – or 1/40th bonus per bit bet. It then applies the same rate to whoever actually wins.

So if the one hundred bit player wins, he gets 1/40th of 100, or Two.Five bits. That leaves 7.Five bits in the pot, which goes to the next best placing player(s).

Suppose the two hundred bit player comes 2nd. He is due 1/40th of 200, or five bits. There are still 7.Five bits in the pot, so he gets the total five bits he is due – the same as if he had come in 1st place.

Suppose the three hundred bit player comes 3rd. He’s due 7.Five bits (300/40) but there are only Two.Five bits left in the pot, so he gets those and that’s all. There’s nothing left for the 4th or worse place players.

1% of games will instant bust (0x) and no bonuses will be awarded, all other games have bonuses equal to 1% of the amount wagered.

Fairness

The house margin is scaled inbetween zero and one %, depending on how long you hold. An extra one % is effectively taken from every bet and put into the bonus pool, which is distributed in its entirety every game. As a consequence, skilless or random play has—at worst—an expected comeback of -2 %, but it is possible to overcome the house margin by skillfully getting bonuses.

The numbers are baked into the game, so you never need to worry about it. We do not have a immovable house margin, as this would prevent very conservative play (e.g. If you were only attempting to make $Two in a $100 game, a house margin of one % would be fifty % of your potential profits!). Our unique formula makes it fair for both very conservative play (cash out early) and very aggressive play (hold until you’re a millionaire). All games are provably fair.

The exact formula for the houses expected comeback is:

1 % * (intendedCashOut – roomAmount) * (roomAmount / intendedCashOut)

But to truly get a good sense of how this affects you, please use our handy odds calculator.

The other significant thing to keep in mind is that every game has a one % chance of instantly busting. We do not make any money on it, but rather use this to fund the bonus scheme. This is an significant consideration to make if you are playing in such a way that you never win the bonus.

How is the game bust calculated?

The code that determines the multiplier for each round is here:

It basically does three things.

Very first, it mixes the hash with the clientSeed (determined by the provably fair seeding event) using hmac-sha256

Secondly it gives a one in one hundred one chance of instant busting

Third, it works out what the multiplier would be if there was no house edge.

Fourth, it takes 1% off the multiplier and adds on 0.01x:

So half the time (other than 0x bust which we can overlook because they pay for themselves with the bonus) the multiplier will be 1.99x or more.

That means if we bet 1.99x we have a 50% chance of winning (again, disregarding 0x busts), and so the house edge is:

100 – (1.99 * 50) = one hundred – 99.Five = 0.5%

The extra 0.01 that gets added on to the multiplier is half of the 1% that was taken off in this case, leaving the house edge at 0.5%. As the multiplier gets thicker, the 1% that is taken off gets fatter, and the 0.01x that gets added on becomes less and less significant, causing the house edge to tend to 1%

Absolutely! And we can prove it. Please see: the bitcoin talk thread for technical details.

How to verify the game results?

There are already 3rd party scripts to verify the game hashes and to calculate the results like this JSFiddle.

What happens when the server compels people to cash out?

Under some circumstances the server will force people to cash out. The most common reason is that the game multiplier has gotten so large that we are taking a chance too much of our bankroll (Ten % or more). Another possible reason is unexpected server problems. If more than one person in a game is affected by the compelled cash-out, we allocate the last cash-out bonus to a random player.

What other gambling places do you recommend?

A duo quick pointers: the lower the house edge the more variance you will practice which means a longer, more titillating gaming session. Bitcoin Casinos generally suggest better odds, less fees and swifter deposits and withdrawals than fiat based casinos. Be enormously skeptical of generous prize programs, bonuses (e.g. deposit bonuses), affiliate programs and the likes. The money comes from somewhere: you.

Instead of listing our favorites here, we’ll defer to the excellent bitcoin unwrap

Do you have gambling addiction?

Gambling addiction, also known as compulsive gambling, is a type of impulse-control disorder. Compulsive gamblers can’t control the impulse to gamble, even when they know their gambling is hurting themselves or their loved ones. Gambling is all they can think about and all they want to do, no matter the consequences. Compulsive gamblers keep gambling whether they’re up or down, broke or flush, blessed or depressed. Even when they know the odds are against them, even when they can’t afford to lose, people with a gambling addiction can’t “stay off the bet.”

Gamblers can have a problem, however, without being totally out of control. Problem gambling is any gambling behavior that disrupts your life. If you’re preoccupied with gambling, spending more and more time and money on it, pursuing losses, or gambling despite serious consequences, you have a gambling problem.

If you think you have this problem please visit one of these sites to get assistance:

Frequently Asked Questions

bustabit

Place a bet. Witness the multiplier increase from 1x upwards! Cash out any time to get your bet multiplied by that multiplier. But be careful because the game can bust at any time, and you’ll get nothing!

A bit is a millionth of a bitcoin or one hundred satoshis. At the time of this writing, a single bit is worth toughly $0.0003 USD. You are able to deposit and withdraw bits at any time by going to your account page.

Deposits

You will need to transfer bitcoins to the deposit address on your account page. If you do not have any bitcoins, we can recommend Coinbase if you are in the US (albeit the registration process is lengthy). Another good option is LocalBitcoins.com, which lists traders in your area willing to sell (or buy) bitcoins. You can also search online to see if there are any bitcoin ATMs near you. And recall, you can withdraw directly to the bitcoin address on your account page!

How long is the deposit address valid?

It is permanently affixed to your account. You can save it, or use it for automatic funding, or whatever else you like. All payments to this address will be automatically credited to your account.

How long do deposits take to be credited?

We instantly credit accounts upon a single confirmation, which on average is approximately ten minutes from the time of the transaction.

How do I withdraw bits?

On your account page, you can transfer bits to any bitcoin address you want. Petite withdrawals (i.e. smaller than the balance of our hot-wallet) are processed instantly and you will be given the transaction ID instantly.

Larger withdrawals will be shown in your withdrawal page as “PENDING” and will require us to by hand eliminate sufficient funds from our cold storage. Usually this process will take less than two hours, but may take up to twenty four hours, depending on the time of day and other circumstances.

We eliminate one hundred bits (about 0.05 USD) from any withdrawal amount to cover mining fees. We charge this amount regardless of the actual mining fees fastened to the transaction, which may be more or less than this, depending on the block competition at the time of your withdrawal.

Withdrawals must be in increments of one bit (100 satoshis), with a minimum withdrawal of two hundred bits (of which one hundred bits goes towards the mining fee). As required, we will chip in our own money to help expedite confirmation time, such that we typically pay two hundred bits in mining fees, despite charging you only one hundred bits.

What is gross profit?

Gross profit refers to the sum of the profit from each game you’ve played without considering your loses.

Upon detecting that you have disconnected we cash you out (assuming the game is still in progress). Regardless of whether your client is connected or not, the auto cash-out feature will work as expected (it happens on the server), and we very recommend you use it if internet reliability or spectacle is a concern.

How high can the game go?

There’s no real limit! However, if during a game we ever are facing a net loss of 3% of the bankroll or greater, the server will automatically cash out all players still in the game, forcing them to love an early win and a sizeable profit. You can see in game what the current max win is (in the bottom right of the chart)

What is the most I can bet?

We presently have a bet limit of 1,000,000 bits (1 BTC).

What is the bonus?

The bonus is a special prize that is awarded to the last people to cash out before the game busted. Getting the bonus is critical to skillful playing of bustabit, as it is the only way to overcome house odds.

1% of each player’s stake goes into the bonus pot. So if there are four players, betting 400, 300, 200, and 100, there will be ten bits in the pot. If the thickest player wins, he gets the entire pot. The site works out the rate he would be getting if he won, ie. Four hundred bits bet gives ten bits bonus – or 1/40th bonus per bit bet. It then applies the same rate to whoever actually wins.

So if the one hundred bit player wins, he gets 1/40th of 100, or Two.Five bits. That leaves 7.Five bits in the pot, which goes to the next best placing player(s).

Suppose the two hundred bit player comes 2nd. He is due 1/40th of 200, or five bits. There are still 7.Five bits in the pot, so he gets the total five bits he is due – the same as if he had come in 1st place.

Suppose the three hundred bit player comes 3rd. He’s due 7.Five bits (300/40) but there are only Two.Five bits left in the pot, so he gets those and that’s all. There’s nothing left for the 4th or worse place players.

1% of games will instant bust (0x) and no bonuses will be awarded, all other games have bonuses equal to 1% of the amount wagered.

Fairness

The house margin is scaled inbetween zero and one %, depending on how long you hold. An extra one % is effectively taken from every bet and put into the bonus pool, which is distributed in its entirety every game. As a consequence, skilless or random play has—at worst—an expected come back of -2 %, but it is possible to overcome the house margin by skillfully getting bonuses.

The numbers are baked into the game, so you never need to worry about it. We do not have a stationary house margin, as this would prevent very conservative play (e.g. If you were only attempting to make $Two in a $100 game, a house margin of one % would be fifty % of your potential profits!). Our unique formula makes it fair for both very conservative play (cash out early) and very aggressive play (hold until you’re a millionaire). All games are provably fair.

The exact formula for the houses expected come back is:

1 % * (intendedCashOut – roomAmount) * (roomAmount / intendedCashOut)

But to indeed get a good sense of how this affects you, please use our handy odds calculator.

The other significant thing to keep in mind is that every game has a one % chance of instantly busting. We do not make any money on it, but rather use this to fund the bonus scheme. This is an significant consideration to make if you are playing in such a way that you never win the bonus.

How is the game bust calculated?

The code that determines the multiplier for each round is here:

It basically does three things.

Very first, it mixes the hash with the clientSeed (determined by the provably fair seeding event) using hmac-sha256

Secondly it gives a one in one hundred one chance of instant busting

Third, it works out what the multiplier would be if there was no house edge.

Fourth, it takes 1% off the multiplier and adds on 0.01x:

So half the time (other than 0x bust which we can disregard because they pay for themselves with the bonus) the multiplier will be 1.99x or more.

That means if we bet 1.99x we have a 50% chance of winning (again, disregarding 0x busts), and so the house edge is:

100 – (1.99 * 50) = one hundred – 99.Five = 0.5%

The extra 0.01 that gets added on to the multiplier is half of the 1% that was taken off in this case, leaving the house edge at 0.5%. As the multiplier gets fatter, the 1% that is taken off gets fatter, and the 0.01x that gets added on becomes less and less significant, causing the house edge to tend to 1%

Absolutely! And we can prove it. Please see: the bitcoin talk thread for technical details.

How to verify the game results?

There are already 3rd party scripts to verify the game hashes and to calculate the results like this JSFiddle.

What happens when the server coerces people to cash out?

Under some circumstances the server will force people to cash out. The most common reason is that the game multiplier has gotten so large that we are taking a chance too much of our bankroll (Ten % or more). Another possible reason is unexpected server problems. If more than one person in a game is affected by the compelled cash-out, we allocate the last cash-out bonus to a random player.

What other gambling places do you recommend?

A duo quick pointers: the lower the house edge the more variance you will practice which means a longer, more titillating gaming session. Bitcoin Casinos generally suggest better odds, less fees and swifter deposits and withdrawals than fiat based casinos. Be utterly skeptical of generous prize programs, bonuses (e.g. deposit bonuses), affiliate programs and the likes. The money comes from somewhere: you.

Instead of listing our favorites here, we’ll defer to the excellent bitcoin undress

Do you have gambling addiction?

Gambling addiction, also known as compulsive gambling, is a type of impulse-control disorder. Compulsive gamblers can’t control the impulse to gamble, even when they know their gambling is hurting themselves or their loved ones. Gambling is all they can think about and all they want to do, no matter the consequences. Compulsive gamblers keep gambling whether they’re up or down, broke or flush, blessed or depressed. Even when they know the odds are against them, even when they can’t afford to lose, people with a gambling addiction can’t “stay off the bet.”

Gamblers can have a problem, however, without being totally out of control. Problem gambling is any gambling behavior that disrupts your life. If you’re preoccupied with gambling, spending more and more time and money on it, pursuing losses, or gambling despite serious consequences, you have a gambling problem.

If you think you have this problem please visit one of these sites to get assistance:

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