BitBet, March 2013 Statement

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Operational results

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Received 143 new propositions, of which accepted 74 worth 1`646.64901255 BTC, rejected 69ⁱ.

Revenue : 58.1270556 BTC, of which :

• bets resolved : 26.49215232 BTCⁱⁱ
• advertising : 3 BTC
• house bets won : 5.39503980 BTCⁱⁱⁱ
• gracious donations to shareholders : 23.23986348 BTC^iv

Expenditure : 7.9798355 BTC, of which :

• referrals paid : 0.74983555 BTC^v
• house bets made : 7.23000000 BTC

Profit : 50.1472201 BTC to be distributed as dividends.

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Miscellaneous

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Nice month. Best of luck to all.

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1. Up 36%, 19%, 211%, 60% respectively. The huge increase in BTC inflow reflects in small part the longer month (31 days in March vs 28 days in February) and in large part successful marketing, competent management and increased market presence of BitBet.

   Note that this figure does not include any of the ~1800 BTC part of the large March BFL bet. While many seem to believe that strengthening of BTC in fiat terms will bring a lowering of wagers the converse seems to be true here. Graphs :

   [↩]

2. 2,649.21492883 BTC total pool resolved this month. [↩]
3. 7.77000000 BTC worth of house bets were resolved in the current month, putting the house's 5.39503980 BTC well above even. [↩]
4. As per the FAQ, BTC sent to expired addresses are not returned but distributed as dividends.

   In rare cases this would represent a first bet sent to a betting address later than 72 hours after its creation (hasn't happened yet). In most cases this represents BTC which was sent after the event, in an attempt to leech from the betting pool, only to have the bet closed before the transaction confirms (thus no refund).

   For instance a good chunk of this month's generous donation comes from somebody who tried to bet on BTC/USD rate being over 50 after it in fact crossed, and carefully not including a mining fee in his transaction (why pay the miners, right ?) which ensured his transaction came through about six hours after the bet was closed. His altruist generosity is muchly appreciated. On behalf of all the shareholders, plus the bettors you thought you were smarter than, plus the world in general : thank you. [↩]

5. Certainly the month's largest percentual increase is the referrals paid sum, up 300% from last month. Very nice, keep it coming, we want to see 1k BTC+ on this line. [↩]