BitBet (S.BBET) September 2014 Statement

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Operational results

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Received 78 new propositions, of which accepted 15, rejected 63.

Total bets in worth 1809.67706903 BTCⁱ in 480 bets.ⁱⁱ

Revenue : 5.45262023 BTC, of which :

• bets resolved : 2.77082899ⁱⁱⁱ
• fees from refunds : 0.03183420 BTC
• advertising : 0.1 BTC^iv
• house bets won : 2.54995704 BTC^v
• gracious donations to shareholders : 0.0 BTC^vi

Expenditure : 2.34442698 BTC, of which :

• referrals paid : 0.74442698 BTC
• house bets made : 1.60000000 BTC
• interest : waived.

Profit : 3.10819325 BTC.

Hallelujah! This takes care of the remaining 1.9141942 BTC in arrears, leaving 1.19399905 BTC to be paid out as dividends this month, and 100% of realised profit to be paid out in the coming months. The relief is palpable.

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Miscellaneous

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I. In an effort to cut down on proposition spam and encourage contributors to put some thought into the propositions they contribute, we're introducing a one bitcent minimum for all new propositions. This shouldn't be a significant barrier to entry for legitimate bettors, while it should make it unlikely for anyone to waste valuable mod time on nonsense.

II. For his excellent aftermarket contributions Mike Cirello has received 10`000 S.BBET shares. (As a private gift from the managing partners, not through share issuance). Congrats and keep going!

III. We're adjusting the affiliate commission going forward from 100% of the rake (1% of the bets made) to 50% of the rake (0.5% of the bets made).

IV. As previously announced, I have released the 10% of shares held into the managing partners' accounts. The fixed price 30% is also going to be released back into the accounts of the managing partners later on. Thus the longest IPO in the history of Bitcoin is coming to an end, two years later, through administrative measures.

V. As the #bitcoin-assets deeds bot is functional, this as well as all other MPEx reports will also be published as signed statements on that system.

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1. Juicy. The main contributor is someone picking up on the excellent opportunity afforded by the Berkshire bet. That's one to watch. [↩]
2. [↩]
3. 277.08272696 BTC total pool resolved this month. [↩]
4. BitBet has moved back to the original model, after Ven's untimely demise. [↩]
5. 3.30000000 BTC worth of house bets were resolved in the current month, making this 2.5 to .4 perhaps the best handicapper performance in the two years' worth of BitBet history. We're getting there :p [↩]
6. Well done, now let's try and keep it this way, hm ? [↩]