Bitcoin-Betting DeFi with Pinny odds and totally anonymous.

[raiders72001]

Appreciate the reply again. I don't understand you saying you don't mess with rBTC. It basically says in an info box when i try to deposit with BTC that my BTC will be bridged to rBTC so it can be used in smart contracts.

Think I need to do more research as I think I have something wrong in my understanding. I basically thought:

1. When you deposit BTC, your funds are bridged over to rBTC.
2. This is supposedly 1:1
3. However, as anyone who uses crypto knows, bridging is not cheap.
4. Moreover, rBTC regularly trades at 2-3 percent less than BTC.
5. This is no problem depositing as you are giving the more valuable token and getting 1:1.
6. This becomes a problem on withdrawals.

Example Rbtc/BTC price is 0.99.

I deposit 1 BTC. Site says it bridges me to rBTC and i receive 1 rBTC in my bitcoin-betting account. (if true, some party benefitted by 0.01 BTC here - minus fees)

I then make 1000 bets, get lucky and have a 2 rBTC balance I wish to withdraw. (Exchange rate still same)
Bitcoin betting seems to imply I will get 2 BTC returned to me if I withdraw. But the exchange rate is 0.99 and I should receive 1.98 BTC.

Something in the above is wrong. Apologies for my ignorance.

You are making a really good post here since I'm sure all want to know especially if it's a big amount. I went and asked Bitcoin-Betting to confirm. As far as the players are concerned, we are always getting the BTC price so we don't need to worry about conversions. If we deposit 1 BTC, 1 BTC shows in the account. If we withdraw that 1 BTC, we receive 1 BTC.

There is a .1 mBTC charge for BTC withdrawals. If you withdraw in ETH, then it's gas.