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Last Update: Sep. 23, 2019

Bustabit Review

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Site Details

  • Website:www.bustabit.com
  • License:N/A
  • Software:Proprietary
  • Products:Forex
  • Deposit Options:Bitcoin
  • Withdrawal Options:Bitcoin
  • Support Options:Chat, Email
  • Platforms:Windows, Mac, Mobile
  • Minimum Deposit:$0.01
  • Bonus Code:N/A
  • Affiliate Program:N/A
  • Related:Moon3D

Bustabit

1 Star2 Stars3 Stars4 Stars5 Stars (5 votes, average: 4.40 out of 5)
www.bustabit.com

NO DEPOSIT BONUS

Likes Pros
  • - You Can Bet On The House
  • - Social Chatbox Offered
  • - Simplistic & Responsive Design
  • - Player Tipping Functionality
  • - Problem Gambling Resources
LikesCons
  • - Limited To Just Bitcoin

  • image Bitcoin Friendly: Yes
  • image United States Accepted: Yes

Bustabit Review

Launched in 2014, Bustabit is the original cryptocurrency crash gambling site that allows players to use Bitcoin to put their HODLing skills to the test. Similar sites include Moon3D and EtherCrash.

How It Works

To play at Bustabit, all you’ll need is a positive account balance. To start, select the amount of “bits” you’d like to bet, as well as an automatic cash out multiplier, then click the big, orange “Bet” button. Watch the multiplier increase from 1.00x upwards. If you’re feeling doubtful, you can always cash out your bet before your set up cash out limit by pressing the ‘Cash Out’ button.

Winning bets get multiplied by their respective multiplier, but be warned, the multiplier could crash at any random moment, so if you do not cash out before the bust, you’ll lose your entire bet.

There is no limit to how high the multiplier can go. However, if during a game the house is facing a net loss of 1.125% of the bankroll or greater, the server will automatically scale down all players’ winnings proportionately. The current maximum profit per round is displayed at the top of the game.

Do you take the conservative route and cash out at 1.1x your original bet, or do you chase the 100,000x multiplier? Players looking for a quick 2.00x multiplier double up will be excited to learn that it only takes 10 seconds to double your investment.

Auto Betting

Players at Bustabit are also given the option to bet automatically via scripts. There are a handful of preset scripts including Flat Bet, Sniper, Martingale, Payout Martingale, and Narrator.

The Flat Bet script simply auto wagers your specified amount, along with a specified pay out multiplier. Sniper allows users to follow the bets of another specified user. Martingale gives users the ability to double their investment after each loss. Payout Martingale lets players double their bet after each win. Narrator places bets according to popular phrases and commands used in the chat box.

Security & Fairness

The bust point for each round at Bustabit is randomly generated by a hash chain whose seed itself was randomly generated. Once created, the hash chain and the crash points cannot be tampered with by anyone.

You can verify that each random bust point belongs to the Bustabit hash chain by inputting any game hash here. For more information on the validity of each game, check out the Bustabit v2 Seeding Event thread on BitcoinTalk.

Regarding security, if you happen to find a bug in the Bustabit website, players are encouraged to contact site administrators immediately. Bustabit will offer you a payment proportional to the severity of the bug, paid in Bitcoin. You can report any bugs you find using Bustabit’s support form.

House Edge

Bustabit has a house edge of 1.0%. The expected return of each wager is displayed below the “Bet” button under “Win Chance”.

Internet Lag

Since Bustabit is a real-time, networked game (a game that your client talks to over the internet), there is a delay between the time that you click the cash out button and the time that the server receives your cash out event.

The farther you are from the server and the worse your internet connection is, then the longer it takes for your events to reach the Bustabit game server. Under perfect circumstances, your message can travel to the server at the speed of light, but it still takes light 134 milliseconds to travel around the world.

The best tool against network lag is to use the auto cash out feature. Since your auto cash out is sent to the server before the game starts, the server can cash you out regardless of lag.

For example, if you are on a bad connection and you want to cash out at 2x, then we recommend setting your auto cash out to 2x instead of relying on your client to send the manual cash out button-press in time.

Disconnect Policy

If Bustabit detects that you have disconnected from an in-progress game, the site will attempt to cash you out. Bustabit highly recommends using the auto cash out safety feature to set a maximum multiplier.

Since your auto cash out is sent to the server, it works even if your client has completely disconnected. It is the most reliable way to avoid loss on an unreliable internet connection.

Fraud

Fraud, collusion, fixing or any other actions which can be considered unlawful are strictly forbidden at Bustabit. In the event such activities are taking place, Bustabit reserves the right to close your account and invalidate any betting.

Money Laundering

Bustabit may report any suspicious transaction to the relevant authorities in order to prevent money laundering. Members shall report all suspicious activities related to Games or Services he or she may observe to Bustabit. In accordance with the Prevention of Money Laundering Act, Bustabit may suspend an account and withhold funds.

Regulatory License

There is no mention of a regulatory license found anywhere on Bustabit’s official website.

Customer Service

There are a handful of support channels available to players at Bustabit including support tickets, BitcoinTalk, Twitter, or by using the chat box located directly on the site. The in-site chat box is the fastest customer service resource, but if you opt to open a support ticket, simply click the “Support” tab under the “User” section of the website.

Banking

Bustabit is only equipped to accept Bitcoin. Any other currencies (such as Bitcoin Cash) sent to your deposit address will not be credited to your account and cannot be returned to you. As such, all player balances are denominated in Bitcoin, called bits. A bit is a millionth of a bitcoin (100 satoshis).

Deposits

Bustabit instantly credit accounts after a single confirmation from the network. Deposit addresses will continue to work indefinitely. All payments to these addresses will be automatically credited to your account.

Old deposit addresses will continue to work indefinitely. All payments to these addresses will be automatically credited to your account. However, to protect your privacy you should avoid using the same deposit address more than once.

Please double check that you are sending the right tokens to your deposit account. If you send the wrong tokens to the wrong deposit address, those tokens could be lost forever, and Bustabit will not be able to provide any help in retrieving them.

There is a very small fee that needs to be paid for each deposit you make. This fee is not immediately charged, but exists “unpaid” until you make a withdrawal or transfer.

The rationale behind this fee is because in Bitcoin to receive a transaction there is a small processing cost (basically the cost to send or consolidate the output). This cost is generally pretty minor and most services generally instead bake it into the withdrawal fee. However by separating out as it’s own fee, Bustabit is able to accurately model true costs, and offer the most competitive fees possible.

For instance, a user who makes 100 small deposits (e.g. from faucets) and then withdraws it, will need to pay the associated fee that represents processing that, and it is not passed on to typical users.

If you don’t want to wait for your deposit to be confirmed, a precredit option is available for a 1% fee. Not all deposits are eligible to be precredited and your precredited balance cannot be withdrawn, tipped or invested until your deposit confirms.

Withdrawals

Part of your balance may not be withdrawable if you have unconfirmed precredited deposits or are participating in the current game. As such, only choose a non-immediate withdrawal if you are prepared to wait at least 24 hours.

Your withdrawal will be sent from the Bustabit hot wallet, so do not withdraw to any site that uses the sending address, or returns to sender, because any returns may probably be credited to a different player.

For maximal privacy, make sure to use a Segwit enabled address (should start with 3) and use a fresh address for each receive.

Bankroll

Players at Bustabit can bet on the house (i.e. become bankrollers), and their bet is added to the bankroll such that they win when the house wins and they lose when the house loses.

The bankroll itself is the pool of money that the house uses to pay out winners that bet using the Bustabit multiplier. The max profit that players can win from a round of the game is determined by the size of the bankroll. The larger the bankroll, the more players can win.

Each player can only win 0.75 % of the bankroll per round. Each round can only win 1.125 % of the bankroll. Every time a player makes a bet, 25 % of the 1 % house edge is awarded to the house as commission. The rest of the house edge is awarded to bankrollers.

Every time you bet on the house, 2 % of your bet is paid out to the other bankrollers according to their stake in the bankroll. Put another way, every time somebody else bets on the house, you are awarded a portion of their 2 % dilution fee.

For example, if you bet 1 BTC on the house, then 2 % (0.02 BTC) of your house bet is spread out among the other bankrollers, and the remaining 0.98 BTC is added to your stake.

To capitalize on the dilution fee system, you will want to bet as much as you can on the house as early as possible. As you maximize your stake, you maximize your claim on future dilution fees.

Bonuses & Promotions

When Bustabit was sold in February 0f 2018,  both instant busts at 0.00x and the player finish bonus were removed. In the site’s BitcoinTalk thread, site owner “devans” had this to say about bonuses on Bustabit: “Although the bonus was one of bustabit’s most interesting features and I am sad to see it go, our experience has shown that most players didn’t consider the bonus an important part of the game. Consequently only a handful of players benefited from the bonus at the expense of all other players that ignored it.”

“Despite the house edge being increased in v2, the majority of players are likely better off in terms of expected value thanks to the removal of the bonus system.”

Supported Devices

Bustabit’s sleek user interface is simple, yet effective when opened from any laptop, desktop computer, or mobile device – There is no client required for users to download and the in-browser software used for the betting platform functions seamlessly without lagging.

Disputes & Complaints

Moon3D License Controversy (3/29/19)

Bustabit claims that the creators of Moon3D violated the terms of Bustabit’s open source license and should not be considered trustworthy.

In a BitcoinTalk forum post, a Bustabit employee states that Moon3D’s “front end code shows remarkable similarities to Bustabit’s code, e.g. the rendering of the graph and the WebSocket protocol.”

The poster also goes on to say that “large parts of your FAQ were straight up copy and pasted from Bustabit.com. Since then you’ve changed some words to obfuscate it a little but the plagiarism is still evident”, as well as, “at its launch, Moon3D.io was undeniably pirating Bustabit’s v1 code. You have admitted this in private.”

In response, a representative from Moon3D replied with, “I think this is exactly the point, we don’t believe we directly copied the BaB code at all. As a matter of fact, we took a lot of painstaking effort redesigning experience beyond the usual v1 clones and upgrading outdated packages. A lot of the changes we made are not only visually obvious, but also changes to the core stack and game functionality.
”

The violation even landed Moon3D in the Bustabit’s License.txt file, a page that lists sites that have either purchased a non-distributable copy of the previous version of Bustabit’s source code, sites that are unauthorized to use the Bustabit name and/or are making false representations about their relationship to Bustabit, and of course sites that are violating the terms of Bustabit’s open source license and should not be considered trustworthy.

To date, GamblingSiteFinder.com has not received any complaints related to Bustabit or any of it’s related sites. If you have any problems or concerns regarding Bustabit, please send an email to hello@gamblingsitefinder.com with the subject line “Bustabit Complaint” and we will happily assist you.

Responsible Gambling

For millions of people, gaming is a form of entertainment, but for some individuals who may have a gambling problem, it can be very difficult to stay away. Bustabit acknowledges compulsive gambling behavior and even provides a link to GambleAware and Gamblers Anonymous in their FAQ under the Gambling Addiction sub-topic. You can read more about Bustabit’s commitment to responsible gambling here.

Responsible gambling is a very serious topic and is actually one of the first factors we investigate when reviewing online gambling sites. We at GamblingSiteFinder.com advise everyone to proceed with caution at any online gambling site that does not have this information readily available to all customers. For more information, please read this article on problem gambling.

History & Background

Launched in 2014, Bustabit is the original cryptocurrency crash betting site that allows players to use Bitcoin to put their HODLing skills to the test. Similar sites include Moon3D and EtherCrash.

Restricted Countries

There is no mention of restricted countries anywhere on the official Bustabit website.

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