FAQ

Is there really no house edge?
We offer Raffle games of chance where players compete against each other and not the house (casino). The raffles are truly zero-sum, i.e. the long-term expected value is zero, contrary to the expected loss in all regular casino games (roulette, craps, slots, etc). In addition, there are no hidden costs, and we charge no commission on deposits and withdrawals.

We also offer Wheel of Fortune and Dice games, which do have house edge. The house edge on the Wheel of Fortune game is 3.125% and the house edge of our Dice game is 1%.

Raffles

Can I trust you?
Our games are provably fair. When a game is created, we generate a random nonce and publish its SHA-1 hash. When this game is complete (all bets are made), we wait for the next Bitcoin block, and then concatenate its hash with the nonce's plaintext and use this value to determine the winner. This approach lets you to ensure that the Peerbet operator cannot possibly change the outcome of the game before it completes, or even to know its results ahead of time.
How long must I wait until the results of the game will be known?
To determine the winner we need to wait for the next Bitcoin block. On average, Bitcoin blocks are generated every ten minutes.
What is instant mode?
In the instant mode results of the game will be known right after the last bet was made without waiting for the next Bitcoin block. However, in this mode it is impossible for us to prove that we have no possibility to know outcome of the game before it completes so enable it only if you trust Peerbet.
Can I get a refund for the tickets?
You can get full refund for the purchased tickets only if no one has bought tickets after you.
What happens if the game expires before all tickets are sold?
All participants will receive a full refund for the purchased tickets and the game will be removed from the system.

Customers

What currencies do you accept?
We accept Bitcoins, Litecoins, Namecoins, Peercoins, Primecoins, Feathercoins, Anoncoins & Dogecoins.
What measures do you take to protect Peerbet from hackers?
We store all our funds off-site on an encrypted HDD and have a backup copy. Every 24 hours we perform a backup of the database. Even if the server is hacked, no funds will be lost.
How long does it take for funds to be credited?
Funds are credited after one to three confirmations is received.
How long does it take for withdrawals to be processed?
You can order an instant payment and receive funds right now (0.0005 BTC miners fee apply). Free withdrawals are being processed manually and payments are sent once a day in order to minimize transaction fees.