Introducing our new provably fair betting game: Rollercoaster!
What is Rollercoaster?
Rollercoaster is an exciting betting game unique to Rollbit where you can wager on whether the randomly generated price will go up or down - think of it as simulated trading but with much higher volatility.
Rollercoaster is also similar to the popular Crash games. The price moves up and down (hence the name Rollercoaster) and you can bet on where you think the price will fluctuate to next. If you bet correctly, your profit will be based on how far the price moves in your favour and the payout multiplier you set.
Unlike traditional Crash games, each round lasts for 24 hours and you can bet on the simulated price going up OR down! The bust event is also different. Depending on whether you bet on the price going up or down, your bet can bust if the price goes too far in the opposite direction of your bet.
Some more details about Rollercoaster:
- The house edge is 2.5%, while the Return To Player (RTP) percentage is 97.5%,
- The maximum position size is $100,000, and
- There's a fixed fee of 5% on all profitable bets.
How to Play Rollercoaster🎢
To get started, navigate to the sidebar and select ‘Trading’, then click on ‘Rollercoaster’:
Rollercoaster is similar to trading cryptocurrency: you but on whether the randomly generated number will go up or down, but the simulated price that fluctuates is ten times more volatile than bitcoin or ether.
The price always starts at 1,000 and resets every 24 hours at 00:00 UTC. All existing bets will be automatically closed before a round resets. The time of the price reset is clearly indicated on the chart:
Placing a Bet
Let's assume you want to beta that the price will go up. Make sure the "Up" button is highlighted (it will be green), then enter your wager and payout multiplier as shown below:
Select the direction you want to bet on, enter your wager and finally your payout multiplier. You can also use the slider to select a multiplier of your choice. Notice the ‘Bust Price’ to the right of the Payout Multiplier box, which is the price at which the wager is lost.
The bust price in this example is 1,277.37. The bust price is the price at which the entire wager will be lost. If the Rollercoaster price hits 1,277.37, then the wager of $100 for the bet will be lost. However, if the price stays above the level, then you are still in the game.
You can also edit the payout multiplier by using the slider bar: you can choose between x1, which is safe, all the way to x1000 which is wild. The greater the payout multiplier, the closer the bust price will be to your entry price for your bet.
For example, when using a payout multiplier of x5 instead of x20, the bust price is much further away from the entry price at 1,408.34, giving us more breathing room as well as a lower chance of going bust:
You estimate the profit or loss for any wager axmount, payout multiplier and direction using the ROI calculator, as shown below:
Once you are happy with your bet, click on the ‘Place Bet’ button, which will be green if you selected ‘Up’, or red if you selected ‘Down’.
Once you’ve clicked on ‘Place Bet’, you’ll get a notification confirming your bet was placed at the bottom left-hand side of the screen and your bet will be displayed beneath ‘Active Bets’:
The ‘Active Bets’ tab will show the direction of your bet (Up or Down), the entry price, the wager amount, the bust price, the multiplier, and the P&L (profit and loss):
The bar next to the bust price indicates how far you are from going bust. Note: funding is not applicable to Rollercoaster bets!
Managing Your Risk by Locking-in Profits or Losses 🔒
You can cash out your bet at a certain price to lock-in your profits or limit your losses. Before placing the bet, you can change the wager from 'Manual' to 'Auto'. You can then choose the price you want to cash out at. Alternatively, you can select a certain dollar amount instead.
For example, you could opt to take profit once you’ve made $100 on your wager or to cut your losses if you're down $20:
You can also add a take profit or stop loss after you've placed a bet by clicking on the two cogs in the 'Active Bets' tab:
In the next section, we'll show you how to close a Rollercoaster bet.
Closing a Bet
You can take any profits from your open bets by clicking on the 'Cash Out' either on the chart or in the 'Active Bets' tab. The eye icon will display information about your bet when you click on it and also has a 'Cash Out' button. When you click on 'Cash Out', you'll receive a notification which appears on the bottom left-hand side:
Once you cash out or you go bust, the bet will be shown under the ‘Closed Bets’ tab:
Sharing Your Bets and The Rollercoaster Leaderboard
The 'Public Bets' tab shows all bets made by Rollbit users. Unless you have activated a private profile, your username will be shown alongside your bets.
You can also share a link for your bet to share on social media and others can watch it in real time:
If you generate enough profit from your bet, it will show under the 'Leaderboard' tab along with your username (unless you have a private profile). You can also filter the leaderboard to show all Rollercoaster bets by switching from 'All Instruments' to 'Rollercoaster':
Rollercoaster is Provably Fair
Just like our X-Roulette game, Rollercoaster is also provably fair!
Rollercoaster is a provably fair game so you can be sure that the game results generated by algorithm are transparent and fair. All the prices for each 24-hour round are predetermined using a randomly drawn seed, which is revealed at 00:00 UTC at the end of each round.
Anyone can verify the algorithm used with the published seed and confirm for themselves that Rollbit did not alter any prices after betting on the round has begun. It’s impossible for Rollbit to change the prices based on the bets placed by users.Verify the results of Rollercoaster for yourself here!
Subscribe to our blog as we'll release an article on how to verify that the trading prices are randomly generated for yourself. We hope you enjoy our new provably fair betting game! Please reach out to us on Discord or via Twitter if you have any questions!
-The Rollbit Team