Betcoin Poker closed Christmas Day, much to the dismay of its patrons. The online Cryptocurrency poker place is opening to distribute funds for the Bad Beat Jackpot. Betcoin is among the oldest cryptocurrency gaming websites. The announcement of its closure was not a happy one. In fact, there was an uproar among poker players.
The new owners did not feel the poker room was making money and that it would not survive with the business being “chopped” into various pieces. In particular, branding issues were mentioned as a reason the poker room was not a success.
Poker Forum Details
Betcoin Poker has issues with forums, where users talk on and on about their losses and failures at the tablets. The Bad Beat Jackpot was part of the discussions in which poker customers were highly unsatisfied with the BBJ not being available.
Betcoin announced to former players that they would divide the Bad Beat Jackpot among the players, who invested money in the site. However, Betcoin then puts a new notice up saying it was impossible to return investor funds due to accuracy issues and transparency. It would be a violation of the blockchain morals to try to make a fair distribution of the BBJ.
Reopening for Fairness
Betcoin Poker put the third notice up saying they would need to reopen the poker room to keep to the laws of blockchain and ensure that the players are not out on their investment. Betcoin Poker opened the weekend of January 27-28 to provide players with the jackpot.
There are specific rules, where a player who wants to win the jackpot will need to have a losing hand of four jacks or higher. Seventy percent of the money goes to the loser’s hand, twenty percent to the winner, and the rest of the players at the table.
Betcoin said their strategy is to ensure the winning of the jackpot is transparent and accurate.
There are plenty of players who feel this new move is yet another mistake that Betcoin Poker is making. There is also the question of whether the room will remain open after the jackpot is won. The assumption is that it will close because the pot is gone, distributed fairly among players. But, only the next several weeks will be able to tell players if this is the end of Betcoin or if they will need to open again due to another mistake in money distribution.