CryptoBounty is a "social-based betting game."
Unlike traditional online gaming software, the winers and losers are not chosen by an pseudo-random number generator or a provably fair system. CryptoBounty's main feature is what is called a 'social-based betting game'. As a result, the game has been wildly successful between people that prefer to take their gambling odds in their own hands.
CryptoBounty is among the largest Bitcoin gambling websites, being launched in Spring 2013, and the unique idea behind was replicated by more casinos.
Each bet a user makes is stored in a database and associated with an username and a Bitcoin address. Each player once a bet is successfully introduced into the system is given a 24 hour period in which he can wait or promote his bet in order for another player to bet on his bet. Once another player comes in and bets, the previous player gets the new player's betted money minus the house fee.
This simple system has attracted gamblers for it's large wins.
Due to the fact that CryptoBounty is considered a "social-based betting game" it is impossible to determine the odds of a single bet, each player determines his own odds.
- Cryptobounty.com website