Pages:
Author

Topic: EveryDice.com | 0.99% Edge - Instant Cashout - Invest - Referral - Mobile - Fair - page 27. (Read 72089 times)

hero member
Activity: 532
Merit: 500

Whether or not 1dice1 is cheating or playing for the house, people are going to worry that something's not right.  Some of them will divest, causing your bankroll to dwindle and making it increasingly difficult for the site to ever recover its losses.

This. The only truth in this story.
legendary
Activity: 2940
Merit: 1333
the loses of 1DiCe1 doesn't affect any future event. The house edge is still 0.99% and variance is still there.

I think you mean his wins, and I think they do affect the future; when the house loses 75% (or whatever it is now) of everyone's investment there's a chance that a large percentage of investors will lose faith and pull out their remaining coins.

Whether or not 1dice1 is cheating or playing for the house, people are going to worry that something's not right.  Some of them will divest, causing your bankroll to dwindle and making it increasingly difficult for the site to ever recover its losses.
member
Activity: 98
Merit: 10
Everydice owner took pains to create that superlucky 1Dice player, instead of just taking all the money and run. Apparently he still hopes to attract more idiots to invest in his site.

Careful accusing people of scamming without proof.

Is there a bet history available for the payer so we can see just how lucky he has been?

I don't think that is smart thing to do while our site growing pretty fast.
Yes, bet history is available by clicking the bet number on the list of bets. But I think what you want to see is the summary of bets made by 1DiCe1 right? We can provide that too dooglus.

The problem with 1Dice1 winning so big is that he is ED's biggest player (by several orders of magnitude). If he elects to stop betting the big BTC on the site, it will take a long time for ED to earn its losses back (unless another heavy hitter or two begin playing).

That's exactly what happened at Just-Dice.  nakowa hit us hard in the middle of July and again at the end of September, as you can see in this chart:



We were fortunate enough to recover from nakowa's beating within about a month, due to a few other large players suffering massive losses, but we lost a lot of investors due to nakowa.  He replaced them for a while, investing his winnings in the bankroll, so he ended up winning twice: once from betting, and once from investing his winnings, profiting both from the collapse of JD's profit and from the subsequent recovery.

Note also that we're still over 35,000 BTC below expected profit, and expect to stay there indefinitely.  I calculated recently that if we get average luck from now on, and continue with the same level of betting we've seen so far, it will take about 100 years for the site profit to reach 0.99%.  And your 1dice player was much luckier than nakowa I think.

I think it would also depend on how much wagered per day the site got. It will be getting smaller when the Bitcoin price is keep on rising, but getting bigger if gambler start to see the opportunity of gambling using Bitcoin.

by popular petition here are my stats, and im not site admin lol




Congratulations 1Dice1 it is an incredible run; you will probably come back and play so the investors will have a chance to win back some of their losses

I believe in the long run the house will always win, yes. But the loses of 1DiCe1 doesn't affect any future event. The house edge is still 0.99% and variance is still there.
legendary
Activity: 2562
Merit: 1064
by popular petition here are my stats, and im not site admin lol




great stats, I wish I will have 1 day stats like this.

congrats.
legendary
Activity: 1918
Merit: 1018
by popular petition here are my stats, and im not site admin lol




Congratulations 1Dice1 it is an incredible run; you will probably come back and play so the investors will have a chance to win back some of their losses
legendary
Activity: 1918
Merit: 1018
Wow I find it strange to be so lucky to be honest!
legendary
Activity: 2940
Merit: 1333
The problem with 1Dice1 winning so big is that he is ED's biggest player (by several orders of magnitude). If he elects to stop betting the big BTC on the site, it will take a long time for ED to earn its losses back (unless another heavy hitter or two begin playing).

That's exactly what happened at Just-Dice.  nakowa hit us hard in the middle of July and again at the end of September, as you can see in this chart:



We were fortunate enough to recover from nakowa's beating within about a month, due to a few other large players suffering massive losses, but we lost a lot of investors due to nakowa.  He replaced them for a while, investing his winnings in the bankroll, so he ended up winning twice: once from betting, and once from investing his winnings, profiting both from the collapse of JD's profit and from the subsequent recovery.

Note also that we're still over 35,000 BTC below expected profit, and expect to stay there indefinitely.  I calculated recently that if we get average luck from now on, and continue with the same level of betting we've seen so far, it will take about 100 years for the site profit to reach 0.99%.  And your 1dice player was much luckier than nakowa I think.
hero member
Activity: 546
Merit: 500
EOS Auctions
The problem with 1Dice1 winning so big is that he is ED's biggest player (by several orders of magnitude). If he elects to stop betting the big BTC on the site, it will take a long time for ED to earn its losses back (unless another heavy hitter or two begin playing).
legendary
Activity: 2044
Merit: 1115
★777Coin.com★ Fun BTC Casino!
At this point, he can afford to chase a loss of 20 btc with more gambling without breaking a sweat. That would be extremely nerve-racking for anyone else to the point they might not continue. But for him, a small portion of bankroll.
newbie
Activity: 27
Merit: 0
Wondering if there's more art than science in 1DiCe1's daily tote?
hero member
Activity: 546
Merit: 500
EOS Auctions
Everydice owner took pains to create that superlucky 1Dice player, instead of just taking all the money and run. Apparently he still hopes to attract more idiots to invest in his site.

Careful accusing people of scamming without proof.

Is there a bet history available for the payer so we can see just how lucky he has been?
I agree with both of dooglus' points. 1Dice's luck could easily be validated using statistics if a bet history were published. Any chance of seeing that?
hero member
Activity: 588
Merit: 500
Bad day for investors like me, lost some
legendary
Activity: 2940
Merit: 1333
Everydice owner took pains to create that superlucky 1Dice player, instead of just taking all the money and run. Apparently he still hopes to attract more idiots to invest in his site.

Careful accusing people of scamming without proof.

Is there a bet history available for the payer so we can see just how lucky he has been?
sr. member
Activity: 306
Merit: 257
Everydice owner took pains to create that superlucky 1Dice player, instead of just taking all the money and run. Apparently he still hopes to attract more idiots to invest in his site.
hero member
Activity: 868
Merit: 1000
Looks like it is really a very lucky day for 1Dice1 lol.
He just made a dozen of x2 bets and won most of them, bringing the site profit further down to around -63 btc...  Roll Eyes
hero member
Activity: 868
Merit: 1000
...
update 23.05.2014  invested 0.50035372BTC, ~0.1680%. 1DiCe1 raiding ED                  site bankroll 297.81171 & site profit -51.11186 & site wagered 12501.197  Shocked

hang in there guys!

What a day for ED!! Site profit is now down to -53.5 btc Shocked
full member
Activity: 139
Merit: 100
GET IN - Smart Ticket Protocol - Live in market!
26 BTC reduced to 10.79 BTC. This is like me investing 260 and getting reduced to 107 BTC.. That never happened even in the Nakowa days.

I'm pulling out all ties to this site effective immediately.

Best of luck.
member
Activity: 98
Merit: 10
Woah… So much had happened in so little time in EveryDice Smiley

Yesterday ED got 9197 BTC wagered, the amount that we haven’t seen in any dice site since months ago…! At least for a day, EveryDice has become the most active Bitcoin Dice site on earth, huge milestone for ED which just started few months ago Shocked

One of our champion, 1DiCe1 took another mega profit from the site, ~100 BTC after the previous ~50 BTC, congratulations! You always been our loyal player and deserved this win with that much wager! Cheesy

In the other side, while the player won, the investors did suffered significant loss. As a site operator, I always see the investors as part of the site, partners who trusted me through our service and performance. While I feel happy that ED had passed another milestone, honestly I feel sorry for the investors, who might not expect this event. Also thanks for several investors who mailed, support me personally, and even put additional investment to ED (hence the site max win is keep on increasing, even after 1DiCe1 withdraw 50 BTC Smiley ). For all investors, if you want to contact me, you can always contact me through email, currently I’m on mobile and I’m doing my best to check the email and site.

I think it was the dooglas dice site that was attacked or whatever for having a 2% house edge, and everydice is way lower than that.  I actually think it was more along the lines of saying a 2% house edge site could not survive because house edge is so low.  

Just-Dice.com has always had a 1% house edge.

You may be getting confused by one of the following:

1) Erik Vorhees apparently once said that it wouldn't be profitable to run a dice site with an edge lower than 1.9%, which is the edge at SatoshiDice, which he used to own.

2) Just-Dice used to have a maximum profit per bet of 1% of the bankroll.  This was found to be too high, and caused the profit to go negative when we were attacked by a whale.  We lowered it to 0.25%, and then put it up to 0.5% a few days later.

The bottom line is that to be confident of making a profit you need to have your maximum profit be a smaller percentage of your bankroll than the house edge percentage.

Thank you for the insight dooglus. JD has always being our inspiration for dice site and also greatest competitor since the beginning. Quite interesting that both ED and JD encounter similar case because of max win and super whale. I'm still talking the idea of lowering the max win %tage with my team. Some investors also approach me to discuss this. After it is decided, we will come out with new max win calculation.
Pages:
Jump to: