Topic: [SHUTTING DOWN] [DiceBitco.in | BE THE BANK ! | 1% House Edge] - page 90. (Read 102257 times)

Actually there is:

In BD there is no weekly commission.
They took 10% only when investor divests.
But yeah it is same thing I guess.

I forgot to mention commission, you're right.

Everything I wrote is true, BUT at the end of each week the site takes 10% of any new net investment profits from you.

As I understand it, DB works exactly the same as JD in that respect - if you lose one week and win it back the next week, you don't pay any commission on the part that recovered your losses, etc.

Nothing wrong with those maths.
But when investor divest some of his profit 10% of it will go to site owner.
And JD took 10% too so there is no difference.

if dicebitco.in works similar like just-dice I think your math is wrong, because there is a 10 % fee on investment profits.
(probably in order to pay for hosting, security and so on)

You're a little confused I think.

First off, the "house edge" isn't an amount of coins, and so it doesn't "go" anywhere.

Both Just-Dice and DiceBitco.in have a 1% house edge. That means that the payouts are set such that in the very long run the site expects to win 1% of everything the players bet. Basically the percentage chance of winning a bet multiplied by the payout multiplier is 99.

The 2x bet has a 49.5% chance of winning (2 times 49.5 is 99)
The 10x bet has a 9.9% chance of winning (10 times 9.9 is 99)
The 1.1x bet has a 90% chance of winning (1.1 times 90 is 99)

And so on.

So the chances of winning are 1% smaller than "they should be" - a game with no house edge would give you a 50% chance of winning a bet to double your money, not a 49.5% chance.

Because of that, the house expects to make a profit over time. Sometimes they'll win more than 1% of the amount bet, sometimes they'll win less (or even lose).

Any profits they do make get split up between all the people providing the bankroll ("the investors") in proportion to the size of their investment.

For example, the owners of the site have put 200 BTC into the bankroll, I have put 60 BTC in, and a whole bunch of other people have put in other amounts. Suppose the entire bankroll is 1000 BTC (to make the math easy).

My 60 BTC is then exactly 6% of the bankroll, and the owners' 200 BTC is 20% of it.

Then, if someone deposits 1 BTC onto the site, bets, and loses it, that 1 BTC gets split up to all the investors.

I get 6% of it - that's 0.06 BTC. The owners get 20% of it, or 0.2 BTC, and so on.

If someone else deposits 1 BTC and wins 2 BTC, that 2 BTC is paid by all the investors. I pay 6% of it (that's 0.12 BTC) and so on.

Does that make sense now?

Is there something in particular on https://dicebitco.in/about/investments that didn't make sense to you? If so, what bit?

Also, take a look on Just-Dice.com - click the 'invest' tab and read the explanation there. Is that clearer? Is there a part that makes it clear to you that you were missing before?

It's the same model as Just-dice from what I can see. I haven't invested yet myself, I want to see the site bed in for a while and see how it goes before investing. So far so good..

House edge isn't fee or something like that.
It means there with 2x multiplier with 0% house edge you would have 50% winning possibility and casino would have 50% too but with 1% house edge you have 49.5% possibility to win and casino has more than 50%

Okies Dooglus ... can u please tell me how it was handled in Just-Dice or done in DiceBitcoin ?

When an user wins where goes the house edge ? Does it go to the site owner or to the bankroll ?

I dint get the explanation here => https://dicebitco.in/about/investments

Oh, for some reason I was thinking it was 100. I probably won't make 400 posts per month since I'm only at 5k posts after 3 years.

I've not changed my posting style since signing up for the signature campaign, and won't. I can't imagine that a posting style that was acceptable for the last 3 years suddenly becomes unacceptable because I'm getting paid to advertise a website - what sense would that make?

I currently have 60 BTC invested in DiceBitco.in.  I use their sig because the one I was using before (Just-Dice) had outlived its usefulness, and I like DiceBitco.in and feel they should get more attention.

People keep asking where to play and invest now that JD has gone, and I didn't know what to tell them. I was having a hard time finding a decent replacement until I discovered DiceBitco.in, and so now I link to them in my signature.

Yep... DiceBitcoin Sig campaign pays for 400 posts per month. But that really does not matter to Dooglus as I understand. Even he is not paid it does not matter to him. I think he has more coins from Just-Dice than the current bankroll of DiceBitcoin. He is probably wearing the sig because he has invested a lot in DiceBitcoin.

I believe that the signature campaign pays for 400 posts per month, if I am not mistaken.

Nice site.  Ever since the closure of Just-Dice I've been looking for a place to invest.

Time between those posts is about 1 minute...
It sure is allowed without paid sig but it looks like post padding if you have paid sig and mods ban/delete post more easily if user uses paid sig.
But if it isn't post padding I'll start to do it too. Or not coz I'm not well known/respected so I'm going to get banned if I do so...

When I see a message I want to reply to, I reply to it.

When I see another, I reply to that, too.

Nobody ever had a problem with it before. I'm sorry if it offends you.

I use 'edit' if I want to change something in an existing post, but for separate ideas I use separate posts, and doubt that is anywhere close to being a bannable offence for anyone.

Edit (you're welcome):

I expect I'll easily exceed the 100 posts per month that the sig campaign pays for, so my "post padding" behaviour isn't gaining me any extra bit-dust.

Yes, the site was down around 35 BTC before my losing streak.


You could invest just before I lose 27 BTC, and divest right after. You'd make a nice profit. You just need to be able to predict when it's going to happen.
 
Ruru did it, only in reverse - he divested shortly before I lost.