1BTC GIVEAWAY WITH NEW BITDICE GAME - SLOPE

[aniglo]

ok i want try...

[dogedice.me]

But how does this game work?  Is is a simple high low game?  Then why does it have that fancy chart?  More information please in the opening post.

Nope.

There are RISES and FALLS, e.g. Team A and Team B. The chance that each team win is 50%.

You bet on RISES or FALLS if you feel some of them win. That's all about the betting.

The event is the random outcome of rolling a dice by Bitdice server 100 times in a row with the predetermined wager conditions.

These conditions are:
1) Each bet amounts to fixed 1 BTC
2) Four different multipliers (1.5x; 2.0x; 2.5x; 3.0x) used randomly to generate each bet
3) Each bet uses only "Higher than" option.

In the nutshell, the rolling algorithm operates the very same way as you know from BitDice experience and is provably fair. But in addition, the algorithm will add up the results of each subsequent wager, from 1 to 100, by shaping up a slope which could be graphically represented and historically checked for fairness.

The end result of the slope is binary – it either ends up negative aka “FALLS” (100 bets will results in a loss), or positive aka “RISES” (100 bets will results in a profit). Chances are 50/50 since no house edge is employed in the game.

Now, although in theory the chances of both outcomes are 50/50, players are actually able to rip off better payoffs when placing their bets.

Before launching the game, the system will run a book to determine the payout multipliers at which players can secure their payouts. The multipliers will change instantly while the book is being processed with new wagers - so you should expect deviations from the theoretical 50/50 on both sides. Securing your bet at higher multiplier will potentially put you in better payoff position for the game. Presently, maximum payouts are limited to 0.2 BTC but will be subject to change in the future.

There are no hidden fees or commissions we charge players, except for 10% fee embedded into the payout multipliers we take from the amount wagered. This fee is primarily used to cover the winners’ positions.

The game will start itself automatically once the sufficient number of bets is accumulated to ensure that one side of the wager is able to cover the other side wins and vice versa. There is a tentative progress bar indicating the course of the wager accumulation for the active bets. The countdown on the wager button shows the time left for the active bets to reimburse the involved players in case the game fails to start within 30 minutes.

[yoloer808]

I can't see the provably fair explanation. How are the numbers calculated? Where can I verify?


While this information is not published, the game seems sketchy.

[btcdealer.nl]

I can't see the provably fair explanation. How are the numbers calculated? Where can I verify?


While this information is not published, the game seems sketchy.

It's almost the same as Blackjack and dice with seeds is what alex told me. when you hover over the slope id the Hash is displayed.
Count me in for this nice promo participated in 2/2 slopes so im good for now:P

[kolloh]

Thanks for running this contest. This game looks pretty interesting so I am trying it out.

[mocacinno]

awesome nice contest sir ,
i will try  hope wins

[Roshiba]

Nice games
i want to try

[btcdealer.nl]

Nice to also see 0.02 BTC max profit slopes added, i think this will make it alot easier to get those 8 remaining slopes started!
Good luck everyone!

[btcdealer.nl]

I can't see the provably fair explanation. How are the numbers calculated? Where can I verify?


While this information is not published, the game seems sketchy.

This is the bet info i can see on the last finished slope:

[Alvin Fahriza]

I can't see the provably fair explanation. How are the numbers calculated? Where can I verify?


While this information is not published, the game seems sketchy.

This is the bet info i can see on the last finished slope:

im still confused how to play slope :p
but i still want try this contest

[btcdealer.nl]

I can't see the provably fair explanation. How are the numbers calculated? Where can I verify?


While this information is not published, the game seems sketchy.

This is the bet info i can see on the last finished slope:

im still confused how to play slope :p
but i still want try this contest

It's really easy to play, what part are u cofused about?

[dooglus]

The end result of the slope is binary – it either ends up negative aka “FALLS” (100 bets will results in a loss), or positive aka “RISES” (100 bets will results in a profit). Chances are 50/50 since no house edge is employed in the game.

So all the stuff about 100 rolls of 1 BTC is really not important. The game would be effectively the same if it was a single roll wouldn't it? The end result is that it's a 50/50 bet, provably fair.

Now, although in theory the chances of both outcomes are 50/50, players are actually able to rip off better payoffs when placing their bets.

This is the part that isn't clear. Does this work like parimutuel betting (like bitbet.us) where the payout multiplier you get isn't fixed until the betting ends? Or do you get the multiplier you're quoted at the time you place your bet?
 

Securing your bet at higher multiplier will potentially put you in better payoff position for the game.

That makes it sound like it's the latter. So I can wait for the multiplier to go over 2x on one side or the other, bet on it, and be sure of a +EV bet. Is that right?

There are no hidden fees or commissions we charge players, except for 10% fee embedded into the payout multipliers we take from the amount wagered. This fee is primarily used to cover the winners’ positions.

This is the least clear part. You bake a 10% fee into the multipliers? Doesn't that mean there's a 10% house edge? Maybe a worked example would be useful here.

I read somewhere that the house makes some bets of its own too. How does that work? Is the 10% taken only on the first few bets, to cover the house bets? Or on all bets? Basically the description seems incomplete. We need details!

[dogedice.me]

So all the stuff about 100 rolls of 1 BTC is really not important. The game would be effectively the same if it was a single roll wouldn't it? The end result is that it's a 50/50 bet, provably fair.

It's the first step with binary outcome, however we will think out on other variations of probabilities, where the length of the slope will be fully employed.

This is the part that isn't clear. Does this work like parimutuel betting (like bitbet.us) where the payout multiplier you get isn't fixed until the betting ends? Or do you get the multiplier you're quoted at the time you place your bet?

Multiplier is fixed at time of the bet, it will not be affected by other players.
 

That makes it sound like it's the latter. So I can wait for the multiplier to go over 2x on one side or the other, bet on it, and be sure of a +EV bet. Is that right?

Yes, you defenetly should bet when you have +EV, that's the idea of the game

This is the least clear part. You bake a 10% fee into the multipliers? Doesn't that mean there's a 10% house edge? Maybe a worked example would be useful here.

I read somewhere that the house makes some bets of its own too. How does that work? Is the 10% taken only on the first few bets, to cover the house bets? Or on all bets? Basically the description seems incomplete. We need details!

We put initial bets on each side, with fixed 2X multiplier, thus when one of the sides win, we get our initial bets back.

Since many of you misunderstand the difference between the concept of house edge and wager commission, I’ll take this opportunity and try to explain this in more detail.

This game house edge is zero but each wager is taxed with commission. The commission we take cannot be simply translated into the corresponding house edge similar to the one we’ve got in dice gambling.
In the game of dice, the odds of the outcome are slightly biased towards the house and terms of payoffs are linear to the probability of outcome. In slopes, however, the odds of the outcome are strictly 50/50 (i.e. there is no house edge bias involved when the slopes are generated) and terms of payoffs are flexible.  Yet, we have to charge commission to facilitate variable payouts at expense of the losing counterparty … So these are two different things.

Regards,
Alex

[ndnh]

This game house edge is zero but each wager is taxed with commission. The commission we take cannot be simply translated into the corresponding house edge similar to the one we’ve got in dice gambling.
In the game of dice, the odds of the outcome are slightly biased towards the house and terms of payoffs are linear to the probability of outcome. In slopes, however, the odds of the outcome are strictly 50/50 (i.e. there is no house edge bias involved when the slopes are generated) and terms of payoffs are flexible.  Yet, we have to charge commission to facilitate variable payouts at expense of the losing counterparty … So these are two different things.

Regards,
Alex

For a 1BTC bet each by two players on both sides, how much is the commission in absolute amounts?

I am guessing (like dooglus does) that it is 0.2BTC (10% of 2BTC)??

[dooglus]

This is the least clear part. You bake a 10% fee into the multipliers? Doesn't that mean there's a 10% house edge? Maybe a worked example would be useful here.

I read somewhere that the house makes some bets of its own too. How does that work? Is the 10% taken only on the first few bets, to cover the house bets? Or on all bets? Basically the description seems incomplete. We need details!

We put initial bets on each side, with fixed 2X multiplier, thus when one of the sides win, we get our initial bets back.

Since many of you misunderstand the difference between the concept of house edge and wager commission, I’ll take this opportunity and try to explain this in more detail.

This game house edge is zero but each wager is taxed with commission. The commission we take cannot be simply translated into the corresponding house edge similar to the one we’ve got in dice gambling.
In the game of dice, the odds of the outcome are slightly biased towards the house and terms of payoffs are linear to the probability of outcome. In slopes, however, the odds of the outcome are strictly 50/50 (i.e. there is no house edge bias involved when the slopes are generated) and terms of payoffs are flexible.  Yet, we have to charge commission to facilitate variable payouts at expense of the losing counterparty … So these are two different things.

I still don't understand.

Maybe you could walk us through an example, showing the first 2 house bets, and 3 player bets (up, down, up). For each of the 5 bets show the stake, the payout multiplier, how it is calculated, any "commission" that is charged, and why.

For example:

bet 1: house bet 1 BTC on "up" at 2x.
bet 2: house bet 1 BTC on "down" at 2x. this bet effectively 'cancels' bet 1. house risk is exactly zero.
bet 3: player A bets 2 BTC on "up" - this is where I get stuck. nobody bet on "down" that didn't have their bet matched already. so how can you offer any payout at all? even if the payout is only 1.1x, the house is still risking 0.2 BTC if the bet wins