Just-Dice.com : now with added CLAMs : Play or Invest

[dooglus]

Sort of interesting for non US players to be able to withdraw Through Paypal..

Seems to me like that's asking for trouble, offering gambling services with Paypal withdrawal.

It looks like no inputs.io deposits made overnight got through to Just-Dice.  I processed them all manually this morning, and added an exception to the CloudFlare DDoS protection to allow inputs.io through unchallenged.

I've been unable to test it since doing that, since inputs.io seems down at the moment.  Probably they're being DDoSed too.

As for being "MIA", I sleep sometimes.  And to be honest watching the site get abused so thoroughly is more than a little upsetting.

[🏰 TradeFortress 🏰]

Sort of interesting for non US players to be able to withdraw Through Paypal..

Seems to me like that's asking for trouble, offering gambling services with Paypal withdrawal.

It looks like no inputs.io deposits made overnight got through to Just-Dice.  I processed them all manually this morning, and added an exception to the CloudFlare DDoS protection to allow inputs.io through unchallenged.

I've been unable to test it since doing that, since inputs.io seems down at the moment.  Probably they're being DDoSed too.

As for being "MIA", I sleep sometimes.  And to be honest watching the site get abused so thoroughly is more than a little upsetting.

Just tested, they're working. I'll add that to the API documentation.

[cdnbcguy]

We being JD investors. Something must be done about huge Martingale bettors. I recommend lower house limits on consistent doublers.

[🏰 TradeFortress 🏰]

We being JD investors. Something must be done about huge Martingale bettors. I recommend lower house limits on consistent doublers.

We are not being killed by huge martingale bettors, we are being killed by someone who bets 100 BTC on 49.5% 12 times and wins 11.

[gangz]

Pulled my 7.5BTC 3 days ago when the site was up only 4,000 BTC, I came back the next day to see how much JD was up (2,000 BTC) and now today the site is negative -100 BTC.  

We being JD investors. Something must be done about huge Martingale bettors. I recommend lower house limits on consistent doublers.

 

[cdnbcguy]

Pulled my 7.5BTC 3 days ago when the site was up only 4,000 BTC, I came back the next day to see how much JD was up (2,000 BTC) and now today the site is negative -100 BTC.  

We being JD investors. Something must be done about huge Martingale bettors. I recommend lower house limits on consistent doublers.

 

I somehow have invested in the only casino in the world that loses money... 

[Boelens]

Pulled my 7.5BTC 3 days ago when the site was up only 4,000 BTC, I came back the next day to see how much JD was up (2,000 BTC) and now today the site is negative -100 BTC.  

We being JD investors. Something must be done about huge Martingale bettors. I recommend lower house limits on consistent doublers.

 

I somehow have invested in the only casino in the world that loses money... 

Eventually the house edge will kick in.

[cdnbcguy]

In addition to the max profit limit, limit the max bet to 1 / 2,000 of capital - that would be about 15 BTC right now. That's still about $2,000.

[cdnbcguy]

Pulled my 7.5BTC 3 days ago when the site was up only 4,000 BTC, I came back the next day to see how much JD was up (2,000 BTC) and now today the site is negative -100 BTC.  

We being JD investors. Something must be done about huge Martingale bettors. I recommend lower house limits on consistent doublers.

 

I somehow have invested in the only casino in the world that loses money... 

Eventually the house edge will kick in.

Actually I remember reading an article a long time ago that said the way to make $ at any table is to bet the max and quit, win or lose.

I actually wrote a simulation in QBASIC for that and it worked.

This is what's happening here.

[mechs]

We being JD investors. Something must be done about huge Martingale bettors. I recommend lower house limits on consistent doublers.

We are not being killed by huge martingale bettors, we are being killed by someone who bets 100 BTC on 49.5% 12 times and wins 11.

If it just happened one time, it would be easier to deal with.  It happens repeatedly.

[cdnbcguy]

Pulled my 7.5BTC 3 days ago when the site was up only 4,000 BTC, I came back the next day to see how much JD was up (2,000 BTC) and now today the site is negative -100 BTC.  

We being JD investors. Something must be done about huge Martingale bettors. I recommend lower house limits on consistent doublers.

 

I somehow have invested in the only casino in the world that loses money...  

Eventually the house edge will kick in.

The thing about the edge that’s important is that each bet gets a tiny little bite taken out of it - in this case REALLY tiny - and that adds up. The more the bets, the smaller the variance and the smaller the variance the more the house edge kicks in. With an edge as small as ours we must have a small variance. That means many small bets.

But we can get hurt by a few huge bets because the variance is large. The investor then becomes just another gambler and the whole point of being an investor is to not be a gambler. It is to be on the right side of the odds.

The math says we have to lower the max or raise the edge for big bets.

[superbit]

Change the house odds to 1.5%, none of the betters will leave and still better then SD.

[cdnbcguy]

Change the house odds to 1.5%, none of the betters will leave and still better then SD.

There's no need to make it harder for the 0.0003 BTC type bettor - it's the 75 BTC bettor like Chode I just saw...

We should just enforce a max profit and a max bet.

The variance on a Bernoulli distribution with a win prob of 0.5 (close enough) is 0.25 / the number of bets.

We want the variance to be small, therefore a lot of 0.0004 type bets. We take little nip out of each one.

It's not the edge it’s the variance and with a lower edge you must have a low variance and that means lots of little bets and not a few big ones.

I really hope Doog reads this. It's math, there's no room for argument. We need a max bet and a max profit  - I recommend 1 / 1,000 capital - that still allows a 36 BTC bet right now - that’s 4 grand.

[smitelrh]

just open the JD and see the (profit) -159.84071618 Down over 6000 BTC since last time a see it just a week ago...Crazy whale

[mechs]

Change the house odds to 1.5%, none of the betters will leave and still better then SD.

There's no need to make it harder for the 0.0003 BTC type bettor - it's the 75 BTC bettor like Choad I just saw...

We should just enforce a max profit and a max bet.

The variance on a Bernoulli distribution with a win prob of 0.5 (close enough) is 0.25 / the number of bets.

We want the variance to be small, therefore a lot of 0.0004 type bets. We take little nip out of each one.

It's not the edge it’s the variance and with a lower edge you must have a low variance and that means lots of little bets and not a few big ones.

I really hope Doog reads this. It's math, there's no room for argument. We need a max bet and a max profit  - I recommend 1 / 1,000 capital - that still allows a 36 BTC bet right now - that’s 4 grand.

I don't think Doog will change anything. 

[cdnbcguy]

Change the house odds to 1.5%, none of the betters will leave and still better then SD.

There's no need to make it harder for the 0.0003 BTC type bettor - it's the 75 BTC bettor like Choad I just saw...

We should just enforce a max profit and a max bet.

The variance on a Bernoulli distribution with a win prob of 0.5 (close enough) is 0.25 / the number of bets.

We want the variance to be small, therefore a lot of 0.0004 type bets. We take little nip out of each one.

It's not the edge it’s the variance and with a lower edge you must have a low variance and that means lots of little bets and not a few big ones.

I really hope Doog reads this. It's math, there's no room for argument. We need a max bet and a max profit  - I recommend 1 / 1,000 capital - that still allows a 36 BTC bet right now - that’s 4 grand.

I don't think Doog will change anything.  

He had better or sharps will continue to butt rape JD and it will continue to lose money and investors will start to flee like rats from a sinking ship.

It's about the variance, Doog!

[01BTC10]

Lower variance and lower potential profit mmmmkay.

[cdnbcguy]

Lower variance and lower potential profit mmmmkay.

No, the opposite. The lower the variance the more the house edge counts. More profit.

[geofflosophy]

I don't think that anything should be changed, though I'm not happy about being down so substantially either :/. The reality though is that these guys are lucky to be walking away with such large profits, and it is only a matter of time before they come back for another quick hit and donate it all back. These whale betters should actually be encouraged because in the long run they will lose, and right now we could use some big losers.

[zebedee]

Questions need to be seriously asked about whether something fishy is going on.  First time is happenstance, second time is coincidence, .....

What's this - the fifth or sixth time?