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Author Topic: Just-Dice.com : Invest in 1% House Edge Dice Game  (Read 434903 times)
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June 29, 2013, 11:17:17 PM
 #161

Iam more than fine with 5% but the reason you made for it is just ridiculous ...

Now to serious note,that opens door for something I was mentioning before how about reward long time investors with lower fee?
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June 30, 2013, 12:45:03 AM
 #162

5% commission would certainly work for most investors that put money in the site, 0,95% of the avg wagered amount is almost as good as 0,99%.

But lets just hope this isen't a first step in phasing out the investors, that with there btc's made it possible for dooglus to make the site to be such a success that fast.

I think it would have been pretty hard to get a 15 000 BTC loan in a normal bank or even in the btc-world for starting up a gambling site like this. Doogus would probably have had to start up with way less BTC in the house if he would have tried to get funding in other way and the growth and success wouldn't have been the same if the people from bitcointalk wouldn't have been involved that close for both investing and betting on the site.
Even if it would have been possible to get a large loan even at a relatively "low" interest in the btc world of 3% a month that would mean 450 BTC a month, and i guess not many people would take a that big gamble themselves on that a site would be such a success that it could payoff such big interest. 

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June 30, 2013, 01:13:59 AM
 #163

Wow, what a reason for deciding to increase the rate to 5%...

Hopefully you don't know people that scam other people, so you won't decide to do the same because they told you it is a very common approach and should be replicated.. or

Hopefully you don't know people that dislike your site and told you to close it and disappear.. or

.. you got the idea.
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June 30, 2013, 01:19:10 AM
 #164

Wow, what a reason for deciding to increase the rate to 5%...

Hopefully you don't know people that scam other people, so you won't decide to do the same because they told you it is a very common approach and should be replicated.. or

Hopefully you don't know people that dislike your site and told you to close it and disappear.. or

.. you got the idea.
I am more comfortable with 5% than 1%.

Just saying. It means a bigger incentive for dooglus to be honest and not run away with invested coins.
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June 30, 2013, 02:30:15 AM
 #165

I'd really be so much more comfortable gambling in Vegas if they raised the house rake...Makes me feel like they're less likely to rig the games.

I wish my bank would charge me more on my checking account...Makes me feel like they're not going to just shut the doors and run off with my money.

...ok?

That said, I'm fine with a commission increase to 5%.  You either trust Dooglus by investing/gambling or you don't.  I don't see any other site offering the opportunity to "be the bank". Until there is competition in that space, commission is limited only by what the market will bear and Dooglus is comfortable with.
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June 30, 2013, 02:37:45 AM
Last edit: June 30, 2013, 03:04:05 AM by TradeFortress
 #166

I wish my bank would charge me more on my checking account...Makes me feel like they're not going to just shut the doors and run off with my money.
A free search engine like Google is tracking you across the web and tailoring advertisements to you. I wouldn't be pissed if I could buy "Google Premium".

EDIT: If the incentive for dooglus to run away with the coins is X and to be legit is Y, do you think he is more likely to run away when Y is very low?
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June 30, 2013, 02:57:07 AM
 #167

I wish my bank would charge me more on my checking account...Makes me feel like they're not going to just shut the doors and run off with my money.
A free search engine like Google is tracking you across the web and tailoring advertisements to you.
I fail to see how that's relevant to the topic at hand.

I recommend asking me for a signature from my GPG key before doing a trade. I will NEVER deny such a request.
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June 30, 2013, 05:29:48 AM
 #168

Wow, what a reason for deciding to increase the rate to 5%...

Hopefully you don't know people that scam other people, so you won't decide to do the same because they told you it is a very common approach and should be replicated.. or

Hopefully you don't know people that dislike your site and told you to close it and disappear.. or

.. you got the idea.
I am more comfortable with 5% than 1%.

Just saying. It means a bigger incentive for dooglus to be honest and not run away with invested coins.

I'm more comfortable with 5% too.  I've been working 20 hour days on the site since launch, and earning approximately nothing in return.  I'm used to working for other people, and earning significantly more than that.  Now I'm working for myself and not even covering expenses?

If it becomes apparently that 5% is stupidly high, then I'll reduce it again.

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   1% House Edge
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June 30, 2013, 05:44:16 AM
 #169

Wow, what a reason for deciding to increase the rate to 5%...

Hopefully you don't know people that scam other people, so you won't decide to do the same because they told you it is a very common approach and should be replicated.. or

Hopefully you don't know people that dislike your site and told you to close it and disappear.. or

.. you got the idea.
I am more comfortable with 5% than 1%.

Just saying. It means a bigger incentive for dooglus to be honest and not run away with invested coins.

I'm more comfortable with 5% too.  I've been working 20 hour days on the site since launch, and earning approximately nothing in return.  I'm used to working for other people, and earning significantly more than that.  Now I'm working for myself and not even covering expenses?

If it becomes apparently that 5% is stupidly high, then I'll reduce it again.

Wouldn't be better to increase the house edge then ? 1% might be nice for the players, but maybe not so nice for the investors. This is likely to increase the amount of BTC invested, allowing for a greater max profit, maybe attracting more distinct players, and in the end more profit for you.
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June 30, 2013, 06:03:10 AM
 #170

Wow, what a reason for deciding to increase the rate to 5%...

Hopefully you don't know people that scam other people, so you won't decide to do the same because they told you it is a very common approach and should be replicated.. or

Hopefully you don't know people that dislike your site and told you to close it and disappear.. or

.. you got the idea.
I am more comfortable with 5% than 1%.

Just saying. It means a bigger incentive for dooglus to be honest and not run away with invested coins.

I'm more comfortable with 5% too.  I've been working 20 hour days on the site since launch, and earning approximately nothing in return.  I'm used to working for other people, and earning significantly more than that.  Now I'm working for myself and not even covering expenses?

If it becomes apparently that 5% is stupidly high, then I'll reduce it again.

Wouldn't be better to increase the house edge then ? 1% might be nice for the players, but maybe not so nice for the investors. This is likely to increase the amount of BTC invested, allowing for a greater max profit, maybe attracting more distinct players, and in the end more profit for you.

Do the math, at the current turnover and level of investment, 1% is fine.
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June 30, 2013, 06:08:15 AM
 #171

Wow, what a reason for deciding to increase the rate to 5%...

Hopefully you don't know people that scam other people, so you won't decide to do the same because they told you it is a very common approach and should be replicated.. or

Hopefully you don't know people that dislike your site and told you to close it and disappear.. or

.. you got the idea.
I am more comfortable with 5% than 1%.

Just saying. It means a bigger incentive for dooglus to be honest and not run away with invested coins.

I'm more comfortable with 5% too.  I've been working 20 hour days on the site since launch, and earning approximately nothing in return.  I'm used to working for other people, and earning significantly more than that.  Now I'm working for myself and not even covering expenses?

If it becomes apparently that 5% is stupidly high, then I'll reduce it again.

Wouldn't be better to increase the house edge then ? 1% might be nice for the players, but maybe not so nice for the investors. This is likely to increase the amount of BTC invested, allowing for a greater max profit, maybe attracting more distinct players, and in the end more profit for you.

Do the math, at the current turnover and level of investment, 1% is fine.

Do the math for what exactly ? To tell you what happens when house edge moves to 1.1%, .., 1.9%, etc ? Also, define what is "fine" here.
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June 30, 2013, 08:02:08 AM
 #172

Now to serious note,that opens door for something I was mentioning before how about reward long time investors with lower fee?
He already answered about that.

PS: people complaining agains the owner's rate make me sick for several reasons:
1. why didn't you speak up when we were still discussing about that!!!
2. it was really too low, he wasn't earning anything, so stfu he's not your slave
3. he had no incentive - not talking about running away, but even just against shutting down the site

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June 30, 2013, 08:25:47 AM
 #173

Wow, what a reason for deciding to increase the rate to 5%...

Hopefully you don't know people that scam other people, so you won't decide to do the same because they told you it is a very common approach and should be replicated.. or

Hopefully you don't know people that dislike your site and told you to close it and disappear.. or

.. you got the idea.
I am more comfortable with 5% than 1%.

Just saying. It means a bigger incentive for dooglus to be honest and not run away with invested coins.

I'm more comfortable with 5% too.  I've been working 20 hour days on the site since launch, and earning approximately nothing in return.  I'm used to working for other people, and earning significantly more than that.  Now I'm working for myself and not even covering expenses?

If it becomes apparently that 5% is stupidly high, then I'll reduce it again.

Seems a decent move - you have a good concept and the site's working fine.  You SHOULD be earning something decent from it - and I'm happy to see this increase.

And I say that as someone who DOES have funds deposited there on the house side (and will likely never roll the dice on other side of the table).

People saying 1% just don't get it.  As a depositor there I want dooglus to have an incentive to continue running the site and developing it - with 1% the only way he'd do financially well in the short-mid term would be to run with the funds.  The 4% change makes negligible difference to investors but gives a big (and deserved) boost to dooglus' cut.  In return we can have far more confidence in his ongoing commitment to the site - an exchange I'm more than happy with.
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June 30, 2013, 08:28:31 AM
 #174

Wow, what a reason for deciding to increase the rate to 5%...

Hopefully you don't know people that scam other people, so you won't decide to do the same because they told you it is a very common approach and should be replicated.. or

Hopefully you don't know people that dislike your site and told you to close it and disappear.. or

.. you got the idea.
I am more comfortable with 5% than 1%.

Just saying. It means a bigger incentive for dooglus to be honest and not run away with invested coins.

I'm more comfortable with 5% too.  I've been working 20 hour days on the site since launch, and earning approximately nothing in return.  I'm used to working for other people, and earning significantly more than that.  Now I'm working for myself and not even covering expenses?

If it becomes apparently that 5% is stupidly high, then I'll reduce it again.

Wouldn't be better to increase the house edge then ? 1% might be nice for the players, but maybe not so nice for the investors. This is likely to increase the amount of BTC invested, allowing for a greater max profit, maybe attracting more distinct players, and in the end more profit for you.

How many bets have there been that hit the max-profit limit?  Extra BTC invested doesn't increase profits unless it allows bets that currently can't be covered - and there's no sign of that being a major issue.

Increasing house edge definitely isn't going to attract more players - whatever else it does.
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June 30, 2013, 09:18:43 AM
 #175

I have  a proposition.

How about adding a possibility to bet more, with a higher house edge?
Like, 2% house edge, double the max profit.
OR 10% house edge, 10x the max profit.

May be also make a smaller multiplier bracket for these.
like, 1.25x to 100x

May the whales flow in!


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June 30, 2013, 10:09:07 AM
 #176

I have  a proposition.

How about adding a possibility to bet more, with a higher house edge?
Like, 2% house edge, double the max profit.
OR 10% house edge, 10x the max profit.

May be also make a smaller multiplier bracket for these.
like, 1.25x to 100x

May the whales flow in!




I think by adjusting the odds you could achieve the same effect

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June 30, 2013, 01:23:31 PM
 #177

Wow, what a reason for deciding to increase the rate to 5%...

Hopefully you don't know people that scam other people, so you won't decide to do the same because they told you it is a very common approach and should be replicated.. or

Hopefully you don't know people that dislike your site and told you to close it and disappear.. or

.. you got the idea.
I am more comfortable with 5% than 1%.

Just saying. It means a bigger incentive for dooglus to be honest and not run away with invested coins.

I'm more comfortable with 5% too.  I've been working 20 hour days on the site since launch, and earning approximately nothing in return.  I'm used to working for other people, and earning significantly more than that.  Now I'm working for myself and not even covering expenses?

If it becomes apparently that 5% is stupidly high, then I'll reduce it again.

Wouldn't be better to increase the house edge then ? 1% might be nice for the players, but maybe not so nice for the investors. This is likely to increase the amount of BTC invested, allowing for a greater max profit, maybe attracting more distinct players, and in the end more profit for you.

How many bets have there been that hit the max-profit limit?  Extra BTC invested doesn't increase profits unless it allows bets that currently can't be covered - and there's no sign of that being a major issue.

Increasing house edge definitely isn't going to attract more players - whatever else it does.

+1

Turnover really is all that matters. If it maintains the same investor:turnover ratio, the return for investors is very good as it stands. Yes, increasing the house edge slightly would probably give investors more profit, so long as it stays competitive with other gambling sites (I doubt people will change their minds about gambling at just-dice due to a 1.2% house edge vs 1% for example). I think Dooglus has plenty of time to massage the values later as his understanding of the climate matures.

I have  a proposition.

How about adding a possibility to bet more, with a higher house edge?
Like, 2% house edge, double the max profit.
OR 10% house edge, 10x the max profit.

May be also make a smaller multiplier bracket for these.
like, 1.25x to 100x

May the whales flow in!




I think by adjusting the odds you could achieve the same effect

This. I think that increasing the maximum bet is a bigger danger than a lot of people think. If a whale comes in and does some safe 80% bets on 1000 BTC and win 4 times in a row, packs up and leaves, that is going to deliver a serious hit to the bankroll that will be difficult to make back up. If whale turnover is low, those people have a very real chance of not making their investment back for a very very long time.
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June 30, 2013, 01:49:53 PM
 #178

How much should the max bet be then for more safety for investors?

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June 30, 2013, 03:15:09 PM
Last edit: June 30, 2013, 03:29:02 PM by jdough
 #179

+1 on this being a great idea and implementation

Just to make sure i understand correctly, in the 'stats' tab, in the long run, the "site is up" value should approach the value for "wagered" times the house take of 1%?
Right now that would be about 30,256BTC * .01 -> 302.56BTC.

Also, is there a way now (or a way planned) to track the history of the values in the 'stats' tab in an automated way?

Thanks for the site.

jd

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June 30, 2013, 03:33:01 PM
 #180

+1 on this being a great idea and implementation

Just to make sure i understand correctly, in the 'stats' tab, in the long run, the "site is up" value should approach the value for "wagered" times the house take of 1%?
Right now that would be about 30,256BTC * .01 -> 302.56BTC.
Yes, however if the house is making 100 BTC less than expected, it's expected to always be 100 BTC down. On a graph, the actual profits line is expected to run parallel to the 1% of volume line. In practice it will swing wildly above and below its target.

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Also, is there a way now (or a way planned) to track the history of the values in the 'stats' tab in an automated way?
See, dooglus! More people want GRAAAAPHS!

I recommend asking me for a signature from my GPG key before doing a trade. I will NEVER deny such a request.
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