Just-Dice.com : Invest in 1% House Edge Dice Game

[dooglus]

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 don't know how true that is.  PrimeDice and CoinRoll offer pretty similar services to the player, and both offer a 1% house edge.  I personally wouldn't play at a 1.2% game when there's a 1.0% game next door.  My feeling is that the loss of bet volume caused by increasing the house edge would swamp any investor gain from the slight increase in house edge.  I can experiment with this later, but I think it's still too early to be making such changes.

[1715221680]

1715221680

[dooglus]

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?

That's right.  "house is up" should be 1% of amount wagered, and is currently only a little over half of that.

There's no history of those stats available yet, but in time I will provide API access to the history as well as charts on the site.

[jdough]

Cool. Will be appreciated.

[Taxidermista]

Variance is a bitch. After 5 days I've only seen green once, a couple of minutes. The other 200 times -yes, I'm a little anal with this thing- always red. I though that almost 10 millions bets would smooth variance, I was wrong.

[Eric Muyser]

Variance is a bitch. After 5 days I've only seen green once, a couple of minutes. The other 200 times -yes, I'm a little anal with this thing- always red. I though that almost 10 millions bets would smooth variance, I was wrong.

Same. I saw profit for a couple days and then it was gone. Got out at a small loss and moved it to ASICMINER. Up quite a bit now (if I sell off, which I won't).

[🏰 TradeFortress 🏰]

Variance is a bitch. After 5 days I've only seen green once, a couple of minutes. The other 200 times -yes, I'm a little anal with this thing- always red. I though that almost 10 millions bets would smooth variance, I was wrong.

And there are people leaving coinlenders saying 180% APR

[eltopo]

Variance is a bitch. After 5 days I've only seen green once, a couple of minutes. The other 200 times -yes, I'm a little anal with this thing- always red. I though that almost 10 millions bets would smooth variance, I was wrong.

And there are people leaving coinlenders saying 180% APR

If you had not made those killing bets, investors wouldn't be so poor now! 

[dooglus]

Variance is a bitch. After 5 days I've only seen green once, a couple of minutes. The other 200 times -yes, I'm a little anal with this thing- always red. I though that almost 10 millions bets would smooth variance, I was wrong.

10 million bets of roughly the same size would.  But 9.9 million tiny bets and 3 huge bets from TF which all won mess things up...

In other news over 2k BTC pulled out this morning, so everyone else's share of the bankroll will have risen over 10%.

[dooglus]

In other news over 2k BTC pulled out this morning, so everyone else's share of the bankroll will have risen over 10%.

Just in time for this action:

[SamuelSG]

Woot WOOT!

And a big thank you to... Jeffrey!

 

[davout]

Woot WOOT!

And a big thank you to... Jeffrey!

 

Word.

[dooglus]

Word.

I'm hoping the ten millionth bet promotion will bring us another Jeffrey.  Or the same one. 

[cusdog]

Can someone tell me what happened just now?

[dooglus]

Can someone tell me what happened just now?

Can you be more specific?

[cusdog]

It was rhetorical. Basically the entire recent bets screen was green with 2x payouts. Just something which you don't statistically see very often.

Sorry for the spam.

[dooglus]

Not sure if it's been said quite like this... so...

MOAR GRAFZ _pleasethanks

thankyou foryourtime

It's been said every which way, and I get it. 

[wolverine.ks]

did a bunch of investers take their btc out now that the house is back up to record levels? like you can make money by taking money out at the tip and buying back in at the bottom?

[Eric Muyser]

did a bunch of investers take their btc out now that the house is back up to record levels? like you can make money by taking money out at the tip and buying back in at the bottom?

Should keep it to yourself. Investors getting out is good for your profit margin.

[wolverine.ks]

right, but just so im clear, there is no investing strategy that would work like i described earlier, since the game is provably fair, there would be no way to know when the bottom or top is, right?

[nimda]

right, but just so im clear, there is no investing strategy that would work like i described earlier, since the game is provably fair, there would be no way to know when the bottom or top is, right?

Right.