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Author Topic: Just-Dice.com : Invest in 1% House Edge Dice Game  (Read 434903 times)
Rannasha
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July 10, 2013, 07:31:04 PM
 #441

I like how that presentation says to pick hi or lo and then not change it again.

Because obviously changing between the two really messes up the karma and makes you lose ^^
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July 10, 2013, 08:37:09 PM
 #442

I like how that presentation says to pick hi or lo and then not change it again.

Because obviously changing between the two really messes up the karma and makes you lose ^^

Most amusing part is the "you want to lose" idea - that losing small bets is good because you get to bet bigger and win more.  If that were true then logically you should just skip the small bets and start off big in the first place.

I'm still not sure whether it was intended to be serious or was an intentional parody of various "betting system" sites/pages.
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July 10, 2013, 11:27:08 PM
 #443

I had an idea for the site. I was thinking of what the equivalent of "free drinks" and "free rooms" (comps) would be for this site to encourage more visitors (bettors). Does anyone have suggestions?

Maybe a system where after a certain amount of BTC is wagered, your next bet will have a slightly increased payout. (i.e. 1.99x or 2x at 50% chance instead of 1.98x), or increased win chance for a given payout.  Obviously, methods that could abuse such a system need to be considered carefully. 

Anyway, just a thought.   
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July 10, 2013, 11:33:07 PM
 #444

Iam seeing some bit in the chat that is able to track how much did specific user wagered win/lost etc. That should be not allowed! That is just straight up bad for business
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July 11, 2013, 12:08:47 AM
 #445

[...]. The point is odds are in our favor 30 losses in a row will not happen on a 33% bet (again 3x example). [...]


He totally understands probabilities ;P

Heh yeah - 25 losses happened, but 30 losses?  That's impossible.

But let's not tap the tank.

I ran a dice bot before and my cap is 14 losses for 2x, 7 simultaneously every minute, and it happen average once every 2 days.
So 25 or 30 losses for 3x probably in a week or month. It just accumulating your small winning and lose all one time.
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July 11, 2013, 06:20:14 AM
 #446

I dunno if someone's already said this further back, but checking the "You currently have xxx BTC invested" ticker is almost as compulsively addicting as placing bets!

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July 11, 2013, 02:48:03 PM
 #447

What were the previous weekly returns?

Because, if I understand correctly, the more people invest, the less you get. For example, you invest 1 BTC and you have 1%, then you will get 1% of the profits, but if you invested 1 BTC and you have 0.1%, then you will get 0.1%. And I assume that the overall profit are constant, or independant from the invested money.

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July 11, 2013, 02:49:41 PM
 #448

And I assume that the overall profit are constant, or independant from the invested money.
Not exactly.

First, they are dependent of how many people bet, so "costant" is not the word

Second, the more people invests, the more increases the maximum bet, which might or might not have a positive effect on the total amount of coins bet.

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July 11, 2013, 02:52:19 PM
 #449

And I assume that the overall profit are constant, or independant from the invested money.
Not exactly.

First, they are dependent of how many people bet, so "costant" is not the word

Second, the more people invests, the more increases the maximum bet, which might or might not have a positive effect on the total amount of coins bet.



Yes, but still, how many people place the maximum possible bets?
I assume that 99.99 % of the people are betting with their own limit, way below the maximum one.
So, after xxxx btc, it does not matter if you have more invested money or not.

This is what I meant.

With 1 BTC invested, what were the 4 last returns?
Where can I find it?

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July 11, 2013, 02:55:23 PM
 #450

From another thread:

Can you please explain how do you calculate the ROI per year of just-dice?

Look at the volume of bets.  Multiply that by 1% (house edge).  That gives the EXPECTED profit (which is what we have to work with).  Now divide that by the time-period in which it occurred - to give a profit/day.  Then divide it by the total capital invested there to give an ROI.
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July 11, 2013, 02:59:27 PM
 #451

From another thread:

Can you please explain how do you calculate the ROI per year of just-dice?

Look at the volume of bets.  Multiply that by 1% (house edge).  That gives the EXPECTED profit (which is what we have to work with).  Now divide that by the time-period in which it occurred - to give a profit/day.  Then divide it by the total capital invested there to give an ROI.


Yes, excepted values. I was asking about historical ones, if anyone have invested and could give some figures Sad

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July 11, 2013, 03:07:21 PM
 #452

Because the site is offline right now I don't know exactly, but house is up more than 2% at the moment (instead of the 1% in the long run) and so my investment is about 5% up in the last 5 oder 6 days.

But that doesn't help you, because most of the profit is from two big "whales" losing large sums in a few sesonds (can happen again, of course, but distorts the view of the last days)
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July 11, 2013, 03:37:20 PM
 #453

From another thread:

Can you please explain how do you calculate the ROI per year of just-dice?

Look at the volume of bets.  Multiply that by 1% (house edge).  That gives the EXPECTED profit (which is what we have to work with).  Now divide that by the time-period in which it occurred - to give a profit/day.  Then divide it by the total capital invested there to give an ROI.


Yes, excepted values. I was asking about historical ones, if anyone have invested and could give some figures Sad

I'm invested like for 2 weeks and got 6.5%. But the site is up more than it should statistically be. It's more than 2% up in respect to the amount wagered. The amount of invested increased since I got in from 10k to 36k and my share therefore dropped to less than 1/3 of the original share.
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July 11, 2013, 09:30:40 PM
 #454

From another thread:

Can you please explain how do you calculate the ROI per year of just-dice?

Look at the volume of bets.  Multiply that by 1% (house edge).  That gives the EXPECTED profit (which is what we have to work with).  Now divide that by the time-period in which it occurred - to give a profit/day.  Then divide it by the total capital invested there to give an ROI.


Yes, excepted values. I was asking about historical ones, if anyone have invested and could give some figures Sad

I don't have historical figures of what you would earn each week if you had a bitcoin invested.  It would depend on all the people investing and divesting throughout the week, since that causes your share of the profits and losses to change each time.

What I do have is the amount wagered each day, and that should be what you're interested in.  The house expects to profit 1% of these amounts each day, and you expect to profit accordingly, based on your share of the bankroll.

Quote
+----------------+------------+
| wagered        | date       |
+----------------+------------+
|  2919.79120394 | 2013-06-20 |
|   644.49472807 | 2013-06-21 |
|   796.46026012 | 2013-06-22 |
|  1003.34512897 | 2013-06-23 | <-- Sunday
|  1204.43427320 | 2013-06-24 |
|  1065.60264041 | 2013-06-25 |
|  5237.27528647 | 2013-06-26 |
|  7207.34900533 | 2013-06-27 |
|  2614.69110338 | 2013-06-28 |
|  6420.51263080 | 2013-06-29 |
|  1966.41535014 | 2013-06-30 | <-- Sunday
|  3595.83494994 | 2013-07-01 |
|  2667.53734318 | 2013-07-02 |
|  3438.89064692 | 2013-07-03 |
|  3061.90377168 | 2013-07-04 |
|  6055.37219614 | 2013-07-05 |
| 16521.57210031 | 2013-07-06 |
|  4004.34791295 | 2013-07-07 | <-- Sunday
|  5494.99888483 | 2013-07-08 |
|  3537.85780509 | 2013-07-09 |
|  4526.38023233 | 2013-07-10 |
|  4396.14665637 | 2013-07-11 |
+----------------+------------+

Just-Dice                 ██             
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July 11, 2013, 10:04:23 PM
 #455

Ok thank you Smiley
I invested a small amount of btc to try it Smiley


I was wondering if that was possible to add a withdrawal to an inputs.io mail free of charge instead of a btc address?

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July 11, 2013, 10:29:52 PM
 #456

Ok thank you Smiley
I invested a small amount of btc to try it Smiley


I was wondering if that was possible to add a withdrawal to an inputs.io mail free of charge instead of a btc address?


That's been on my todo list for a while.  I'll get to it soon.

Just-Dice                 ██             
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July 12, 2013, 12:00:57 AM
 #457

Doog any more thoughts re: dead man switch etc?

Tips BTC --> 1BS2sYvy3T1cpNhie6CVFMcUrHa84a8mPa <-- Thanks! || Tips [LTC] --> LaytYJNCha7z7zcws5a2o2GWWjvWfDCGkr <--
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July 12, 2013, 02:39:54 AM
 #458

Doog any more thoughts re: dead man switch etc?

I have Doog as my dead man's switch. Meaning, if something happens to me where I can't log on in 2 months, an encrypted email gets sent to him with the secret and private key of my lotto's bitcoin address. I don't think he'd reciprocate. (Not unless my lotto regularly gets 30k BTC bets.)

Signature. You know what to do.
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July 12, 2013, 03:08:59 AM
 #459

Doog any more thoughts re: dead man switch etc?

Yes.  In the event of my demise, information will be sent to smart people I know in person and trust allowing them to repay the coins to investors (and players).

I will be asking for an "emergency withdrawal address" for each user, so that the refund process can happen pretty much automatically once the coins are out of cold storage.  That will allow me to make the refund instructions much simpler than having to set up a "claim" process.

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   1% House Edge
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July 12, 2013, 04:57:55 AM
 #460

From another thread:

Can you please explain how do you calculate the ROI per year of just-dice?

Look at the volume of bets.  Multiply that by 1% (house edge).  That gives the EXPECTED profit (which is what we have to work with).  Now divide that by the time-period in which it occurred - to give a profit/day.  Then divide it by the total capital invested there to give an ROI.


Yes, excepted values. I was asking about historical ones, if anyone have invested and could give some figures Sad

I don't have historical figures of what you would earn each week if you had a bitcoin invested.  It would depend on all the people investing and divesting throughout the week, since that causes your share of the profits and losses to change each time.

What I do have is the amount wagered each day, and that should be what you're interested in.  The house expects to profit 1% of these amounts each day, and you expect to profit accordingly, based on your share of the bankroll.

Quote
+----------------+------------+
| wagered        | date       |
+----------------+------------+
|  2919.79120394 | 2013-06-20 |
|   644.49472807 | 2013-06-21 |
|   796.46026012 | 2013-06-22 |
|  1003.34512897 | 2013-06-23 | <-- Sunday
|  1204.43427320 | 2013-06-24 |
|  1065.60264041 | 2013-06-25 |
|  5237.27528647 | 2013-06-26 |
|  7207.34900533 | 2013-06-27 |
|  2614.69110338 | 2013-06-28 |
|  6420.51263080 | 2013-06-29 |
|  1966.41535014 | 2013-06-30 | <-- Sunday
|  3595.83494994 | 2013-07-01 |
|  2667.53734318 | 2013-07-02 |
|  3438.89064692 | 2013-07-03 |
|  3061.90377168 | 2013-07-04 |
|  6055.37219614 | 2013-07-05 |
| 16521.57210031 | 2013-07-06 |
|  4004.34791295 | 2013-07-07 | <-- Sunday
|  5494.99888483 | 2013-07-08 |
|  3537.85780509 | 2013-07-09 |
|  4526.38023233 | 2013-07-10 |
|  4396.14665637 | 2013-07-11 |
+----------------+------------+

Over 11,000 BTC bet in the 6 hours since this was posted!
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