It's amazing how satoshidice.com and just-dice.com are revolutionizing online gambling industry.
satoshidice.com just sold out for 12 Million Dollars, and just-dice.com is replacing its leading role.
satoshidice has several advantages that traditional online casinos don't have:
1. no registration
2. proven fairness
3. bitcoin itself as clips
with the same mechanism of proven fairness, just-dice.com goes further:
1. registration needed, at the same time keeps players anonymity.
2. instant feedback (no need to wait for transaction confirmed)
3. clips enabled, but tied to deposited bitcoin directly.
of course, the most revolutionary feature just-dice.com has is that
it allows users deposit as investors, share the profit of house edge with the site.However, one flaw of satoshidice style blew just-dice.com out (at least temporarily): Nakowa (nickname also used as cici, celeste, that is, me) won more than 3k bitcoins within 3 days. (
here's the data of my bet history: https://just-dice.com/whale.zip)
What is the flaw? No max and min bet size set. In any tradition casino, max and min best sizes are all set, for example, min: 1, max: 5. In this way, the house controls the variance of outcome in a range. I never won from satoshidice.com that large amount of bitcoin, but did from just-dice.com, because it's just feedback instantly, and less tedious to place bets.
You have a large bankroll, and you bet alternatively with a very small bet size (0.01) as a test, and looking for pattern of (wlwlwlwl) (
50% chance of win should be set), then bet large after a small bet loses. It's just looks like a gambler's fallacy, but it's a very simple, effective and safe way to create much larger variance. As long as your bankroll is large enough, and you "big" bet size is relatively small so that you feel comfortable, you can easily win a very large amount. If you could possibly stop after a large positive variance created, you win.
(
Warning: DON'T think you can easily understand what stated above, and you can win on just-dice.com. To win, you'd better have the ability to control your emotions, and at the same time some positive luck.)
From the investors point of view, just-dice.com might well be profitable, but two factors need to be considered:
1. As the profit of the house goes up, more investors will be attracted, the percentage of an investor supplies to the house shrinks. Although the wagered may well go up a lot, the expected return of profit for an investor is less than fixed.
2. the investors can't enjoy a multiplied profit from the rise of share price as do satoshidice.com share holders (some of them enjoyed a 32-fold profit!).
Is there any way to create a better online casino than satoshidice.com and just-dice.com?
I myself is designing a slot machine game, would you give me some advices?
