Question about dice

[PA992]

The main thing I'm wondering is about the function where you decrease your percentage, thus increasing your pay out (or vice versa). I kind of thought it was 50/50 no matter what...

The other thing I'm wondering is is there a benefit to continually randomizing seeds?

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[b!z]

Say we have a 0% house edge:

1.5x = 66% chance to win
2x = 50% chance to win
4x = 25% chance to win
10x = 10% chance to win

Makes sense, right? Think of it as a multi-sided dice roll, rather than just a coin flip.

You should pick a random seed to make sure the results are actually fair. If the server chooses the seed, this can happen. It won't improve your chances of winning, but it stops you from getting cheated.

[PA992]

Hey, bitcoinreviewer.com, I really like your site. 

I don't know what those numbers refer to  1.5x, 2x...

[b!z]

Sorry, should have been more clear

1.5x, 2.5x... your original wager.

If you have a 1/3 chance of winning, then you should get 3x your bet if you win.

Here's an example:



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[PA992]

Can anyone explain the different house edges on dicenow.com? Seems like when one gives the house an advantage, the potential profit actually goes down, whereas the "max profit per bet" goes up. Not even sure what the difference is between the two, but I would think that in exchange for giving the house a greater edge, all types of profits would go up. I'm also having trouble putting these numbers in context, as both 1%, 2%, and 3% seem really friggin' small.

[Qwiner]

Can anyone explain the different house edges on dicenow.com? Seems like when one gives the house an advantage, the potential profit actually goes down, whereas the "max profit per bet" goes up. Not even sure what the difference is between the two, but I would think that in exchange for giving the house a greater edge, all types of profits would go up. I'm also having trouble putting these numbers in context, as both 1%, 2%, and 3% seem really friggin' small.

I think the higher house edge had slightly higher betting limit. But still I prefer lower house edge with slightly lower bet limit. Better returns for U.

[PA992]

I hear the odds in poker are much better if you get a strategy down.

[Phildo]

Can anyone explain the different house edges on dicenow.com? Seems like when one gives the house an advantage, the potential profit actually goes down, whereas the "max profit per bet" goes up. Not even sure what the difference is between the two, but I would think that in exchange for giving the house a greater edge, all types of profits would go up. I'm also having trouble putting these numbers in context, as both 1%, 2%, and 3% seem really friggin' small.

House edge is how much the house "should win" overall. the max profit per bet goes up because they want to offer you a bigger reward to take a worse bet.

[PA992]

But the "profit" (seperate from "max profit per bet") goes down!

[Phildo]

But the "profit" (seperate from "max profit per bet") goes down!

I was wrong before, I didn't realize there were different bankrolls, but it comes down to the same logic. The house edge is how much the hosue expects to win, so the higher the house edge, the higher the bankroll, so the higher the profit.

It's easier to see this in litecoin mode, because the difference is much bigger there. More people invest in the 3% house edge game, so they will let you bet more in those games.

The profit goes down for each bet because they are paying you less money.

Put the chance at 50 and the wager at 100 so we can compare it to flipping a coin.

If house edge was zero, heads  you win 100, tails you lose 100.

If the house edge is 1%, heads you win 98, tails you lose 100.

If the house edge is 2%, heads you win 96, tails you lose 100.

If the house edge is 3%, heads you win 94, tails you lose 100.

[PA992]

Thanks.

[b!z]

Investors can pick which house edge they want to invest coins in on Dicenow. Higher house edge = less risk for investors = higher max bet.

[PA992]

Do you think it's possible to consistently make a certain amount of money a day playing the dice?

[PolarPoint]

It is certainly possible, but more probable to consistently loose a certain amount a day by gambling

[Phildo]

Do you think it's possible to consistently make a certain amount of money a day playing the dice?

No. there is no way to change the math. The more you play, the closer your results will be to what they should be, which is you losing 1, 2, or 3% of what you bet.

[PA992]

You can't chnage the math, but you can change your bets. Using a combination of small bets and large bets cuts into the probability factor because although you're guaranteed to experience significant losing rolls, you might find that the low bets catch most of those, so to speak, whereas when you bet higher, you get wins. You'll get losses for both, but by mixing it up, you seem to increase the odds. I successfully made 40 dollars two days ago using this strategy, and what's significant is that I was playing for quite a while.

I basically use primarily small and medium bets and hope that sporadic big bets will make up for losses and propel me forward. And the big bets are not so big that you can't recover.

I forgot to mention the probability. My current thoughts are that a probability above 50 is the way to go, because, well, you're putting the odds in your favor. Of course the ratio of money lost to money won increases, but again, by mixing in big bets, you can hypothetically always make up for losses.

Just tested this out again and I have some things to add:

It seems one should also vary the probability, because this enables one to increase your profits without increasing your bet size. So it seems like you can gain a definite advantage over the machine, it's just that you need keep changing things, and the software doesn't make that a quick, streamlined process, so it would be pretty laborious.

[Phildo]

You can't chnage the math, but you can change your bets. Using a combination of small bets and large bets cuts into the probability factor because although you're guaranteed to experience significant losing rolls, you might find that the low bets catch most of those, so to speak, whereas when you bet higher, you get wins. You'll get losses for both, but by mixing it up, you seem to increase the odds. I successfully made 40 dollars two days ago using this strategy, and what's significant is that I was playing for quite a while.

I basically use primarily small and medium bets and hope that sporadic big bets will make up for losses and propel me forward. And the big bets are not so big that you can't recover.

I forgot to mention the probability. My current thoughts are that a probability above 50 is the way to go, because, well, you're putting the odds in your favor. Of course the ratio of money lost to money won increases, but again, by mixing in big bets, you can hypothetically always make up for losses.

Just tested this out again and I have some things to add:

It seems one should also vary the probability, because this enables one to increase your profits without increasing your bet size. So it seems like you can gain a definite advantage over the machine, it's just that you need keep changing things, and the software doesn't make that a quick, streamlined process, so it would be pretty laborious.

That's going to work every time until the time it doesn't. You can make money on bets with a negative expected value by being lucky. there is no way to consistently be lucky. Even if the probability is above 50% the odds aren't in your favor because they aren't paying you the correct odds.