Direct Dice - 10 BTC Jackpot ! Bitcoin, Litecoin, Dogecoin & Darkcoin !

[DirectBet]

I like to be able to bet quickly, and get instant feedback, like this:

You can use Direct Dice to place multiple bets simultaneously, you don't have to wait for the payout before rolling the dice again.

Alternatively, for faster payouts Direct Dice can be played with Dogecoins.

Once you transfer your Dogecoin Direct Dice bet, you will have your winnings back in your wallet in about a minute.

That's a subjective matter but I believe most people will prefer to wait a minute for payouts rather than lose money.

The fact that Direct Dice features no house edge also means that you can play longer without busting.

http://www.directbet.eu/

[dooglus]

I like to be able to bet quickly, and get instant feedback, like this:

You can use Direct Dice to place multiple bets simultaneously, you don't have to wait for the payout before rolling the dice again.

Alternatively, for faster payouts Direct Dice can be played with Dogecoins.

Once you transfer your Dogecoin Direct Dice bet, you will have your winnings back in your wallet in about a minute.

That's a subjective matter but I believe most people will prefer to wait a minute for payouts rather than lose money.

I base each bet on the result of the previous one, so placing a bunch at once doesn't work for me.

The problem with using Dogecoin is that they lose value so fast you'd be better of paying the 1% edge to use Bitcoin.

[Rating Place]

edit - figured out the answer on my own.

[DirectBet]

I base each bet on the result of the previous one, so placing a bunch at once doesn't work for me.

What if you will be able to play with Direct Dice with 0 confirmation, so that you will be getting instant results and payouts ?

[dooglus]

I base each bet on the result of the previous one, so placing a bunch at once doesn't work for me.

What if you will be able to play with Direct Dice with 0 confirmation, so that you will be getting instant results and payouts ?

That would make it faster.

How many steps would each bet take?

Where I currently play, I hit 'c' to double my stake, and 'h' to bet 'hi', so two keystrokes per bet.

On directbet do I need to get a new bitcoin address each time I want to double my stake? Or can I just keep sending to the same address over and over if I want the same bet with different stakes?

[DirectBet]

On directbet do I need to get a new bitcoin address each time I want to double my stake? Or can I just keep sending to the same address over and over if I want the same bet with different stakes?

Yes, you can send multiple bets at varying stakes to the same address.

[marcovaldo]

I did not go to the website but what are the requirements to have 0% house edge?

[21pilot]

I did not go to the website but what are the requirements to have 0% house edge?

1000 BTC turnover gives you 10 BTC in VIP rewards.
(which is exactly the amount of the expectation of the house if you wager 1000 BTC)

+ you are freerolling on the jackpot, which makes it +EV to play there.
Provided you are able to generate 1000 BTC turnover 

[dooglus]

I did not go to the website but what are the requirements to have 0% house edge?

1000 BTC turnover gives you 10 BTC in VIP rewards.
(which is exactly the amount of the expectation of the house if you wager 1000 BTC)

+ you are freerolling on the jackpot, which makes it +EV to play there.
Provided you are able to generate 1000 BTC turnover 

As I understand it, you don't get 10 BTC though, you get a single free 10 BTC bet.

Is there a BTC alternative, or do you have to take the free bet on the site?

[DirectBet]

As I understand it, you don't get 10 BTC though, you get a single free 10 BTC bet.

Is there a BTC alternative, or do you have to take the free bet on the site?

For every VIP Rewards Milestone that you reach you earn a reward.

The first milestone rewards 0.05 BTC, the second 0.75 BTC, the third 3.7 BTC and the final rewards 5.5 BTC.

The rewards are awarded in the form of free bets. You can select any bet that you like and we can split the reward into multiple bets upon request.

Please visit http://www.directbet.eu/VIP.cshtml for more details and feel free to contact me for any further information.

[DirectBet]

The problem with using Dogecoin is that they lose value so fast you'd be better of paying the 1% edge to use Bitcoin.

That's incorrect and can be proven mathematically.

Suppose for example that you have 10 BTC and you place 2,000 dice bets of 0.5 BTC each in a dice game with 1% edge.

So you place a total of 1000 BTC bets and since the house edge is 1% you are expected to lose 10 BTC therefore your EV is -100%.

You are expected to lose it all.

Now take this example and apply it to Direct Dice. Convert the 10 BTC to Dogecoin and play with Direct Dice.

Since Direct Dice features no house edge, your EV is neutral and you can have fun and enjoy the game as much as you like. In the long run you are not expected to either win or lose and maybe you will get lucky in the process and hit the Jackpot.

Now even if you believe that holding Dogecoin is a minus EV proposition, the EV for holding it is never -100%. For holding Dogecoin to be -100% EV you need to be certain that it will die while you hold it (i.e. play with Direct Dice), which can not be the case since you can never be so certain.

Even if the Dogecoin will lose some of its value while you play with Direct Dice you will still be better off because as in the first example you are expected to lose your entire 10 BTC anyhow by playing at another dice game.

Therefore, converting your Bitcoin to Dogecoin to play with no house edge at Direct Dice is much better than playing with another dice game that has 1% edge.

[dooglus]

The problem with using Dogecoin is that they lose value so fast you'd be better of paying the 1% edge to use Bitcoin.

That's incorrect and can be proven mathematically.

Suppose for example that you have 10 BTC and you place 2,000 dice bets of 0.5 BTC each in a dice game with 1% edge.

So you place a total of 1000 BTC bets and since the house edge is 1% you are expected to lose 10 BTC therefore your EV is -100%.

You are expected to lose it all.

Now take this example and apply it to Direct Dice. Convert the 10 BTC to Dogecoin and play with Direct Dice.

Since Direct Dice features no house edge, your EV is neutral and you can have fun and enjoy the game as much as you like. In the long run you are not expected to either win or lose and maybe you will get lucky in the process and hit the Jackpot.

Now even if you believe that holding Dogecoin is a minus EV proposition, the EV for holding it is never -100%. For holding Dogecoin to be -100% EV you need to be certain that it will die while you hold it (i.e. play with Direct Dice), which can not be the case since you can never be so certain.

Even if the Dogecoin will lose some of its value while you play with Direct Dice you will still be better off because as in the first example you are expected to lose your entire 10 BTC anyhow by playing at another dice game.

Therefore, converting your Bitcoin to Dogecoin to play with no house edge at Direct Dice is much better than playing with another dice game that has 1% edge.

There's probably a name for that kind of logical fallacy.

You started with "Suppose for example that you have 10 BTC", then used that supposition to draw the conclusion that "therefore your EV is -100%", and then somehow drew the conclusion that the EV is -100% for all 1% edge dice games, even when playing with DOGE.

But what if I have 100 billion DOGE and play 2,000 dice bets of 0.5 DOGE each in a dice game with 1% edge?

I place a total of 1000 DOGE, expect to lose 10 DOGE which is about 0.000% of my 100 billion. Therefore my EV is about 0.000%.

So using the same logic as you used I just proved that 1% games have the same EV as 0% games.

[dooglus]

The rewards are awarded in the form of free bets. You can select any bet that you like and we can split the reward into multiple bets upon request.

Please visit http://www.directbet.eu/VIP.cshtml for more details and feel free to contact me for any further information.

I did visit that page already which is what made me think it was a single bet per reward:

Order any single bet or Toto ~ Parlay that you like

I don't know what the last half of that means. Toto is maybe  the name of Dorothy's dog or the Lone Ranger's buddy? And I heard the word Parlay occasionally but don't know what it means. It's also not clear what the ~ sign means in this context. Maybe a link to a page that explains those terms would be useful here. Perhaps it means "split into multiple bets on request"?

Edit: I found some definitions:





So a Parlay is where the winnings from each bet become the stake for the next bet, and a Toto is a special kind of Parlay which acts just a regular kind? Neither seems to be allowing me to split my bet into smaller independent bets though.

Edit2: I accidentally pasted the wrong image URL, but it's funny so whatever:

[DirectBet]

But what if I have 100 billion DOGE and play 2,000 dice bets of 0.5 DOGE each in a dice game with 1% edge?

But then if you want to place 2,000 Direct Dice bets of 0.5 DOGE each you don't need to purchase 100 billion DOGE for that.

We're specifically talking here about your concern that if you convert BTC to DOGE to play at Direct Dice you will lose from DOGE decrease in value.

I showed that even if DOGE value does indeed decrease while you're playing, you would still be better off playing with Direct Dice thanks to the no house edge because with other dice games you are destined to eventually lose it all anyhow.

Toto is how we name the Parlay feature.

DirectBet offers a unique feature where you can parlay one or more provably fair dice rolls with sport and horse racing bets.

[dooglus]

But what if I have 100 billion DOGE and play 2,000 dice bets of 0.5 DOGE each in a dice game with 1% edge?

But then if you want to place 2,000 Direct Dice bets of 0.5 DOGE each you don't need to purchase 100 billion DOGE for that.

We're specifically talking here about your concern that if you convert BTC to DOGE to play at Direct Dice you will lose from DOGE decrease in value.

I showed that even if DOGE value does indeed decrease while you're playing, you would still be better off playing with Direct Dice thanks to the no house edge because with other dice games you are destined to eventually lose it all anyhow.

Toto is how we name the Parlay feature.

DirectBet offers a unique feature where you can parlay one or more provably fair dice rolls with sport and horse racing bets.

So if I have exactly the amount of coin that I am expected to lose, I am expected to lose the amount of coin that I have? Therefore 100% loss?

Is that your proof in a nutshell?

Your tautology is tautological.

[jjc326]

Your subject line is misleading.  There is not a 0% house edge. 

Even in your "perfect" no house edge scenario, if someone bets 1000 BTC they get 10 BTC back but they have to wager the 10 BTC, thereby providing you with another house edge.  If you just gave the person 10 BTC with no strings attached then fine it would make more sense but right now it's totally incorrect DirectBet.

[DirectBet]

Your subject line is misleading.  There is not a 0% house edge. 

Even in your "perfect" no house edge scenario, if someone bets 1000 BTC they get 10 BTC back but they have to wager the 10 BTC, thereby providing you with another house edge.  If you just gave the person 10 BTC with no strings attached then fine it would make more sense but right now it's totally incorrect DirectBet.

Thanks for your feedback jjc326 but that's not exactly accurate.

Direct Dice built-in house edge is 0.99%. If someone bets 1000 BTC, they are expected to lose 9.9 BTC and in the process they are getting back 10 BTC in free bets for a net profit of 0.1 BTC.

Now lets say the 10 BTC free bet is spent on Direct Dice without a reward for it (that's not really the case because you do get loyalty points for all the free bets except the last one), so you're expected to lose 0.099 BTC from the free bets, which is offset from the 0.1 BTC profit that you already have.

So the bottom line is that Direct Dice does indeed features 0% house edge for frequent bettors. And remember that this is before factoring in the Jackpot.

[waterpile]

fck more discusions makes my head hurt

[DirectBet]

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[DirectBet]

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