January 1, 2015
Just Dice relaunched the same product with some altcoin we had never heard of.
Just Dice has halted deposits and bets, details here.
Never has a feature that allows anybody in the world to put themselves at an advantageous position in a gambling operation been offered. That is normally reserved for those rich and politically connected enough to own a gambling operation or for the investor class with barriers to entry that preclude most of the world’s population.
On average your investment will increase 0.9% as often as the house bank is turned over. For example at the moment the house bank is ฿42,500, so every time that amount is wagered by users the site should make on average 1% profit with 0.9% of that going to investors. Here is how to calculate the expected investors profit
year in days / turnover in days = turnovers per year
turnovers per year * investors edge = expected annual return
The Just Dice house bank turns over approximately every 14 days on average so here is the calculation for Just Dice
365 / 14 = 26.07
26.07 * 0.9 = 24.03
turnovers per year * investors edge = expected return
I first invested in Just Dice 3 months ago and the investment I made has risen 22.5% since then. So far the site has paid out ฿18,000 to investors.
The risks are legal crackdowns, hackers or the site operators disappearing with the money. This is sincerely the best passive investment I have ever found.
See this page for full details, calculations and examples of the house bank investment model.
Crypto allows Just Dice to be censorship resistant as they do not need 3rd party payment processors who governments can restrict.
Crypto allows for almost free and instant deposits and withdrawals of any amount 24/7.
Crypto allows users to be anonymous, to not have to give any information to the site operator which he could sell or have stolen by hackers or the government. Being anonymous may also help avoid legal and tax implications.
Crypto allows the site’s operators to save so much money on banking, fraud, account verification and management that they can pass some of these savings back to the customer and offer a lower house edge than government currency gambling sites.
One further point of difference with Just Dice is that it has a social aspect as you can see everyone’s bets and there is a friendly community chat box. You will find the site owners Dooglus and Deb interacting with the community in the chat and in the BitcoinTalk Forum thread.
You stake any amount up to however much would win you the max profit. The max profit is 0.5% of the house bank which is a changing amount. At the time of writing the max profit was ฿212.
Pick any number between 0 and 100 then bet whether you will roll over or under that number by clicking roll high or roll low.
You will then roll a number between 0 and 100. If you lose you lose the stake. If you win you win the amount that the true probability of winning would give, less the 1% house edge.
Full details, calculations and examples here.
I hope Just Dice will offer other bet types and payout structures like being able to bet you will roll either over X or under Y in one bet, betting you will roll in between X and Y, insurance and progressive jackpot payouts. There are also improvements that could be made to make the site even more social.
Probably not, openly providing a mathematically sound good investment opportunity to everyone, with privacy running foul of financial laws. What does that show about who these laws serve? The politically connected or wealthy investor class can get passed the berries to entry and invest on the right side of a gambling operation, but for the rest of us it’s illegal.
See our crypto dice reviews and check out key figures and performance tracking on our real-life dice investment comparison.
Disclaimer: I receive nothing for this page or by referring users to Just Dice (no affiliate program).
We have set up updates when there are opportuntites to gamble crypto with the most accurate odds information. We guarantee 100% privacy, your information will not be shared