Just-Dice.com is an online casino game based on quick dice rolls. It operates in bitcoin currency, and it’s basically large collections of players betting on the results of dice rolls. The unique aspect of Just-dice is that the game allows any player to effectively bet on the side of the house, and benefit from the house edge. The house edge in these kinds of games is usually very low, 1% being the most common rate.
How Is The Game Played?
In Just Dice you pick any number between 0.0001 and 99.9998 and then bet on whether you think your roll will be over or under that number. There are two buttons, higher and lower that cover these options.
If you lose, the steak of the bet is taken into the house bank. But if you win, you are rewarded based on the probability of winning your chosen bet. Here is a simple example:
Your bet: 1 bitcoin that you will roll over 50 (so you have a 50% chance of winning).
If you roll under 50 you lose your bet of 1 bitcoin.
If you roll over 50 your return is 1.98 bitcoins.
The house edge is 1%, so the payout calculation is:
99% / by the chance of winning.
99 / 50 = 1.98.
As you can see the beauty of the game is that the player is essentially in control of the odds.
How Do The Odds Work When Backing The House?
When you make an account you’re encouraged to purchase bitcoins. Once you have done this you can deposit them into your Just Dice account and start playing. One of the first options you will have is to invest part of your funds into the house bank. With this option you are betting that the value of the house bank will increase. When players lose, the house wins and the bank value increases. So effectively you will be profiting when other players lose.
Just Dice takes 10% of this profit, and promises to share 90% of the house bank profits to investors. Of course your investment in the house bank is decreased when players betting against the house win, but the advantage of being on the house side is the 1% edge. So by choosing to invest in the house bank, in the long run the odds are in your favor.
This is a rare opportunity in gambling. Any other gambling game or option will always place the bettor at a disadvantage, with the house always keeping a relatively large edge on every bet. But in this Just Dice concept, every player is given the option of being on the side of the house, and having the odds in their favor for every roll.
Bitcoins allow Just Dice to prove its models and systems are fair, by showing the statistics of bets and results openly to the public. It also means the site is relatively safe from censorship and can handle payouts to its players and investors without the need for e-wallets or other 3rd party payment methods.
One of the most important advantages of the bitcoin system is that it allows its users to remain anonymous. Players can sign up and get involved in Just Dice without having to provide any identification or information that the site owners can use or distribute. Every player’s privacy remains completely protected.