Quick Intro to Magic-Dice
Ever since @sirknight wrote about @magicdice I decided to check it out. I spent a few minutes poking around the website and decided to delegate 100 SP so I could start receiving 100 Magic Tokens every 24 hours. If you're wondering what Magic Tokens are according to the magic dice website
Magic Dice rewards users for playing dice, referring new users or delegating STEEM Power with MAGIC tokens. MAGIC token holders will receive 40% of the profits that Magic Dice generates as daily dividends. There are 7 billion MAGIC tokens and 70% of the tokens are distributed to players on Magic Dice.
I have a total of 700 Magic that I received for my 7 days of 100 SP delegation to them. As you can see from the site you can get Magic from either playing dice (25 magic for every 1 Steem gambled), delegation like myself, or referring others. Almost 3,100 Steem dividends have been paid so far over the past few days.
Another aspect of MagicDice that I'm interested to see is how much the Magic tokens sell for when there is an exchange that you can sell/buy them on. I wonder if short term minded people will be dumping the Magic Tokens for more Steem to gamble with or if they will become a hot commodity for the dividend payouts.
I have not seen a max bet yet, but I do know the minimum bet on the platform is 0.1 Steem or SBD. You will then move the slider closer to 100 or closer to 1 and then bet if the number will be under the number you picked or over the number you picked. The multiplier changes from 2x at 50 to 98x if you choose under 2 or over 99. Basically, the lower the chance you will get the best right the higher the multiplier.
Just like crypto don't gamble with more than you can afford to lose in the site. I'm betting that magic-dice will be a good long term investment and even then I'm not gambling much (just 100 SP which I can withdraw at any time), so if you do decide to sign-up do so at your own risk.
I've only made 0.002 Steem with my 700 magic so far. I'll keep you updated if it really starts to jump in payouts as I slowly accumulate more and more Magic Tokens Daily. For those on Steemit looking to do some "online gaming", this does look like a fun and convenient site to do it on. With more and more competition daily we'll have to wait and see what improvements they have waiting around the corner.
there sure is an explosive of them starting to show up. I wonder how many are by a group of people just rebranding/skinning and putting another one out. After they notice this one and its possible income potential.
Seems like every day there another one hehe.
Well the next one that is coming out is only a 1% house edge, but Im sure there mostly the same thing. Betting sites have always been popular even when it was mainly Bitcoin. Crypto is one big gamble and attracts a lot of gamblers so Im sure these sites are very profitable for the onwers. Im sure well see smaller and smaller house edges with bigger and bigger dividend payouts.
First Mover Advantage is a Big Deal on STEEM. Thanks for the look at Magicdice @gniksivart
First mover advantage is a big advantage anywhere! And thanks for stopping by and commenting!
I played sometimes but i can bet that i was losing a lot so i gave up
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STOPI am resistant to games but make check it out later. :)
You got a 7.91% upvote from @ocdb courtesy of @gniksivart! :)
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