Why magic dice and all casino's are a scam. The house always wins and you lose.
Gambling on magic dice is really stupid because you are guaranteed to lose money over time. Ever heard the expression the house always wins? Casino's are made to bring in profits for their owners. They make profit out of people who apparently can't do some basic mathematics. When you are able to do basic risk/reward and probability calculations than you would know how the odds are stacked against you.
It's very simple, these are the odds on magicdice:
In this case the probability to success is 49% and the risk/reward is 100/200. (You can win 49% of the time and when you do you win x2 your money.) These are very bad odds which will guarantee to lose you money over time.
Lets say you would do this dice roll 1000 times with 100 steem each time. That would mean you win 49% of the time 100 steem (+the 100 you put in originally) and 51% of the time you lose 100 steem. So you lose 510 times 100 steem and 490 times you will win 100 steem.
See how the odds are stacked against you? Just do the math and you know.
It's not a scam because they tell you exactly what the odds are. They tell you it's 49%. If they told you it's 65% and it was actually 49%, that would make it a scam.
PS: It's really small of you to downvote people you disagree with. Downvotes are not intended to be used as a "disagree" button. They're there for spam and plagiarization.
Well said :D
I think so too. And I checked the discord from steem cleaners that by logging on to magic dice, we risk our master keys phished. That's a good article you've wrote. The best way is the slow way.
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It's not about opinion. It's just a fact that with all casino's and also magic dice the odds are stacked against you. Just do the math and you know. This is something you can calculate easily.
Yea. Niel. Well, it's frustrating I know since we can calculate these things. These thrive due to greed and less on logic. Whenever, I go to casinos, it's always full. Or those in my country where you guess four numbers and win millions is always full though not many win. The dream and greed.
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I think we live in a really sad world to be honest. People just promote this because they can earn from using the affiliate link. That's why it's so big in the first place. While gambling is something that's unprofitable to begin with. How is that more ethical than promoting a ponzi scheme?
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This is absolutly not a scam. This is gambling. You still have a chance to win and lose. Those who gambling they know they are risking.
And those who advertise it they make it because in some way they are also a bank. So by gambling you earn magic tokens and if you are a magic token holder you get your dividens. You didnt calculate the dividens mate.
And while i respect you and you have a right to write what ever you like but with a false negative post you make a bad advertisement not just for the dapp but also for your fellow steemians who invested in the project. 😉
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Off course it's a scam because it is designed to let people lose their money.
How would you call it otherwise? Charity?
yes every casino earns only on the addict. in my area there are many zombies who have ruined their lives by the shit. The bank always wins and against machines it goes even faster
some people lose some people win. Is it also scam if you use any kind of service? Than the taxi should take you somewhere for free? Or some cable chamels should be freee also? This is business. Entertainment. Some people even dont mind if they lose.
And trust m 3 long years i was working in a casino. 😉
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Very strange comparison. A taxi is not supposed to make you money, you pay them for a service. Has nothing to do with gambling at all.
"some people lose some people win."
Bullshit. You can't win since the odds are stacked against you. If you play long enough you will always lose. (You should know that if you worked in a casino.) The only way to win is by using an affiliate link an trying to lure other people into this scam.
I think you try it and you lose. That is all your post about. All of us had and have a chance to play and get tokens. Which means that we can be a part of it.
Yes in long distance all the players will lose. But if you play and win you should know when to stop playing.
Ok i compare it different way. If you drink alcohol or smoke a cigarette. Both will kill you in long distance. And you actually pay for it. So those are also scams?
So if you lost that is your mistake. No need to blame others. Your decission is to play and your decission is to know when to stop playing.
Have lovely day and try to manage your anger😉
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Then you are making a wrong assumption since i didn't even play this "game". I have no idea why i would do that since it's designed to let people lose money.
"Yes in long distance all the players will lose. But if you play and win you should know when to stop playing."
Strange reasoning since it's just gambling with the odds stacked against you. So you are more likely to lose than win. If you want to make money on a legit way go get an extra job or start a business. There is so much opportunity in life.
Hey dude he he i have a 1.6 hectare farm in philippines 1 car in rent as a uber and i have a good job in my country. So example if there is a oportunity that i can be a part of this business than i can play.
And i can show you many people who just play for fun. If you dont like gambling than it is okay. But some other people like.
Ok i am not a fun of dice but example i am a big fun of poker. That is also gambling. And if you win usually we win from each other with my friends. But somebody have to lose.
Just chill😉
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by the way thanks for your flag. Even i dont agree with you and i think your post is quiet negative for those who like the gambling and casinos i didnt put a flag for you. I just shared my opinion.
Unlike you. Cheers
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Las vegas ??