Magic Dice: A Gambling Review
Roll the Dice!
Smart Media Tokens or SMTs are here, not officially but you may have noticed @actifit, @magicdice, @steemmonsters, @steem-bet, @drugwars, @partiko, @busy or others. The past couple of days I felt lucky and decided to try out Magic Dice and Steem-Bet. The following is a review and a guide for Magic Dice
source
Please Gamble Responsibly
Magic Dice is no joke, it's a professional looking website and it's addictive. Essentially you wager Steem or SBD on rolling higher or lower than a number from 1 to 100. Your payout depends on your stakes and the odds, for example, if you bet that you will roll over a 6 (minimum bet, your payout will be 1.04 x your bet. If you bet on rolling lower than a 2, your payout will be 98x your bet. The house edge is 2% as a tie will result in a loss, you can read all about the fairness on their website (click image below)
Referral Link
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Pros
- Dividends: With every roll, you get a percentage of your bet back as MAGIC, the SMT token, which gives you an ownership percentage of the daily take for the Casino
- Easy to use and secure with SteemConnect
- Attractive and simple Interface
- Instant Payouts, well the 3-second rule applies as it's on the Steem Blockchain
Cons
- Spams the network with transactions, each roll results in two transactions, one to Magic Dice and one back to you from them with your payout
- You can lose your hard-earned Steem quickly and mathematically speaking, the more you bet, the more you will lose
- Sometimes it's slow and has latency issues with SteemConnect
Dividends!
The best thing about Magic Dice is the daily dividends, it has only been around for about 2 weeks, yet you can see in the photo above there are immense profits already being generated. 40% of the Casino's take is shared with MAGIC holders and you can acquire Magic tokens from gambling, leasing Steem or other activities. When SMTs become available, you will probably be able to gamble your tokens and buy/sell them. There will eventually be 7 billion MAGIC tokens and the dividends are split proportionately between the holders.
What's the Catch?
There is no catch, you just need Steem or SBD to bet, the Steem cannot be powered up and it must be in your account and not on an exchange. You get dividends regardless of the outcome and if you win, you get your bet back plus the odds, if you lose, it's tough luck. It's amazing how much is being gambled everyday, hate it or love it, this is excellent for Steem. The Gambling industry is massive, internet Gambling is growing and blockchain technology ensures fairness. If Steem could capture just 1% of the online gambling market its demand would skyrocket.
Good Luck!
Here is my referral link to try out Magic Dice
https://magic-dice.com/?ref=crypticat
https://steem-bet.com?ref=crypticat
Thank You
I like dice. I wonder how much your referral made me win?
!bookkeeping magicdice
Posted using Partiko Android
Hi @abitcoinskeptic!
magicdice
Received:
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No related SBD transfer were found.
About as much as this upvote. I'll upvote anyone who uses my referral, the more you gamble the more upvotes!
Posted using Partiko Android
https://steemslotgames.com/?referral_name=crypticat try this one
That why I stay far away of the game but I might do a video review about it this week. ;)
Drop a link, I'd like to hear your take on it. @magicdice is a great idea and doesn't seem too complicated to program. I'm surprised it took so long for gambling to hit Steem, they're making a killing. 1500 Steem a day is only 40% of their take plus they keep 30% of the tokens? Seems like those 2% losses add up quickly.
The rule to remember, the house always wins!
Magic Dice has rewarded your post with a 82% upvote. Thanks for playing Magic Dice.
Thanks @magicdice, you really do put the magic in the dice.
Posted using Partiko Android