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RE: Magic Dice v1.3 - The MAGIC Token - Earn dividends by playing Dice

in #steemit3 years ago

There are no extra costs for receiving tokens. Magic Dice has the same 2% house edge as before.

I never understand how magicdice impletmented the house edge, do you mind to explain how can users be sure the house edge is 2%?

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It's included in the multiplier/payout.
Bet with 50% win chance without house edge would pay you 2x. With the house edge of 2% it's 1.96x.
You can verify that every bet has the correct house edge of 2% when you check the multiplier/payout.

Once I bet about 460Steem with 94% winning chance on MagicDice,
(First betting ever on MagicDice) and guess what Happened.. lol

-> Since then I simply quit playing dice. :)


2% house edge means House will grow about 2% (continuously) as people keep betting.

More you play, more you'll lose.
That is the simple rule of the Dice.

So play small just for fun.
You can not make your living expenses from gambling.

If you win the first game and doubled/tripled your wager,
That is actually the best time to quit.

Cheers ;)

I am learning that through trial and error. It is fun but damn I can see the addiction epidemic in gambling more clearly now haha. Yes, I did realize the more I play the more I lose. S o now I figure just a little wager here and there on a fair amount may do me better.

Sorry you lost that huge bet on the 6% possibility, but it happens in Dice game. However, I don't think house edge will grow in any form as one keeps playing. House edge should be at the same level for every new round starts.

Nothing to be sorry mate,
that was merely a crisp from my trading profit :)

And Yes, I was talking about the 'Dice market' & size growing,
not the House edge changing. House edge will stay same as now,
but the MagicDice cap will be definitely bigger.
Because some people just can not stop gambling.. :P

Have a good day!

Thanks for the brief, clear enough! Great business ahead!