The latest trend in Bitcoin gambling is the casino dice game that uses the cryptocurrency known as Bitcoin dice. It has a simple and deep mechanic. Practically anyone can play the game because of how simple the rules are. Its most notable feature is in how you can practically bring down the house edge.
Rules of the game
To play Bitcoin dice, you first choose your lucky number between two to 12. The number is going to play an important role to your bet. Once you have a lucky number, you make your bet on ‘over’ or ‘under’. An ‘over’ bet is where the dice roll number is going to be higher than your lucky number. Under bet is the opposite where the roll is lower than the number you picked.
Unique feature of the game
This simple rule in Bitcoin dice opens up a number of possible bets that can only happen in this game. New players of the game might think the game is an even money game where the probability of winning is 50/50. This is true if you set your lucky number to 6 or 7.
What happens if you set this lower or higher than 6 or even 7 in Bitcoin dice? This creates a noticeable difference between the probabilities of winning. If you set your lucky number to 3 for example, you have a higher chance of winning a roll if you bet on ‘over’. At the same time, you have a low chance of winning if you set your bet to ‘under’.
If this is the case, then people are likely to just set the number to 2 and keep betting on ‘over’. Doing so can give them 98% of winning each of their rolls. But by maximizing their chance of winning, they lower their payout rate to about 1% of their bets. If you were to bet on ‘under’, you are very likely to lose your bet. But if you are able to roll a ‘2’, you can get a 49.5 to 1 payout rate.
Bitcoin dice games
Majority of Bitcoin casino dice games lets you directly set the probability and the payout rate of your rolls. This makes it easy to change your bets in between the rolls. Certain dice games though are able to let you pick your lucky number and type of bet for each roll.
The unique feature of allowing players to set the winning probability and the payout rate of their rolls is the reason why many are lining up to play the bitcoin dice game like the provably fair dice game at Betcoin.ag.