Post
Topic
Board Gambling
Re: SatoshiDICE.com - The World's Most Popular Bitcoin Game
by
Alienisolation
on 29/05/2016, 00:35:34 UTC
Honestly why do people play/invest here...

Investors:
They consistently are one of the lower volume casinos out there that accept public funds (stats according to https://dicesites.com/satoshidice), and they have a giant bankroll. What this means is you are getting a tiny return.

I'll explain it this way:

They average under 100 BTC per day in wagered volume, yet they have a whopping 4000+ BTC bankroll. Lets do some quick math: 100BTC (daily wagered) * 1.9% (house edge) = 1.9 BTC expected return. Say you have 1 BTC invested, that means your expected return is 0.0475% daily... And that doesn't even include fees!

They average well under 100,000 bets per day. This means they don't have many players. Most of their competitors are in the millions daily (# of bets). This signifies an over reliance on key larger players.

Players:
Terrible customer support, slow bets, and slow withdrawals. Yikes. And 1.9% House edge? That's nearly double the industry standard!

A friend nagged me into creating an account on Bitcointalk just to respond here. My investment has grown over 350+ BTC 'nuff said. Numbers of bets is not that important, what matters is there are big players and despite technical problems in the past, the site is trustworthy enough to keep some funds.