Re: Just-Dice.com : Play or Invest : 1% House Edge : Banter++
Pulled my 7.5BTC 3 days ago when the site was up only 4,000 BTC, I came back the next day to see how much JD was up (2,000 BTC) and now today the site is negative -100 BTC. 
We being JD investors. Something must be done about huge Martingale bettors. I recommend lower house limits on consistent doublers.
I somehow have invested in the only casino in the world that loses money...
Eventually the house edge will kick in.
The thing about the edge thats important is that each bet gets a tiny little bite taken out of it - in this case REALLY tiny - and that adds up. The more the bets, the smaller the variance and the smaller the variance the more the house edge kicks in. With an edge as small as ours we must have a small variance. That means many small bets.
But we can get hurt by a few huge bets because the variance is large. The investor then becomes just another gambler and the whole point of being an investor is to not be a gambler. It is to be on the right side of the odds.
The math says we have to lower the max or raise the edge for big bets.