Another Option
On another option that hasn't been explored much, perhaps we should have an option where investors can choose to be based on amount wagered instead of amount won - at say a substantial reduced amount - example would be at 40% house 'risk cut'.
The problem with this is that those investors aren't risking anything at all. When the house needs coins to pay out a winner, these investors aren't going to give up their coins. They may as well not even bother depositing their coins, because we're just going to put them into cold storage and then give them back, with interest.
Sure, I agree, unless the capital is needed for something e.g. boosting the max bet, or for things like advertising in order to get more return on investment. However, the pot is already pretty high, even after the recent losses, so I can understand why this idea probably doesn't have much merit, unless all the investors abandon the site due to variance/losses
I think using 0.5% for example is a lot better than full 1% because by using 0.5% max bet each individual investor have more option to regulate the variance they are willing to accept by just increasing or decreasing their investment and actually get a better risk/reward than what you would with full Kelly.
I think 0.5 would be a good compromise. I think if we can continue to get 5000 wagered a day, which we were getting without nawoka, then I'm happy with those returns. 0.5% max bet doesn't prevent 99% of gamblers from gambling on just-dice - tbh I don't think even 0.25% does
I'd really like to see a graph of number of bets placed for each % of house pot, and volume, then potentially take the 95 percentile of bets and set max bet there. My guess would be that > 95% of bets would still have been placed even with a house pot of 0.1%
Will