Post
Topic
Board Gambling
Re: EveryDice.com | 0.99% Edge - Instant Cashout - Invest - Referral - Mobile - Fair
by
dooglus
on 23/05/2014, 01:19:34 UTC
I think it was the dooglas dice site that was attacked or whatever for having a 2% house edge, and everydice is way lower than that.  I actually think it was more along the lines of saying a 2% house edge site could not survive because house edge is so low.  

Just-Dice.com has always had a 1% house edge.

You may be getting confused by one of the following:

1) Erik Vorhees apparently once said that it wouldn't be profitable to run a dice site with an edge lower than 1.9%, which is the edge at SatoshiDice, which he used to own.

2) Just-Dice used to have a maximum profit per bet of 1% of the bankroll.  This was found to be too high, and caused the profit to go negative when we were attacked by a whale.  We lowered it to 0.25%, and then put it up to 0.5% a few days later.

The bottom line is that to be confident of making a profit you need to have your maximum profit be a smaller percentage of your bankroll than the house edge percentage.