We have created DiceBet as a simple dice site that has some unique features that we wanted in the space but could not find with other dice sites.
Most notable is the biggest investment leverage option and the very low house edge.
With the platform being offered on multiple cryptocurrencies on a very simple and easy to use off chain dice site.
The crypto gambling industry continues to change
When Bitcoin gambling first started we all thought a 2% house edge was very low, now today 1% is considered average to high. So we decided on going lower again to just 0.7%.
When Bitcoin investing first started we were happy to invest and let the house select the bankroll leverage or kelly for us and today investors want to select their own leverage. Why have 10 Bitcoins sitting on a sites bankroll when you could have just 1 Bitcoin there leveraged 10x and keep the other 9 offsite?
When crypto gambling first started players were happy to use just Bitcoin to gamble with, but today crypto gamblers expect to be able to use multiple currencies on a single site.
Early investors were happy to share 50% of the profits with the casino site, now we are taking that down to just 25%.
What is the house edge?
Our house edge on all rolls at DiceBet is only 0.7% (RTP 99.3%).
This crypto gambling industry low edge provides users a better opportunity to make money unlike our competitors that have 1% or higher, or worse yet, fiat casinos which feature house edges over 10%.
How can I trust DiceBet rolls are fair and legitimate?
DiceBet uses the provable fair system which is the standard of today (you shouldn’t trust a site that does not use this), meaning you don’t have to trust anyone except the mathematically fairness of cryptography.
Using cryptography we and you can 100% prove and verify that each roll is 100% random and not known in advance of any bets.
Can I invest in DiceBet?
Our bankroll is publicly funded and open to all investors. As an investor in the bankroll you get to share the profits of the site and at times share in the loses. Your profit or loss is based on your share of the bankroll. You can always see the size of the bankroll and your share of it on the invest tab.
Always remember as an investor in a casino that players can have periods of winning streaks as well as loses. However in the long run the site will likely make a profit from the house edge. So only invest if you believe that the long term profit will outweigh the occasional short term losses.
How does investment leverage work?
At DiceBet we have created one of the biggest leverage options for investors if they wish to use it. Without leverage the maximum winning bet is always set to 1% of the bankroll. Therefore if the bankroll is 100 Bitcoins, the most a player can win on a bet is 1 Bitcoin without any leverage.
We have created a big leverage option for two main reasons:
1) If you want a large exposure to the bankroll but do not want to put all your cryptocurrency balance in the bankroll then you can use leverage to simulate that scenario.
For example, lets say you have 10 Bitcoins and you decide to invest 1 Bitcoin in the bankroll and use 10x leverage. This way you keep 9 Bitcoins offline in your own wallet and 1 Bitcoin on DiceBet.
Lets also assume that the bankroll already has 10 Bitcoins invested in the bankroll, so with your leveraged 1 Bitcoin at 10x the new effective bankroll is 20 Bitcoins.
Now lets assume after one month DiceBet has made 2 Bitcoins in profit (after the house commission). You will earn 1 Bitcoin from that and your onsite balance will increase from 1 Bitcoin to 2 Bitcoins.
2) If you believe that the 1% maximum winning bet of the bankroll is too conservative and you want to take a higher risk/reward approach then you can leverage your investment up to 50x.
This can be extremely risky but can also yield big returns. For example, lets say you have 1 Bitcoin invested in the bankroll at 50x leverage. All other investors have 50 Bitcoins combined in the bankroll at 1x leverage. Therefore the effective bankroll is 100 Bitcoins and your share of the profit and loss is 50%.
Lets assume after one month DiceBet has made 2 Bitcoins in profit (after the house commission). You will earn 1 Bitcoin doubling your 1 Bitcoin investment and the rest of the bankroll investors will share the 1 Bitcoin profit. Meaning you have made a 100% return and they have made a 2% return.
However, conversely if the site loses 2 Bitcoins in the example above you will lose your entire investment, whereas the other investors will only lose 2% of their balance.
What is the site commission on investments?
DiceBet takes a very small 25% commission on the profit of the site either weekly or when an investor divests. This is used to help pay for the site’s hosting, marketing, developers, referral bonus and promotions. We aim to keep it to an absolute minimum so the majority of funds are returned to investors.
Are my coins safe on DiceBet?
As safe as can be. We store nearly all of the bankroll coins in offline cold wallets. The hot wallet only stores enough coins to allow for players to perform instant withdraws. Below are the cold wallet addresses for each currency:
How do I deposit and withdraw?
Deposits are simply done by clicking the deposit button on the top right menu on the home page and sending either Bitcoin, Litecoin or Etheruem to the wallet address that DiceBet creates for you.
Please double check to make sure you are sending Bitcoin to the Bitcoin address, Etheruem to the Etheruem address and Litecoin to the Litecoin address. If you are unsure what currency is selected you can easily see the currency symbol to the homepage.
When you have finished playing and want to withdraw your funds, simply click the withdraw button on the top right menu and fill in your wallet address you want to send your funds too.
We endeavor to make withdraws instant, however occasionally our onsite hot wallet will be low if players have some big wins. In this situation we will need to send the money from our cold wallet. These will normally happen within a few hours.
What is the maximum win?
The maximum win is always displayed to the right of the dice rolling window on the home page. You may notice that the maximum win number is always slightly changing. This is because the maximum win is dependent on the size of the bankroll and the leverage investors are using.
What is provably fair and how does it work?
One of the key benefits to the crypto gambling market is the use of provably fair gambling. Using cryptography all good bitcoin and alt coin dice sites use this provably fair system to ensure the site does not cheat the player. You can read more about this on our provably page.
I need further help that is not on the FAQ, how do I contact you?
You can submit a ticket on the support page which you can find on the home page menu. We will get back to you within 24 hours.
Do you offer a referral program?
Yes, we do have a referral program! Read all the details here on the affiliates tab.